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Uber's IPO flop bodes ill for Grab and Go-Jek


awhtc
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Supersonic

I saw an S-class (S350 cheaper model) at Kopitiam Square. I thought the driver must have got very good lobang with the rich and well to do.Near where I work there are 2 E-class and an A6, all with PHV stickers. I assume these probably belongs to retirees just want to past time or looking for people to talk to. 

 

Anyway... I have been talking to the drivers whenever I had the chance to Grab, most 60+ drivers are just doing to past time or have some coffee money. They felt bored at home and would like to serve the community hence they drive. These are the groups that don't bother about ratings and incentives.

 

The younger ones will tell me that they have no choice even if the incentives sucks then KPKB about the company being unfair milking the drivers and such. Usually these will end with "You ask so much you wanna come in and be my competitor ar?"

 

If a retiree is rich enuf to own a S-class or e-class, dun tink he/she will be driving a phv to past time.

 

I think it's the luxury fleet belonging to Wolero: https://www.wolero.com/woleroSite/fleet.aspx

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Twincharged
(edited)

Grab biz model is slightly different. Anything that needs moving they do it. From food to micro finances to packages

 

Making good on the money is something else. Just like Tesla., how do u make money from shooting space rockets? Unless it’s going to be the scoot of the future space travel, I doubt it’s money making

Edited by Sdf4786k
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Turbocharged

aiyo tis is serious

 

tot the merc a class with a decal i saw was the exception....

think car rental companies by default put the decals one... like no exception.

 

when my car went for repair the replacement merc also had a phv decal

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Supercharged

Grab biz model is slightly different. Anything that needs moving they do it. From food to micro finances to packages

 

Making good on the money is something else. Just like Tesla., how do u make money from shooting space rockets? Unless it’s going to be the scoot of the future space travel, I doubt it’s money making

 

Actually, there is a lot of demand to deliver micro satellite payload to space. 

 

As for now, only NASA can do it and they cost a lot. Tesla is trying to be the budget rocket carrier. Another one is Rocket Lab.

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Hypersonic

True dat

 

I've taken Uber a few times in US and many do it as a part-time thingy to monitise downtime or make some extra cash over the weekend using their own car. Had this driver who's a high school teacher n his wife & kids were out of town that weekend so instead of being bored home alone, he drive. Another guy 80-yr old retiree drive in between dropping off his grandkids at school n picking them up

 

In sg when u hear young, able-bodied men rent car to drive full time, can't help if they're wasting their youth w no career plan

To a lesser degree but much more wide spread affecting lots of people would be lots of students, men in 20s and 30s doing food delivery with their bikes and pmd.

 

They could be resting, or doing stuff that help with their careers.

Even a normal job can have how much downtime for u to get a break.

 

While many of them r doing it to supplement their income in an expensive city. But it's short term gains over potential longer term incremental benefit to their life and health...

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Supercharged

Actually, there is a lot of demand to deliver micro satellite payload to space.

 

As for now, only NASA can do it and they cost a lot. Tesla is trying to be the budget rocket carrier. Another one is Rocket Lab.

Other than NASA, Arianespace is also doing commercials space launch for a long time. Now space x is getting more market share.
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Turbocharged

In sg when u hear young, able-bodied men rent car to drive full time, can't help if they're wasting their youth w no career plan

 

These locals are jobless. Same goes for the Grabfood delivery people.

 

No harm working legitimately to lay food on the table.

 

The job market is way too competitive - too many Foreign Talents (many of whom are jobless in their home countries) snatching away jobs from locals.

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I am surprised Uber cannot make money.

 

Their cost is computers and the programers.

 

They match buyer and supplier like airbnb or hotel.com or even carosell.

 

I think their real cost is incentive to driver and discounts to riders.

 

Remove these two and it's just cost of the apps.

 

I really cannot understand why they cannot make money.

 

:D

That was what @kodiaqer was talking about.

 

It is precisely, at least in Singapore context, because PHV like uber is sinking in lots of funds to actually buy the cars to rent out that they lose money. As long as there are people renting, they earn. But once they stop renting (maybe because they can't earn enough to sustain their car), uber loses big time.

