Well, did you also know that this free market wunderkind is now cheaper than traditional black car services, faster and more environmentally friendly to boot?
Next Big Future crunched the numbers:
The math here is simple:
Uber’s demographic probably tends toward the higher end of the $5,000-$15,000 per year range (depreciation on a highend car, parking, gas, maintenance etc..).
At the high end about 882 uber rides and 292 at the low end.
Uber costs twice as much as a cab ride. But the median Uber ride only costs $24. That means you’re paying $12 more than you would for a cab.
UberX, is usually 30 percent less expensive than taxis.
Uber tends to save 54 minutes versus a cab. They arrive sooner.
Over the next few years, if Uber and other such services do reduce the need for private vehicle ownership, they could help lower the cost of living in urban areas, reduce the environmental toll exacted by privately owned automobiles (like the emissions we spew while cruising for parking), and reallocate space now being wasted on parking lots to more valuable uses, like housing.
I could see myself calling Uber and UberX (a black car service, for rides on special occasions, one of which was hanging out with libertarian party-monster Brad Lowry during his visit to the LNC Denver last year). It’s a simple service that not only allows you to “call” a ride via a phone app, but to track how close the ride is. Something few cab companies have ever considered as an option available to customers.
The numbers don’t lie, the free market is winning big with Uber’s disruptive technology.
An that’s scaring the hell out of central planners and cab monopolists.