Warning, warning, this is a disclaimer. If you want to be a full-time driver, you cannot skip this video. This is super important. I am going to try to convince you not to do rides [as] your full-time [job], which is, kind of, against this whole course, so that those who should, they will actually ultimately do it because a lot of us shouldn’t do it.
Let me talk about a couple things. Rideshare is still a new industry and it’s constantly changing, and there’s been a lot of people who’ve actually gone bankrupt because of the changing times in the rate cuts.
So what happened is, in the very beginning when people were making a killing as [it was] very easy to make money in rideshare, a lot of people got excited and said, “Hey, Bill, Joe, join me in this. This is so easy. I’m just sitting my butt and making a killing.”
And that’s when you were hearing a lot of people, you know, making $100,00 or so a year. But, because the rate change or the rate cuts, it’s been very, very hard and only the strong have survived as I’ve said in many times.
And so, what some drivers did is that they took out big loans, or they did lease cars, or the car payments, that they couldn’t afford without that huge income. And because they didn’t have a fallback, all of a sudden, they defaulted and they went bankrupt, and some people are sleeping in their cars, and they can’t sustain and they can’t afford their cars anymore.
So, know that the industry’s always changing and if you don’t have a backup capital, you don’t have savings, you don’t have other options, this is not very good for you. Oftentimes full-time would be good for if you’re in between jobs, or if you want to just do it for a couple years, and want that, kind of, unlimited flexibility.
But there are income challenges where you can only make so much because you can only work so much. And so you have to keep all that in mind. And also keep in mind this, we’re probably gonna be replacing about 10 years by driverless cars, and so you can’t put all your chips in this one basket and hope that you’re going to make this long term.
And so, keep that in mind, and I’m gonna tell you more about what it takes to drive full time. And, wait, one last thing. If you are driving UberX and you only have an economy car or a regular car for lift, it’s gonna be extremely hard.
You can do it but it’s really hard. So, we’ll talk more about that, but keep that in mind. And so, that’s the end of my disclaimer. And the rest of it, I’m going to talk to you [about] how to maximize your time and what it would take to drive full time.