Uber losses

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buster said:
Over £30 from Durham to Fatfield from a Durham Taxi rank.

£22 for the same journey with Uber.

Tell me why I shouldn’t use them ?
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Your lift is currently subsided from Uber's investors.

Suppose it's good for the consumer short term. Long term less so, and the drivers profits will move from the UK to the US.
 
Struts said:
They had operators licences in Gateshead and North Tyneside but gave them back. Uber only really appeals to vistiors and students not to the kind of people who use taxis to get to the shops and back thus making them redundant in areas like Sunderland, Gateshead and North/South Tyneside where people are more loyal to local companies.
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they never actually held one in North Tyneside or Gateshead. Applied for one in 2015 & 2016 respectively but withdrew it after months of waiting for decision and didnt give a reason for the withdrawl. Anecdotaly it was because the councils were loathed to even consider a license for them and were pleased Uber blinked first (mainly because the existing rules in those LA's would have most likely meant Uber drivers wouldnt have passed unless they were exisiting drivers with other companies)

Gateshead is full of students from Northumbria Uni too so if it was that reason they hadnt worked out the massive student halls accommodation might have contained students
 
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Struts said:
No point. Station and City do the same thing for not much more money.


They had operators licences in Gateshead and North Tyneside but gave them back. Uber only really appeals to vistiors and students not to the kind of people who use taxis to get to the shops and back thus making them redundant in areas like Sunderland, Gateshead and North/South Tyneside where people are more loyal to local companies.
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It hasn't nothing to do with being loyal to local companies, it's because the NE has an ageing population, people are scared of change and auld gannies aren't using mobile apps to get a lift to the big Morrisons.
 
MackneyHackem said:
It hasn't nothing to do with being loyal to local companies, it's because the NE has an ageing population, people are scared of change and auld gannies aren't using mobile apps to get a lift to the big Morrisons.
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To be honest, I'd sooner send any elderly people in my family on their journey in a proper licensed cab than an Uber, and I use Uber fairly regularly.
 
In Sunderland would always rather use a local firm, however Uber is sound when you’re out the area and haven’t the foggiest of your surroundings.
 
Epping said:
Expected to announce losses of 5 billion dollars for the last quarter.

At what point do investors stop pumping dosh in.

Still has a market worth of 68 billion..
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They don't.

Uber are extremely aggressive in its investment strategy. They set out with the intention from the offset to raise capital from institutional investors and private equity with the specific intention to run at a loss and subsuidise operations until such a point as they dominate the market and/or issue an IPO.

Once they captured the market, they'll start to raise prices.
 
Dun Scathach said:
They don't.

Uber are extremely aggressive in its investment strategy. They set out with the intention from the offset to raise capital from institutional investors and private equity with the specific intention to run at a loss and subsuidise operations until such a point as they dominate the market and/or issue an IPO.

Once they captured the market, they'll start to raise prices.
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I know what the strategy is but how long does it take.. certainly as many local cabs about as there were.. if anything it's made more people use taxis
 
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