Is THIS Why Uber Is Paying Drivers So Little?

In this video, Sergio and Chris talk about how Uber's got debt that it needs to deal with and is that the reason why it's paying driver so little?

Join in the live conversation and share your thoughts or ask your questions on the Show Me The Money Club with Sergio and Chris live Tuesdays 6pm est/ 3pm pst.

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[theczar]

Let’s be honest. Head management at Uber is way way overpaid. This alone is a massive problem. This is where I think a correction needs to be done. When you’re that far and dead, you should not be paying your corporate executive officers the compensation they receive. They could be compensated but they gotta bring that debt down quickly. Not extended expanded extended expanded and they keep giving themselves raises.

[frankcrespo]

Honestly if there is no real global strike We are wasting time.

[wespaul]

Yep, Uber is using DRIVER'S MONEY to service their Debt. Drivers have Debt, Drivers have bills Uber is robbing Drivers. Uber should only receive 15% at most from what the customer pays. They are a Travel Agent not a transportation company. The individual Drivers are the transportation companies.

[russellhicks]

That’s an UBER Problem! What does that have to do with Independent Contractors? They didn’t incur that debt service.

The way UBER is rolling, they’re going to price themselves out of Business. Any smart business person isn’t going to run for cheap!

[GoTravel]

They could raise prices $1.00 per mile and give us half.. that would help both. Every industry gets a cost of living adjustment. Rideshare shouldn't go backwards when maintenance and everything else goes up

[brendaplunkett]

WHAT if you call an Uber and no one shows up? Because no one can afford to drive because you don't pay your drivers.

[MikeMike-hfps]

Debt? More like greed. I'm based in San Antonio TX. On Wednesday August the 7th, it seemed like a slow night. No surges around the airport. I switched to the Lyft app and I got a request for an airport pick up. The client was telling me that the rate for Uber comfort was starting at 90 bucks, he waited for a bit to see if it went down. Well 5 minutes later he said it went to 120 bucks, this was just for an 18 mile drive. Despite the hike for the client there was no surge whatsoever. So it looks like they are taking more from clients and giving less to the driver.

[donkeyplatz]

The fact is servicing debt is THEIR problem, not ours. We have to service debt, too. Do they factor that into what they pay us? Absolutely not.

[munhozsantorely]

Sergio what can we do to crash Uber stocks to o dollars

[RoadParity]

Plus, I wonder how well/poorly paid the general staff of the rideshares are? Then, to what extent does upper management propagate internal culture that keeps drivers down...making sure drivers DO NOT make more than internal staff!??

[bardigan]

I think Uber is getting insurance company kickbacks on the insanely priced coverage we all have.

[LALA-Nation]

They’re also paying off lawsuits they lost in NY and Massachusetts

[alexandergr]

The only one marking money are the investors 😅

[tawandabrooks]

Factor in both company's profit margin.

[alexsf]

Sergio you have the pulse of reality in real time. Uber’s first concern is to appease their stockholders. We drivers are just cannon fodder until autonomous vehicles becomes ubiquitous. What happens here in SF will happen worldwide. Uber and Lyft were created here and Cruise (GM) and Waymo (Alphabet/Google) used our streets for their pilot programs. Zoox (Amazon), is headquartered near by and is manufacturing their one of a kind prototype 4 seater that can drive in either direction just across the SF Bay. In SF for a large number of passengers money is no object, but their safety is top of their minds, once it becomes disseminated in the main stream media the information from the Wired Magazine you highlighted that fake accounts are as easy to get as a sandwich, autonomous vehicles will become a lot more attractive to the public in general. 😞🚙

[mikekomalley]

Does anyone who drives for Uber actually like the company? No. They treat drivers like crap.

[deranakullianjr.]

Don't forget all the law suits, in four years Uber has paid me just over, 105000 USD

[bryanstott]

Sooo... Uber is in same spot as USA and the workers are getting slammed by their job and their government 😂😭

[darrenhilton]

This is exactly why these companies will not win the rideshare race. They doomed themselves from the beginning with all the debt they incurred.

[barrera]

And Uber expects us drivers to drive EV by 2040? What a joke the Uber company doesn’t seem promising for the future.