Rideshare platforms like Lyft and Uber have complex fee structures where driver compensation is calculated as a percentage of passenger payments after deducting external expenses such as commercial insurance, taxes, and government fees. The first month of Lyft's new 30% fee cap revealed that while the platform's take rate appeared to decrease, the actual driver take rate remained similar because the calculation method shifted from being based on passenger payments after external expenses to being based on passenger payments before external expenses. This means the percentage values changed (from 19% to 27% in some cases), but the actual dollar amount drivers received remained largely unchanged. The high external expenses, particularly commercial insurance costs averaging 28-32% of passenger payments, represent a significant portion of driver costs that platforms may be passing through to drivers.
Questioning Missing Tips, Lyft’s 30% Cap Reality & Uber’s Ping Screen Problem追加:
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What's going on everybody? It is Tuesday. Show Me the Money Club, which is live Tuesday, 600 p p.m. Eastern, 3 p.m. Pacific. Episode what, 110 already?
Or 2:10?
>> Two.
>> Holy crap. Holy crap. Well, yes. Episode 210. Uh, we got a great show for you.
But Sergio, what are you How you doing?
>> Good. Good. How's it going? Everything is good.
>> Summer schools are out.
>> Well, summer New York uh New York, it depends. If you're a senior uh in high school, you're graduating probably right now. Uh most of the schools go until about the 20th or so. So, there's a couple more weeks left. Uh but they also start, you know, right after Labor Day.
So, a little different, but uh yeah, schools are starting to go out for a lot of areas. Um and that means, you know, what's going to happen? Teachers are going to come on the platform.
Yep.
All right. Well, let's let's get into today's rundown because we do have a pretty big show for you. Uh we have special guest Bryce Bryant, CEO of Solo coming on talking about a couple of things there uh and what's going on new in Solo. Uh then we're going to go to our rapidfire run ride share talking about first collective bargaining agreement between Uber and gig workers.
Uh Whimos are everywhere in LA. Uh Uber insiders are selling shares. What's going on there? Uh Trump clears the way for corporate tax dodgers. Uh consumer watchdog SMT is appearance. Uh a little promo going there. And then chargers, uh, passengers can't steal.
So, that'll be pretty interesting. And then going in the main topics, more consumers are asking drivers if they receive their tips in the app. So, a little bit different. Instead of uh drivers asking riders what they may have paid for it or whatnot, now customers are asking if they got the tip in the app. Uh so that could open a pretty big door conversation between the courier and driver versus uh you know not. So uh this is happening. If it's happening to you, let us know in the comments as well. Uh then we're going to be talking about should Uber andyft update the guest rider rules. Uh Uber CEO says uh that they have blown through their 2026 AI budget in just four months. Microsoft has too. Uh Uber is offering shuttles to World Cup sta World Cup stadiums.
>> Another Uber ping screen notification.
Just load that up with a bunch of crap.
Uh Lyft is following Uber for multi-stop trips. The first month of the new Lyft 30% cap is over. What is it looking like?
>> And then should Uber andyft be considered common carriers? So we'll be talking about a lot of different things there. Uh we do have quite a bit coming up. Uh but of course we do want to thank today's sponsor and that is um hold on come on >> voice >> computer. Yes is voice express but my computer is screwing up right now. I don't know why that is happening. There we go. All right. Sorry about that. But of course what do we always see here on Show Me Money Club? Work smarter not harder. So, that's exactly why today's sponsor, Voice Express, makes so much sense. Instead of trying to remember every trip and every expense, Voice Expense automatically tracks your mileage, lets you log your expenses just by speaking. No start buttons, no spreadsheets, and no tax season scramble. So, if you're serious about maximizing your deductions, check Voice Express and use code RSG for a discount on their annual plan. Link is in the description. You can check that out.
and and the CEO of Voice Express, Felix Wong, is going to be on our show June 23rd. So, 3 weeks from now, he's going to be on our show to explain what it is and what it does. And I think it's a it's a wonderful, wonderful tool for and you know, I've been writing a lot more articles as you guys know. Um, pretty much in every article I'm just hitting on now what is your cost? Do you know your cost? Do you know deductions? You got it. Got to know that you got to run it as a small business as opposed to >> just be a driver. So, we're looking forward to the sponsorship.
>> Exactly. All right. With that being said, though, let's bring on Bryce, CEO of Solo, talk about what is going on on Solo, the new things and everything going on. Bryce, how you doing?
>> Good, guys. Uh, good to see you. Thanks for having me back on. I didn't know I was in the intro clip. That's uh very nice of you guys to include me there.
So, it's it's >> one you're one of our favorites, man.
Come on.
>> And then Dra Dra's picture with me. I think we need to take that out now.
>> We'll put Harry's picture with uh David Richer.
>> Yeah, David is I think Yeah. Well, I have one of those, but uh so welcome to the show again, Bryce.
>> Thanks. Thanks, guys. Uh it's great to be back. Uh I appreciate everything you guys do for this community. And so uh it's great to jump on and talk a little bit about what's going on in the industry as well as some of the new developments out there and so uh excited to be here.
>> Yeah, absolutely. So Bryce is a really good friend of the channel and good friend personally myself and Chris and known him for a while uh ex Uber but now he's on his way to create his own unicorn >> and uh solo obviously. So uh before we get into that uh just real quick maybe a couple of minutes of what Solo is and what you guys do for the independent contractor community.
>> Yeah that's happy to that uh Sergio.
Thanks and and uh uh my name is Bryce Bennett. I'm the co-founder and CEO here at Solo uh for those of you that aren't familiar but uh Solo is uh on a mission to make it possible for anyone to work for themselves. uh my background, my co-founder's background goes back to the early Uber days as as Sergio mentioned.
And so we have uh now about 14 years in this space of uh working directly uh with people that are going out on their own and starting a business of one all the way back to the very early days when everyone used to come into the office and actually get onboarded one one by one and do the background checks in person and everything. So very familiar with the space and we we've really enjoyed working with it and uh you know ultimately what we do is we help you earn more, keep more and stress less. Uh that's what we saw firsthand when we were at Uber and then at a company called Convoy with truck drivers is that uh you're really focused uh you know day-to-day on you know how do you optimize your time? You have to be your own boss. No one's telling you where to go, what job to do, how much you're going to make. That's a lot of anxiety.
And so we try to help you do that uh in a more simple way with lots of data, $6 billion of uh data uh behind our platform that tells you where to go and what job to do. And then we kind of in the background take care of all the administrative stuff that no one wants to take care of. Uh tracking your expenses, your miles. Uh we help you uh prepare and then file your taxes. We partnered with April Tax this year on that. We even store your documents. So, if you've got that TNC license or the business license or even just your driver's license, everyone knows those end up getting stuffed in the glove compartment. So, we can do that for you.
And then we work with a couple companies like Upside to hopefully get you the best deal on things like whether it's gas. Uh we work with a couple companies right now like River uh health on health insurance. Everyone knows the premiums went up on the ACA stuff this past year.
And so, uh, trying to kind of really build that full safety net for workers so that, uh, you don't feel like you're that alone out there, uh, and you feel like you've got a co-pilot with you that's actually got your back. And, and so, you know, we've been at this about five years now and we've had a little bit more than a million people join the platform. And so, very thankful for all the customers that u have given us enough trust to sign up and and work with us. Yeah, I mean like I said um you know I couldn't emphasize more that a lot of drivers just drive. They don't consider this as their small business and then when I say that they laugh at me. I go well your results are going to show if you don't treat it as a business. U you're going to complain and all you going to do is complain as opposed to >> this is your small business. You need to treat it as it is. And I'm I'm pretty sure Solo does an amazing amazing job >> in assisting that. You were talking about Upside, which is one of my favorite free apps.
>> Yeah.
>> And gas prices. Let's real quick talk about that and after that we get into what's new at Solo. Um so, um you know, I had an interview with Ryan Green of Grid Wise and uh let's see if your data corroborates what he was saying. So earnings are kind of okay to up couple of percentage points in 2026 except that gas prices are also up and then that's just kind of negating all that positive move towards maybe you know light at the end of the tunnel.
What are you guys seeing on your database?
>> Yeah, that's that's right. I think similar story um apologies for the siren going by in the background here but uh the uh similar story. We've seen that actually earnings are up. We posted a blog post. I'm happy to share it with the the group and everyone watching today. Uh but earnings are up actually about 6% so far this year in 2026 which you know is kind of the counter story to 2025 where they fell by about 3 to 5% and it's early in the year. I I should say that uh those things change uh and each city is its own you know marketplace where there's seasonality and and if you're listening out there if you're in Denver earnings have actually gone down a little bit. if you're out in uh actually Phoenix, they're up to start the year year-over-year. So, it does depend by pocket, but in general, across the board, 6% uh is the earnings increase so far this year. Problem is is that everyone knows uh with the conflict going on in the Middle East and the uh the gas is up 25 to 30%. And uh and that obviously is your biggest variable expense unless you happen to be driving a fully electric vehicle or obviously it's minimized if you're in a in a hybrid. But um that's going to drag on your net profit or your net earnings.
And so um unfortunately what we see is that while earnings are up on a per hour basis across the board uh you do see that uh the that increased expense as well as things like rising insurance costs, rising maintenance costs as in certain cities uh is a bit of a drag on that on that profit margin. And so uh kind of a a good news but with kind of a a caveat on the back end uh of what's happening out there for a lot of workers. And so uh the big question I think is ultimately you know how long does this go on? Do we see gas prices return to normal? Gas prices can also drive up other costs. They can also keep people from traveling right being less you know active or going out to events, restaurants, etc. And so I think the the second order effects in the economy I think will be interesting especially for demand in a lot of these rid share marketplaces uh the longer this goes on.
Uh and so hopefully that doesn't happen obviously for everyone uh in this space.
Uh gas is a big deal just like it is for the airlines and and something that uh as long as it uh we hopefully see a you know knock on wood a resolution here and and uh uh and gas prices come back down I think u the the higher earnings hopefully are good sign uh of resiliency for a lot of uh uh rid share drivers specifically. Uh >> I mean it's time because last five years we know what happened with inflation.
even know what happened with actual I mean adjusted the inflation earnings are down pretty much >> across the board. So I'm going to throw you a question >> and most CEOs probably won't know it but you you run such a tight ship you're so such a hands-on CEO that you probably know the answer. So you said there's about a million people on your platform that come to use right? Y >> um so I always wonder this and how many cities let's say are out of those million people probably you cover the whole US right small medium large >> yeah we've got all 50 states covered uh you know we cover with a high depth of certainty from a prediction perspective in the uh top 130 major metros. So I I think one of the smallest cities you know we'll cover is like a Spokane uh you know out out here in Washington. Uh so but yeah so mo just just about 95 96% of the population.
>> Right. So you have a pretty good handle on what's out what's going on, right?
>> Yeah. Yeah.
>> Almost live basically. Um so what is the best city to do gig work in price in the US?
>> Yeah. Well, if you're if you're looking just >> Okay. Give me give me top three. Top three.
>> Yeah. If you're looking just strictly from an earnings perspective. Yeah. Uh I don't think people are going to be shocked by these uh figures. Show me the money.
