By on August 2, 2021

While the tech industry does have firms pushing useful applications and products, it’s quite possibly the most disingenuous business sector of the modern age. Companies selling literally nothing more than false promises routinely see multi-billion-dollar valuations. The necessary hardware is always just “years away” and sold to investors who haven’t realized it was never real in the first place. A significant portion of the industry is also little more than reorganizing payment structures or access to services for the sake of convivence, making sure you’re locked into a plan that keeps your financial and personal details perpetually on file. But sometimes this actually results in worthwhile solutions which may (or may not) be capable of turning a legitimate profit.

Ride-hailing firms are probably one of the earliest and best examples of all the above. Uber and Lyft both lost a lot of money in 2020 but both remain convinced that profitability is just over the next hill. But there are plenty of obstacles littering the incline.  (Read More…)

By on November 10, 2020

Uber is launching a new feature that allows riders book trips up to 30 days in advance. While supposedly innovative, it smacks of desperation following years of multi-billion-dollar losses and an inability to account for pandemic-related lockdowns. The company reported a $1 billion loss in the third quarter of 2020, noting that gross bookings declined by 10 percent year-over-year. While the assumption is that business will improve as more cities reopen, only its business-baked bookings and its increasingly popular delivery services seem to be making any headway.

Reserve, which is what Uber is calling its new booking program, seeks to be another round in its corporate magazine by allowing customers to schedule rides far in advance. But having it serve as a new revenue stream seems wishful thinking because it doesn’t appear to offer much beyond the typical Uber experience since one could already pre-book rides. What Reserve changes is how this is done. The new service adds a flat fee to booked trips that’s dependent upon location and demand.

(Read More…)

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