Macroeconomics Of Uber

For passengers, uber is a suitable, low-cost, and secure taxi labor. It is a quick and easy process to get yourself an uber. With just the tap of a button on your phone, you can get an uber to pick you up and take you to your destination. To pay for the fare, Uber uses the credit card or debit card that was used to sign up on the app. There are a variety of different kinds of vehicles that are used for uber. For example, there is the UberX, which is the least expensive and fits up to four passengers. Uberblack, which was the first service car uber provided, is the more stylish vehicle that comes in all black. Uber is the cheapest and most reliable way to travel from one place to the other. With its just a click of a button app, and its stylish vehicles, uber is an excellent way to travel.

Uber performs in more than 425 cities in 72 countries and had around 30m monthly users. Uber is working on expanding its driver network, which now stands at 1.5 million globally in more than 450 cities. One percent of Uber’s valuation is about $680 million. For a company that's not even a year old and doesn't have a product in the market, is a lot of money. In 2016 it will most likely have about $4 billion in net revenues, which is more than double the previous years. Uber’s financial data, in the first two quarters of 2016, had $2.1 billion in revenue. Still, the company lost at least $1.3 billion according to its reports (“from zero to seventh” p. 3). According to Omer Abdelnur, an uber driver, "he watched his earnings decline by around 70%, according to his estimates." The reason for this is because uber says fares have dropped, but wages have stayed level because the volume of trips is