>> Yep. Uh Seattle uh is the number one place for earnings per hour. Uh which I I think it's up at about $35 an hour on average. Now Seattle has a somewhat unique regulatory environment where the state and the city uh have uh earnings floors and they kind of do a little bit more restrictions on the number of people that can join the platforms in the city. So, it is a little bit uh unique in that sense, but it is the number one city uh out here in Seattle from an earnings perspective. Uh New York is number two. Uh also pretty regulated as you might imagine. Uh the the base system out there in New York.
So, they're uh what they're pulling up the second place spot at about 28 $29 uh so far this year. And then uh this one actually may not be as obvious. It's not San Francisco. People probably expected me to say San Francisco. It's actually Boston. Uh, and >> I was just going to say that.
>> Yep. So, and ma Massachusetts does have a similar regulatory system to uh Washington or it has some parallels. And so, uh, you actually see Boston about $25 an hour so far this year.
>> Isn't Isn't it ironic that all the all the states or cities have some sort of regulation they can stand against, you know, Uber, Lift, machine, and and obviously we know what happened in Massachusetts. They're the top three cities. So, not not shocking to me, but uh so here you go, folks. That's why we have the Iron Man in Boston cranking three 3K a week, week after week after week, >> you know what I mean?
>> Yeah. I mean, and and you know, a good friend of ours, you know, Zack, right?
Zack drives fast.
>> Y >> um I made him a right share driver now.
He hasn't done a delivery for the last year and a half. All he's done is right share. He's killing it. He's legit just killing it.
>> So, he's he's be perfect for that, too.
He's got the right personality for it.
>> Yeah, he bought himself a Tesla and uh he's killing it. He's absolutely killing it. But um so, you know, enough about the earnings. Forget the earnings. No, actually that's the most important thing that we we we have going for ourselves.
But um so Solo has been around for five years, right?
>> It started with just a single purpose app. bring everything here, you know, almost like a but now I feel like you're moving towards becoming like a super app. Like we do everything. We do your mileage with your expenses, we do your taxes, we do everything for you, right?
And you keep building and so I know there's a couple of things that you want to talk about today, couple of new things that are coming down the pipe and uh so what are those?
>> Yeah. No, I appreciate you giving me the uh the opportunity to talk about these things, too. And I think uh we're equally excited about both of these uh big expansions for for workers and it's a result of a lot of the feedback frankly from customers directly and and so I'll talk about the first one which is actually the release of uh the very first AI tool built specifically for gig workers which is Sherpa. Uh and uh for those uh you know maybe not as familiar with our platform, we provide you a lot of data, a lot of information about yourself, kind of your profession, where you're working, what you're getting in tips, base rate, incentives, uh what you have in expenses, uh every mile that we track when you're when you're driving around the city. Sometimes it's a pain to go in and have to make sense of all that, right? It's a lot of information and and we did a lot of work in the early years to try to make that as easy as possible. But what Sherpa does is it helps you get all that information out with just a simple question or prompt.
And so uh we actually now have rolled this out to an uh select group of customers. And what you can do is you can use Sherpa. Oh uh thanks guys. Uh yeah, you're pulling this up for the the visual here. Uh what we you can do now is you can actually use Sherpa to do everything from what you might know us for, which is build your smart schedule.
Uh and so you'll see this uh be a little bit more intelligent. It's not just giving you the jobs and the hours and the amount you're going to make. It's actually telling you like, hey, let's build in a break for an hour here. This is actually the best hour to take a break. Uh here's where you probably want to uh avoid from a location perspective.
Here's where you might want to go to.
here's a few additional things to consider uh you know in terms of like why this is peak demand time and so your smart schedule just got smarter for lack of a better way to describe it and so you can do all that right inside of Sherpa now and save it to your smart schedule where you used to have to go through and select them each uh one by one you can also go through here and see uh a bunch of different prompts on your gig work as well as obviously working with us directly uh via solo support uh so we try to make that easier so you can get in touch with us if you have feedback if something goes wrong. Uh but then what we also do beyond just giving you your information back is that we also bring in all this external uh data that we have uh for every city in the United States and that's events right that might be near you. Uh and so uh this is going to pull up in one second here, but uh if you're doing ride sharing and frankly food delivery, it just just kind of depends or grocery.
The events or the happenings in your city, the seasonality of it very much impacts the demand. And so we can now pull that into one easy seamless place for you to to see what's going on, how that's going to impact how you might want to work in the not too distant future. we're actually going to pull in real-time traffic for you so that hey, if there's a road closure, I don't know, in the in Seattle, it's it's on 405, you may not want to go to the east side. Uh, and so, uh, you know, give you a little bit of the real-time insights there. And then, uh, we also, uh, bring you these broader marketplace insights. And so, uh, I know you guys always talk about this like run your life like a small business. Um, you know, think about it that way. Uh you'll see here in a second all the marketplace insights that we provide in the app pop up for you here in a much more easily digestible way.
I'm just on uh Door Dash here specifically in in this app uh or this demo. But you'll see that actually Uber andyft not surprisingly in Seattle it's the top earning city uh give you all the top earning times over the course of the week. So you get an idea of kind of what the range is. $25 an hour on average but up to $71 an hour on Mondays, right? So you get a lot more information. You get in a way that's far more um I think digestible. Um what we've seen and heard from customers so far is that uh it gives you a way to kind of interact with uh almost too much data that existed before and make it into something that you can actually use to take action.
Change the way you work in a city.
Whether you maybe work a little later, you work tomorrow. uh maybe you add that other job that you know you were thinking about because you have more confidence in how much it's going to pay you or maybe you're just wondering how you know is this expense deductible things like that and so that is all available inside of Sherpa and this is kind of the first version that's available to customers it's the first AI tool again built specifically for gig workers and it's on a mountain of data and what we're going to do is actually really expand and iterate on this very quickly in the coming uh months so that you know we you know for lack of a better way we were talking about Whimo before the show here a little bit really leveled the playing field and and put a bit of this technology in in the workers' hands rather than it always being in the companies.
>> Yeah, I mean this is absolutely amazing.
Seriously, I mean I I congratulate you and whoever came up with the name Sherpa, by the way, folks, you guys know what Sherpas are, right? Those are the people that help you go up the Mount Everest. So without those, you ain't going anywhere. And this is definite.
Yeah.
>> Well, I I appreciate that. We actually uh a little known fact is we have an engineering team in in Catmandeue and so uh we uh we're very uh appreciative of them and a little bit of a node to the the team out there.
>> Yeah, absolutely. I think it's amazing.
Whoever came up with it, give him a bonus price. Uh so is this is Sherpa by the way customizable for each individual or is it uh in general like uh I know you said it's different cities and this and that but is it general information for that city available to everyone or is it customizable to each individual gig worker?
>> It's both. So that's the nice part is you can ask it and I didn't have it in that demo there but you could ask it hey tell me how much I made in tips in this year. It'll pull up how much you made in tips, give you a report on it. Um, give you how that compares to others in your city. Uh, if you ask for your, uh, you know, 1099, um, or your kind of, uh, reported earnings for 2025, it'll give you a report out and where to download it and send it to your email. Uh, and so it is very custom to you, but while also giving you uh a plugin to that broader, more market uh level data that sometimes when you're out there, like you said, if you kind of just turn on the app and go to work, it's hard to know what's going on out there, how you're comparing. And so we we combine both those pieces uh together uh in Sherpa. And there'll be more uh data input soon.
>> Yeah, it's amazing. Absolutely amazing.
Congrats. So um so there is 70 millionish or so is if I if my number is correct independent contractors in the US is we only think independent contractors are like drivers and couriers and whatever they're not.
There's some nurses are independent contractors plumbers are and air conditioning contractors electricians and whatever. So I know you're getting some traction in those communities as well, right? And it it makes sense to go after that huge number of independent contractors in the US and they can use you can use solo for for their work.
Correct.
>> That's right. And and I think this was a uh a natural evolution and we again owe it to the the folks that joined us in the last few years. We started you know thinking about Uber and Lift uh drivers.
Um that was our experience, right? Um but we knew truck drivers and then we got to know delivery drivers and couriers and now we actually um the second thing we're announcing today is obviously the the release of Solo Pro.
Uh and what Solo Pro is is actually the extended or expanded kind of form of of the core Solo mobile app that you might be familiar with. And so what this does is it it actually helps uh serve people that are barbers, landscapers, cleaners, um you might do dog walking. Uh we have babysitters, traveling nurses, you name it. All these people are part of the 1099 economy. Uh and what we found is that a lot of people that might do those jobs also might drive with Uber >> or you know people who drive with Uber might also pick up uh you know a job in in one of these spaces. And we weren't serving both well enough. Uh and so uh you know one of the most powerful things we could do is bring all things those things together. And so Solo Pro uh is actually uh it's a brand new uh product uh from from our company and and if you happen to maybe do catering or another job. We have creators uh on the platform uh and you do multiple jobs uh this is going to better kind of encompass all of your professional life in one place. We do things like manage your customers for you. uh you can communicate with your customers which we know is from and we've heard is the toughest part when you have to manage clients one by one by one if you're a barber I don't know how many times I've heard from barbers when people don't show up screw up their whole schedule uh so you have an ability to not only manage the communication with them but manage the schedule uh manage the cancellation policy all via solo pro and then you also can take payment you can link your bank accounts and you can do that with the the uh gig app as well uh to your bank account so you can manage all your expenses. Uh so it's a a kind of an expanded version of what we do today. Um little bit different in that obviously we don't track all the income via the platforms like we do with the core solo app but uh a a group of people that we saw showing up looking for Oh thanks thanks Chris. I appreciate I know I fired that off to you quickly there. Uh but uh yeah this is a you know our landing page worksol.aiis I is for those that are are wondering about it. Uh we're doing a a big promotion right now where you you can join for free. Um and then also uh you know we are uh doing a bonus on every uh appointment that you schedule with us if you do some of this work. So um you know kind of a natural expansion of of the first group we started with.
And uh you know we're really excited because um you know we saw so many people signing up for the solo app that we're also doing this work. And so we get a chance to to serve really their whole business uh now end to end. So uh really excited about this this opportunity.
>> Yeah, absolutely. I mean, look, you're you're hitting on all cylinders, man. I I I think Hey, folks, they're not a public company, but don't worry, I'll hound him and we all get shares before they go public because I'm in finance.
So, we're not going to we're not going to let that one go because he's on his way to a billion dollar valuation here.
>> So, no, I mean, if you look, you know, I have a saying I have a saying about this. You know, if you build it, they will come, right? And you're building it, man. I'm telling you, it's just it's so refreshing to see what you're doing at Solo U up in the Northwest and and I think it's amazing. It's absolutely amazing. I've known you for a long time.
I don't kiss ass, Bryce, but I think you're you guys are doing amazing work up there with a small team, but sharp team. So, we have a couple of minutes remaining. If there's anything else, if I missed anything or if there's anything else you want to talk about, you can close us up for this segment.
