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computer parts
Nov 18, 2010

PLEASE CLAP
"White person Taxi" refers to the drivers.

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nah thanks
Jun 18, 2004

Take me out.

computer parts posted:

"White person Taxi" refers to the drivers.

Woops. I misread that then. Although, not to just defend Uber here (they certainly have some worker classification issues to sort out), but most of my uber drivers in Boston have been minorities, so I'm not sure I buy that. Maybe in other cities it's different, but that hasn't been my experience with the service.

nah thanks fucked around with this message at 16:03 on Jan 16, 2016

OJ MIST 2 THE DICK
Sep 11, 2008

Anytime I need to see your face I just close my eyes
And I am taken to a place
Where your crystal minds and magenta feelings
Take up shelter in the base of my spine
Sweet like a chica cherry cola

-Cheap Trick

Nap Ghost
Now if there's a city that needs mass transit reform, Boston would be on that list...

fishmech
Jul 16, 2006

by VideoGames
Salad Prong

ToxicSlurpee posted:

Another big issue is that Americans have a weird love affair with cars. It isn't going to improve until the rest of the country improves mass transit as well. How many of the commuters into NYC are coming from beyond where mass transit runs? A lot of Americans also despise mass transit because then they have to deal with those people. Americans are also impatient as hell; they rarely want to wait for a bus or a train but want to just walk up to the curb and have their car or a taxi there waiting for them that they don't have to share if they don't feel like it. If you make using a car more expensive then you get into dangerous territory like making driving a privilege only the rich can afford in a nation where not having a car can completely gently caress you over.

How many people commuting into NYC are from beyond where the mass transit runs? Well, mass transit into NYC runs the entire length of Long Island, with branchin done so that about nowhere on the island is more than 10 miles from a park and ride station. Mass Transit into NYC runs up to Poughkeepsie along the Hudson (that's 83 miles) up to Wassaic to the east of that and in park and ride range of a decent chunk of Connecticut (90 miles), to New Haven in Connecticut at 81 miles, and with several branches to the north within Connecticut. It also runs 88 miles over to Port Jervis, NY which is nearly in Pennslyvania. And of course it's all over deep into NJ to the west, southwest, and south - these go as far as 65 miles away on a single leg, and with transfers that people regularly use, as much as 90 miles. Some people are commuting to NYC, by public transit, from within the commuter area of Philadelphia, or even Philly itself.

And that's just rail! There are a swarm of public and private bus lines that go in between and beyond the rail routes. There are commuter buses from northern Pennslyvania that pick people up at 5 am so that they can get to work on time across that distance and waiting through traffic (as much as 100 miles away). And there's lots of routes that connect to one or more rail lines if you live in between them, or across a river. Then there's also ferries you can drive to.

So basically, to be beyond mass transit to NYC, you've gotta be living like a 2.5 hour or more drive away, and also you gotta refuse to make use of the many, many, many park and rides on your way, most of which have been in operation for decades particularly for people who wanted to live a decent ways away from the city. The idea that New York City is congested because there's just so many people who live too far away to do anything but drive is ludicrous.

It's congested because it's the biggest city in the country, very densely populated, and you still need to do all sorts of deliveries and pickups and one off uses of a car that across 8 million people and god knows how many businesses - it adds up real fast, despite all the transit use. The only thing that could make the roads not congested would be to magically increase the land area a ton and have everything magically spread out without losing the public transit access it currently has.

silence_kit
Jul 14, 2011

by the sex ghost

squidgee posted:

Woops. I misread that then. Although, not to just defend Uber here (they certainly have some worker classification issues to sort out), but most of my uber drivers in Boston have been minorities, so I'm not sure I buy that. Maybe in other cities it's different, but that hasn't been my experience with the service.

That's been my experience too, but maybe the incidence of white Uber drivers is higher than in cabs. Honestly, I think the real motivation behind this point is that people are ideologically opposed to Uber and are inventing more justifications to dislike it.

I'm honestly shocked that some posters are totally happy with the quality of service from cabs--my experiences with cabs in Boston and the Bay Area have been worse than with Uber. I wonder if they will refuse to believe your experiences regarding cabbies in Boston avoiding black riders and say that the Uber drivers are bigger bigots too.

