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(The Daily Press)   NY Times blames millennials for companies like Uber, Lyft, Airbnb increasing their prices in the face of unsustainable business models and failed policies   (dailypress.com) divider line
    More: Interesting, Venture capital, Startup company, companies' investors, Subsidy, cheap Uber, Silicon Valley, golden era of the Millennial Lifestyle Subsidy, room service  
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314 clicks; posted to Business » on 09 Jun 2021 at 10:24 AM (11 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



27 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-06-09 9:51:16 AM  
Ah, ok, so the whole Silicon Valley "move fast and break things" model for startups backed by buckets of VC monies is actually really just a handout to spoiled millennials, what with their avocado toast and all.  Well that's certainly...a take.  Sure is a good thing he's got a few random tweets quoted to prove his point.

FTA:

Uber and Lyft have been struggling with a driver shortage.

This is because driving for these companies with your own vehicle as an "independent contractor" is a sucker's game, and rarely worth it in the long run.  Driving a car like a taxi, compared to normal use, is absolute hell on said vehicle and a lot of drivers don't/didn't realize how much it actually costs in maintenance an upkeep to do so.  Uber and Lyft carved out their slice of market share by, among other things, outsourcing the cost of maintaining a fleet of Taxis to their technically-not-employees before they figured out the scam.

Jacking up prices after doing whatever it takes to acquire market share was always the plan.  Still is for every aspiring startup.  Author can go fark right off with this "subsidy" bs.
 
2021-06-09 10:25:22 AM  
I know a guy with a decent job who stocks Pepsi in supermarkets in the evenings for extra cash and free pop. I have considered applying to HomeDepot just for the discount. One of my friends works evenings at a hobby store for the same reason. I guess these folks just like to drive their cars into the ground or let people fark in their bed.
 
2021-06-09 10:26:59 AM  
I was unaware these startups were only usable by Millennials.

/It'll be interesting to see how many die out once they raise prices
 
2021-06-09 10:35:38 AM  
Actually, three article doesn't blame millennials, and instead blames investors on the whole "burn through cash to increase market share so you can IPO" model
 
2021-06-09 10:38:05 AM  
Speaking as a former newspaper circulation analyst: HAHAHAHAHAHAHAHAHAHAHA!
 
2021-06-09 10:44:25 AM  
It is amazing that the author of this article and articulate how a service such as Lyft or Uber has a mismatch between cost of service and price of service.  Realize that for instance a sandwich shop can't sell a $19.66 sandwich for $10.00 because it would be at a lost of $9.50.  State that "it's hard to fault these investors for wanting their companies to turn a profit."  I speak to too many people who don't realize this.
 
2021-06-09 11:00:08 AM  
They're not blaming millennials. They're explaining that all of your Uber rides were subsidized with VC techbro money.  That's over now.  They've cashed out on the IPO and now Uber needs to turn a profit for mom and pop investors, so they're raising prices.

Uber robot cars and flying taxis were vapor ware paths to profitability.  That was a story for the investors.   If you ever bought that story, you were one of the marks they were after.
 
2021-06-09 11:06:38 AM  

American-Irish eyes: It is amazing that the author of this article and articulate how a service such as Lyft or Uber has a mismatch between cost of service and price of service.  Realize that for instance a sandwich shop can't sell a $19.66 sandwich for $10.00 because it would be at a lost of $9.50.  State that "it's hard to fault these investors for wanting their companies to turn a profit."  I speak to too many people who don't realize this.


Oops

9.66

I reread the article and original thought it was 9.50 didn't correct the math.
 
2021-06-09 11:15:15 AM  

American-Irish eyes: It is amazing that the author of this article and articulate how a service such as Lyft or Uber has a mismatch between cost of service and price of service.  Realize that for instance a sandwich shop can't sell a $19.66 sandwich for $10.00 because it would be at a lost of $9.50.  State that "it's hard to fault these investors for wanting their companies to turn a profit."  I speak to too many people who don't realize this.


If the sandwich shop had billions of dollars of VC backing and wanted to use its superior capital position to corner the global sandwich market then selling a $19.50 sandwich for $10 might be absolutely the best approach.
 
2021-06-09 11:15:22 AM  
Yes, how dare Millennials ... use ... services.
 
2021-06-09 11:31:00 AM  
"Bourgeoisie royalty"

Oh fark right off with that tripe!
 
2021-06-09 11:42:35 AM  
"Experiences like these were common during the golden era of the Millennial Lifestyle Subsidy, which is what I like to call the period from roughly 2012 through early 2020, when many of the daily activities of big-city 20- and 30-somethings were being quietly underwritten by Silicon Valley venture capitalists."

Disconnected Weirdo Only Able To See World Through Clickbait Headlines.
 
2021-06-09 11:44:25 AM  

Bootleg: I was unaware these startups were only usable by Millennials.


Millennials embraced them, though. I know a couple of younger adults who don't know how to drive because of Uber/Lyft.
 