>> Yeah. No, well, I I appreciate everyone listening. I'm sure everyone's really amped to hear your guys' segment and the topics you're going to get into. So, I appreciate, you know, having a second or a few minutes with everyone to tell tell you about what we're doing and I also appreciate what you guys are doing uh for the driver community because, uh, you know, there's not always a clear voice out there. um you know especially uh you know with as you mentioned in certain states there's not a lot of legislation there's not a lot of uh worker protection and so you know you guys bringing a lot of these important topics to the the forefront I think is is really uh important so appreciate that I I think for from our perspective um you know I I think just like many things in the economy right now I think uh gig work is is is tough it's a little bit in limbo right you know we like we talked about earnings are up but expenses are up. So, how do I feel about that? Uh, and so, you know, our two cents on this is that um just like many things uh in life when things are riskier, the more you can kind of uh diversify and hedge it. Not to get too down the finance route, Sergio, with you, but like multiple jobs give you uh you know, additional coverage, gives you additional options. Doesn't mean you have to work them in the space, which is nice. It's harder to do that, but we try to make that easier for you. And so I think the idea being that hey if you can add additional jobs, pick up uh you know additional sources of income uh we can help you manage that in a way that's not adding a bunch of stress to your life and uh you know you can hopefully ultimately make more or if one job kind of goes to a rougher spot we can uh hopefully help you get to get you over to another one. And so you know our platform is really built around the concept of whether it's good times or bad times. You know this group of people out there is is absolutely critical to the economy. It's a growing group of people frankly um you know the last 15 years and so uh we want to uh hopefully be there for you to to help whether it's with your something as simple as uploading your document or picking out which job to go to today or understanding whether that expense is actual actually deductible. Um you know we're here for you. So uh I really appreciate uh you know already the million plus people that have joined us.
Um, and you know, hopefully for those of you that maybe haven't listening, we get a chance to earn your trust and and get to show you what we can do to help you out. And uh, ultimately this is something that in many ways our our life work. So, we're very excited about it and um, you know, we're very thankful for the community we we get to serve every day.
>> Oh, absolutely. And and for me the two important words is optimizing and utilization and solo does everything for you. And in fact we have I think few customers here already and I know uh my one of my star snipers in Boston uh uh he says you know I'm going to look into solo pro for my other business. And then there was another one comment saying that I'm going to look for my babysitting business.
>> No I I I honestly think you're you're you're doing amazing work up there. And uh um I have actually a good friend that works at Palo Alto Networks. I was going to visit him >> this summer and um I think I'm going to come visit you guys too. So >> you should uh it's the right time to come up to the Pacific Northwest. So >> uh yeah, come on up. Let us know when you're in town, Sergio. Maybe we do a show from here.
>> Ah, that's always a possibility of that.
Well, Bryce, thank you for coming on.
you're a good friend and we're going to have you back on when you know Solo Pro and Sherpa keep uh getting some more traction and then obviously you're going to keep adding to the app. Uh congrats again. Um so great to see you. Have a great rest of your day.
>> Hey guys, thank you so much for having me on. Really appreciate it. Talk to you soon.
>> All right. Bye bye.
>> Thanks Bryce. Bye.
>> All right. So yes, if you want more uh information on Solo Pro, links going to be in the description as well as um if you are looking for uh the Solo app so you can use Sherpa and get some more information when it comes to getting out there and driving. Uh maybe there's things that you may not even know about.
You you been driving for a while and you're like, "Wait a minute, what's going on here?" Oh, no [ __ ] So u always good stuff there.
>> Well, you know, information is power, man, right? Information is the most powerful thing. It's gold. Data is gold.
Information is power.
>> It's providing you, you know, uh you just got to do the work now. Instead of hunting for the work, you just they present you with the work and you just got to be willing to do it.
>> Yep. Yeah. Another problem uh didn't make it into the show, but people are uh complaining right now that uh people are getting flagged for not picking up bags.
Um I've seen I was just made aware of that recently. So, uh, maybe we'll talk about that next week or not. But, uh, yeah, that is unfortunately one of the stupid things that they're flagging people on when it comes to driving now.
Oh, you didn't pick up my bag. Don't care.
>> Oh, I didn't see that one. All right.
Might be next week. All right.
>> Yep. All right. Well, of course. Hold on.
All right. Of course, we do want to mention Behind the Wheel, Sergio.
>> Yes, sir. We have a good one coming up on Thursday. We already recorded with Atlanta right share drivers union.
Folks, you guys always ask me, "How do I do this? How do I do this?" Well, you guys pretty pretty much you guys can watch it. They did it. They follow the playbook of Washington Drivers Union. By the way, if you guys were listening and if you joined us late, I asked Bryce that question on purpose. What three cities are the best cities to drive in?
They're the three cities that are regulated, folks. There are the three cities >> that which is Seattle, New York City, and Boston. Not a surprise, folks. Not a surprise. You need to stand up to Uber and Lift. You need to find yourself a friendly city council. Get in their ears. Start passing some regulations.
They'll come to the table. They'll give you what you want. It's no surprise.
But, uh, Behind the Wheel is coming up on Thursday. U, please go watch that.
You, they started the grassroots roots movement and they're growing like a wildfire. If you're in Atlanta, please get in touch with them. Atlanta Right Share Drivers Union. Um, just like Washington Drivers Union, just like Oregon Drivers Union, you guys got to do the work. You can't just open your mouth and say, "Put it here." You got to do the work, man. Anyway, but uh behind the wheel, um, you email me, you say, "I want to talk to you, Serge." And I go, "Sure." And then I'll send you a Zoom link, and then hopefully you won't ghost me, and then uh we'll record and put it on the channel. It's whatever you want to talk about. Uh, you know, as long as it's not politics or sports or whatever, um, we're good to go. So, email me sergeiothe ridguy.com for behind the wheel.
>> Yeah. And always good to hear different people's stories and things of what's going on. All right, with that being said, let's move on to the ride share rundown where we have a few different topics real quick that we're going to go through. I don't know if Sergio is going to make it 30 seconds or not. I I really don't. But uh um either way, the uh first collective um where is it? First collective bargaining agreement between Uber and Gig workers is now live.
>> Yeah, this is in Canada.
>> British Columbia. Yep. Canada.
>> Canada. Canada. Oh, Canada. World Cup is starting by the way, but we're going to talk about that in a segment coming up.
Boo to Uber. Uh um so uh if you guys see that, there you go. first collective bargaining uh agreement between uh Uber Lift drivers in Canada and Uber Azir Canada. It is possible folks. You just got to do the work. You got to be persistent. You got to be consistent.
You can't just give in. It takes time and most importantly, you got to be patient. But it is doable. And uh hopefully a lot more cities follow the Canadian route. that we know it's happening in the US in Boston in Massachusetts and a couple other places in Illinois. So, we'll see, you know, we'll see where it goes.
>> Yeah. Uh pretty interesting. But, uh the one thing said the drivers were agreed to be dependent contractors, which means they are employees for the purposes of labor law in BC.
>> Dependent contractors, not independent contractors. As Uber and Lip say, dependent.
>> Yep. Exactly. So, uh I don't know. I mean, you know, most of the people always again say that they don't want union. Um, but if that's the only way certain things can get done, you know, you might need some of that when it comes to the regulation. But, uh, who knows? I mean, you got to do what you got to do. And, uh, it'll be interesting to see how these things play out over time. Uh, if they're going to actually benefit drivers or if they're going to put on a dog and pony show and just try to line their own pockets. So, we'll see what happens um, and go from there. But uh we'll let you know. With that being said, let's move into LA's infestation >> infestation.
>> Bro, I was meeting a friend. This is if anybody knows LA, this is under the bridge getting to Sapava Boulevard. That light ahead is Sapova and Wilshshire. I had just gotten off the freeway. That's just the one of them. There were three Whimos right next to me.
And >> where's your cones, man? Where's your cones, >> bro? No cones. I'm in the middle of the road. But um I I was about to meet a friend for lunch in Beverly Hills and Chris, I've seen more of these zipping around in that little area than ever before. No wonder Grid Wise report says LA earnings are down 12%. These things are definitely definitely equal to three or four drivers. One Whimo, by the way, is equal to three or four drivers. And uh they're definitely taking some business, my man.
Well, um, got to get your cones out. If cones aren't working, bricks work. I mean, I mean, I mean, [ __ ] I didn't mean to say that.
Uh, but the reality is, uh, get them off the road. They're not ready.
>> Well, so I don't I you can't tell, by the way.
I couldn't tell if there was a passenger in him because the back window is really tinted heavily. And uh but uh there they there there I've saw more Whimos than I care for in that 2hour period during lunch. I was like >> ah we're starting to make a we're starting to make a hater out of you finally.
>> No I don't hate them but I I think uh you guys got to watch out for it. I mean if it's in your city and they're like multiplying like mushrooms you know they're going to take some business. And then you know I'm getting a lot of emails now search. I'm not getting any pings. I'm like, "Yeah, most of the time it's from uh people who drive in Austin or Phoenix or whatever. It's just uh you know, I mean, look, man, I don't know.
All I know is Zuks is coming now to to LA and the VW buses are coming with Uber to LA. I mean, LA seems like we're going to take it up to, you know, where >> Zuks here in Vegas are a big failure.
They're now free.
>> Yeah, I know. Well, I don't know. Don't write them off yet. But, uh anyway, so there a lot of those. I saw >> I don't know. But but either way, um, insiders at Uber are selling stock.
>> They are 4.6 million in stock. Could could be >> Uber stock Uber Uber stock is completely underperforming the market this year. By the way, a stock hit a high of about 110 is down to about 70.
>> That's down about 30% while the market's up 25% and some, as we know, some chip stocks are like a,200% in like four months.
>> Yeah. year to date is uh down 13.57%.
>> That's from the close of you know then but if you look at from the high all-time high to about I think 110 whatever it was. Yeah.
>> And so what I'm trying to say is that uh uh a lot of the insiders now this is all done pre-planned sales folks don't say oh they're just jumping off the sinking ship or anything like that. Um because because the cost basis for these people is zero right? They get these stock options and then they sell it. But there's a lot more now insider selling at Uber. Uh it may or may not signal anything substantial, but uh definitely specifically Jill Hazelbaker who just was appointed number three or number four at Uber. Uh she sold a bunch of million dollars worth of stock and uh yeah, they're all selling, man.
>> Yep. Yep. Yep. Yep. I I sense a little hole in their business thing, especially the fact that uh their AI budget is uh already done within 4 months. So, we'll talk about that later, but uh I mean that could have some impacts and a couple of the things that they're trying to roll out. All these acquisitions and costs um are quite substantial. So, um I mean it could signal something or it just might be, you know, sometimes sometimes this happens. So, we'll see.
All right, let's uh let's talk about uh clearing the way for some tax dodgers.
So Trump clears the way for corporate tax dodge hidden in the fine prints.
>> Yeah. Um they uh skirted at least 40 billion US companies in taxes since the beginning of 2025. Places like Malta, Bermuda, and Cyprus of all places. And one of the companies, one of, as you guys know, by the way, you know, when you guys look at Uber, Uber, it says Razir, Inc., right? Uh that's a European company, by the way. Um, so one of the companies that has taken advantage of the tax dodging laws, uh, obviously Walmart and Uber and Mastercard and Pepsi and Crocs and Merc and Honeywell and Sigma to put 40 billion in taxes they avoided in perspective. It would be enough to triple the annual budget of Federal Aviation Administration. I get that. But uh, I think um, these are all laws that these companies take advantage of. If I was Uber, I'd probably do the same thing.
