Grab/Ryde issues and charges

[Porker]

My taxi driver friend told me sometimes he gets to opt for payment in kind after picking up foreign ladies

 

Uber drivers have this incentive or not?

 

😂

He got it cheap. A hand job is $50 and taxi fares rarely surpass that 😂😂😂 Edited September 27, 2015 by Porker

[Enye]

He got it cheap. A hand job is $50 and taxi fares rarely surpass that 😂😂😂

Wah you so familiar with the market rates

 

Is that what Radx or tf4 charge you for hj?

 

😂

[Duckduck]

Rather than questioning its survivability, why not Uber short & long term strategy?

 

im not a scholar, so i fail to understand their short n long term strategy. Short term theyre spending more than they earn, so i duno wat is their long term strategy to return to profit. Increase fares? then no diff from taxis. Reduce incentives? Which driver will accept lower fares?

 

Their biz model just doesnt look solid n a huge hedge fund scam to find a greater idiot to buy them out ASAP.

Edited September 27, 2015 by Duckduck

[Porker]

Wah you so familiar with the market rates

 

Is that what Radx or tf4 charge you for hj?

 

😂

Did I say that's the market rate? Confuscious say "you go to jail bad boy" 😂

 

im not a scholar, so i fail to understand their short n long term strategy. Short term theyre spending more than they earn, so i duno wat is their long term strategy to return to profit. Increase fares? then no diff from taxis. Reduce incentives? Which driver will accept lower fares?

 

Their biz model just doesnt look solid n a huge hedge fund scam to find a greater idiot to buy them out ASAP.

Where did you get their numbers? I couldn't find the numbers online

[Duckduck]

Did I say that's the market rate? Confuscious say "you go to jail bad boy" 😂

 

Where did you get their numbers? I couldn't find the numbers online

 

from other forumer posted:

 

"And anyone see uber driver "no up", if one is hardworking enough, we are able to make a gross profit of $2000 per week ($100k per year) after less cost (rental, petrol, ERP etc).

My best income per week is at $4800.

Fares collected is at $900 and uber top up the rest due to exclusive invitation events & other incentives."

 

$2000 per week income but fare sales only $900 n rest are incentives... wow wat an amazing biz model... $ fall from sky .. of cse im jealous uber can burn $ coz i wish i was doing the burning instead of them

 

Edited September 27, 2015 by Duckduck

[Voodooman]

Sounds like a great sideline, mainline or retirement line.

 

Better to register a car using commercial license then. NCD can be transferred or sold?

 

 

You just need to convert auto insurance policy from a private use to a commercial use policy, if I am not wrong. But I doubt Uber or Grab will continue to pay up to 2k per week for x number of trips signed up. Once they become no 1 in market share, ie. 70-80%, possibly after consolidation, they will reduce those incentives and start to take back what they have paid out (via higher booking fees), including interest and an economic profit. Easy taxi alreay quitted Singapore market. So the current incentives may not last although with Softbank and Temasek backing Grab, the battle between Uber and Grab could go on for a while. Good for drivers.

 

Short term ok, I won't make this my long term career plan. Like many things, once your leverage is gone, you get pui at and your interest will just be an after thought. hahaha.....

[Nzy]

It's insane as a taxi driver working only 60 hours per week.

 

Yeah. Uber's incentives are good. Now more and more taxi drivers are also using the ubertaxi app to get more passengers and use the incentives to boost their income.

[Enye]

 

from other forumer posted:

 

"And anyone see uber driver "no up", if one is hardworking enough, we are able to make a gross profit of $2000 per week ($100k per year) after less cost (rental, petrol, ERP etc).

My best income per week is at $4800.

Fares collected is at $900 and uber top up the rest due to exclusive invitation events & other incentives."

 

$2000 per week income but fare sales only $900 n rest are incentives... wow wat an amazing biz model... $ fall from sky .. of cse im jealous uber can burn $ coz i wish i was doing the burning instead of them

 

Sounds like another dot com crash coming

 

😂

[Pinobii]

He got it cheap. A hand job is $50 and taxi fares rarely surpass that 😂😂😂

Err.....ur clean boy image tarnished Liao...😂😂😂

 

Happy mid autumn porker boy!