2021-06-09 11:48:35 AM  

snowshovel: Actually, three article doesn't blame millennials, and instead blames investors on the whole "burn through cash to increase market share so you can IPO" model



Indeed.  On that note, don't expect services like Disney+ to stay at $7.99 a month for much longer.  Particularly when their premium offerings on the service have all under performed market expectations thus far.  Eventually, someone has to pay the bill.
 
2021-06-09 11:49:00 AM  

iamskibibitz: Bootleg: I was unaware these startups were only usable by Millennials.

Millennials embraced them, though. I know a couple of younger adults who don't know how to drive because of Uber/Lyft.


yeah i do have to say for all the be more PC and more aware/enlightened/woke the millennials like to claim.
They were the group that seemed most happy to make use of the latest hot trend in worker exploitation for their own personal benefits. Acting all bang on about wage discrepancies  between women men and people of color, all the while their actions speak way louder : yeah everyone can be much more heavily exploited for my immediate gains of not having to walk the whole 20 min somewhere.
 
2021-06-09 11:51:02 AM  

PvtStash: iamskibibitz: Bootleg: I was unaware these startups were only usable by Millennials.

Millennials embraced them, though. I know a couple of younger adults who don't know how to drive because of Uber/Lyft.

yeah i do have to say for all the be more PC and more aware/enlightened/woke the millennials like to claim.
They were the group that seemed most happy to make use of the latest hot trend in worker exploitation for their own personal benefits. Acting all bang on about wage discrepancies  between women men and people of color, all the while their actions speak way louder : yeah everyone can be much more heavily exploited for my immediate gains of not having to walk the whole 20 min somewhere.


This is such a weird take.  Would the Uber drivers somehow be better off if people decided to walk instead of calling an Uber?
 
2021-06-09 12:04:34 PM  

OptionC: PvtStash: iamskibibitz: Bootleg: I was unaware these startups were only usable by Millennials.

Millennials embraced them, though. I know a couple of younger adults who don't know how to drive because of Uber/Lyft.

yeah i do have to say for all the be more PC and more aware/enlightened/woke the millennials like to claim.
They were the group that seemed most happy to make use of the latest hot trend in worker exploitation for their own personal benefits. Acting all bang on about wage discrepancies  between women men and people of color, all the while their actions speak way louder : yeah everyone can be much more heavily exploited for my immediate gains of not having to walk the whole 20 min somewhere.

This is such a weird take.  Would the Uber drivers somehow be better off if people decided to walk instead of calling an Uber?


Had services like Uber, Lift, ect  failed when their entire business model is to provide an existing service, but with different enough label and packaging to shirk regulatory overhead and eschew commitments and responsibilities to a workforce, then I think it reasonable to speculate that contractors scammed by the side-hustle culture might have found better employment options.
 
2021-06-09 12:10:37 PM  

v2micca: OptionC: PvtStash: iamskibibitz: Bootleg: I was unaware these startups were only usable by Millennials.

Millennials embraced them, though. I know a couple of younger adults who don't know how to drive because of Uber/Lyft.

yeah i do have to say for all the be more PC and more aware/enlightened/woke the millennials like to claim.
They were the group that seemed most happy to make use of the latest hot trend in worker exploitation for their own personal benefits. Acting all bang on about wage discrepancies  between women men and people of color, all the while their actions speak way louder : yeah everyone can be much more heavily exploited for my immediate gains of not having to walk the whole 20 min somewhere.

This is such a weird take.  Would the Uber drivers somehow be better off if people decided to walk instead of calling an Uber?

Had services like Uber, Lift, ect  failed when their entire business model is to provide an existing service, but with different enough label and packaging to shirk regulatory overhead and eschew commitments and responsibilities to a workforce, then I think it reasonable to speculate that contractors scammed by the side-hustle culture might have found better employment options.


If people are walking instead of calling an Uber they aren't going to call a taxi or a more highly-regulated car service either.

If you want to argue for employee status for Uber drivers and higher regulations, that's great, I'm inclined to agree.  But pretending that people deciding to walk instead of calling a car service will somehow improve the lot of the car service drivers is just deranged.
 
2021-06-09 12:17:38 PM  

OptionC: v2micca: OptionC: PvtStash: iamskibibitz: Bootleg: I was unaware these startups were only usable by Millennials.

Millennials embraced them, though. I know a couple of younger adults who don't know how to drive because of Uber/Lyft.

yeah i do have to say for all the be more PC and more aware/enlightened/woke the millennials like to claim.
They were the group that seemed most happy to make use of the latest hot trend in worker exploitation for their own personal benefits. Acting all bang on about wage discrepancies  between women men and people of color, all the while their actions speak way louder : yeah everyone can be much more heavily exploited for my immediate gains of not having to walk the whole 20 min somewhere.

This is such a weird take.  Would the Uber drivers somehow be better off if people decided to walk instead of calling an Uber?

Had services like Uber, Lift, ect  failed when their entire business model is to provide an existing service, but with different enough label and packaging to shirk regulatory overhead and eschew commitments and responsibilities to a workforce, then I think it reasonable to speculate that contractors scammed by the side-hustle culture might have found better employment options.

If people are walking instead of calling an Uber they aren't going to call a taxi or a more highly-regulated car service either.

