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[Valkyr Junkie]

So uh, how are they getting round insurance and having to gain a taxi license from local authorities?

Is it one of those "we assume all our drivers have it, nothing to do with us we just get paid" situations?

The drivers are required to carry their own insurance, and I believe Uber has insurance to cover them beyond a certain point (Can't remember if it's $100k or $1M). The taxi license issue is why there is such a stink about Uber (particularly in France and Belgium) and why drivers are being frequently ticketed. Uber pays the driver's fine in these cases.

 

[ЯAW]

People will do anything to avoid actually speaking to a human being over the phone.

That is not the catch. Catch is Uber is available and delivers better service then most taxi companies.

 

[yodandy]

I live in Chicago and use Uber and UberX extensively. Uber taxis are regulated taxis that use Uber as an additional source of revenue rather than driving around looking for people. UberX are just stay at home Mom's, or people who have quit their terrible teaching job to make more money working their own hours to drive. Since UberX has looser regulation on insurance and background checks and the like, using UberX is dirt cheap. UberX has been targeted by taxi companies constantly and recently I think something has passed to make it really hard for UberX to maintain it's dirt cheap rates. I use UberX constantly, sometimes a really sweet BMW picks me up, and sometimes it's some crappy Camry, but overall these are just nice people looking for a few extra $$$'s. One of my friends even started driving after work and she already has a great base salary at work.

Uber also gives you referral credit for ref'ing people to use it for the first time, give $10, get $10, I get free rides all the time signing my friends up for it.

There are a few companies I actively tell my friends about because they are awesome, Amazon, Spotify, and now Uber.

*Note, I may not have described Uber/UberX perfectly, that's just my jist of what i've randomly heard from people. Also, I know this sounds really spokes-person-ish, but I live in a weird area in CHI where cab's are not constantly buzzing by, Uber is a freaking godsend. I long for the day Google buys Uber and we can have on demand dirt cheap self driving taxi's for me after the bars.

EDIT: The main draw for me for Uber, is just 3-10 minutes before everyone is ready to hit the bars, I hit a button, and they are on their way, I can walk out of the cab and it pays w/my CC with a preloaded tip + uber fee, I dont have to worry about asshole cab drivers refusing my CC, I can split fares w/my friends on Uber, it's just all ridiculously simple, they also have great customer support. The only thing that sucks is their demand based "Surge Pricing" where prices go up to 1.25x-10x based on demand. I almost paid 10x fares on NYE but I decided to walk home. I have been hit with the surge pricing a few times but didn't mind because with UberX it was still cheaper and a better experience than some random taxi outside of a bar.

EDIT2: There is also a really good feedback system for drivers AND riders alike, everything I could ask for in a cab app is there, I once complained a driver did not take the route I requested, the Uber CSR wrote back and even refunded a part of my fare and said they'd speak w/the driver. I have had drivers cancel on me before (probably cause I was too far away) but apparently this affects their internal Uber rating as well.

 

[DoktorEvil]

So uh, how are they getting round insurance and having to gain a taxi license from local authorities?

Is it one of those "we assume all our drivers have it, nothing to do with us we just get paid" situations?

It seems like it's a match app for people looking for cabs and people providing cab service.

Since these drivers don't have medallions, they're technically not cabs, then Uber takes a cut of the charges processed and the remaining goes to the driver.

To me, this screams "abuse me" written all over it, but in areas with terrible public transportation this is a lifesaver.

Edit: Please tell me I'm wrong. I know nothing about Uber.

 

[zephervack]

They sign up with uber and get paid through them. You request a ride, it shows you where they are on a map and they come pick you up. Once you arrive at your destination, you're billed through uber and then you rate the driver.

There's a feedback system where drivers and passengers rate each other after every ride, so there's incentive for everyone to get along.

But yes, the first time someone rides with uber or the first time someone drives for uber, they are a total stranger in the network. They haven't been vetted by anybody except Uber, who apparently runs a background check on their drivers in Los Angeles, at least.

Thanks for clarifying, It makes sense but its still nuts, the first thing that pops in my mind when I think of randoms giving me a ride, is a car that stinks of cigarette smokes and piles of garbage everywhere.

But I guess with the rating system drivers have an incentive to keep their cars clean, etc, Still dont understand how it is profitable for the drivers.

Though now I can totally picture picking someone up on my way home if I have a long commute and if the passenger's destination is nearby, why not make a quick buck, brilliant.

 

[Woffls]

Web 3.0 bubble bursting in 3...2...1....

Spoiler

2016

 

[chris121580]

I love Uber. Friends and I use it all the time if we head out to the bars. Fast, convenient, and love that you can tell where your ride is. The fact taxis haven't added this kind of technology is ridiculous. I can't count how many times I've called for a taxi and they say they're 10 minutes out and it's a complete lie. Uber is a game changer

 

[TheAbsolution]

I have never heard of this, and I'm going to be in Rome soon, and I can use it there. Neat!

Yeah its great. Easy to use and it's much faster than calling around for a cab.

