Drivers and passengers have very passionate opinions about Uber’s surge pricing but unfortunately we really don’t know all the facts. Uber has never released much detail about how the algorithm works but today I interview a University of Maryland Professor who actually pulled data on surge pricing user Uber’s API and made some interesting conclusions.
I see new and even experienced drivers making mistakes all the time when it comes to surge pricing. In today’s podcast, you’ll find out what those mistakes are, how you can avoid them and how to leverage surge pricing to increase your earnings.
If you’d like to read a transcript of this podcast, please click here.
Intro
- I may need to buy new brakes! Firestone quote: $500-600
- Checking with YourMechanic soon to see what they charge to fix my brakes
- Goal is convenience, but also saving money. Will let you know what I find out!
- Started a new routine thanks to Rob’s advice
- All about keeping your mind and body in balance, especially when you’re your own boss
- An interview with Nick Diakopoulos
About Nick
- Teaches at the University of Maryland – College Park
- Focus on computational journalism and data visualization
- Wrote a great article on how Uber surge pricing really works
Learn How Uber Surge Pricing Can Help or Hurt You
- The Washington Post article discussed data gathered from neighborhoods in DC regarding surge price, estimated wait time
- Showed surge pricing does work – when surge on, decrease in wait time for cars
- Surge pricing changes frequently
- Cars redistributed when surge pricing is in effect, but it doesn’t mean there are more cars on the road
- Following surge pricing not always the best idea
What Can We Learn from Uber Data?
- Data gathered from Uber is helpful for urban planning, but we need more information than we currently have
- Tom Slee – The Sound of Silence and Uber’s missing data
- Possibilities for analyzing data from Uber is almost limitless, particularly helpful for cities and economic development
Outro
- Check out Nick’s website for more information, especially if you’re interested in data and analysis written in accessible way
- Everything we discuss on this podcast is about working smarter, not harder
- We cover surge pricing in our course at MaximumRidesharingProfits.com
- Know of anyone who’d like to discuss ridesharing, rideshare trends, or rideshare data? Contact me!
Show Notes
- Check out Nick’s website here
- Follow Nick on Twitter
- How Uber Surge Pricing Really Works on The Washington Post
- Uber and The Surge by Hottle and Rice
- The Sound of Silence by Tom Slee
- Episode 17 with Rob Saunders
- Our New Video Course: Maximum Ridesharing Profits
- Get $20 off your first service with YourMechanic with the code ‘RSG15‘
What did you think about our interview with Nick Diakopoulos? What do you think about the data Nick pulled in regards to Uber’s surge pricing?
If you’d like to read a transcript of this podcast, please click here.
-Harry @ RSG