Uber and Lyft drivers making $3.37/hr

This can't be right. I'm smelling some faulty logic from the MIT geniuses. I know a few people who drive and there's no way this is right. Drivers, what's up?

Uber, Lyft Drivers Earning A Median Profit Of $3.37 Per Hour, Study Says : The Two-Way : NPR

This can't be right. I'm smelling some faulty logic from the MIT geniuses. I know a few people who drive and there's no way this is right. Drivers, what's up?

 

Uber, Lyft Drivers Earning A Median Profit Of $3.37 Per Hour, Study Says : The Two-Way : NPR

I have often wondered how overall vehicle expenses will figure into the long term profit for most uber/lyft drivers.

Sort of makes sense after you factor in their expense: gas, as well as wear & tear on the car.

That also doesn't factor in tips.

In my experience, you don't make nearly as much money as Uber/Lyft want you to believe you will. You have to drive for HOURS to make any kind of decent money, unless you get a long fare mixed in.

Driver told me yesterday can’t make much money unless your car get 40 MPG

He drove a Prius

I guess my question would be, what do you count as expenses? If I work from my home, I'm not counting my house payment, home owners insurance, taxes, etc. as a work expense. I think that is what they're doing here. The drivers already have a car and are paying insurance. Sure, gas is an obvious expense and "wear and tear" factors in.

Driver told me yesterday can’t make much money unless your car get 40 MPG

He drove a Prius

Good point. Definitely a major factor.

Gas + Wear/Tear can get written off on taxes. Of course, that's not as good as getting paid up front/fronting costs of maintenance.

I had a driver in Louisville tell me he makes a min of $16/hour. Meaning if he works for 4 hours had has 0 fares, Uber pays him $16/hour. I'm sure this varies by location.

I wonder how much money this Uber driver made?

Drunk man blacks out, wakes up in N.J. after taking $1,6

I had a driver in Louisville tell me he makes a min of $16/hour. Meaning if he works for 4 hours had has 0 fares, Uber pays him $16/hour. I'm sure this varies by location.

They will do that for limited periods of time, but that is rare.

I use to drive for Uber a few years back. To make any kind of decent money you have to get a few 'surge' fares. If you are unfamiliar with what that means, it is a time where a lot of riders want rides but not a lot of drivers are around. You essentially get paid a premium for being in that area at that time. If you are not working during a high traffic time, it is very difficult to make a lot of money.

Made 285 dollars in 12 hours. I have a friend that makes 400 on Saturdays and 1000 every week.

Made 285 dollars in 12 hours.

Made 285 dollars in 12 hours.

Gross or net?