Yesterday, Uber Technologies, Inc. doled out some impressive Uber-related numbers. According to the company, a revolution is upon us: an Uber revolution, where riders are transported with ease and grace from one locale to another, and the drivers who get you there are making out like bandits. Hold your horse(power)s, Uber.
In a press release, Uber bragged that drivers in its UberX program (the lower-cost Uber option) make an annual median income of $90,766 in New York City and $74,191 in San Francisco. Pretty impressive numbers.
The company says it is injecting 20,000 new jobs into the driver economy each month, and that 43 percent of Americans are now within about ten minutes of an Uber car pickup. Uber CEO Travis Kalanic offered some remarks on his firm's triumphs, saying:
Just four years ago we set out to build a better option for people to move around cities – to make getting a ride safer, easier and affordable... But Uber’s positive impact goes further; hundreds of thousands of entrepreneurs are using the platform to build their own small business, resulting in a huge job growth engine for cities resulting in billions of dollars being pumped into the U.S. economy.
Taxi drivers who have made the switch say they were sick of spending money to lease cabs — up to $32,000 per year — and that the Uber platform makes them feel more safe. So why isn't everyone becoming an Uber driver? Specifically, why isn't everyone in New York City becoming an Uber driver?