Subjunctive
Sep 12, 2006

✨sparkle and shine✨

fishmech posted:

10 miles from a park and ride station

Sounds like not having a car can gently caress you over.

OJ MIST 2 THE DICK
Sep 11, 2008

Anytime I need to see your face I just close my eyes
And I am taken to a place
Where your crystal minds and magenta feelings
Take up shelter in the base of my spine
Sweet like a chica cherry cola

-Cheap Trick

Nap Ghost

Subjunctive posted:

Sounds like not having a car can gently caress you over.

You aren't familiar with Long Island, are you

Subjunctive
Sep 12, 2006

✨sparkle and shine✨

ayn rand hand job posted:

You aren't familiar with Long Island, are you

Not especially, but if "10 miles from a park and ride" is the relevant fact regarding transit accessibility, it seems like you'd need a car to get those 10 miles.

nah thanks
Jun 18, 2004

Take me out.

silence_kit posted:

That's been my experience too, but maybe the incidence of white Uber drivers is higher than in cabs. Honestly, I think the real motivation behind this point is that people are ideologically opposed to Uber and are inventing more justifications to dislike it.

I'm honestly shocked that some posters are totally happy with the quality of service from cabs--my experiences with cabs in Boston and the Bay Area have been worse than with Uber. I wonder if they will refuse to believe your experiences regarding cabbies in Boston avoiding black riders and say that the Uber drivers are bigger bigots too.

I do think much of it comes down to ideological concerns about unattached workers, and Uber's inevitable replacement of those workers with autonomous vehicles. I've never spoken to anyone who actually prefers a yellow cab to an Uber - most of the people I know who have reservations about Uber are worried about either safety or workers rights, not the quality of service.

ayn rand hand job posted:

Now if there's a city that needs mass transit reform, Boston would be on that list...

No kidding, right? The MBTA is so close to being a great transit system (excellent public transit coverage for an American city), but also so far away from it (outdated equipment, limited service to many parts of the city, budget issues, graft, etc.).

nah thanks fucked around with this message at 17:17 on Jan 16, 2016

Subjunctive
Sep 12, 2006

✨sparkle and shine✨

squidgee posted:

I do think much of it comes down to ideological concerns about unattached workers, and Uber's inevitable replacement of those workers with autonomous vehicles. I've never spoken to anyone who actually prefers a yellow cab to an Uber - most of the people I know who have reservations about Uber are worried about safety of workers rights, not the quality of service.

But taxi drivers aren't employees either? They've never had well-protected jobs unless they actually own the medallion (pretty rare), and even then they operate at the pleasure of the dispatcher.

Why wouldn't a taxi company use autonomous vehicles as well? Such vehicles aren't going to do street hails, so they won't even be limited by the number of medallions any more in most places.

computer parts
Nov 18, 2010

PLEASE CLAP

Subjunctive posted:


Why wouldn't a taxi company use autonomous vehicles as well? Such vehicles aren't going to do street hails, so they won't even be limited by the number of medallions any more in most places.

It's a find & replace with traditional Big Government narrative.

The quick and nimble (free market/Uber) is able to adapt better than the slow and plodding (Big Government/established Taxis).

OJ MIST 2 THE DICK
Sep 11, 2008

Anytime I need to see your face I just close my eyes
And I am taken to a place
Where your crystal minds and magenta feelings
Take up shelter in the base of my spine
Sweet like a chica cherry cola

-Cheap Trick

Nap Ghost

Subjunctive posted:

Not especially, but if "10 miles from a park and ride" is the relevant fact regarding transit accessibility, it seems like you'd need a car to get those 10 miles.

It gets to be spotty in the ends of the North and South Forks, which are basically the remotest and least populated parts of Long Island.

nah thanks
Jun 18, 2004

Take me out.

Subjunctive posted:

But taxi drivers aren't employees either? They've never had well-protected jobs unless they actually own the medallion (pretty rare), and even then they operate at the pleasure of the dispatcher.

Why wouldn't a taxi company use autonomous vehicles as well? Such vehicles aren't going to do street hails, so they won't even be limited by the number of medallions any more in most places.

