This guy figured out Uber and Lyft have been paying him a whopping 42 cents per hour
You could make more money by looking through your friends’ couch cushions.
Uber and Lyft offer a great way to make some extra cash or even start your own small business. Or do they? For one ride-sharing driver, the answer is a firm no when looking at his per hour rate.
Road Guy Rob recently took to YouTube to explain just how much money he made during nine hours of driving. He explained:
You won’t believe how much money my Excel spreadsheet said I made after 9 hours of driving. On a whim, I signed up for both Uber and Lyft to see how much net profit I could make. After a long day of driving, I opened Microsoft Excel and entered my gross income and subtracted all my expenses. It gave me a picture of just how lucrative it could be for me to drive for ridesharing apps.
So how much did he make? Just 42 cents per hour. Yes, you heard that right. For a quick explanation, by the time you take off 40% for taxes (Uber and Lyft drivers are technically contracted workers), gas, and wear-and-tear on the car, the numbers become increasingly dismal.
Check out the video above to learn more.
Do you work for Uber or Lyft? What do you make per day?
For more Uber news, see:
- If you’re willing to wait, Uber is testing a new feature that will charge you less for trips
- You can no longer book an Uber through Google Maps
- Uber might use artificial intelligence to know when you’re drunk