>> Yep. Quite interesting.
That's a lot of money that's uh not being accounted for. So, >> well, yeah, but you know, I mean, there's a lot of money. You know, Apple does it and Ireland and Google does it.
They all do it.
>> And uh you know, it's not, by the way, it doesn't violate any laws. Uh but the IRS says some of the companies have gone too far. I'm like, well, we'll find out.
>> Yep. Well, we'll see if they try clawing anything back.
With that being said, let's move on to the next one. Uh, Uber exec Camala Harris's brother-in-law could benefit from Trump backed tort reform.
>> Talk about consumer watchdog.
>> Was this our promo? Right. This was our promo.
>> Yeah. Okay. So, uh, folks, please, please tell everyone to join us next week, June 9th, uh, Tuesday, 3:00 p.m.
Pacific, 6 p.m. Eastern for Show Me the Money, episode 211, where the head of Consumer Watchdog, Jamie Court, is going to be our guest.
We're going to talk about in detail about all these things that uh, they write about. But not only that, they alleged that uh it's almost like a scheme, moneyaundering scheme going on with captive insurance companies in Hawaii.
And both Uber and Lyft had it since 2019.
And guess what 2019 is, Chris? It's the year that went public. Um, and we always questioned why these commercial insurance rates are out of control on every trip that you guys see.
And uh we talked about that last week in detail, but we're going to talk about it more in detail with Jamie Cordo, consumer watchdog. And now actually they're making the connection between Tony West, who is Kamala Harris's brother-in-law. How long have we been talking about Tony West and the connection, Chris? About two and a half years now. Three years.
>> So yeah. So now >> couldn't have been that. Yeah. Yeah.
Yeah. Yeah. Yeah. Yeah. Wow. It's already Wow. It's already been that long. Holy [ __ ] >> Yeah. It's been that long. So, uh, you know, we're going to dig into this a little bit more. I'm very very interested in, um, this captive insurance situation that's going on. If, if they're really pocketing the money on increased commercial insurance rates on each trip, because look, if the commercial insurance rates are getting pocketed, first of all, the rider is paying for it, but you're making less because the commercial insurance rates are so high.
So, it affects both the rider and the driver. Both sides are getting screwed if they're doing it. And I I don't know if it's illegal what they're doing and I I I think these companies have their [ __ ] together. Uh but it's definitely worth looking into it. Um and uh you know, we're going to talk to Jamie Court next week.
>> Yep. That'll be a good conversation. And then lastly, of course, we want to talk about uh uh a car charger that you can't steal. So for all those people out there who are like, >> uh my car charger keeps getting stolen.
I'm not going to be offering anything or keep them uh keep it up front if you don't want to do deal with it. Uh they got this thing right here. So, it attaches to your uh um seat right there.
And then uh you know, it's a it's a windup. So, you got a couple of chargers on there and then uh you know, you don't have to worry about uh any sort of shenanigans or forgetting because well, they can't take it.
>> That's true. I talked about that last week on the show that I don't provide charger anymore because every time I put one back there >> now maybe you might >> it gets stolen now I will I like I mean we have nothing to do with this product actually a viewer watched this and then sent me the picture of it he goes now they cannot steal your charger this is what I have in my car I'm like oh cool I go yeah I like it um it's pretty unintrusive and then you just pull it I'm sure it's on some sort of a you know >> and and don't buy it right now 20 days is uh Amazon Prime days again. So doing the June they're doing the June days in about three weeks. Um so uh don't buy it yet because I'm sure it'll be in discount at that point unless you want to do something like that now. Uh but I would definitely wait just to save a little a few bucks here or there.
>> Yeah, absolutely. And I will definitely get one of these. And then uh it looks like it has it for iOS, Android, you know, all the different charger stuff.
>> Yeah. Well, I mean, they're pretty much all USBC at this point. So, if you got a lightning cable still, dude, what are you doing?
>> Yeah, >> they changed it three years ago. New phone.
>> Yeah, exactly. So, anyway, so thank you for >> Thank you for sending this to us. We appreciate it.
>> Yep. So, that's a good one. But, uh, good and good catch for the person who sent it because Yeah, that's what we were talking about last week. I And I I said the same thing. I got I got it all up front. So if you want to charge, you got a C cord, but it's sitting up front.
So there you go.
But uh yeah, so that's the rundown, Sergio.
Little over a little over half 30 seconds, but that's okay.
>> I I think I think they're uh I think the chat will be okay with you doing that.
All right.
>> All right. Let's let's get into our first topic and that is uh a unique thing because now customers are asking drivers and couriers, food delivery drivers if they got the tip.
>> Well, news like see just Alex Bidder, a good friend of the channel as you know, Chris Business Insider, right?
you know, we we we take our victories when we can and we sure had some a lot of good articles in the business insider come out talk about driver issues and things like that and Alex is always amazing ear uh you know to have and good friend so he wrote this article um >> because the customers know now that the tips that they're putting on the app may be getting bamboozled by by the companies and it has happened by the way folks it has happened door dash door dash got behind and they return the money. And a lot of you email me say, "Serge, they stole my tip." I'm like, "Do you have any proof?" I go, "No, I can't prove it, but I know they stole my tip." I'm like, "If we have like because that's one thing, folks, that they cannot do. If they steal your tip, swear to God, that three-letter agency will shut the company down.
>> If you can prove it, if you guys have proof, please send it to me, please.
Pretty please." But now the customers are hearing this in the media, Chris, and they're saying, "Hold on a second.
I'm putting my good earned tip in there for the driver. It's not for the company to get involved. And now they're asking their drivers and couriers. Did you get the tip, by the way, that I just sent you? And that's an awesome thing to hear. That means it's getting into the consumer eyes and ears. And I'm very happy about that.
>> Yeah. Um, and it just makes that conversation much better and much easier. So, if you're getting that from your customers, you know, you can have a much better conversation between what's actually going on um and see if the numbers are actually lining up properly because we did have a couple of things where there were discrepancies, but it is one of those things where we had to kind of trust the person because it was a he said, she said, and it was a story versus actually having screenshots. Um screenshots obviously are number one. uh if you can get screenshots that show that things don't add up. And this was a story that we talked about maybe about six weeks ago. Uh and this was where the uh driver was being shown a different price than the passenger because they were getting some sort of promo um and it things weren't adding up. So it was kind of one of those things where we had to kind of take the person's word for it. Um but yeah, this opens up conversations a lot better. So, if the customer is approaching you and saying, "Hey, did you get the tip?" or anything like that, it makes that conversation so much easier. So, if there are any discrepancies, this is where you need to make sure you take screenshots, especially if they're like, "Hey, I gave you uh a $10 tip and it's only showing at $6 or something like that." Um, you know, that's the problem. Um, but the the real problem is isn't necessarily the tip going through. You know what it is? It's the adjustment of the fair because there is a tip involved. So to me that I think is the biggest egregious problem and that is let's say you're going to deliver food for six bucks.
Okay. Well now there's a $10 tip involved. So there's a $10 tip but we're going to bring that fair down to $2 instead of $6. So we're going to take away $4 of your uh tip there. And that's essentially stealing their tips uh without actually stealing their tips because they're just changing the numbers and they can do that on the fly.
So that to me I think is the biggest problem here and that needs to be something that is truly truly addressed.
So that is where you got to look and say okay there's tips coming in in this what's the base fairs on these versus what's the base fairs without tips and kind of do a calculation to see are there severely uh limited or not severely um what you call it are there statistical significance difference between the two and if there is then you know you got something here where the algorithm is adjusting because there's a tip involved >> yeah I mean with upfront fairs, right?
Since upfront fairs, we've proven and got drivers some money on all kinds of shaving, right?
>> And shaving is possible because of upfront fairs. And you know, because that that Algo is adjusting the base fair any which way it wants and any which way it's programmed. So, you know, that's the that's the downside of of Up frontiers. Yes, up front fairs there's some good stuff that goes with it. But uh but I'm very glad I'm very glad that the consumers are finally waking up to it. And uh and a lot of consumers now are saying, "Well, I don't trust the companies. I'm going to tip you tip my driver in cash." So, you know, we had a saying in delivery or you know, mostly in delivery, no tip, no trip, right?
Well, if you do get uh a decent base fair on a, you know, on a trip or a delivery without a tip, maybe you're going to, you know, the chances of you getting tipped in cash is higher now than before because the consumer now kind of goes, you know what, I might as well hand him the cash so I know it's going directly to the driver. Good job, Al, uh, you know, Alex Bidder at Business Insider. I'm glad that the consumer is waking up.
>> Yep. Uh if you actually have proof of this then send it to Sergio serge the right guy.com.
>> Yep.
>> So that is um a good thing. But yeah, I mean that that's the biggest problem. It it these these fairs have to be tied to something in my opinion. They have to be tied to time and mileage or they have to be tied to something that is tangible in terms of the distance and the time that it takes to get there. Because if it's not, then it's too easy for the company to absolutely adjust and say, "Oh, well, you know, it it this one's only uh $2.
What are you going to do about it?" And then they can't say, then you can't go back and say, "Oh, they stole my tip."
But I mean, if they do that, and I'm seeing plenty of people in chat saying that's exactly what they're doing. I don't do food delivery, but I quite know what is going on. So, um, if there's things that that you can show, like if you're keeping track of everything, show me the the if if you can I doubt you go this far, but if you have something like um base fair plus tip plus uh mileage or time uh and then get like the similar trips that are there and then kind of see what the base only versus the base plus tip. Um, that way you can start extrapolating some of the data from that.
>> Yeah. I mean, you know, you said that the fair has to be based on something, right? You mean something like Seattle and something like New York City? Yeah.
>> It's got to be based on something. It can't just be this magic number that they throw spitball to the wall and say, "Oh, we're going to try pay that one."
>> Well, now we know the highest paying cities, highest earning cities for drivers. That's because it's based on something which is miles and minutes.
Exactly. So, um, yeah, definitely got to know that. All right. So, uh, should Uber and Lift update the guest rider rules because recently a Jacksonville family bought a stranger an Uber. You thought that was a nice thing, but later they found out that he was wanted for murder in a triple stabbing.
>> Can you [ __ ] believe that? I mean, seriously, >> what is wrong with uh I mean, look, >> actually, there was a and there was just a triple homicide like right down the street from some from people that we that live that we know that live right there.
>> Yeah. And and and to me, you know, look, we do get a lot of guest uh trips ordered by other people, right?
>> Yeah.
>> In fact, that poor lady that got uh murdered with four kids in Pittsburgh, right? And that was a guest trip, by the way. Uh where the [ __ ] just kind of drove her into an area and killed her.
And uh you know, I think the these guest guest trips have to get get redone.
Okay. We need more safeguards for the driver community for them to This is a case that's obviously an edge case.
Okay.
