Lyft and Uber said they will cease operations in Minneapolis after the city’s council voted Thursday to override a mayoral veto and require that ride-hailing services increase driver wages to the equivalent of the local minimum wage of $15.57 an hour.
Lyft called the ordinance “deeply flawed,” saying in a statement that it supports a minimum earning standard for drivers but not the one passed by the council.
They would only need to pay the driver 1/3 of the hourly wage for your 20 min ride so 5.3 dollars. Uber/Lyft would make 29-30 dollars.
That’s assuming the cars always have a fare on board - one truth of running a taxi is that there’s a lot of downtime when you don’t have a customer.
The extrapolated head math people like to do based on their narrow interactions to determine how large companies should run is rarely right or useful.