19 Comments

But wait, there’s more (bad news)! MTA Congestion Pricing coming this June 30 that will raise a rideshare trip into Manhattan by at least $2.50; as if August wasn’t bad enough with slackened demand. Congestion pricing will only compound the lack of business.

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In the short-term you're likely right, in the medium to long term there might be a benefit (i.e, people not driving their private vehicles into Manhattan, less private vehicle traffic). This is why Uber and Lyft were lobbying for congestion pricing (counterintuitively to many people)

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I can see that argument and weighed those same points myself but when taking a subway is $2.90 and a typical rideshare fare just went up $2.50 or more, you’re going to have a certain segment of the population that will just give up, take that L train, and use Uber only for a last-mile ride to and from their subway stops, or (God forbid) walk. See what transpires.

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What is the likelihood of the TLC putting a cap on licenses, any decision tlc made have not benefited the drivers!

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After the INSANITY that TLC pulled last autumn with issuing 10k new EV licenses, there is no guarantee that they won’t do something again monumentally effin stupid in the future. Remember, they were prepared to fight in the court only within the past few weeks their right to continue to issue MORE new vehicle licenses until they quietly stopped that effort with no reason given. The effects of that decision from last fall are still now manifesting itself at this very moment and into the future. TLC has created a race to the bottom, the antithesis of why they were created in the first place. They should be ashamed of themselves.

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The best way to frame the probability is if there is a will, there is a way. If no one pushes the point, the TLC / City Council will likely do nothing. Good example is drivers coming out to complain about new UR proposals last year (TLC lowered it to 53% from original 56% proposal, in retrospect that was a very big deal!)

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last year I rented out a car for 600, it was February March, 2020 Sienna wheelchair, so the driver got 1500 gross in two days, now he, in his car, also a Sienna wheelchair, barely makes 300 gross a day, after all the innovations of TLS. and who did they do better?

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That's surprising because would have assumed Uber / Lyft would be giving priority to EV or WAV drivers due to Green Rides mandate. Is he regretting spending the money / getting loan on the Sienna? Did he buy a new 2023 or 2024 Hybrid Sienna? Have you rented your Sienna WAV again?

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my friend works on a 2016 sienna wheelchair, and is thinking about whether or not to buy a 2024 sienna, and convert it into a wheelchair, it will cost him 55k, I told him don’t do it, invest 55k in an unclear business, where you can be blocked or tlc will come up with something again - that’s bullshit, I tell him now you worked 10 hours and went home, and when you buy for 55k you will work for 15 hours because the loan is 850 plus insurance of 500-700 per month. I haven’t rented mine out yet, I have a 2020 sienna wheelchair where I invest 40k less then 1 year ago. I decided to sell it and move to another business, there is no point in renting it out for 500-550 a week, license plates for corporations, insurance 7500 liability plus full coverage, total around 10,500, drivers all have licenses for less than 3 years. I don’t see the point in having 300 per car, there are many different businesses.

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Thanks for sharing details and what you're saying makes sense!

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I have long been disillusioned with this business, TLS killed this business under the guise of caring about the drivers. like drivers pay a huge rent, but how much should they pay if insurance and cars cost a lot of money. And not all drivers want to be owner operators. Buy a car for 55-60k Toyota Sienna wheelchair and then have your Uber account closed because of a trifle.? I think if they open ev plates again, no one will take them. with crazy insurance, repairs and little work? my friend cannot rent out a 2024 Sienna wheelchair, which cost him 55k, even if he rents it out for 700, he will receive 325 a week, not counting repairs. Why the hell is this business? invest 55k and wait three years to get your money back and then fix this car? Why didn’t TLS worry so much about insurance for the corporation, which now reaches 10k-11k per year if the driver has no experience? I mean liability and full coverage. what have they achieved? who will invest big money in this business? in a couple of years all the cars will be old crap. TLS was so worried that drivers pay huge rent by their standards, let's take care of apartment rent, which has skyrocketed. I think as long as there is this current TLC administration, nothing good will happen, it feels like there is either huge corruption or just idiots. Thank you

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Very good points! It’s true. Why would you buy not just a wheelchair-accessible vehicle but also an electric vehicle (EV) for $50-60k or more and risk getting deactivated by Uber or Lyft on a lie or whim. Not worth it. Buy the cheapest, most utilized car possible to do the job (not new) and drive with that. If you get deactivated, you can always keep or sell the vehicle without much financial harm. This is also a reason why renting sometimes makes sense if you’re new to rideshare. You can sample what it’s really like to drive 40-60 hours per week just to make a decent weekly profit. If you truly like the driving then develop a BUSINESS PLAN for obtaining a more long-term plan for a vehicle, including getting a vehicle license.

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Know of many people that basically share your exact sentiments. If they give you lemons, you will (along with many others) just have to make lemonade. Agree though, after a while, it's very demotivating and there's only so much you can squeeze someone or business, before they call it a day 🀷. Still am optimistic about the future, but we need some sensible policies and guidance from TLC / NYC Mayor

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every council member needs to read this article.

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πŸ™

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Unfortunately also I believe that without city intervention im afraid the yellow medallion will become the new green cab permit.

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They 100% need to enforce the TLC Plate Cap. One more surprise license lift like last October, that's not going to be good at all. for medallions Uber and Lyft driver waiting list might help in a way but still 4,000+ in active and 50% pre-pandemic trip volume...not good, needs to improve

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I expect UR to continue to decrease, the rides are just not there. Each and every day drivers are complaining more about how slow it is. Bankruptcy for many is inevitable

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Definitely some deeply underwater EV loans out there! If March industrywide UR is still below 53% that's a major, major warning sign, given August will likely be a slow month as you know, so that'll be 1/3 of the the calendar year months for 2024 likely being sub-53%...fear is lockouts coming soon and waitlist wait periods are also pointing to lockouts. If lockouts do come, what do you expect the driver reaction to be this time around?

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