Uber's The Great Recession

The United States is a country that over the years has relied on its economic stability to continue providing acceptable living for its citizens and continue its leadership of the free world. This country went through an economic depression which lasted several years throughout the 1920’s and the 1940’s but successfully recovered from it after World War II. An economic boom in the 1990’s during George Clinton’s Presidency the federal budget was managed to be balanced and helped increase the economic crisis of the United States. The recovery did not last long as the United Stated went through a huge recession during George Bush’s Presidency in what many experts called the “Great Recession” which affected many especially businesses and middle class citizens. Although today many consider the recession to be over the effects of it can still be felt today specially by many middle class families like my own. I come from a small family of three which includes my parents and me. My family comes from minimum wage salaries and have been part of same line of work for many years however, the amount of necessities the family can afford has definitely changed. For example, the amount of groceries you can buy nowadays with a $20 bill is much less than those of the 1990‘s. The price of gas has certainly gone up which has caused many companies to outsource jobs or close down. My dad was laid off his dream job due to budgets cuts while my mom’s working hours have been reduced. As a result my

This report, entitled “New York City Taxicab Medallion Value Analysis,” presents key facts and data of New York City medallion transfer transactions from January 2016 to April 2017. The review and analysis in this report are based on information provided by the New York City Taxi and Limousine Commission (“TLC”), primary data collected from NYC taxi medallion brokers, and supplemental information gathered from various sources in the for-hire vehicle (“FHV”) industry in NYC. Our review was conducted using all transaction data which distinguishes the two types of NYC taxi medallions: independent and corporate (also known as mini-fleet).

Uber. To many, it is the preferred mode of transportation for a sporting event or concert when traffic is mayhem. To others, it’s a convenient and fast way to step up in da club and get your jiggy on. I have used Uber a couple of time in the states and for the most part, the rides were smooth, comfortable, and direct. As I was embarking on my study abroad journey in Puebla, Mexico, my group was advised to use Uber as it is securer than taxis in Mexico. The first week using Uber was lit. Short time waits and swift pick-ups, no confusion with locations, drivers with good music taste and complimentary water and candy. Drivers would even open the car doors for us, classy af [or you can put “such high class

The thesis of this article explains that despite surge pricing achieving the goal that it’s supposed to, (bring more drivers online and present available services to consumers who need them the most) most believe Uber is taking advantage of customers by using extreme multiplier prices. While the author states that this issue between price and product/service is giving Uber a relative degree of bad press, he also gives solutions as to how to fix this problem.

Intro: Studying Economics in the backdrop of the Great Recession emphasised the power that Economics leverages upon global society. My lack of understanding of the Economic mechanisms behind the recession led me to read Krugman's "End This Depression Now", and attend the Cambridge University Marshall Society Conference, “The Power of Policy”. The most engaging debate was that between Madsen Pirie of the Adam Smith Institute, and Lord Skidelsky. Both these sources introduced me to alternative perspectives regarding the causes and effects of the recession; however, what I found most interesting was witnessing the polarizing beliefs of the most efficient way to respond to the UK’s recession, both from highly respected academics. In Krugman’s opinion

In recent months, there has been controversy surrounding the fairly new and popular concept of ride sharing companies . Primarily, ride-sharing companies are online-based networks that connect passengers with drivers that use their personal vehicles through a mobile platform. Some of the most popular ride-sharing companies include the well-known Uber, Lyft, and Wingz’s. The packleader of them all, Uber, has recently been challenged by the government, taxi companies, and their own drivers over legal matters. They have been accused of bending around labor laws and disregarding regulations around transportation for hire industry in many of the large US cities where they are present. In mid-2015, Uber has been involved in at least 173 different

The article “Uber’s New Goal: Flying Cars in Less Than a Decade” by Jamie Condliffe, appears in the MIT Technology Review. Uber has announced it wants to build an on-demand urban aviation system. The article explains how Uber is not content with upending the taxi industry and developing self-driving cars. Even though the idea seems a little outrageous, it seems that Uber is completely serious. The company has also recently published a statement that declares urban air transportation will use three-dimensional airspace to alleviate transportation congestion on the ground. Another point to mention, Uber does not plan to build the cars. Instead, they hope to other companies to create them. To be fair, Uber realizes there are hurdles. In their

