Going up and Uber

man using smartphone

Uber is everything that is great about business in the 21st century. The transportation service is not only cheap, it offers fantastic career opportunities. Below we have an in-depth look of the taxi phenomenon.

Who they are?

The inspiration for Uber came back in 2008 when Travis Kalanick could not find a taxi in Paris. By 2010, Uber was operational.

Kalanick, alongside Garrett Camp, managed to raise $1.4 billion in venture capital by August 2014, which has seen the company expand worldwide. Right now, the company is valued at an eye watering $40 billion.

The taxi firm has risen to the top in a remarkably short space of time thanks in no small part to its innovation.

How it works

Getting a taxi has never been easier than it is with Uber. Their instructions are simple to follow:

• First, tap to set your pickup location

• Request your taxi and a driver in the local area will accept, much like a roaming black or yellow cab

• Enter the address or name of your destination

• Once you have been picked-up, Uber shows the driver where you are going and shows you the route and the ETA.

Payment is done on card through the app, meaning that the taxi driver who picks you up cannot take you for a mug and take you on a goose trip. The more you use the service the better your rating gets. The better your rating gets, the better deals you receive. If you even wanted to, you can stream your music thanks to Spotify and Uber joining forces to give you the ultimate transportation experience.

Why you should get involved

If we look at this through the eye of the customer, the benefits of using the Uber applications are vast. The biggest one is that it offers you the certainty of booking a taxi with the flexibility and speed of hailing a cab. Uber’s occupation in the middle of this taxi spectrum allows them to offer the best of both worlds. The taxi service provided by Uber is usually cheaper than that of a roaming taxi. Getting involved with Uber is simple economics. They offer the best value for money of any of the taxi services in the world. If Uber did not work then why would cab drivers from all over the world be striking?

Looking at Uber from a business perspective, it makes sense to jump straight in. It is a case of spread betting, you have to make the decision on whether Uber is going to be the dominant force in transportation or the existing norm. Taking the time to learn how to spread bet is advantageous for knowing when to enter the market, which in this case should be right now. Taking up a “go long” position early on can help to establish yourself within this Uber world. Like customers, drivers have a rating. The best way to build up is to beat the rest of the competition in entering the market.

Future

The smartphone generation have spoken, we want Uber. Everything about it appeals to those tech savvy people. Will it be able to permeate into the older generations? The answer to that would be probably not, but every generation from 45-down is likely to be well versed with Uber over the next five years. Moreover, the app will have an adverse effect on other taxi companies who will have to start offering simil

  

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