Business Uber Drivers Don’t Want To Die On Cross-Border Trips Into Mexico Published 3 years ago on August 9, 2015 By Justin OConnell Earlier in the year, reports leaked that rideshare service Uber was surveying its drivers about their feeling on driving customers between the United States and Mexico. Hacked has learned that Uber continues with the survey to this day, as Uber drivers received requests to participate in such a survey as late as last week. Uber intends to incentivize drivers for the trip with new trip requests and higher profits on international routes. Drivers remain less than enthusiastic about the option, although some are open to the idea. “No thanks,” one Uber driver told Hacked. “There are so many problems with Uber in Tijuana you have to be so be careful if you drop a pax out there,” noted another. “Pax” is Uberese for the passenger. “Not a chance!!!!” said another driver. Some said they would possibly feel comfortable if they were Hispanic. Others would never do so. “No way. The time to cross back is a nightmare, and the insurance issue alone cannot possibly make this a feasible idea,” said a driver. Citing it as a reason not to accept such rides, some drivers shared a video of Uber drivers being attacked in Mexico City. Some thought they might die while making the trip. Read More: Uber Offers Direct Vehicle Leasing “Have fun with that because of the legal issues and everything else. Not worth it. I choose to live and die old,” a driver told me. “Nah! I Value my life too much.” “Wow, that’s scary to drive across the border,” said another. “That’s risky driving.” “Hell no!!” said another. “That sounds like nothing but trouble,” said yet another. “I haven’t heard this. I wouldn’t ever go into Mexico,” said one woman. “No way, Jose. See what I did there,” said a clever male driver. “You mean to tell me, Uber wants me to take the pax across to another country for $40, and best case scenario face a 5-hour wait to cross back? lol,” said a male driver. Some drivers are open to the idea although they didn’t view it as a feasible option for Uber. Read More: Uber Users Complaining of Hacked Accounts “I received the text recently asking if I was interested. I am comfortable driving into Mexico and have since I was 18, but there seem to be too many hassles with this idea: Internet, border wait, authorities,” she said. Would-be passengers, however, seem to think it is a good idea. “I think this is an awesome idea to implement in the border cities of Juarez and Tijuana. I hope Uber makes this official soon, so the people in these twin border cities can enjoy better private transportation.” “Great idea,” said another. One individual who lives in Baja California did not see how such a plan was feasible. “I find the only time to come back to San Diego without waiting is 7 am latest. I hate the two-hour wait. Insurance is high. Don’t see how it can work…But I am listening to feasible possibilities as I do cross a few times a week.” There could be some options for Uber, however. The US government’s SENTRI program cuts down the border wait. All you need to do is consent to a full background check, and pass said background check. Uber would likely have to target drivers with this card to ensure its drivers do not spend hours waiting at the border. Further, these drivers are likeliest to have international insurance and cell phone service. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Justin OConnell 5 stars on average, based on 1 rated postsJustin O'Connell is the founder of financial technology focused CryptographicAsset.com. Justin organized the launch of the largest Bitcoin ATM hardware and software provider in the world at the historical Hotel del Coronado in southern California. His works appear in the U.S.'s third largest weekly, the San Diego Reader, VICE and elsewhere. Follow @HackedCom Feedback or Requests? Related Topics:Border Issuesmexicouber Up Next Bitcodin: Be Your Own Netflix With Ease Don't Miss Will Jet.com Invade the Mighty Amazon? You may like Three Country Exchange Traded Funds Offer Potential For Investors Trump Administration Takes Hard Line as NAFTA Talks Underway Watch This Penny Stock As Mexico Approves Medical Marijuana Finally: The Flying Car, Courtesy of Uber Beware Uber Drivers! The Robot Cars Are Coming Uber Welcomes Hackers with Its First-Ever Bug Bounty Program 3 Comments 3 Comments Lindsay August 22, 2015 at 5:05 am “Pax” is Uberese for the passenger. No. It’s an abbreviation for passenger and has been around far longer than Uber. Log in to Reply narcoticano September 3, 2015 at 10:43 am actually its Latin and means peace and by that definition its here for more than 2700 years Log in to Reply michaelsanchez September 11, 2015 at 11:05 pm 5 hour wait times? Yeah, maybe peak weekend in the normal lane. I received this survey and Uber specifically asks if you have a SENTRI card. I highly doubt they would ever consider implementing this for those that can’t use SENTRI or at least ready lanes, so bringing up wait times is kind