From driving for Uber/Lyft for 2 years I can confidently state that while many of the points in this article are similarly presented in the media, and often times drivers run into these struggles when they just begin, the actual life of a full time driver is quite different. This is especially true if the driver is observant and adaptive.
For example, buying hybrid vehicle doesn't help you "massively cut down on fuel costs" but drivers do this for other reasons. Going from a toyota corolla to a prius allowed me to spend twice as less on gas. However, this made me go from spending 12% on gas to spending 6% of my earnings on gas. This difference is enough to pay for the car, and hence many drivers do this because it's basically a free upgrade. However, this doesn't really make you break the bank, since on a typical day, there is more than 6% of variability on how much you make anyways. You are right, these are "ways to increase your profit margin slightly."
Despite all that, i now make over double as a driver per week than I did when I started driving. The reason lies in Lyft's bonus system and adaptation and strategizing. In fact, not only does Lyft's new bonus model heavily incentivize drivers to quit Uber and only drive for Lyft, but it also heavily incentivizes full-time driving, because on most weeks you need roughly 40 hours to qualify for the highest bonus, which is currently $425.
You are viewing a single comment's thread from: