I sold HYRE 36% ago and I did a post about it — which some of you mocked because you didn’t see into the future like me. I tried to teach you my methods — but you didn’t heed my advice and now look at you.
I did myself a favor and bought HYRE now, 36% higher because there is zero resistance here — running on fucking jet fuel — on the precipice of a parabolic move higher.
Bet against me — see where it gets you.
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HYRE lets car-owners rent/lease their cars to Uber/Lyft drivers.
They say that the Problem with UBER and Lyft is that many drivers apply but don’t have qualifying cars. Their solution is to charge drivers $344/week (in their example). However, the problem is that the reason. This basically shifts the model to thr taxi model, where driver’s pay for gas and pay the taxi comapneis a fixed fee for the use of the vehicles. However, this just highltights the uncomfortable truth about Uber and Lyft: they place much more of their costs on the driver’s shoulders.
Most Uber and Lyft drivers fail to properly consider the costs of deprciation and maintenance and only look at gas. Hyre bascialyl shines a spotlight on this fact, and it will be much more obvious to drivers thast they are gettign screwed.
Uber, Lyft, and Hyre all point out that demand for their services far outstrips the suppply, but they lok at this as a huge growth opportunity and don’t recognize that the reality is that the supply is low because not because of any bottlenecks, but simply because it is unprofitable (for drivers) to meet the supply at the curretn price point. Normally, price would rise in a free market, but since the ones providing the supply (drivers) ahve little to no control over the price (Uber and Lyft do that), their will always be an imbalance. The only thign UBER and Lyft coudl do is to pay more to drivers, but *they ahve been moving in the opposite direction and still lsoing money*.
https://www.nakedcapitalism.com/2019/03/hubert-horan-can-uber-ever-deliver-part-eighteen-lyfts-ipo-prospectus-tells-investors-no-idea-ridesharing-ever-profitable.html
It’s no surprise that the CTO, CEO, and CFO are all from the banking industry.