 

Like what he mentioned about airbnb. Air bnb makes a lot of money cos they match property owners to people who want to stay for a short while in the property. If Air bnb actually goes into property market and buys up condo apartments for people to rent so that they can have a roof over their heads (private ownership of condo) and then let these new condo owners start their airbnb business, I think air bnb will go bust very fast.

 

In air bnb, people own their properties and subscribe to the app.

 

By right for uber, people should own their cars and subscribe to the app. For some reason, in Singapore, uber actually buys the cars and take on the costs and risks of car ownership and then rent them out to aspiring PHV drivers.

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Hypersonic

That was what @kodiaqer was talking about.

 

It is precisely, at least in Singapore context, because PHV like uber is sinking in lots of funds to actually buy the cars to rent out that they lose money. As long as there are people renting, they earn. But once they stop renting (maybe because they can't earn enough to sustain their car), uber loses big time.

 

Like what he mentioned about airbnb. Air bnb makes a lot of money cos they match property owners to people who want to stay for a short while in the property. If Air bnb actually goes into property market and buys up condo apartments for people to rent so that they can have a roof over their heads (private ownership of condo) and then let these new condo owners start their airbnb business, I think air bnb will go bust very fast.

 

In air bnb, people own their properties and subscribe to the app.

 

By right for uber, people should own their cars and subscribe to the app. For some reason, in Singapore, uber actually buys the cars and take on the costs and risks of car ownership and then rent them out to aspiring PHV drivers.

 

Wow to buy millions of dollars worth of cars or condos

 

and hoping can find people to rent it out to that's really risky.

 

:D

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Twincharged

To a lesser degree but much more wide spread affecting lots of people would be lots of students, men in 20s and 30s doing food delivery with their bikes and pmd.

 

They could be resting, or doing stuff that help with their careers.

Even a normal job can have how much downtime for u to get a break.

 

While many of them r doing it to supplement their income in an expensive city. But it's short term gains over potential longer term incremental benefit to their life and health...

Come on, if one has the choice, of course no ones wants to have 2 jobs.
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Hypersonic

Come on, if one has the choice, of course no ones wants to have 2 jobs.

I know lah. But these type of gig jobs, it's really hard to self regulate yourself to get the rest u require.

On the other hand, working a fixed number of OT hours on your regular job, probably makes it more easy to regulate.

I'm assuming that u can work grab food or deliveroo jobs like virtually any time or day.

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Supersonic

I know lah. But these type of gig jobs, it's really hard to self regulate yourself to get the rest u require.

On the other hand, working a fixed number of OT hours on your regular job, probably makes it more easy to regulate.

I'm assuming that u can work grab food or deliveroo jobs like virtually any time or day.

I juz find it hilarious that phv companies brand themselves as a 'technology company' juz becoz u order their service thru an app. Teksi company say teksi company lah

 

I order pizza or kfc thru my app oso. Are they a 'technology company' too?....lol

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it will be a tech pure play if it din fund the rental car fleet acquisition

 

then the qn why did it

 

cos supply side not enough to meet demand

 

which means business plan koyak never did properly

 

nvm change business plan and sell it to all the ah gong stupid venture capital and oh car manufacturers 

 

so car manufacturers put money to enhance the tech part which is the app?

 

of cos not we know where the money goes to......

 

COE!!!!!!!!!

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Supersonic

it will be a tech pure play if it din fund the rental car fleet acquisition

 

then the qn why did it

 

cos supply side not enough to meet demand

 

which means business plan koyak never did properly

 

nvm change business plan and sell it to all the ah gong stupid venture capital and oh car manufacturers

 

so car manufacturers put money to enhance the tech part which is the app?

 

of cos not we know where the money goes to......

 

COE!!!!!!!!!

Coz biz model is flawed to begin wif

 

Set up shop where car ownership is the most expensive in the world? That's like trying to set up an expensive restaurant in a poor country. Not many genuine customers. Instead, have to spend $$ to supply vouchers for ppl to use so they can eat at the restaurant. How to make $$ liddat?

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