>> But that guy that was in the car with that Uber driver >> who had just committed a murder, triple murder, >> right? He could have stabbed the driver as well, right? Well, luckily it turned out okay, but then he was arrested afterwards. But what I'm trying to say is that this this good Samaritan thought this guy needed some help and ordered a guest trip for this killer. And um and sure enough, a car came and picked him up. So, I think I think we need to really seriously look into the safety aspect. Well, we know we we're looking into the safety aspect with with an actual driver who's, you know, being summoned by the actual account holder, but a lot of guest chips do happen. And I think it should be the, you know, look, we're going to talk about in the next couple of segments how Uber is filling up that ping screen with useless stuff, right? The VIP thing that we talked about and all these other things.
We're going to talk about another one today. Um or last week we talked about >> expected weight time >> expected wait one minute. I'm like >> average wait time one minute. What?
>> Yeah. On all of them are still one minute by the way. We're still waiting for that minute to expire. But um I think they need to put something valuable on the screen just like they do with Uber Teen, right?
Just like they do Uber share.
>> Top tipper.
>> Top tipper. Well, they took the >> That was that was fantastic.
>> Yeah. non-tipping passengers that are like, "Oh, why are they showing that?"
>> Yeah. Well, you know, I don't know why they stopped that. I think that was something every driver loved it. Uh, but long story short, I think they should put something valuable on that screen and say this is a guest trip is. And you do see that on the background once you accept the trip. If you go click the three dots, you will see it's a guest trip. I don't think you see it on on Lift, >> but I think you definitely see it on Uber. But then you have to accept the trip first.
And what I'm saying to Uber and Lift is why don't you put that on the screen.
>> Saying it's a guest it's a guest ride.
>> Yeah. And >> that would definitely be helpful.
>> Yeah. Absolutely. So as will be safer, right? You know, I'm going like Yeah. Uh I think that's something we could work on. In fact, I have a meeting with Lyft on June 10th and I'm going to it's going to be one of the topics. I go, you want to make things safer for the driver? Put that up there.
>> Yeah. Um, but what do you guys think?
Put in the comments. Let us know.
Clearly, we want to know. Um, I think I mean, yeah, unfortunately, something like that is an edge case. You have no idea. I mean, those people were just trying to be like good Samaritans and get the person somewhere. Um, I don't know the full story behind that. Um, but, uh, I'm sure that there was more details that you just still have questions on. Um, but yeah, it's something where you just don't know who you're running across. You don't know who's who you're coming in contact with.
And you know, I I heard a stat back in the day uh a while ago, and I don't know the exact numbers, but it's like, you know, out of x amount of people that you walk by every day, one of them has been has killed somebody else. So, it's like, and you just don't know. Um you just hope that they're on their meds or that they're they're reformed or, you know, something and you know, you pass it by like you don't even think about it. But, uh if you actually knew um you know, might might make you think a little bit differently or something. So, um, unfortunately, it's the world we live in and, uh, it seems like it's only getting worse with the loosening of, you know, all of these these problems that we're having. So, um, I don't know. When it comes to guest rides, I got a strict policy. If there's not accountant holder there, I ain't moving.
>> Yeah, >> you can get a different ride.
>> Yeah, >> that's my that's my policy. If you got a if you want to take the ride, by all means, do what you want to do. But uh um there's got to be some sort of accountability there.
>> Yeah. Well, we'll see. We'll see where we can go with this. It's it's a good idea though to put that on the screen.
Yeah. This is a guest ride ordered by this person.
>> Yep. That wouldn't be bad. All right.
Well, let's move on. Let's talk about how Uber CEO says that it's getting harder to just justify the money spent on AI token maxing.
>> So, is AI a bubble?
>> Is the big question. Uh, >> according according to Jensen Wong and according to uh uh the other one, what's her name? Um, oh my god. From from uh AMD.
>> Oh, it's it's they're cousins, by the way. So, >> yeah, I know. Uh, according to both of them. Oh. Oh, no. God, no. There there's no bubble. Not at all. In fact, we're actually gonna go further. Um, of course you're gonna say that. But Microsop and Uber who relied on vibe coding are now seeing the sticker shock when it comes to the tokenization which for those who don't know when you do a query into one of these uh LLMs or into something like Claude which is kind of the vibe coder um you are starting to see that the the amount of tokens that it takes the compute power is going for a number of different reasons. One, more people are using it, so demand. Um, another thing is supply, which means the amount of data centers and and power and all of this is is not as much either.
So, all of these things are kind of combining together, which is increasing the cost associated with d with with um, you know, driving these tokens. And so unfortunately what you're seeing is now or or fortunately depending on on what uh what side of the coin you're you're falling on uh when it comes to AI is that uh now it's actually becoming more expensive for a company to use AI vibe coding versus the people that they are trying to replace it with. Um so is it actually going to be worth it in the long run when it comes down to it? I don't know. I mean look man um I don't know if AI is uh you know bubble or not but you know I'm in the market and certain things are definitely moving like they're in multi-deade bubbles but the point is >> oh yeah >> you guys all ask where does Uber spend the money they don't have any expenses well there you go right there they blew out of their budget in four months and uh Uber does spend money folks they have 33,000 last count employees and probably 8,000 of them are coders and Uh yeah, they they do spend money on sinister [ __ ] like upfront fairs and things like that and algorithms and whatever not.
But uh yeah, uh Andy Andy Mack now is number two. I I you know what? I'm going I'm gonna make a bet with myself here.
Okay. I'm going to say Andy Mack is going to be the next CEO of Uber.
>> Very possible. Very possible.
>> You know, uh no, Dara is still there.
Dra is still there. But >> I don't think much longer.
>> Uh, okay. So, how about this? I'll say over under >> two years.
>> 18 months.
>> Okay. I was saying two years.
>> Yeah, 18 months. Uh, I think uh he's a lot more front and center now. He's the COO now. He's getting groomed to be the next CEO. You can tell. And uh I've invited Andy multiple multiple times through any possible channel to come on the show, but he won't do it. He doesn't think we're worthy probably. But uh you know, maybe one day, I don't know. But yeah, AI is AI, man. And uh >> so for all those people that are typing in a chatbt and saying uh where you could just do a simple Google search for it instead, that's a lot of compute power and uh you know it's probably helping to rise the costs when it comes to cloud code as well too. Um so uh maybe you're doing a good job doing that, but uh either way um it it's getting absolutely ridiculous out there.
But yeah, like I said, both uh Microsoft and uh um they're actually cutting back on their AI. So, C-pilot is getting less. So, those who have left Microsoft and gone to either uh Mac or Linux, you know, you um may actually see a little bit better of Windows experience. Uh maybe. But uh um and then another problem is uh I know we're getting a little on the techy side, but uh Nvidia decides to vibe code their GPU drivers and then [ __ ] it all up again. Their most recent one that just came out recently had big problems as well because it was all vibecoded. So they have to go back and fix the code uh with a person. So it's like why would you just skip past that and code it because a person seems to know what you need to do in order to to get the job done versus the computer which is you know an infantile toddler. So >> well you know it's like damned if you do them if you don't if you don't use it you're going to be left behind. So you know but we'll see we'll see where all this madness ends up.
Yeah, I think uh I think uh it'll be interesting to see how they play out because if they've already used up their um budget for the year in four months, what is that going to look like?
>> Take more from the drivers next six months.
>> I mean, are they going to re I wonder if they're going to reallocate or if they're going to have a serious conversation where they're going to be like, "All right, this isn't uh where we thought it would be and we're scaling back a little bit." So, that is where I'd really like to see. Same thing. And the reason why I keep bringing up Microsoft because it's the exact same thing. What what's going on with them?
>> Yeah, we'll see.
>> All right. Well, let's move on. Let's talk about uh um your favorite thing, World Cup coming up.
>> June 11th, first game, Mexico versus South Africa.
I still haven't got my tickets. FIFA.
The the FIFA is worse than any bloodthirsty cartel in Colombia.
>> FIFA >> for maybe the NFL.
>> Well, FIFA.
>> Anyway, so they created this dynamic pricing thing on the tickets. I can't I can't afford it there. No, I can't do it. It's $1,000 a ticket.
>> It just doesn't make sense.
>> And where I'm going to sit is I can even see the ball probably on the pitch.
Okay. Then Sofi Stadium. And I wanted to go to the couple of games. I even won the lottery and then but FIFA's hand is in everything just like now Uber.
I was thinking a lot of drivers are going to, you know, swimming cash because of the World Cup. I guess not.
You're good friends at Uber now. They're going to offer shuttles and stick 20 to 50 people in there at a time to take them from to end two games.
I'm like, "Bro, this is the time drivers are going to make money.
Why are you doing this?" Why? It doesn't make sense to me, but it makes sense to Uber. So, Uber to offer shuttles for fans leaving World Cup matches.
Godamn. In Boston, oh, sorry to hear that, Matt. Boston, Dallas, Miami, and New York.
Hard to reach stadiums are going to, you know, offer shuttle services. And I'm sure they're going to cost a lot less than an Uber X probably.
And Uber announced Friday that it'll offer shuttle services in 50 seat vans.
Chris, 50 seats. That's 50 less trips.
50 less pings.
>> Mhm.
>> Yeah. I'm not >> Well, well, I I'd say probably about 25 maybe or so because there's at least going with a friend, you know? You're not going um >> Yes, FIFA is more corrupt than Uber for sure.
100% 3x 10x.
>> They're definitely up there. They're well up there.
>> [ __ ] FIFA. There you go. I said it >> anyway. Well, I will watch the games from the >> You know what? You know what FIFA stands for?
>> Yeah. F F in the F. F. F in the F and A.
>> We'll keep it PG there. F and the F and A.
>> F and the FA.
>> But that is what it means. So >> anyway, so fans who already pay steep prices for tickets, I ain't doing it. Um to Oh, shout out to an ex Uber friend of mine who was at StubHub. We need to talk.
Um fans already paid steep prices for tickets to matches have experienced additional sticker shock over how much it will cost to travel from stadiums. 17 milei roundtrip train ride from Manhatt Stadium will cost 98 bucks and it's going to be 50 bucks now. I'm like bro you guys are killing the drivers drivers are going to make some hay and the official shuttle buses between Manhattan and Medife are now 20 bucks round trip Chris instead of >> 80 or 98 if you took the train. I'm going like god damn man. So we'll see between 12,000 and 18,000. Okay. In Boston, same thing, Matt. Sorry, Matt.
Uh, look what they're doing to you, buddy. I know you were going to kill it at Gillette Stadium. Uh, instead of 80 bucks, now it's going to be probably 20 bucks. And it's just right there. And I'm going like, [ __ ] why why kill the drivers? The drivers have been waiting for the World Cup for four years, man.
And I think I I really think it's going to lessen the pinks, Chris. So, >> no. You want to know what's absolutely You want to know what's absolutely crazy, though? Hard Rock Stadium in Miami. It's uh parking at the stadium starts at $175.
>> Yeah, bro.
>> That's insane.
>> Yeah. Same thing as Sofi. Same thing as Sofi.
>> Holy [ __ ] It's only like 60 or $70 at the for the Bills Stadium. Well, until the new one goes up, then it's probably >> breaking news to you. A regular Dodger game, no playoff, no nothing. Is 60 bucks parking. Okay. All right.