Average office worker start work at 9am to 6pm = 9 hours per day = 45 hours per week.

Commute to work each way 1 hour = 2 hours per day = 10 hours

 

Whats 60 hours which office is right at the carpark.

Last time when I was a branch manager for a SME, I worked from 7am to 12 midnight almost everyday which is average 80 to 85 hours per week.

Seriously working 80 to 85 hours is very very overworked

 

So 60 hours is lesser of the 2 evils I suppose :)

[Vhtfhwlego]

 

have u ever questioned how a coy survives by giving out more than it receives?

 

I don't need to question them regarding their operation profitability.

 

Look at things this way, how do anyone valued Facebook at 200billion worth company?

Once any company where to have their IPO, book value of their company is always future earnings.

If that the company were to crash, how many uber drivers will lose their job.

Being a us based company, they will likely to have a bail out if millions lose their jobs.

Some company after Lerman Bros almost failed and US gov said they are too big to fail.

 

If I'm a banker now, I will always tell investors uber is now worth us70b instead of the current us50b.

So 1% changes in their book value per hour; it is more then enough to cover their operations loses??

[Vhtfhwlego]

Seriously working 80 to 85 hours is very very overworked

 

So 60 hours is lesser of the 2 evils I suppose :)

Magically number for me to be motivated will be income of $100k per year.

Of course I will be as it would be the top 20% of my age group & top 3% of my educational background.

[Pinobii]

Magically number for me to be motivated will be income of $100k per year.

Of course I will be as it would be the top 20% of my age group & top 3% of my educational background.

That's a tidy sum, remember to save lotsa money as wont have cpf n also buy medishield insurance to cover healthcare :)

[Baal]

They have lotsa advertising on their sites? What details must the passenger provide to book 1? Are they data mining?

[Vhtfhwlego]

They have lotsa advertising on their sites? What details must the passenger provide to book 1? Are they data mining?

Till now, I yet to receive any complaints about customers having their cc mis-charged or email being spammed.

[Voodooman]

Magically number for me to be motivated will be income of $100k per year.

Of course I will be as it would be the top 20% of my age group & top 3% of my educational background.

Where are those data from? Keen to know across all age group and educational background.

[Camrysfa]

wow, 100k annual is really goods stuff - this 2012 article says to earn $6K a month as a taxi driver is a 2-man endeavour.

 

https://sg.news.yahoo.com/%E2%80%98s-7k-a-month-driving-a-taxi--possible--but-they%E2%80%99ll-burn-out%E2%80%99.html

Advisor to the NTA Ang Hin Kee told Yahoo! Singapore that in general, most taxi drivers earn slightly more than $2,000 a month after offsetting rental, fuel and ERP costs.

“Taxi drivers should not push their physical limit by spending more hours on the road to earn more,” he said. “I spoke with some of the more experienced taxi drivers and they have indicated that earning a net income of $6,000 is almost what two drivers take in with extra hard work. It is hence rather uncommon to achieve that kind of amount driving alone,” he added.

 

and this article says finding a job for those above 40 can be tough ....

http://www.straitstimes.com/singapore/job-fair-helps-mature-pmes-to-find-work

Gilbert Tan, chief executive of e2i, said: "In Singapore, or anywhere in the world, there is always a perceived preference for younger workers over mature job-seekers."

Close to seven in 10 long-term unemployed residents this June were aged 40 and above, according to the Manpower Ministry.

 

 

 

[Vhtfhwlego]

Where are those data from? Keen to know across all age group and educational background.

http://www.salary.sg

Recruitment companies, HR, CEOs

People which I have close connections with in iras/cpf.

[Enye]

Did I say that's the market rate? Confuscious say "you go to jail bad boy" 😂

 

Where did you get their numbers? I couldn't find the numbers online

You didn't say but it is implied in your statement

 

Sibei hypocrite still say you despise people who look for foreign ladies

 

😂