I don't disagree with any of this - I think the argument that Uber is somehow different than taxis with regard to worker's rights is ridiculous. I was just pointing out that the concerns I've heard are never about the quality of service, they're about worker's rights or rider safety, and that anyone arguing that Uber somehow provides worse service than a yellow cab must not have taken that many taxis in their life.

silence_kit
Jul 14, 2011

by the sex ghost

squidgee posted:

I do think much of it comes down to ideological concerns about unattached workers, and Uber's inevitable replacement of those workers with autonomous vehicles. I've never spoken to anyone who actually prefers a yellow cab to an Uber - most of the people I know who have reservations about Uber are worried about either safety or workers rights, not the quality of service.

Yeah the workers are kind of screwed in that they invest in the company by having to purchase a new car on their own dime, but they don't see any returns and only get wages.

I'm not arguing against that. I'm just laughing at the posters who don't like that aspect of Uber, so they then kneejerk and say that everything about Uber is worse than taxis.

computer parts posted:

It's a find & replace with traditional Big Government narrative.

The quick and nimble (free market/Uber) is able to adapt better than the slow and plodding (Big Government/established Taxis).

It's not just a narrative. Uber has adopted new smartphone/computer technology more readily, and as a result it is way easier for someone to get an Uber than call a cab.

silence_kit fucked around with this message at 18:47 on Jan 16, 2016

fishmech
Jul 16, 2006

by VideoGames
Salad Prong

Subjunctive posted:

Sounds like not having a car can gently caress you over.

I don't think the people living in million dollar homes have to worry about not having a car. And clearly if you don't have a car you're also not commuting by car 110 miles into the city either.

ayn rand hand job posted:

It gets to be spotty in the ends of the North and South Forks, which are basically the remotest and least populated parts of Long Island.

And also places where the only people commuting to work in New York City are fairly fuckin' rich, to afford both the commute, and the majority of the housing out there.

MiddleOne
Feb 17, 2011

Haha what in the actual gently caress

http://www.bloombergview.com/articles/2016-01-15/uber-is-raising-more-money-from-rich-people

quote:

Would you invest in Uber at a $62.5 billion valuation without looking at its financial statements? I don't mean, like, reading every word of the notes; I mean, you don't even get "basic financial data such as net income and official annual revenue figures." Sound good?

Obviously it sounds a bit dumb when you put it like that. Or, not obviously, not obviously at all: Morgan Stanley and Bank of America Merrill Lynch are offering their rich private-wealth clients just that opportunity, as Bloomberg's Julie Verhage reported yesterday, and presumably those clients don't all think it's a dumb idea. It's all in the tone of voice, the emphasis. "Do you want to invest in the hottest of all the unicorns before regular people can?" Sign me up! "Do you want to invest in a private company at a $62.5 billion valuation, but we can't tell you anything about it?" Errrmmm.

But you can say it other ways, too. Like: "Do you want to invest in the T. Rowe Price Media & Telecommunications Fund?" Because last month Bloomberg reported that Uber had "closed investments from Tiger Global Management and T. Rowe Price" as part of a round done at the same $62.5 billion valuation it's seeking from private-wealth investors now, and T. Rowe's latest quarterly holdings disclosure lists about $17 million of Uber stock in its Media & Telecommunications Fund. That disclosure was only released today, meaning that if you bought shares of the fund over the last month, you already invested in Uber at a $62.5 billion valuation not only without seeing the financials, but without knowing you were buying Uber at all.

The whole article is amazing.

Colin Mockery
Jun 24, 2007
Rawr



Aside from the problems with Uber's business model, the CEO is a huge loving douchebag and they're the ones spearheading the whole "leasing unaffordable cars to desperate people" thing so if you're in the Bay Area and don't want to take a cab because cabs suck, just use Lyft or Sidecar (are they still around?) instead. Lyft's service is not meaningfully worse than Uber's, and they also take black people (but maybe not diasbled people).

Bushiz
Sep 21, 2004

The #1 Threat to Ba Sing Se

Grimey Drawer

Subjunctive posted:

The vast majority of drivers I ask say they like driving for Uber, so the blog posts are likely heartfelt, if perhaps overwrought.

How odd that people who are likely to get fired and left underwater twice over on a car loan by the company they work for if they complain to customers don't complain to customers.

