OT: Lyft and Uber IPOs - Page 4

fiamme red · #46 04-10-2019, 10:10 AM

Lyft's shares are at a new low. This can't bode well for Uber.

fiamme red · #47 05-10-2019, 05:13 PM

Not a great opening for Uber.

Ralph · #48 05-10-2019, 07:45 PM

Since no one has anything good to say about Uber, think I will buy some now that's about 10% below offer price. Or wait for a little lower. I like stocks no one really understands. Sometimes you can make big money on them before folks get them figured out. Roku a good example. I'm out of that now.... rode it 60 points, it's become too popular.

pbarry · #49 05-10-2019, 07:57 PM

Quote:

Originally Posted by Ralph

Since no one has anything good to say about Uber, think I will buy some now that's about 10% below offer price. Or wait for a little lower. I like stocks no one really understands. Sometimes you can make big money on them before folks get them figured out. Roku a good example. I'm out of that now.... rode it 60 points, it's become too popular.

Roku hit 80 earlier this week.
I chased Uber this morning and caught the car.

buddybikes · #50 05-10-2019, 08:19 PM

What "could" happen is a court case which will state that they are employees, not independent contractors, this will be a massive gamechanger.

pbarry · #51 05-10-2019, 09:17 PM

Quote:

Originally Posted by steveandbarb1

What "could" happen is a court case which will state that they are employees, not independent contractors, this will be a massive gamechanger.

Would be great for the drivers. Co. won't last if that survived upper court appeals. Doubtful, imo, as recent cases in other industries have ruled for the cos and not the "independent contractors". If the drivers organized, and struck en masse, that would be a game changer, and would lead to some meaningful concessions.

makoti · #52 05-10-2019, 09:29 PM

Quote:

Originally Posted by pbarry

Would be great for the drivers. Co. won't last if that survived upper court appeals. Doubtful, imo, as recent cases in other industries have ruled for the cos and not the "independent contractors". If the drivers organized, and struck en masse, that would be a game changer, and would lead to some meaningful concessions.

I'm an old union man, believe in them. I can't get too worked up about a group that undercut a group (cabbies) by working for less, accepting 0 benefits, avoiding regulation, and now cries because they don't like what they knew going in.

Ralph · #53 05-11-2019, 06:49 AM

I'm not a fan of "Independent Contractor" status for any group.....unless they truly are Independent contractors.

So Uber and Lyft drivers get 1099's at end of year, and are responsible for paying both sides of payroll taxes....usually in quarterly payments. Wonder how many do that?....How many are capable of setting aside payroll taxes as they earn money, so available to pay quarterly? Not many IMHO.

However....Ubber is much more than a cab company. I think they could show profitability real soon if they wished, instead of plowing cash flow back into business for growth. In some ways they remind me of Amazon some years ago, in other ways they are different.

verticaldoug · #54 05-11-2019, 12:59 PM

Quote:

Originally Posted by Ralph

However....Ubber is much more than a cab company. I think they could show profitability real soon if they wished, instead of plowing cash flow back into business for growth. In some ways they remind me of Amazon some years ago, in other ways they are different.

I don't think so. The model is hoping they can develop a autonomous car to replace the 'contractors'. They need to spend a tremendous amount of capex to develop it first. Otherwise, they have no competitive edge. You already have a space with WAYMO, CRUISE, TESLA, and this doesn't count the chinese or european projects.

And don't forget, UBER has a cavalier attitude towards regulation and safety which is one of the reasons their autonomous testing has higher incident reports and already produced a fatality.

slowpoke · #55 05-11-2019, 01:04 PM

Quote:

Originally Posted by makoti

I'm an old union man, believe in them. I can't get too worked up about a group that undercut a group (cabbies) by working for less, accepting 0 benefits, avoiding regulation, and now cries because they don't like what they knew going in.

I get it, the Lyft/Uber drivers crossed the picket line, but folks still need a way to make a buck, and our society hasn't really been friendly to the working person. And of course the best deterrent is pitting worker against worker, instead of pointing fingers at Uber and Lyft for operating unregulated taxis, with low prices subsidized with VC money.

BobbyJones · #56 05-11-2019, 03:57 PM

Quote:

Originally Posted by verticaldoug

I don't think so. The model is hoping they can develop a autonomous car to replace the 'contractors'. They need to spend a tremendous amount of capex to develop it first

And then they have to buy, insure, and maintain this fleet themselves, which cost is currently being passed off to said independent contractors.

Not saying it wont happen, but it'll be a long road to profitability even with autonomous cars.

FlashUNC · #57 05-11-2019, 04:10 PM

It's a gypsy cab with a fancy app. Their only hope for profitability is autonomous cars, which are a long, long ways out.

unterhausen · #58 05-11-2019, 05:27 PM

Quote:

Originally Posted by BobbyJones

And then they have to buy, insure, and maintain this fleet themselves, which cost is currently being passed off to said independent contractors.

Not saying it wont happen, but it'll be a long road to profitability even with autonomous cars.

Yeah, they aren't going to make it happen. They are basically getting a fleet of nice cars (which they insist on) and a driver for little more than what it would cost them just to have a fleet. In fact, it might be cheaper than the fleet. Autonomous cars aren't going to have more fares than those contractors.

They have experimented with how cheap they can make fares, but they probably need to experiment with how expensive they can make them. Their big advantage over cabs is the app giving people certainty over how much it's going to cost and how long it's going to take to get a car there. At least that is what I like about it.

rwsaunders · #59 05-11-2019, 05:38 PM

Airport car rentals are down too, so Hertz is renting cars by the week to Uber and Lyft drivers around here. I’ll also say that taking an Uber or Lyft to the airport isn’t cheap, but it’s been more convenient and reliable than taking a cab or the Blue Van shuttle.

pbarry · #60 05-11-2019, 05:49 PM

Quote:

Originally Posted by makoti

I'm an old union man, believe in them. I can't get too worked up about a group that undercut a group (cabbies) by working for less, accepting 0 benefits, avoiding regulation, and now cries because they don't like what they knew going in.

I get what you are saying, and I'm a proponent of the labor movement.

However the cab business was ripe for some competition. 25 years ago, NYC taxicab medallions were going for $300k, because of a cap on the number issued. Same for cities like Chicago. Before ride sharing apps came about, they were over $600k.

You could not hail a cab in Brooklyn.. Drivers paid $100 per shift for the cab use and medallion, and filled the tank on their dime before punching out. I knew one driver who had his own medallion and car. He worked part time and made bank.

This will work out somehow: After the fluidity slows enuf for regulation to catch up; unemployment goes even lower and ride sharing has to pay drivers more; drivers stop work and the house of cards tumbles..