If you want to argue for employee status for Uber drivers and higher regulations, that's great, I'm inclined to agree.  But pretending that people deciding to walk instead of calling a car service will somehow improve the lot of the car service drivers is just deranged.


You interjected the condition of limiting the sample size walking instead of using a ride-service.  That was not part of the original poster's thesis.  Which was simply, a generation eagerly embrace these services which leveraged significant worker exploitation.
 
2021-06-09 12:19:48 PM  

OptionC: American-Irish eyes: It is amazing that the author of this article and articulate how a service such as Lyft or Uber has a mismatch between cost of service and price of service.  Realize that for instance a sandwich shop can't sell a $19.66 sandwich for $10.00 because it would be at a lost of $9.50.  State that "it's hard to fault these investors for wanting their companies to turn a profit."  I speak to too many people who don't realize this.

If the sandwich shop had billions of dollars of VC backing and wanted to use its superior capital position to corner the global sandwich market then selling a $19.50 sandwich for $10 might be absolutely the best approach.


That isn't sustainable, as noted in the article there are several dead companies due to this concept.
 
2021-06-09 12:30:05 PM  
The cost of those services was always going to rise...  right after they broke the Taxi industry and eliminated any competition.

Don't misunderstand, I know there is a TON wrong with the Taxi industry, and in most cities it deserves to die an expensive death.  However, most people failed to realize that aside from certain proscribed-price routes (airports, etc.), most Taxis were already being operated very near the minimum price-for-profitability.  It's true the medallion system keeps more competition out of the Taxi business (and hurts independent drivers), but more drivers wouldn't have actually pushed the prices down much.  What pushed the price of rideshare trips below that of taxis was (a) VC cash subsidizing the price of every ride in order to outprice the competition, and (b) suckering drivers into taking up the overhead of maintaining a fleet.
 
2021-06-09 12:34:12 PM  
That's not what the farking article says.

The farking article says, basically, that a lot of these companies were, early on, intentionally pricing things below cost to gain market share and those that have survived the price war are now pricing their services at prices in which they actually make a profit.
 
2021-06-09 12:47:33 PM  

American-Irish eyes: OptionC: American-Irish eyes: It is amazing that the author of this article and articulate how a service such as Lyft or Uber has a mismatch between cost of service and price of service.  Realize that for instance a sandwich shop can't sell a $19.66 sandwich for $10.00 because it would be at a lost of $9.50.  State that "it's hard to fault these investors for wanting their companies to turn a profit."  I speak to too many people who don't realize this.

If the sandwich shop had billions of dollars of VC backing and wanted to use its superior capital position to corner the global sandwich market then selling a $19.50 sandwich for $10 might be absolutely the best approach.

That isn't sustainable, as noted in the article there are several dead companies due to this concept.


Oh, of course not forever.  But it can (and did) last for a very long time.  And if the higher pricing turns out to not be viable, so what?  We had cheap rides for a decade thanks to the generous donations from the venture capital industry.
 
2021-06-09 1:46:52 PM  

Rapmaster2000: They're not blaming millennials. They're explaining that all of your Uber rides were subsidized with VC techbro money.  That's over now.  They've cashed out on the IPO and now Uber needs to turn a profit for mom and pop investors, so they're raising prices.

Uber robot cars and flying taxis were vapor ware paths to profitability.  That was a story for the investors.   If you ever bought that story, you were one of the marks they were after.


But... But... there were all these articles in the news and on social media about how many companies were working on self driving technology and how close they all were.  They implied the tech was going to be here within a few years.  It was such a believable narrative being pushed by so many sources.
 
2021-06-09 4:38:18 PM  
I don't have a car, so I started using Uber fairly early on. The complete degeneration of the service over its lifespan has been pretty remarkable. As a system is barely functional at this point. I just use public transit for trips I might otherwise have used Uber for now. Public transit is genuinely quicker than Uber at this point.
 
2021-06-09 4:43:00 PM  

OptionC: PvtStash: iamskibibitz: Bootleg: I was unaware these startups were only usable by Millennials.

Millennials embraced them, though. I know a couple of younger adults who don't know how to drive because of Uber/Lyft.

yeah i do have to say for all the be more PC and more aware/enlightened/woke the millennials like to claim.
They were the group that seemed most happy to make use of the latest hot trend in worker exploitation for their own personal benefits. Acting all bang on about wage discrepancies  between women men and people of color, all the while their actions speak way louder : yeah everyone can be much more heavily exploited for my immediate gains of not having to walk the whole 20 min somewhere.

This is such a weird take.  Would the Uber drivers somehow be better off if people decided to walk instead of calling an Uber?


Would Foxcon workers be better off if they didn't build iphones for $3 a day?

Probably not, because being paid a pittance is probably better than not being paid at all if you like to eat. But it's still pretty exploitative.
 
2021-06-09 8:13:10 PM  
Was in Chicago last week and took Uber several times for trips of 2 to 3 miles. The basic cost each time was around $14. On Friday evening, the same trip jumped to $48. We took a taxi back and their cost was $15.
 
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