of irrelevant. The real issue is insurance. Tourist policies are not cheap unless you can actually get a significant number of these rides. The other thing is that Uber drivers do get attacked there by cab drivers. I would definitely not display trade dress. Log in to Reply You must be logged in to post a comment Login Leave a Reply Cancel replyYou must be logged in to post a comment. Business Uber: $120 Billion IPO? Published 2 days ago on October 16, 2018 By Sam Bourgi Uber Technologies Inc., the global ride-hailing giant, is reportedly eyeing an initial public offering (IPO) worth as much as $120 billion. According to The Wall Street Journal, the IPO could take place early next year, giving investors ample time to prepare. More Valuable than the Auto Giants The $120 billion value proposal was delivered to Uber last month by Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS), two of Wall Street’s largest banks. The banks were presumably advising Uber on how to position stock offerings to potential investors before underwriting the IPO. The new valuation far exceeds the one Uber received from Toyota Motors Co (TYO), which priced the ride-sharing service at %72 billion. At $120 billion, Uber would be worth more than the General Motors Co (GM), Ford Motor Co (F) and Fiat Chrysler Automobiles (FCA) combined. The Detroit auto giants have seen their valuations rise in the wake of the financial crisis, buoyed by a prolonged recovery and increased appetite for automobiles. However, their growth has paled in comparison to Uber’s, which was founded in 2009. Uber’s expansion hasn’t been without growing pains. The company has been mired by regulatory bottlenecks, workplace scandals and the alleged theft of trade secrets from Alphabet Inc. (GOOGL), Google’s parent company. It is not entirely clear what metrics the Wall Street banks used to evaluate Uber’s potential value. The company reportedly told Morgan Stanley it won’t be profitable for at least another three years, though annual revenues are expected to reach up to $11 billion this year. That’s a marked rise over the $7.78 billion generated in 2017. While there’s no guarantee that Uber will go public in the proposed timeframe, it must issue a public offering by the end of 2019, according to WSJ sources. That’s the agreement it has in place with investor SoftBank Group Corp. Uber by the Numbers Uber’s startling growth over the past nine years can be represented by a few statistics. As of May 8, 2018, the company had 19,000 employees. This doesn’t include the more than 3 million drivers who are getting paid through the ride-hailing service. Since inception, Uber drivers have completed some 10 billion rides. This averages out to about 15 million rides each day. Gross bookings in 2016 alone amounted to $20 billion. As of June, 75 million riders were using the Uber app. In the U.S. alone, adult users are projected to reach 48 million by the end of 2018. The Uber app is installed on 21% of U.S. adult Android devices. Currently, Uber owns up to 87% of the U.S. ride-hailing market. The growth and widespread adoption of the service has opened the door to other competitors, with Lyft being the biggest. Founded in 2012, Lyft is available in about 220 cities across the U.S. as well as in major cities across Asia. Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (2 votes, average: 5.00 out of 5)You need to be a registered member to rate this. Loading... Sam Bourgi 4.6 stars on average, based on 647 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts. Follow @HackedCom Feedback or Requests? Continue Reading Business Argo Mining as a Means of Diversification Published 4 days ago on October 14, 2018 By William Bartlett Buying Bitcoin (or any cryptocurrency) is something we talk about a lot, but earning crypto is just as interesting. There are many ways to earn crypto that allow for arbitrage-like opportunities, but the focus of this piece is on mining companies. More specifically, Argo Mining, which is the first cryptocurrency mining company to IPO. That might not sound like a big deal, but it gives Argo a critical competitive advantage over other companies. The Mining Industry One thing is clear right now, the mining industry is still very opaque. Users are constantly worried about being scammed, which is very similar to how it was when trading exchanges were popping up left and right. There are numerous options out there for companies that will help you mine cryptocurrency, but it isn’t always clear what the best choice is. You can go one of two routes: have a mining application operate on your computer, or pay for a rented service. Honeyminer is an example of a native application that works well and pays out cryptocurrency, and Argo is an example of a “shared service”. Argo operates much like Amazon Web Services does. You pay to rent computational capabilities, but your goals end up being slightly different. The business models are sound, but very different. Where Argo’s Advantage Comes From Argo is the first mining