The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop #02005

Submission Number:
02005
Commenter:
lo
State:
Texas
Initiative Name:
The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
Uber is a cash machine. Uber takes 28% to 40% out of every trip. Globally, they have 2 million trip a day. Average trip fare is $10. That means, their daily revenue is US$20 million or US$600 million in a month. With so much easy money (approximate US$6 million) cash in every day, Uber hires lots of lobbyists. Needlessly to say, some media or paid people will speak favorably for Uber. Money talks. This is the ugly side of capitalism.