Re:Waymo announces Miami as its next ride hailing city
by jsnell on Thursday December 05, 2024 @01:18PM
(#42330837)
> There’s certainly reason to believe it to be true of course, but uber and Lyft are already capturing upwards of 50% of the fares for each ride,
That's not true. If you check Uber's Q3 financials, gross bookings for "Mobility" were $21B while revenue was $6.5B. That's way lower than 50%.
Re:Waymo announces Miami as its next ride hailing city
by cameldrv on Thursday December 05, 2024 @05:13PM
(#42333444)
> but uber and Lyft are already capturing upwards of 50% of the fares for each ride
I'm not sure if that's an accurate number, but I have seen a lot of complaints from drivers that they're getting a far lower share of the trip revenue than they used to. It's pretty remarkable that in a competitive market where Uber and Lyft are almost perfect substitutes for each other and charge almost exactly the same prices, that they're able to maintain these gross margins.
I think that’s an unproven assumption.
There’s certainly reason to believe it to be true of course, but uber and Lyft are already capturing upwards of 50% of the fares for each ride, and that’s without the capital costs on their books. Removing the driver from the equation can’t lead to much more than that 50% (realistically much less) margin.
Going from charging $10 to $5 isn’t going to make rides suddenly materialize. Especially in rural areas there are just times that people aren’t going to be looking to go anywhere, and wait time becomes far more of a factor that raw costs.