Last week we published a spreadsheet that gave every rideshare driver in the country insight into whether they are making more money driving for Lyft or Uber. I figured that article would be pretty popular since people tend to really care how much money they’re making but I was amazed at the response. That article has been viewed almost 500 times in the past 7 days and it’s clear that there is a lot of worry, angst and outrage over the latest fare cuts from Uber and commission increases from Lyft.
Related Article: Do Drivers Make More Money With Lyft or Uber?
The day after I released that spreadsheet, Uber went and made 20% cuts in most cities. Thanks a lot guys! So while I work on updating the numbers, I thought it would be a good idea to look at the whole picture when driving for Uber or Lyft. The pay is once again pretty comparable so it’s now more important than ever to consider all of the little things.
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Number of Requests
If you’re only getting a few requests per hour, these fare cuts are really going to hurt you. But if you’re constantly getting requests and transporting passengers you may be able to make up for the fare cuts with increased volume. Lyft and Uber like to tell us that all this price slashing increases ridership but I don’t buy it. [Read more…]