Uber Admits Drivers are Very Dissatisfied


Dec 7, 2018
What City & State do you work in?
Long Island, NY
Uber's IPO filing had this very interesting tidbit:
“While we aim to provide an earnings opportunity comparable to that available in retail, wholesale, or restaurant services or other similar work, we continue to experience dissatisfaction with our platform from a significant number of Drivers.”
So, they want driver earnings to be comparable with that of those in retail or restaurant work but they admit they've fallen vastly short of that and that a "significant number" of drivers are dissatisfied. Interesting. Well, at least they know. But for them to admit that in their IPO filing and to use the adjective "significant" shows it's really worse than anyone thought. And it shows they're very well aware of it.
Here are a few more interesting bits from the IPO filing:
  • Dara is an at-will CEO. “We have entered into an employment agreement with Mr. Khosrowshahi, which is at-will and has no specific duration.”
  • Three-quarters of rides are international. “As of the quarter ended December 31, 2018, we operated in over 63 countries, and markets outside the United States accounted for approximately 74% of all Trips.”
  • Nearly 13% of global gross bookings are paid in cash.
  • Fifteen percent of gross bookings come from rides that start or end at an airport.
  • Drivers have earned more than $78.2 billion since 2015, plus $1.2 billion in tips since July 2017.
  • Uber had a 28-minute outage in February 2018. “…as a result of an error with one of our routine maintenance releases in February 2018, we experienced an outage on our platform for 28 minutes, resulting in Drivers, consumers, restaurants, shippers, and carriers being unable to log on to our platform in major cities, including Las Vegas, Atlanta, New York, and Washington D.C.”
  • The drama with Waymo isn’t over. “The independent software expert recently identified, on an interim basis, certain functions in our autonomous vehicle software that are problematic and other functions that are not. If these interim findings become final, they could result in a license fee or in design changes that could require substantial time and resources to implement, and could limit or delay our production of autonomous vehicle technologies.”