As UberX and Lyft Get Cheaper, Should You Sell Your Car?
The new prices are an experiment in stoking demand. If the cost of a single ride drops far enough, people may begin abandoning their cars for their daily commute or midday errand.
What's the Latest?
Two industry disruptors, Uber and Lyft, are changing the way people commute in urban centers. This summer, the companies are rolling out new pricing schemes meant to outfox established taxi companies. "The price cut amounts to 20 percent in New York and 25 percent in San Francisco and Los Angeles. By the company’s math, that leaves the price of a ride lower than that of a taxi in New York, and in other cities the price is now significantly lower." In some markets, Uber is forsaking its 20 percent commission to keep prices low. But why would a company purposefully take a loss on each transaction?
What's the Big Idea?
The new prices are an experiment in stoking demand. If the cost of a single ride drops far enough, people may begin abandoning their cars for their daily commute or midday errand. The effect may be a low-margin business but one with a guaranteed demand for the foreseeable future. "The whole point of price cuts is to get UberX pricing below the cost of owning a car," said Uber’s chief executive, Travis Kalanick. "Let’s say you take three or four trips a day on average. If we can get the price of UberX low enough, we can get to where it’s cheaper to take Uber than to own a car."
Read more at the New York Times
Photo credit: Shutterstock
Since the idea of locality is dead, space itself may not be an aloof vacuum: Something welds things together, even at great distances.
- Realists believe that there is an exactly understandable way the world is — one that describes processes independent of our intervention. Anti-realists, however, believe realism is too ambitious — too hard. They believe we pragmatically describe our interactions with nature — not truths that are independent of us.
- In nature, properties of Particle B may be depend on what we choose to measure or manipulate with Particle A, even at great distances.
- In quantum mechanics, there is no explanation for this. "It just comes out that way," says Smolin. Realists struggle with this because it would imply certain things can travel faster than light, which still seems improbable.
E-cigarettes may be safer than traditional cigarettes, but they come with their own risks.
- A new study used an MRI machine to examine how vaping e-cigarettes affects users' cardiovascular systems immediately after inhalation.
- The results showed that vaping causes impaired circulation, stiffer arteries and less oxygen in their blood.
- The new study adds to a growing body of research showing that e-cigarettes – while likely safer than traditional cigarettes – are far from harmless.
The Russian-built FEDOR was launched on a mission to help ISS astronauts.