>> Oh, maybe >> for a baseball game. Where is this?
>> Maybe >> inflation is not that high, folks.
>> That's You know what? that that's why you park a just a touch further away where it's free and then you walk the extra steps >> and you're like ah I get a couple extra beers.
>> Okay.
>> When I go to a Sabers when I go to a Sabres game I I there's a free lot that's like right down the street. I just go there, park >> and then walk.
>> All right. I'm going to I'm going to watch every game as I can obviously except on Tuesdays probably. God damn it, Chris. You may have to do a show alone if it's like finals on Tuesday or some [ __ ] but it won't be. Who am I going for? Okay, I'm going to go with different continents. In Europe, I'm going with Spain. My favorite is Spain.
In Asia, my favorite is Japan. In South America, my favorite is going to be Brazil. And in North America, let's just go with the home country. My favorite is should be US. I don't think US US I think is going to have a very difficult time to come out of their group between um uh let's see Turkey Turkey, Australia and Paraguay. They have a tough tough tough schedule ahead of them. So we'll see how it goes.
>> I don't know. We'll see. When's it starting? Uh 11th is the first game between Mexico from Mexico City 100,000 rabbid fans against South Africa. That's the first game.
>> Oh baby, where is that going to be played?
>> Mexico City. Oh, >> okay.
>> You know what? I thought a friend of mine has a condo in Mexico City and he has zero interest in soccer. Okay. It'll be cheaper because in Mexico and Canada, Chris, they don't have dynamic pricing when it comes to tickets. the regular pricing. You can buy a couple hundred dollar ticket.
>> It'll be cheaper for me to fly to Mexico, stay at his place, go watch a game in Mexico, then go 30 miles to Sofi Stadium and watch a game here.
>> Damn.
>> Yeah, that's where you go.
>> Well, uh, good luck. And if there's any games that are being played in your area, uh, maybe you should take advantage while I'm saying, uh, take advantage of, you know, where the trains are stopping versus the event. um just because just because just because just because just because just because just because just because just because just because just because just because it's going to be a little bit better at least that way. So you can still try to get um you know a little bit of extra business there when it comes to u what's going on. So uh just be careful and uh of course be safe when it comes to all.
>> But uh let's move on. Let's talk about another ping screen notification. We just talked about uh Uber VIP >> absolute joke. Then the average wait time 1 minute >> for everywhere. Okay. Interesting. Now there's a little bit new information.
The new one rarely cancels.
>> What does that mean?
>> Um when they order a trip, they're going to take it. They rarely cancel.
>> Huh? Oh, this is for the Ah, you know, >> I'm I'm assuming I'm assuming the thing just went up and Oh, this is for the rider. Okay. Okay. Okay. I was I completely misunderstood this.
Oh, this is for Oh, so the driver >> Why would they tell the driver?
>> Yeah, I'm assuming that the passenger would rarely cancel. So that's why they get a rarely cancels.
>> So means what?
>> Nothing.
>> So you can accept it except you can accept the trip the lousy trip with the expectation that they're not going to cancel.
>> I guess so.
>> Bro, them cancelling is my least of my worries.
>> I know, right?
>> What are you talking about? I'm just looking at the numbers. What happens when I have to cancel >> because they got too many people? Or what happens when I have to cancel because they have a child without a car seat?
>> Or what happens because they're not the right passenger?
>> I don't know who the head of product is now. I know it's Sachin. I think head of product. Sachin VIP means [ __ ] Nothing to me. Uh less than a minute. Every screenshot I saw is a minute. I don't know if it got stuck on the minute. I haven't seen one that says six minutes yet. Because if you put six minutes, oh my god, >> I I told you. I told you why. The amount of rides that are actually generated from a specific area, which because they are not people's homes, they are actually businesses. Because they're businesses, the amount of people that are getting picked up that actually order probably are right out within the time. So, it's a very short wait, >> but >> it has zero bearing on that particular person. I want to know what their average weight time is. Meaning when a driver pulls up and the timer starts, how long does it take for that passenger to actually come out? That's something that's actually meaningful. Not the [ __ ] pickup because that that the person that ordered has absolutely zero bearing on the rest of of what everybody else has done throughout the history. It means nothing.
>> So average weight time is a joke. In order in order of importance VIP uh less than one minute and this one which is the most important one for you >> out of what?
>> A VIP less than one minute wait or barely cancels which one is the most important one that they put up on the pink screen now.
>> If if I actually had to choose >> Yeah, you had to choose one.
>> They're absolutely none of them mean anything to me. But if I had to choose, I guess Rarely Cancels is probably, but it's it's so minor above the other two because the other two are just absolute drop deadad dog [ __ ] This is dead dog [ __ ] >> Okay. So then would you agree all three are mind [ __ ] >> All three are stupid.
>> Well, stupid, but they're just they're going to look they're going to affect the way some newbies or whatever some drivers may think. Oh, this driver this rider never cancels. So, I'm not going to drive any all the way there for nothing.
>> Could it, but you know what? I was wondering if um it will have any problems when it comes to something like gigu cuz gigu is recording the screen and then snapshotting using AI to figure out, you know, if that ride's worth it.
I'm wondering if they're putting in this information to try to screw with those companies so then you you don't get something that is um as quick for for Gigu to process.
>> Oh, okay. Well, I >> I'm wondering if that's part of it or if they're just like, "Oh, let's just throw stupid [ __ ] in here and say we're doing something to the drivers, which means absolutely nothing." All of a sudden, you're going to get that. You're going to get 4.9 verified VIP rarely cancels.
Uh uh >> and less than one minute.
>> I mean and the the the yeah wait time less than one minute. And you know what?
Here's the best part. They're gonna be flags. You want to know what I'm going to have to cancel because they got five passengers they ordered for and uh it took them six minute or Yeah. six minutes to to come out to the car from the the restaurant that I had to pick up pick them up at. And uh they're definitely not VIP because they're they're very important pain in my ass.
So, uh, yeah, it means absolutely nothing to me.
>> Well, I I I think they're all like, uh, part of the, uh, manipulation and behavioral science that goes behind the scenes at Uber.
>> I don't know. I mean, >> look, chat, chat, I got a question for you. If you saw VIP actually or or rate them if but if you saw VIP rarely cancels with the average wait time of 1 minute, does that do anything for you?
And then which was your favorite? I mean, I'd really like to know because yeah, this is all dog [ __ ] The only one that truly mattered was top tipper because it actually meant something to the driver. It actually meant, oh, there's a greater chance this person is tipping.
>> Yeah. And then, you know, you want to fix the average weight time. Okay. Do it to the person that is ordering the ride.
So, if that person is ordering the ride, do it on the amount of time that it takes. That's not a very hard thing to do. it. Yeah. I I think incentivizing the rider somehow to get their ass in the car faster somehow with some discount. Something something would help.
>> Yeah.
>> You know what that would be to get them into the ride faster would be stop giving them this 10-minute leeway crap and start charging them right away like freaking Whimo.
>> That's true. So, >> well, anyway, so another useless uh ping ping screen filling filler. I would call it ping screen filler. There you go.
>> I mean, it's an absolute joke. It really is.
>> What?
>> This is This is a good point right there. Distraction. It's a distraction.
I agree with that. I agree with that.
>> You know, true. Like, I got to look at this. I got to look at that. I got to look at VIP. I got to look at in between the two pick up and drop off. This is less than 1 minute. I got to look at all this stuff now.
>> Yeah. But see here, I mean, again, for the average person, it's it I think it actually means most [ __ ] Like nobody's going to look at it and say, "Oh, I got to look at like you you just train your eyes to look at the things you need to look at." And then once you figure that out, you know, you take in the rest of the information if you need.
>> Look at the bottom line, my man. The rest is garbage.
>> Yeah.
>> You know what I mean? You look at the miles per, you know, dollars per mile or if you if you're into that camp or, you know, dollars per hour if you're into that camp and the rest is whatever. I mean, rating obviously is important. You know, set your rating at 480, whatever.
>> And then the VIP me, you know, VIP is probably a headache because they're probably expect like [ __ ] their feet washed or some [ __ ] like that. I'm not sure >> that means you know what that that means absolutely nothing because it comes up on what is it doesn't mean [ __ ] like that that should be the the stuff that they should be putting on the uh passenger app is VIP because then it's going to make oh oh man what is this I'm a VIP that's cool because then it actually might give them the the the the mind screw that they're actually uh uh some sort of VIP and maybe they'll create some sort of brand loyalty >> that's the only thing I'm thinking when it comes a driver, who gives a [ __ ] >> Did they tell the writer that they're VIP?
>> I have no idea.
>> I bet you not. But, you know, it's a good conversation starter because out of all of them, I think VIP is a good conversation starter. If you're a talker, oh, you know, you're an Uber VIP. Did you know that? That kind of a thing. And maybe walk them into a tip kind of a thing. You know what I mean?
But other than that, I think >> I don't know.
>> Yeah. Well, I don't know.
>> You know, >> I don't know. But like I said, I want to know what you guys think.
>> No, you go. There you go.
>> Exactly.
>> Um, so let's see. These chips are Are they worth it? Are were they worth it? I didn't even look at the dollars.
>> Um, I I would say it depends.
>> 30 minutes.
>> It depends on your market.
>> Yeah, it's 25 bucks and no good pass.
>> I mean, the first one, eh? No.
>> The second one, they're both they're both about 25 bucks an hour. They're both about uh about a buck a mile. Not really. No. Well, I mean 4:30. I'm assuming this is the afternoon for the pet ride in Vegas. So, that one I'm going to say, you know, you're you got to watch out because you're uh >> um you're you're in an area where now you're starting to get maybe some traffic and things like that. So, it could be a little bit more than than a half hour.
>> Um >> opportunity.
>> Yeah. And then the other one is eight. I don't know if that's the morning or night, but uh I think it just depends kind of on >> screen.
Screen is dark, so I'm assuming night mode, so probably uh night.
>> Yeah, that's true.
>> And well, both are hard pass for me.
>> Yep.
>> Yeah. Anyway. All right.
>> Of course. I mean, come on.
>> All right. as well.
>> Would you like to know what Lyft is now doing when it comes to multi-stop trips in the app?
>> Your time is free.
>> Definitely going to be talked about on June 10th.
>> Your time is free, >> bro.
>> So, seriously, >> so I sent So, here's the setup for this.
I sent Sergio this screenshot on the right >> and I go, "This for real?"
>> And he said, I'm like, "I don't know. I found it on on Facebook, one of the groups that I follow. So, I'm like, uh, it's definitely some sort of what I would assume to be legit. So, I open up my app and, uh, check the multi-stop.
And, of course, there you go. It pops up. So, it says, "Feel free to make a few stops. Add up to three stops. Driver will wait up to five minutes per stop for free."
>> My mouth is on the floor.
>> Huh? My mouth is on the floor.
>> Yeah. So, three stops up to five minutes per stop for free. So, you could be >> 15 minutes for free.
>> 15 minutes for free.
>> I swear to Jesus Christ, this is going up on the lift conversation on June 10th.
>> And then, and then here's the best part.
>> You know who you are.
>> Well, well, hold on, hold on, hold on. I didn't even get to the best part yet.