In modern society’s day and age, we still have many types of transportations that helps us complete some of our daily needs. You can drive, grab a bus, take a train or even get a quick workout and walk. However, as society progressed and wages increased, people start spending money on other ways to get around instead of driving themselves such as Uber: an app that allows other people to drive you places for a small fee depending on its location. Uber may be cheaper than having your own car but it isn’t always very reliable or convenient. Having your own car provides a reliable source of transportation. Although insurance and maintenance can be pricey; Uber is a relatively cheap and easy system of transportation, although it can be unreliable.

This industry has already started expanding their business more than just ride sharing application they have gone into electric driving. One of the CEOs Travis Kalanick of this business said it will be intense, but it is only for expanding the company on making more profit (Felton). In Ryan Felton article he stresses Uber overall problem is will their money last enough to have a trucking and a driverless car. I believe that if Uber budgets their money right and avoid lawsuits they can expand one part of the company at a time.

Since operating 7 years ago, Uber has seen a great business as alternative for taxi. In 2016, Uber service is accessible in 66 countries and more than 507 cities internationally. The rise of Uber become people favorite choice especially the one living in the urban center. Besides, the low rate charge for Uber also become one of the main reasons why people prefer to use its service rather than the traditional taxis. In some cases, taxi charges are quite high even though the distance is short but due to traffic jam, the duration waiting in a taxi to arrive may feel longer. Even so, some taxi drivers also have the tendency forgotten to switch on the distance meter on their taxi thus charged the passenger for an unreasonable price. Moreover, it

Although, to the state of Virginia, the service of Uber is claimed to be improper and unprofessional due to the fact that “Uber does not have the ‘proper authority’ to transport passengers”, the convenience and benefits Uber brings to the passengers and the society are undeniable.

I think Uber reputation definitely tarnished by the recent bad press. However, it does not seem to stop the millenniums from continue using their services. I came across an article about a generation of “sharing and not caring”. It said “Millenniums came of age during the Great Recession, and it is slow, grinding aftermath. Their habits were shaped by a bottoming-out of the housing market and the disappearance of easy credit. The generation with the highest-ever burden of student loan debt also saw a sharp contraction in wages.” (Davis O., 2015) The technology allowed more possession to live online, therefore, millenniums tend to drive less, and some don’t even own a car This may be one of the factors why uber remains popular despite

Nowadays, the new generation of young adults are using the taxi service called, “Uber” or, “Lyft.” Uber and Lyft are much convenient compared to a regular yellow tax company because, at a click of a button using your smart phone, your location gets sent to the driver, and they pick you up using your location services. Uber and Lyft gets used more often because it can be cheaper and it is efficient. Uber also offers a service where you can get picked up in a black Cadillac, also known as VIP service. Also with Airbnb, the young generations coming up is more creative and want to try new things. This effects the supply and demand in the markets for shared rides is where supply is low and demand is high. Uber and Lyft are now taking over to a point,

I frequently use Uber and have discussed their ride sharing services in several other courses. I did find it surprising that the company or even car manufacturers are looking into the idea of driverless cars and rides. I still do not trust the entire concept of driverless vehicles and I believe Uber should work on other aspects of the service before even having discussions on this topic. I would mainly want to work with Uber to improve in app offerings for safety purposes. I have already seen Uber in the news due to the criminal actions of some of their drivers. Like most people on the board have stated, Uber definitely needs to do further investigations when it comes to background checks of their drivers. I believe Uber should integrate a

In early 2015, Uber Technologies Inc., the company that invented and developed technology platform to connect driver-partners and riders via smartphone apps since 2009, decided to refresh their brand and drew attention by rebranding. The rebranding includes a new logo, updated colors and patterns based on cities and a fresh direction for the ride-sharing company. Uber promised that this rebranding will transform its purpose and cement a new reputation to change not only how it is perceived throughout the world, but how it perceives itself. "We created a beautiful new brand for the company that will lead us forward for years to come" Uber's head of design Andrew Crow said. Howsoever, many people think that Uber failed to rebrand.