07-21-2015, 10:55 PM
$109 plus probably some tips at 10 hours -- say $130 + $20 in tips for $150 total at the end of the shift. $80 for car rental, say $20 for gas to end up with $50.
The Uber driver with the same number of rides might only earn $75, less 20% for $60 net. $20 for gas, and he ends up with $40, and he still has to pay for a car.
Clearly for Uber to work for the driver, he has to be able to get substantially more rides than a taxi driver, so the effectiveness of the Uber app is the key there. An oversupply of drivers won't force prices down but it'll reduce average driver earnings so that will likely reduce the diver population in the longer run.
The Uber driver with the same number of rides might only earn $75, less 20% for $60 net. $20 for gas, and he ends up with $40, and he still has to pay for a car.
Clearly for Uber to work for the driver, he has to be able to get substantially more rides than a taxi driver, so the effectiveness of the Uber app is the key there. An oversupply of drivers won't force prices down but it'll reduce average driver earnings so that will likely reduce the diver population in the longer run.