Rideshare Experiment #2

There's an old saying - once is a mistake, twice is a problem. Well...

Yesterday was another nice spring day in Northern NJ so I decided to take another crack at ridesharing. This time I made a plan! Friday evening I received an email from Lyft showing revised peak hours - when pricing is higher. Saturday from 11am to 1pm was noted so I decided I would target that time frame.

I gassed up at 10:45am paying $2.40 (regular). Nice thing about the BMW that it runs fine on regular even though they suggest 93. According a BMW engineer I met, the on board computer will compensate for the lower octane and albeit you might get slightly lower mileage, the cost of premium being what it is, you save money with 87. And it won't hurt the engine.

Once the fill up was complete, I waited. Turned off the engine, I might add, and waited. Right at the station. Ten full minutes passed before I got my first ride. Guess what? Four nice Millennials heading to - YANKEE STADIUM!

After my trip to Tatiana, I suspect those folks crossing the Hudson opt for Lyft. Why? You already know the answer. So, when I asked these fine young people they said - IT'S CHEAPER! Twice is a problem...

Took about an hour via GWB (George Washington Bridge). As previously mentioned, I can't pick up in NYC so I made a Bee line back over the bridge - toll is coming thankfully - and waited. Again. In Fort Lee. Engine off. And waited. I guess I should have brought a book...

Crickets. The nice thing about the rider app is it show the cars in the vicinity. There's no corresponding function that tells if you people are thinking about going somewhere. If there were only an app for THAT.

So, I decided to call an audible and switch to Uber. I wrote in a previous post about a feature that lets you pick up rides to a destination. So I entered HOME and got back on the road. And guess what? More crickets. Down the Turnpike. Nothing. Drove THRU Newark Airport. Surely someone needs a ride west??? Zippo. Back on 22 west. Nada. Made it all the way home. Nary a ping.

So I hung it up for the day. Total damage in just under 2 hours of driving - 81 miles, $8.17 in gas, $22.65 in tolls + COGS ($.575 * 81) = $77.40. Lyft payout $75.27. Grand total -$2.13. Another banner day...

So, what's the takeaway? Besides don't drive for Lyft in NJ? Well, don't drive for Lyft in NJ!

My next experiment - if there is one - will be Uber centric, surge pricing in a more concentrated urban environ. There HAS TO BE a model whereby a driver can make money. If not, when their stock goes public, its a SHORT...

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