Most are doing it as a side hustle for a little extra cash before or after work. Or they're using the money to justify spending more on their dream car.
They don't need to break even, they needed the car anyway, it would depreciate roughly the same amount anyway. Or at least the extra uber usage is going to be negligible compared to the time based depreciation.
Having people who don’t understand how to calculate their costs in the market drives down wages for everyone.
Yup, this was my point! :)
Interesting. Anecdotally, in Sydney it seems almost all Uber drivers I meet are doing it full-time now. A few years ago, it was just a side-gig for most but I think the demographics have shifted quite a lot.
> They don't need to break even, they needed the car anyway, it would depreciate roughly the same amount anyway.
Not if you're driving it 10x more than you normally would. Mileage affects the resale value and increases the likelihood of additional maintenance work (especially if you're doing city driving which is substantially more stressful on cars).
Most of the guys make it to pick up girls. I know some girls that use to go by Uber and many guys would ask for their number.
For example they can't drive a Tesla for this cheap, makes no economic sense, except if it's another tinder for them.