Additional fees and wait time fees apply >> to who?
>> So, they tell you they tell you the driver will wait up to 5 minutes per stop for free. And then they say additional fees and weight time fees apply which means that Lyft is pocketing the money when it comes to fees and wait time fees.
>> So >> associated with multiple stop but they paying a driver anything for the five minutes on a per stop basis.
>> Okay. So, are you saying are you are you alleging that 5 minutes is free from the driver's pocket right at each stop, but Lyft is charging them immediately as soon as the car has stopped for those five minutes?
Do you think they are?
>> Probably.
>> Well, I need to find that out.
>> I I'm pro. But that's the whole thing.
Multitop.
>> I mean, if it's free for the driver, it should be free for the rider.
>> Yeah. Well, you you know how they like to operate. Um >> Wow.
>> But uh but yes, first off, if anybody has taken a multi-stop trip over the last few days uh and you have the uh screenshot of that, please send that to us. We need the full screenshot. Um so then we can see >> Well, there's an easy way to do this.
I'll order a trip with multi- stops and then I'll see if I'm getting charged as soon as I'm stopped on the first one.
Well, I mean, you could do that, but I want to see how they're they're so how they're dealing with the time when it comes to to a multi- stop for free.
>> Wow. Free. That's that's potentially 15 minutes.
>> Yeah.
>> Wow.
>> Yeah.
>> How many does Uber have? Six stops, right? But they don't they don't say it's free.
>> No, I think that that it starts right there.
But uh yeah, if if you are uh a driver who's taking multi-stop trips and you have seen this, uh let us know. Uh screenshots, Jeff. Screenshots.
>> What do you mean not true? It says right there, Jeff. What are you talking about?
Right there. It says free. What? One minute.
>> Here you go, Jeff. This is a video for you. When you take when you take a multi-stop trip, >> I want you to to screen record the trip and then um send that to us. So then that way we can see, we may not post that, but uh uh we may see. So then that way if it so shows you uh when you pull up to that that first stop that you're getting paid for the wait time after a minute.
>> Okay, I'd be okay with that. But it says right here that drivers will wait up to five minutes per stop for free. I mean, it's it's right there in in the app itself, straight from them.
>> Yeah, you decline decline decline. But then if what if they add the stops after they get in the car? Then what? You can decline all you want.
>> Then it's uh Oh, I'm sorry. Uh get out my car.
>> Well, yeah, but no. Usually what they do, they take you hostage. They they leave something behind in the car so you can't take off. You know, they do that, right? They leave their >> Well, it's called an anchor. And that's why you say, "Look, there the stop is only allowed for 5 minutes on these things. If you think you're going to be longer, take your stuff because when the five minutes comes, I'm either putting the stuff out on the side of the street right here or you're going to have to pay a loss or a return item fee.
>> Yeah. I I Yeah. Well, yeah. That's just too much. Chris messages. Yeah, it is on the messenger.
Exactly. So, I can do >> this is new. Just because you made a video last week does not mean it's the same this week. They changed it. This was literally in the app this week.
>> Yeah.
>> So, >> and I was like because When you first sent it to me, when you first sent it to me, I go like, "That's [ __ ] That's not That's never going to happen."
>> And then you did it on your app and I'm going like, "Wait a minute."
>> Yep. Yeah. Go in your driver app right now or in your passenger app, open it up, go to the multi-top portion, and that little pop that thing will pop up.
>> Well, you know, I'm I'm want to know. I mean, yeah, this this poses a lot of information. Is the passenger actually going to get uh get it for free for the five minutes, which means Lyft will cover the wait time?
I don't I I don't know.
>> So Jeff is Jeff is saying that it's telling the rider it's free for you, but in the background, Lyft is going to pay the driver after one minute. That's what he's saying.
>> Well, I don't know about that because >> we're going to figure that out.
>> Look at the line item right underneath that.
>> Look at the line item right underneath that. It says additional fees and wait time fees apply. It does not say may apply. It says additional fees and wait time fees apply.
>> That's after 5 minutes for the rider.
>> No. No. It does not say may. So if you don't have may there, that means there will be additional fees and wait time fees built into the calculation. Well, >> they're not saying may apply because >> you don't I mean it might go five minutes and then there might be an additional wait time, but that's the whole thing. It would say may occur or may apply. Um so language language is huge when it comes to these types of things too. So it doesn't say may apply.
>> Um it's saying that yes, additional fees and wait time fees apply.
>> I want to drive I'll I'll uh order a stop at just two trips or one one stop.
One stop. I won't do two stops. one stop and then I'll get in the store, wait, look at my watch, get five minutes and then talk to the driver afterwards and I know if I'm getting charged as a writer right off the bat and I know what the drive I know if the driver and I'll finish the trip. I'll tip him whatever and then I'll look at his receipt >> for that trip. Let's see if he got paid after one minute. I can see all that.
So, I can do this. I can test this actually.
>> Yeah, test it. I'd love to see this. And then that way we can we can actually get the information, the full information because yeah, this is just the passenger side of things. And what is it going to look like on the driver's side is is paramount because >> do you want to wait around 5 minutes per stop not getting paid? I I don't think that should be even allowed. You should be getting paid. You should be getting paid the moment you pick them up to the moment you drop them off. There is no free wait time.
>> I mean, look at a look at a cab. If you're waiting there, that meter's still running.
>> Yeah, for sure. But, uh, I think this is what's going to happen. If you enter the multi-top before you order the trip, right, I think the algos are so smart that they're going to jack up that price enough for that potential 5 minute wait time. Do you know what I'm saying?
>> For the rider and then out of that, they will pay the driver something if it's after a minute. And but the the the the can of worms opens. What if a rider orders a straight shot trip? Because a lot of riders know that when they when driver sees multi-top, they're not going to take it.
>> They'll just get in the car and then enters the stops. Ping ping ping. Then you know you're effed unless you want to get deactivated and kick him out of the car.
>> But I would really actually, you know, I'm going to talk to this guy number two at Lift on June 10th. I'm going to ask him about this exactly this.
>> Yeah. Um, so either way, that's that's the new information of what they're showing on the passenger side of the screen when it comes to multi- stop trips. Um, when it comes to and this is this is brand new. Like this is literally that popped up in my app. I don't know when did I send that to you?
Just maybe Thursday, >> Friday, something like that. So, um, yeah, it's fresh. It's new. And, uh, hopefully we're not getting screwed out of 15 minutes for three app, too. I'll look at it later. Yeah, go and open up your pass. All you got to do open up your passenger app, go to order a ride, and then do multi-top.
>> All right.
>> So, hit the little hit the little plus button and that should pop up.
>> Okay.
>> But either way, um yeah, we'll have to know a little bit more when it comes to what it looks like in an actual multi-top. Um so, if anybody is doing multi-top from say Friday and on, um let us know how it looked like. And you know, Sergio, if you're going to be doing a multi-stop trip uh to see and kind of test that, let us know your experience as well, too.
>> I will. I certainly will.
Okay, so I pushed the plus.
Stop one stop to fees apply if you add a stop. Wait time fee apply at a per minute rate if you add a stop. Try to keep stops under 5 minutes. Your driver can end the ride if your stop exceeds 5 minutes. See, that's what mine says. My rider app. Yours is different than mine.
>> Huh.
>> So, yeah.
>> Huh.
>> Yeah. Well, you know, they test they test these things, you know, different cities, different things.
>> Yeah.
>> So, either way.
>> Yeah.
>> All right.
>> I agree. Time is not money for the driver. Time is money for everybody else on the planet.
>> All right. Well, let's talk about uh the Lyft uh Lyft fee cap, which is now over because it's June 2nd, so May 31st rolled around. What's it looking like?
What's it looking like?
>> It's looking very interesting, Chris.
>> Wow.
>> I don't see I don't see any 70%s. I mean, those are some one-off rides for sure, but uh um you know, I'm seeing everybody here out of these four particular rides. one really stands out.
So, I got to I I'm going to highlight that in just a moment. But, uh um you know what I mean? The lift fee cap for the first ride was at 19%. So, they made $1,158 and that passenger paid uh almost 6200s and they earned 30 $3,000. But the big thing I noticed is that the insurance and line item was $2,000. So it was actually 32% >> of passenger fairs >> Chris.
>> So >> this is I got bunch please. So please be careful.
>> Please send them to me folks. Keep sending them to me. Send them as many as you like. As many as you like.
>> Reverse that. So take take your 6 thou $6,200 minus the $2,000.
>> So you would have $4,200.
Now, how much percentage is that 1158 out of 42? Cuz it ain't 19% anymore.
>> Mhm.
>> It's higher.
>> Mhm.
>> So, >> well, um, all I can say is on all these screenshots, there is a very, um, not familiar, but there is a there is an expected first of all, I've gotten a lot more than this. I have not gotten one Chris that is above 30% yet.
>> Yeah.
>> Every single one was under you know. So you guys see that the green green circle up top on the right side. So when you look at your monthlies at the end of the month, you're going to see that below cap below cap below cap below cap. So all these drivers were below cap.
>> Yep.
>> But there is one thing that's very similar between all four. When lifts below cap and their lift fee is under 30%.
The external expenses i.e. the commercial insurance and taxes and government fees is exorbitantly high. Do you see the averages Chris? 29 32% 29% 28% and on the last one because it's super part-time happened to be 12%.
>> So >> must be must be Florida. I mean not Florida.
I'm just saying please send me all the at the end of the month and if you already if you finished May please send them to me for May just go to your app take a screenshot and send it to me just like this. I haven't gotten if you're especially send it to me if you're above lift fee cap is above like it's probably going to be in red circle and it'll say um above the cap. So you're going to get some money back. You know what I'm saying? So, uh, were you calculating that if the driver made more money under this new regime or new scheme than before or less? Is that what you were trying to calculate?
>> No, no, no, no, no. What I'm what I'm saying is so um they're showing I'm just using the first one as an example. So, the um if you how it used to be was it was 7030 after expenses. Yes. Now, the lift fee is off the passenger payment.
So, 100% off the PA passenger payment.
>> But if you took the $6,200, which is the 100% subtract out the uh $2,000 when it comes to um the external expenses, that lift fee goes from 19% to 27%.
>> Yes.
So you can see that just by sha shifting the numbers around, you know, it it can it can shift things around. Although although I don't know who what driver this was for the second screenshot, but let me tell you something. You you hats off because you made oh 9% of money.
So congratulations.
They lost $277 during the month that you drove. You you drove $3,000 worth of passenger payments. There was $889 worth of uh commercial insurance in that when it which is 29% which is still ridiculous.
Uh but Lyft had to cover your payments by spending $27748 out of their money that they took. So, you had a negative 9% lift fee.
Congratulations, hot dog. That is awesome. Um, all these other drivers at 19% 15% 12%.
You know what? You gota you got to do a little better. Negative 9%. Now, if you got some if you're somebody who uh lift fee is negative, send the screenshots.
If you have something that's above 30%, send the screenshots. Well, the other thing I want you to send is if you are if the lift cap is above 30%, send me that screenshot as well. So, the old system, Chris, as I've said it million times, the hocus pocus was those two line items, external expenses and lift service fee is interchangeable. When lift service fee was very high, external expenses were low. When external expenses were very high, lift service fee was very low. Okay.
