In recent past there have been 3 evil companies that come to mind – Monsanto, Enron & now Uber. Probably UBER is more evil than both Monsanto & Enron combined!!! Read on to find out why…

To put it straight UBER is a ponzi scheme company. Ever heard of a company that promises to double your money in 6mths time? Yeah UBER is exactly that kind of company and its shocking they never got caught!!!

It promises you an income of Rs 100,000 ($1,500) every month if you invest brand new Rs 1,000,000 ($15,000) Car and also drive it with Uber.

So a common man thinks OMG you can recover the cost in just 10 months and from then onward its profit and it seems like a very good investment to make.

In India Uber promises to pay car owners Rs 1,00,000 (approx $1,500) per month if they work approx 12hrs but Uber pays only Rs40,000. That too even when they drive 12hrs/250kms every single day. In driving 250 kms every day the drivers incur expenses of Rs 90,000 in 30 days (unfortunately the income is so low you cannot afford to take days off)!

• An Uber driver burns at least 10ltrs of petrol/diesel every day!
• All 4 Tyres needs to be replaced yearly.
• Full servicing & maintenance  expenses.
• Daily Car washing
• Yearly full Insurance cost
• Pays very high mobile Data & Call rate

The Uber fares are always at least 20% below the government approved Taxi fare established by the Trade Union and the Government. On top of this they reduce the fare another 20% as promotion frequently.

This undercuts a normal car owners/driver’s income by at least 40%.

So if this is not a fraud company then what is?

This undercutting works in US because a 75% car owners double up as drivers because of no jobs. But in India only less than 25% of the car owners drive Uber cars because of various reasons. In India owners buy the car and give it to drivers so in this case if the income is low there is nothing left to share between the two.

Uber says it charges Rs6 per km… but its passengers after traveling 10kms the fare is not Rs 60 but the fare is Rs215. The passenger feels he paid less when compared to paying the Govt Taxi rate of Rs 270 and he feels that he made a big savings. The truth is they are paying for a ride that they would not have taken otherwise.

Even the passengers wonder how is it possible to ferry people at such a low rate!

As for Uber the fare is NEVER fixed and it keeps changing based on various parameters like:

• base fare,
• per km fare,
• timebased fare,
• best of both time & km rate fare,
• surge fare

and thus you get clubbed with a mix of all the rates added together to get the highest fare based on the moment you booked the cab.

• Passengers get tempted by the low rate & spend on more rides.
• Passengers get charged 3 times more during peak hours
• Car Owners & Driver’s earnings are much less than before Uber
• Driver’s profit is reduced even more during promotions
• More passengers doesnt mean more profits because in 12 hrs its impossible to do more than 20 trips.

If this is not fraud then what is?

So who is the ONLY winner in this GAME? Of course Uber!

Uber earns huge income with ZERO investment.

Even in Sharemarket you have to pay money to buy shares. But with UBER the company makes ZERO INVESTMENT. Even the GPS and maps used are not of UBER but 3rd party apps like that of Google Maps & Waze Maps.

The car is invested in UBER by the owner who also has to pay a salary to the DRIVER. So Uber neither pays the Owner or the Driver any salary. What Uber pays is the bare minimum income to the driver so that the drivers keep their vehicle on the road almost perpetually.

1. Uber is no way entitled to take more than $0.50 for every trip for giving the lead. Nothing more, nothing less.
2. Minimum fare should at least be enough for a car wash (at least 250).
3. The money collected should go to the Driver’s Bank Account First instead of Uber’s bank.
4. It should be up to the Driver to deposit the Uber Fee of $0.50 for his trip at the end of the month along with the number of trips. This can be done easily digitally by the car owner. This is how things worked in traditional system and there was a reason for it… and its called TRUST. Which Uber doesn’t have of anybody!
5. It is up to Uber to keep account of this and not the drivers who are not very good in accounting.
6. Today there is no way a driver is able to make out if the amount he is getting at the end of the day is a profit or a loss.

LOSS is ONLY experienced by the Vehicle Owner!

Since UBER experiences no LOSS it can be said that it earns only PROFIT.

If this is not fraud then what is?

UBER is not a market disrupter it is a market destroyer.

The sooner people & government wake up and smell the coffee the better.

Wherever UBER has entered to do business there have been nothing but chaos… Passengers (riders) don’t realise that they are being cheated and overcharged… but the drivers know that the passengers are being cheated.

The drivers are realising that they too are being cheated… even in its home country USA…  drivers have become sick of the world UBER and are protesting against it…

Many people say “I UBER-ed” to office… the fact is the riders have been “ubered” or robbed of their money.

“Ubered” in the sense that they had been conned.

Due to peak hours when most people need Uber they have to pay Rs 500 & Rs 700 instead of the Rs 150 ride! Yet the driver never gets even half of this!!

UBER is a fraud company and people are being conned all over the world in a way never attempted before!!! Possibly the only exception being East India Company.

Its safe to say UBER is the East India Company (EIC)of this century!!!

EIC used and paid  the people of a country to destroy their own country completely… and then ruled over it once it was weak. Uber is doing the same thing using the drivers to destroy their own markets… and the drivers do not have another option once they have purchased the vehicle under a Bank Loan!!!

When UBER first comes to town (honeymoon period) they are very… Continue reading →