I will defend Uber/Lyft here. Their software finds the “clearing” price between passengers and drivers. If the fare is too high, fewer people will take Uber and prices go down. If the driver’s pay is too low, fewer will drive and the pay will go up. Uber earns the spread between these prices. Both can substitute Uber for something else: public transit costs $3, minimum wage pays $15. Uber drivers are earning an average of $5k/month, $60k/year! To put that in context, starting salary for a police officer is $40k, a teacher is $60k, a truck driver is $50k, min wage at 40hr/week is $30k. Driving a taxi is unskilled labor and should be paid min wage. Frankly, $30/hr is outrageous high. That’s why these drivers don’t hop to another job… they know Uber is still a good deal.Personally, I stopped taking Uber after the VC subsidized low fares ended. An MTA card and Citibike is enough for me.

I will defend Uber/Lyft here. Their software finds the “clearing” price between passengers and drivers. If the fare is too high, fewer people will take Uber and prices go down. If the driver’s pay is too low, fewer will drive and the pay will go up. Uber earns the spread between these prices. Both can substitute Uber for something else: public transit costs $3, minimum wage pays $15. Uber drivers are earning an average of $5k/month, $60k/year! To put that in context, starting salary for a police officer is $40k, a teacher is $60k, a truck driver is $50k, min wage at 40hr/week is $30k. Driving a taxi is unskilled labor and should be paid min wage. Frankly, $30/hr is outrageous high. That’s why these drivers don’t hop to another job… they know Uber is still a good deal.Personally, I stopped taking Uber after the VC subsidized low fares ended. An MTA card and Citibike is enough for me.

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