Subjunctive
Sep 12, 2006

✨sparkle and shine✨

Lyft's service late at night is noticeably worse for the places I take them, but generally I take UberBlack because they're reasonable-for-the-driver rates and so forth.

Do people usually get notified when/before a mutual fund they hold makes an investment in something? I don't pay a ton of attention, but I don't think I ever have other than the periodic statements of their holdings.

E:

Bushiz posted:

How odd that people who are likely to get fired and left underwater twice over on a car loan by the company they work for if they complain to customers don't complain to customers.

I suppose, yeah.

Soy Division
Aug 12, 2004

I take Lyft because gently caress uber, but let's review my last taxi ride here in Chicago: driver spent the entire ride ranting about Uber, then his credit card machine was magically broken at the end of the ride. Hmmm I wonder why people take Uber...

Also about 70% of my Lyft drivers here are minorities, I just had an amazing chat with my last one about gentrification in Chicago. Dude knew his poo poo and was D&D as gently caress.

MiddleOne
Feb 17, 2011

Subjunctive posted:

Do people usually get notified when/before a mutual fund they hold makes an investment in something? I don't pay a ton of attention, but I don't think I ever have other than the periodic statements of their holdings.

Nope, but funds usually don't invest into assets for which they have done no due diligence as in this case. It's kinda sketchy to put your clients money into a company of which you haven't seen a single audited financial statement without at least disclosing this risk to your clients before you do it.

Subjunctive
Sep 12, 2006

✨sparkle and shine✨

Xoidanor posted:

Nope, but funds usually don't invest into assets for which they have done no due diligence as in this case. It's kinda sketchy to put your clients money into a company of which you haven't seen a single audited financial statement without at least disclosing this risk to your clients before you do it.

Yeah, I'm guessing it was a "growth fund", for which the fund parameters are basically "lol yolo". A small investment in Uber is probably the right thing for a growth fund, since it's the kind of thing people buying in expect it to hold, and "yeah, everyone lost on Uber" doesn't really hurt their ability to attract future buyers. I wouldn't be surprised if it was a checkbox investment after they passed on earlier rounds.

Kinda wish I held a share of that fund so I could ask pointed questions of the managers, though!

Necc0
Jun 30, 2005

by exmarx
Broken Cake

Subjunctive posted:



Do people usually get notified when/before a mutual fund they hold makes an investment in something? I don't pay a ton of attention, but I don't think I ever have other than the periodic statements of their holdings

Typically they'll issue guidances on their overall strategy but no I don't think they disclose individual movements

Hal_2005
Feb 23, 2007

Necc0 posted:

Typically they'll issue guidances on their overall strategy but no I don't think they disclose individual movements

By law, all mutual funds need to send out a end of month NAV statement and an end of year tax note. Other than these two pieces of documentation, open end funds only provide materials on request. Often this takes the form of a single website with a bunch of heavy prospectus documents. Weights, adjustments, trading commissions and non-disclosed relationships (ie. your financial analyst is moonlighting for a .com company board seat) only must be disclosed when you make a specific request, via legal counsel to the compliance department of that fund.

TLDR: Dont loving invest with a mutual fund, that's like paying someone to write posts for you on SA.

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Haifisch
Nov 13, 2010

Objection! I object! That was... objectionable!



Taco Defender

Subjunctive posted:

Yeah, I'm guessing it was a "growth fund", for which the fund parameters are basically "lol yolo". A small investment in Uber is probably the right thing for a growth fund, since it's the kind of thing people buying in expect it to hold, and "yeah, everyone lost on Uber" doesn't really hurt their ability to attract future buyers. I wouldn't be surprised if it was a checkbox investment after they passed on earlier rounds.
Ding ding ding!



Hal_2005 posted:

TLDR: Dont loving invest with a mutual fund, that's like paying someone to write posts for you on SA.
Or you could just pick a sane mutual fund, like an index fund. I guess you could spend the time and energy to pick out a properly diversified set of individual stocks yourself, but why bother? Most people don't know enough to diversify well, and a good fund will do the same thing for less effort.

The fund that bought into Uber was an media & telecommunications fund, and aimed for aggressive growth. Uber's exactly the sort of thing I'd expect that to buy. They've invested roughly as much into AirBnB and Angie's List, and a bit less into Dropbox, for perspective.

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