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Comment by elmar | Hacker News Reader

a business model based on the lack of mathematical and financial skills of the participants.

"If you are using either Uber or Lyft, stop. Now. You are contributing directly to the growth of the precariat and the debasement of work. The fact that you use an app to distance yourself from the exploitation of desperate and not very savvy drivers doesn’t change the nature of what you are doing." Yves Smith @yvessmith

Who are you quoting?

This is a direct quote from the linked article

Updated post with source - Yves Smith @yvessmith

The article.

Mr Money Mustache also did a piece on how much you really made driving uber: http://www.mrmoneymustache.com/2017/11/22/mr-money-mustache-...

One of his quotes from that article:

“Imagine developing a company specifically to take advantage of people’s ignorance of how expensive it really is to drive their own car. What would this company look like? “

(the answer is of course that it would look like very much like Uber or any other ridesharing company)

Senator Elizabeth Warren once said that financial contracts should have disclaimers such as other products have (this is safe for children older than 3 years, don't drink too much of this, etc). She was talking about mortgages.

Maybe we should have something along those lines for this type of company, especially since these companies have a good deal of knowledge that they are not sharing with their workers.

Every person I have known who drove for these services had given zero - zero! thought to depreciation. Sure, it covers gas money but when your $24,000 car is worth $5000 in three years it won't be a great deal.

a business model based on the lack of mathematical and financial skills of the participants.

Like state lotteries?

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