Ride sharing companies and Reality
Originally shared by VAL-U-PRO CONSULTING GROUP, LLC - SRIKANTH KIDAMBI
This is the reality of share ride companies - MIT research study presented the following findings:
1. "74 percent of drivers earn less than minimum wage and the median profit was $3.37 per hour before taxes"
2. "Once vehicle expenses such as insurance, maintenance, fuel, repairs, and depreciation are taken into account, 30 percent of drivers are actually losing money while driving for Uber and Lyft in the United States."
Though these fundings were refuted by share riding companies with their own estimated numbers, still ride sharing drivers are certainly not making anything close to minimum salary needed to meet the ever increasing inflated living cost, and certainly appears to be not the way of employing the labor force.