>> Okay. Well, under this one now, under this ruling, um, uh, the other thing is that that I'm trying to understand here is so the driver take on the first one was 49%.
Driver take on the second one because lift was negative was 80%.
>> Nice. Driver take on the third one was 57% and the driver take on the last one was because super part time is 70 some percent. So either this says because I I'm trying to compare the pre versus the new the old versus the new.
Right? So, if we were to take the first one and $6,200 and deduct pre pre, right? Pre and deduct the $2,000 from that, it would be we would be left with what? $4,200, right?
>> Right. So, out of that 4,200, there would be a 7030 split. Correct. The old way.
>> Yep. Which would be considered >> Lyft's fee would be considered 27% in the old way.
>> Right. So, does this show that Lyft is So, was I wrong assuming that Lyft is going to make more money this way? Lift is actually making less money now. So, we should be shorting lift stock instead of buying lift stock >> because seems like it to me.
>> No, no, no. Um, I don't know. I mean, that that's the thing on these particular drivers. You'd have to know what it was like pre May one. You'd have to see what their average take rate was, you know, over, you know, the extended amount of period. just so you could see what was the lift fee, what was the external fees, what was the driver actually earning uh compared to the passenger payments and then you could kind of extrapolate. But what I'm saying is they say that uh the average take rate for Lyft was 14%.
>> Yes.
>> So that means let's just use a $100 ride. If you had a $100 ride and you had $15 taken out for external expenses, then um that would be $85 that would be split between Lyft and Uber. I mean Lift. Wow. Lift and driver. Um and 70% of that remaining would go completely to the driver. If there was anything where Lyft took more than that, then they would pay back on that top top off at the end of the week. Obviously, now it's the month, but um what would change is if they said 14% on $85 is much different than 14% on um $100 out of that passenger payment because now they could say, well, our take rate hasn't changed. It's still 14%. But the problem is if they did that there just because they switched it from uh the the order operations to before external expenses now before was after then that same 14% changes. So that means that the 14% is based off the $100. So that's $14 instead of $10.90 or whatever it is.
>> Yeah. Well, I'm going to do a real quick calculation here. Hold on a sec. I'm going to do the old way. So, it's $6,200.
>> I mean, the only thing that would have shifted here is that the percentage of what the lift fee is would change. So, instead of being 19%, it would show 27%.
>> Okay? So, under the 7030 after external expenses, driver would have gotten paid $2,940.
So, now he got paid $3,038. Pretty similar. Pretty similar.
>> Exactly. But but that that's the you know you can't say that because the most because a lot of drivers still weren't getting top offs. So they the the lift fee was still under 30%. That was only if the lift fee at the end of the week was over 30% that they would make that shift. So nothing in this would change.
>> The only thing that would change is the percentage value. So you would see um 100% of passenger payments, 32% of external fee fees, and then the lift fee would go from 19% to 27% because it's one $1,158 out of what's remaining of the $4,200.
So it would jump from 19% to 27%. So it looks like it might be less now, but in actuality, it's because they're they're doing it the same. So you can't say if they there's been any change out of these screenshots. You would have to know what it was pre May 1st and then you'd have to to follow that up with what is going on throughout May.
>> The only thing the only thing >> June July >> So please community help me out with this. Send me all these screenshots this just like this. Okay? Just take one screenshot of your monthly recap from May because month ended now specifically if you're above cap.
That number one. The other thing is so nothing much has changed because I think personally speaking the $2,000 external expenses of 32% commercial insurance which is 90% 95% of that is commercial insurance I think is exorbitant. And on all these screenshots, there is a very similar thing between all of them that the external expenses seem extremely extremely high to me, right? For what the job is. And uh I mean, a driver can buy a commercial insurance for a lot less than $2,000 a month, any state, including California. Okay. So, um, and this kind of ties in with our show next week with, uh, um, Consumer Watchdog because they're alleging that all this money is going into some captive insurance company in Hawaii and then that money is getting washed through, come through as free cash flow. No taxes are paid and then the money is being spent on AVs. The money is being spent on purchasing other companies and things like that. that I cannot prove, but that's the alleged alleged scheme that's going on. And but please keep sending me these screenshots. Um I want to see if the lift fee is very high, if the external expenses are very low on that person and so not much has changed from the previous. I just wanted to understand Chris if I should buy lift stock or sell lift stock.
Well, I think I I mean the big thing is it comes down to again if they keep that if they say well before this change it was 14% was our take rate and nothing changed it's still 14% they added a ton of money >> did they >> they would have yeah because 14% on a higher number is much higher than a lower number >> because that's pure math yeah simple math >> yeah so because again if you go to that example if you take I mean just just $100 minus $15 in external expenses. Uh I mean here you could probably say 30 um with seeing 30% across the board on average. Uh but we're just going to stick 15%. Um so $15 out of the 100. So now you have that 7030 split of um 85.
So if they're saying hey $14 I think that's $10.90. Um check me if I'm wrong um but I think that's what it is. And then um 14% on $100 before external expenses is even taken out is 14 bucks.
14.
>> So you can see that there's $310 difference.
>> And ju just saying, "Oh, we kept it. We kept it the same." No, you did.
>> You changed the order operations. So, >> okay, >> that's where they could potentially and then, you know, the other thing is the finangling of money and where I say like, oh, it's well above you, they could have taken 35% on week one and then offered you a bonus on week two that brought it down to 10% take. Uh, but all they did was float the money from week one to week two. And then, you know, by the time week four rolls around, you're at 20. You're sitting at 20%.
You know, >> yeah. So, I'm I'm Okay. Uh, please keep sending me these. I'm creating a file with as many of these as possible.
That's number one. Number two, um, but Matt, that's u I get that. except that if you look at their earnings report um the insurance reserves have gone into the double digit billions on Uber.
So that money is coming from somewhere.
So they are reserving very high through the scheme taking the money rush flushing it through the company and the the insurance reserves are super high and then they're not paying out. They're trying to pass all these laws to limit the liability and they're going to clean that cash up and use it for other things like AVs and things like that. So, that's the what the consumer watchdog is alleging. So, we'll see. Yeah, I'm moving on. Yes.
>> All right. So, uh we're going to be talking about should Uber and Lift be considered common carriers? And for some reason, I forgot to put these screenshots in the slides. So, we're just going to use um >> well, common carrier is like compare Uber and Lift to a taxi.
Yeah, but I don't know why. Hold on. For some reason it went to that. So, um, >> yeah. So, Uber Lift drivers are getting this warning, right? As usual, Springfield, don't risk ride share jobs special interest for special interest.
So, in Springfield, Ohio. Uh, or I think is it is it Ohio or Illinois? I'm not sure. Uh, but anyway, >> it could be Massachusetts.
>> It could be. Yeah. Um, so let me see.
>> Oh, no. It's Illinois. It says right there.
>> So they are trying to pass laws that designates Uber and Lift as common carrier. Common carrier is like taxi cabs regulated dollars per mile, you know, minute and um tougher background checks and things like that, right? So Uber andyft have been fighting this and they're sending messages. if you get this in in this is not just in every city in Illinois but Springfield and that uh they said that if the usual scare tactics like if you go for this you may get deactivated you may have less trips demand is going to go down fairs are going to go higher do this and do that and they're saying the special interests are the u torque groups or the you know lawyers the ambulance chasers who sue them constantly for accidents And they're saying if you you if if Uber and Lift are designated as common carrier, you're going to lose a lot of trips, you're going to lose a lot of money, you know, you're the demand is going to collapse and shit's going to go sideways. And it says right then and there, uh, a lot of drivers are getting this. And couple of the drivers sent me this and said, "What should I do?" I go, "Nothing. There's nothing you can do or you should do. Um, understand what common carrier is and vote with your brain. Don't ask me because I'm not in Springfield, Illinois. So, you know, we'll see. We'll see what's going to happen. And uh you know, that's like Can you read the like the top one? This could mean what? Or I can't read it.
It's too far.
>> This could mean more deactivations for drivers, fewer protections, and possibly no meaningful appeals process, stricter vehicle rules that could push drivers off the platform, reduced driver pay.
>> H Okay. All right. Well, this is the typical warning scare thing, whatever.
Um, >> typical.
>> So, yeah, we'll see. We'll see how it's going to be. Do you guys think, do you chat? Do you guys think uh they should be treated as cab companies? Uber and Lift, >> common carrier? I don't know.
>> I think so.
>> I've always said that. What is Uber? Cap company with an app.
>> Yep.
>> I don't know.
I think so. And that's my just just my opinion because uh that's that's what their business is. They're not a technology company like they want to claim they are. Um but uh yeah, I think uh I think that they should be more regulated like that. I think that that should bring um certain things like pay rate pay rates being time and distance and you know having having the proper pay rates come about and then uh I don't believe that it would lead to more deactivations. I mean it might like when >> I don't know why their driving record um they might be looking at that something like Massachusetts that is a very big possibility but that means if you drive like [ __ ] you shouldn't be on the road probably anyways. Oh, no. The the activations may mean that, you know, cababies are um fingerprint background checked. You know what I mean?
>> Oh, yeah. Yeah. True.
>> That's why. So, they don't like that one.
>> That that's a possibility there. Um but if that means it kicks some drivers off the platform, that might be a better thing for you.
>> Yeah.
>> I mean, there there's a few different things to look at there. I mean, you you just got to got to know what it means and understand it and then say, "Is this going to benefit me or uh is it not going to benefit me?" And then just go that route.
>> All right. I don't know. Um so I said to that those two drivers that sent me the same thing. What do I do? I'm like, I understand what's going to happen. Don't listen to Uber because Uber is exaggerating.
Don't listen to the other side. the other side's probably exaggerating or probably running some ad saying that oh lawyers are not going to make money blah blah blah blah blah whatever I go think put your thinking hat on I'm not there I don't know if it wasn't California I would know what to do but uh you know we'll see >> yep all right well anything last there Sergio >> no um no >> we have guests coming up every week folks so join us next consumer watchdog Jamie Court. We're going to dig into this Uber alleged. I'm not saying it's illegal. I'm not saying it's money laundering. I'm not saying any of that. Uber, not me. It's alleged by allegedly. That's the scheme you guys are running. Scam, scheme, whatever it is. I'm sure your lawyers are very smart not to step into [ __ ] into that.
Um, but so we're going to talk to Consumer Watchdog next week. And week after that, we're going to have Hop, skip, and drive on. Week after that, we're going to have our sponsor um, >> Voice Expense.
>> Voice Expense on. What else we got, Chris? We have >> Yeah, >> we got quite a bit.
>> Yeah, we're Oh, and on the 30th, >> we got Green Energy Consumer Alliance coming up >> tentatively. tentatively.
>> So, that might change, but that's what the the goal is. So, yeah, we got quite a bit for it. Um, but again, yes, check out Voice Expense. Uh, you can check the link in the description below and use code RSG.
>> Yep. That's it.
>> With that being said, get out there, make that money, >> be safe.
>> Yep.
>> We'll see you guys next week. Dave Heat. Heat.
Heat.
Heat.
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