 

[chris121580]

Not to mention, you can easily pay with a credit card. Where I live, cab drivers will make you to go to the ATM before trying to use a credit card because it's such a manual process for them.

 

[luxarific]

I love Uber. Friends and I use it all the time if we head out to the bars. Fast, convenient, and love that you can tell where your ride is. The fact taxis haven't added this kind of technology is ridiculous. I can't count how many times I've called for a taxi and they say they're 10 minutes out and it's a complete lie. Uber is a game changer

Basically this is the only reason I'm even mildly pro-Uber. Taxis really need to get with the times and make their customer experiences better. The only way that is going to happen is with competition.

 

[Amory]

Thanks for clarifying, It makes sense but its still nuts, the first thing that pops in my mind when I think of randoms giving me a ride, is a car that stinks of cigarette smokes and piles of garbage everywhere.

But I guess with the rating system drivers have an incentive to keep their cars clean, etc, Still dont understand how it is profitable for the drivers.

Though now I can totally picture picking someone up on my way home if I have a long commute and if the passenger's destination is nearby, why not make a quick buck, brilliant.

I'm pretty sure it's not just an incentive to keep the car clean, but a requirement. And one of the drivers I had told me that Uber provides stipend money to go get it vacuumed out.

 

[BronsonLee]

Not to mention, you can easily pay with a credit card. Where I live, cab drivers will make you to go to the ATM before trying to use a credit card because it's such a manual process for them.

I'm afraid I've got some bad news.

They don't want you to use a card because when you pay with cash they can underreport it, or if you tip them, not report that. If you pay with a card, not so much.

TAXI'D.

Also Uber is nice but expensive in Philly, I'll just walk everywhere.

 

[KHarvey16]

I'm afraid I've got some bad news.

They don't want you to use a card because when you pay with cash they can underreport it, or if you tip them, not report that. If you pay with a card, not so much.

TAXI'D.

Also Uber is nice but expensive in Philly, I'll just walk everywhere.

If you can use uberx do that, it's much much cheaper than taxis in the boston area.

 

[Hazaro]

Yeah it doesn't really seem like a ridiculous valuation at all. They've got something real good.

Except for the fact everything they do is easily reproducible and you could make 50,000 Uber competitors for the same cost?

I don't think people are understanding how large a number 17B is.

 

[0xCA2]

Interested in this but I'm scared.

 

[zephervack]

Interested in this but I'm scared.

Same here, but it reminds me when online shopping starting becoming a thing, didnt trust it but eventually just accepted it.

 

[BronsonLee]

If you can use uberx do that, it's much much cheaper than taxis in the boston area.

I can use it in South Jersey, but the PPA hates Uber with the fury of a thousand sons, so no UberX here. :-/

 

[Ovid]

That's approximately 4x more valuable than Marvel when it was bought out in 2009.

 

[U n i o n 0015]

LOL @ all these bubble comments. Do you guys live the middle of nowhere or something? Uber is HUGE in cities.

Uber is essentially the future of taxi services, to the point that it is killing the traditional taxi industry in the markets that it enters. To value Uber at $17 billion for a service that will be THE way to order a taxi in the future seems downright cheap. If Uber can keep on top of automated cars, they will make a killing.

Really the only thing that stands in their way is taxi commission opposition and the politicians' pockets lined with their money.

 

[DoktorEvil]

Yeah it doesn't really seem like a ridiculous valuation at all. They've got something real good.

That's approximately 4x more valuable than Marvel when it was bought out in 2009.

Quoted for irony.

 

[-COOLIO-]

what's this bubble yall speak of?

digital goods and services?

 

[CrankyJay]

Just wait until Google buys Uber and uses their Google cars instead of actual drivers.

 

[speculawyer]

 

[Junior Mint]

I wonder how fast that valuation would crash if cities started regulating Uber like they do with Taxis

 

[victreeb3l]

I hate Uber though. I prefer Hailo cause theyre cheaper.

 

[Cagey]

Living in Manhattan, I have no frame of reference about why Uber is needed versus hailing cabs otherwise. Is it generally difficult to find one in other major cities?

 

[Deleted member 284]

Yeah, the bubble comments are interesting. Uber actually provides a service that people will pay...even when the multiplier rates are in effect. This is hardly a pets.com or toys.com situation.

Living in Manhattan, I have no frame of reference about why Uber is needed versus hailing cabs otherwise. Is it generally difficult to find one in other major cities?

NYC has an alternative to cabs with the MTA. As shitty as it can be, it's still leagues better than say public transportation in places like L,A,

 

[Goldrush]

I like the idea of Uber, but, more and more, I can't see any reason why they shouldn't be under the same regulations that taxi endures. The attraction of Uber is the convenience. Even with increased rate, Uber will still make a killing as a taxi company.

 

[ana]

Hopefully this will give some leverage against cab companies...

 

[Squalor]

Uber is better, faster, cleaner, and, most of the time, cheaper.

Traditional taxis in the States are a ripoff.

