Not rate to customer. Rate to drivers - which makes the good drivers leave.

In a new market Uber will pay something like 95-110% of fares taken in to drivers (not exact numbers, would need to look). Over the long run I think it drops to 60-70%, or something significantly worse (as clearly paying drivers 110% of income is not sustainable).

Not true. Uber sets a commission (differs across different markets) with a new driver and that's what they get from the miles + time portion of the fare.

If Uber decides to change the commission it almost always grandfathers existing drivers to what they had when they joined.

Surely there is enough driver turnover that this is a distinction without a difference.

Well sure, they don't have a monopoly _yet_.

I have never taken an Uber in NYC that was cheaper than the equivalent cab ride. Somehow it always manages to work out to more.

you also pay less when you don't tip - there's none included in the uber fee.