Lexicus
Deity
I think you'd enjoy this piece:
https://mattstoller.substack.com/p/wework-and-counterfeit-capitalism
Uber and Lyft pay
- Thread starter civvver
- Start date
I think you'd enjoy this piece:
https://mattstoller.substack.com/p/wework-and-counterfeit-capitalism
hobbsyoyo
Deity
- Joined
- Jul 13, 2012
- Messages
- 26,575
For Uber, you have to have a car less than 5 years old. Lyft is probably the same.
I had a dream last night I was going to buy a new car, but I don't remember why.
Who started the "What did you buy thread"?
Probably a result of some deal with the auto industry. I'm guessing that because when I drove for Uber back in 2014, they only required a car that was less than 10 years old. I also remember auto makers back then we're blaming Uber and Lyft for decreasing sales by creating an environment where people didn't have to buy new cars.
So I wouldn't put it past automakers to make some kind of backdoor deal with Uber to tighten up their car requirements to "encourage" people to keep buying cars.
innonimatu
the resident Cassandra
- Joined
- Dec 4, 2006
- Messages
- 15,069
I'd seen it already
I was kind of surprised that the house of cards started falling with WeWork. Ridiculous though it was, I though that the "pseudo-tech bubble" would go on into 2020, and that this WeWork creep was going to join the multimillionaires club.
Hygro
soundcloud.com/hygro/
Hell yeah
It’s an old program and it’s super helpful. You need about $500 banked to make it work and after a week in the right market you’ll have another $700 dollars.
In San Francisco after bonuses you gross about $30 hour if you drive optimally. The distances are shorter too so less wear.
Ok everyone I’m gonna tell you: the best car for San Francisco to make the most money and cost you the least over a 3 year run is the cheapest black Tesla Model 3. The two catches is that you need a few thousand upfront and you *have* to work full time. With a black Tesla you have access to full luxury passenger options. Your maintenance costs of your car is brake pads, tires, and electricity. Estimated cost $0.10 mile. Tax return per mile? $0.50. You are effectively getting paid $0.40 per mile which after driving 150 miles a day five days a week a little under 50 weeks a year your tax benefit less driving costs over three years equals the cost of the car. Further side benefit, Teslas hold value way more than other cars so effectively after three years of grossing conservatively ~$50k/year ($40-95k) you have a free Tesla that you can keep or flip for like $20k and you’ve come out a little under $200,000 for your efforts.
We have some Teslas in the fleets I manage, and the CPK they're averaging is about double that.
I'm kinda negative on the long-term maintenance prospects too - sure, you cut out a bunch of complexity of ICE engines/transmissions, but modern ICE engines are very reliable anyway and the rest of Tesla's electronics (of which there are a lot, like most other modern cars) and mechanical bits (wipers, suspensions, steering, self-driving gadgetry) aren't notably reliable. The real kicker is how unfriendly Tesla is towards third-party repairs - with most cars, when they're out of warranty, you can look forward to cheaper aftermarket parts and cheaper labour rates than dealerships can offer for those repairs that you can't do yourself.
I also expect their current state of low-deprecation will revert to the mean once the pent-up demand is fulfilled and the used market becomes saturated with Teslas of every functional age.
Hygro
soundcloud.com/hygro/
I think the low depreciation as a whole will continue because they will stay functional. With 0.20 in cost per mile it is still likely the cheapest (and highest earning) option for a 3 year grind.
I'd expect staying functional long-term to increase their depreciation due to increased supply.
Used car demand is only tenuously linked to actual reliability, it's more strongly linked to perceived reliability, and the public at large isn't good at that.
Low depreciation cars are those where perceived reliability > actual reliability. (And vice versa)
Used car demand is only tenuously linked to actual reliability, it's more strongly linked to perceived reliability, and the public at large isn't good at that.
Low depreciation cars are those where perceived reliability > actual reliability. (And vice versa)
Hygro
soundcloud.com/hygro/
I see what you are saying and we will find out.
The sale of the car after is the least important part of the equation.
The sale of the car after is the least important part of the equation.
Hygro
soundcloud.com/hygro/
Again it’s not. You’re getting full access to all luxury rides for a $35,000 car that even at $.30 cents incentive per mile (instead of $.40 which is a more common estimate) the car is getting paid for with 3 years full time effort either way and your wages are higher for your time due to the vehicle classification.
The $20,000 difference in best case va worst case depreciation and resale is less than the tax offset benefits and *possibly* the higher wages (which I would guess over 3 years are in a range of $7,500 to $60,000 jump, probably around $15,000 out of my butt).
The $20,000 difference in best case va worst case depreciation and resale is less than the tax offset benefits and *possibly* the higher wages (which I would guess over 3 years are in a range of $7,500 to $60,000 jump, probably around $15,000 out of my butt).
I mean, depreciation is going to be the largest of your costs, other than opportunity, for pretty much any car you drive with Uber/Lyft, regardless of what your revenue situation is.
edit: The Model 3 probably is the best car to get for Uber/Lyft in many markets, I'm just making tangential arguments.
edit: The Model 3 probably is the best car to get for Uber/Lyft in many markets, I'm just making tangential arguments.
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Hygro
soundcloud.com/hygro/
Oh I see. Yes. And in that regard a 8 9 year old Prius depreciating in 3 years about $3000 is a lot less of a cost.