 

[zephervack]

What is this "multiplier rate" people keep referencing?

 

[Ovid]

Yeah, the bubble comments are interesting. Uber actually provides a service that people will pay...even when the multiplier rates are in effect. This is hardly a pets.com or toys.com situation.



NYC has an alternative to cabs with the MTA. As shitty as it can be, it's still leagues better than say public transportation in places like L,A,

The MTA is actually pretty damn reliable.

 

[BigDug13]

Despite the annoying moustaches, I prefer Lyft myself. As a driver at least. The app isn't as clunky and you're able to set what nav app you want to use with it, while Uber makes their drivers use an iphone they send you loaded with just Uber and Apple maps. The Uber driver app doesn't have a direct link to navigation so you're forced to memorize the address, switch to Apple Maps, and type it in yourself. The Uber navigation to try to guide you to your passenger is garbage as well, pointing out a completely different location than where the passenger is, so then I'm forced to memorize the pick up address and type it in to a separate nav app.

Lyft's app for drivers simply works better. And their service is generally cheaper for the consumer.

It can also suck for short distances depending on the city. New York had a $12 minimum charge for any Uber ride, while a cab would be just a few bucks to get me to where I was going for short distance.

 

[Prez]

That is way ubervalued.

 

[Deleted member 284]

The MTA is actually pretty damn reliable.

Not disagreeing with you.It can have it's moments, but its really good considering it's daily load.

 

[KHarvey16]

Except for the fact everything they do is easily reproducible and you could make 50,000 Uber competitors for the same cost?

I don't think people are understanding how large a number 17B is.

If it's easily reproducible why aren't these types of services everywhere? Uber has a huge user base.

Quoted for irony.

Apple stock was $7 once.

 

[Baki]

Except for the fact everything they do is easily reproducible and you could make 50,000 Uber competitors for the same cost?

I don't think people are understanding how large a number 17B is.

Which shows you understand anything. They have built an actual infrastructure here.

 

[psylah]

I have never heard of this, and I'm going to be in Rome soon, and I can use it there. Neat!

I hope you like international roaming charges!

 

[BotoxAgent]

I lived and died by Uber living in SF. Regular taxi service is GOD AWFUL in that city, esp late nights. Uber has been a godsend there. Living in NYC now, taxi services is better and much nicer, so Uber isn't an extreme necessity.

 

[Chezzymann]

Never heard of it, weird.

 

[Skellig Gra]

While the valuation is way too high. Uber is a great service and totally destroys traditional taxi services. They provide a valuable service to people as opposed a lot of these other bullshit mobile companies.

 

[fugimax]

Except for the fact everything they do is easily reproducible and you could make 50,000 Uber competitors for the same cost?

I don't think people are understanding how large a number 17B is.

It's not easily reproducible. It requires a lot of capital to build up supply.

The big number in today's news wasn't the $17B ... it was the $1.2B in cash they got. That's a lot of money ... from a lot of people who know what they're investing in. If $17B was thrown out as a valuation without such a sizeable investment, I'd be more worried.

 

[King326]

With Uber you don't get the regular yellow coloered taxi's. It's actually those blacked out limousine style cars. I know a couple of people who work for it.

It's a taxi price but in a limousine. 1/3 the cost of limo service.

 

[Kazoo]

Good for them, I fucking love Uber. I'll never use a dirty taxi with their high rates and rude drivers again.


Yup, but they're background checked when they register to be a driver, and every single Uber driver I've ever had has been super friendly and their cars are always spotless. It's a great system they have going.

God Yes, used Uber several times in DC when cabs outright BS'd me on taking me where I needed.. Uber is pretty fucking awesome.

 

[KHarvey16]

With Uber you don't get the regular yellow coloered taxi's. It's actually those blacked out limousine style cars. I know a couple of people who work for it.

It's a taxi price but in a limousine. 1/3 the cost of limo service.

But also keep in mind that's only one of their services. They have uberx which is cheaper than a taxi and they also have a service that uses real taxis.

 

[dem]

17B seems a bit crazy..

Isn't this something that anyone could replicate? What do they really own?

 

[Valkyr Junkie]

With Uber you don't get the regular yellow coloered taxi's. It's actually those blacked out limousine style cars. I know a couple of people who work for it.

It's a taxi price but in a limousine. 1/3 the cost of limo service.

Not completely accurate as in some cities (like DC) there are yellow cab drivers that use Uber for fares as well. There's Uber, UberX, UberXL, SUV, and Taxi classes in cities that offer the full range.

 

[.GqueB.]

17B seems a bit crazy..

Isn't this something that anyone could replicate? What do they really own?

Mindshare is pretty big these days.

 

[legend166]

It will be interesting to see what happens the first time a driver uses it for nefarious means. All it takes is one mentally unhinged person to make people very nervous about the whole thing.

 

[KHarvey16]

It will be interesting to see what happens the first time a driver uses it for nefarious means. All it takes is one mentally unhinged person to make people very nervous about the whole thing.

Why is that more true of uber than any taxi service?