company to IPO, which adds a level of trust that no other company can currently command. There are so many potential risks for users that they tend to shy away from these companies. They are worried about their payment information being ripped off, withdrawal of the coins, and the costs being greater than the revenues. By raising $32 million in their June 11th IPO, Argo has alleviated many of these worries, and added a degree of trust to their brand. They started off mostly mining altcoins such as Bitcoin Gold, Ethereum, Ethereum Classic, and Zcash, but have recently announced Bitcoin mining packages as well. The overall goal of Argo, as stated by their CEO, Jonathan Bixbay, is to democratize mining so everyone can participate. Right now, most of the mining is done by a select few of the elites, and Argo is enabling the wealth to be spread here. Can Argo Actually Make You Money? The big question to answer about Argo is whether you can actually make money doing this. The costs per month could potentially be higher than the value of the crypto you mine. Sure, you don’t have to pay trading fees on them, but it is important to calculate exactly how much you are coming out ahead. It depends on the package, but you could potentially end up paying more for the fees than you earn. The trick is to remember that the crypto market isn’t like other markets – it isn’t perfectly efficient – and there are always arbitrage opportunities if you look hard enough. An Alternate Route to Being Long Crypto With much of crypto mining currently being done by elites because of the massive investment involved, it is clear that Argo has tapped a massive market. The company had a waitlist of 50,000 in September, and with the funds from the IPO, they can finally finance the expansion of their operations in a way that will speed up the number of people they can bring online. If you believe Bitcoin (or cryptocurrencies in general) is coming out of a rut soon, then this is a good way to diversify into the market. Do your own tests and make sure that you are coming out ahead after the fees, but it should be a simple way to make some extra money in what is currently an inefficient market. Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... William Bartlett 4.1 stars on average, based on 41 rated posts Follow @HackedCom Feedback or Requests? Continue Reading Altcoins Ripple Price Analysis: XRP/USD at Risk of September Bull Run Being Completely Deflated Published 1 week ago on October 9, 2018 By Ken Chigbo Ripple’s native token XRP is at large danger of totally giving back the big September bull run gains. XRP/USD is capped to the upside at $0.6000. Vital near-term support seen tracking from $0.4550-0.4350. Ripple’s native token XRP price has further been sent down to the burning south. This comes after the chunky and excessive bull run observed at the back end of September. XRP/USD had run higher by some 190%, from lows of around $0.27. Bulls managed to see a spike up, just short of $0.8000, within the early $0.7900 territory. Since this initial big trek to the north, up to mentioned highs, the price has dropped around 40%. September Recap There was not one catalyst behind the rocket move of around 195% in September for Ripple’s XRP. A few developments are worth recapping. Fintech heavyweight in Japan, SBI Holdings, announced their plans to launch a Ripple-powered mobile payment application known as MoneyTap. Elsewhere, London-based firm TransferGo announced they are using Ripple’s blockchain. This will be to facilitate digital currency transfer from Europe to India. Furthermore, the litigation between R3 and Ripple Lab announced that they have reached a settlement of all outstanding litigation between the parties. To top all the above, there was huge anticipation ahead of the xRapid product launch. This is now live, available for commercial use, allowing both individuals and businesses to access instant liquidity and low fees, using Ripple’s XRP. This trumps the traditional process of a 2-3 day wait. A sense of buy on the rumor sell on the fact was definitely observed here. Technical Review XRP/USD is on its journey south, looking to completely give back September’s run higher. Starting off with resistance, as can be seen the price upside has been capped at $0.6000. There hasn’t been enough momentum since the exhausted rally, to clear this chunky supply cap. Firm rejections have been observed at the mentioned resistance block since the bull run. If life kicks back into the bulls, they will need to comfortably settle around $0.7500, before then conquering $0.8000. Ripple’ XRP is still a long way away from of reclaiming the big psychological $1.00, with much supply even seen within the early to mid $0.9000 region. XRP/USD 4-hour chart Given current downside momentum, near-term support is now eyed from a range of $0.4550-0.4350. This is a demand zone, having proven to be the case during the fall on 25th September. The price managed to receive a bid within this area, moving back towards the $0.6000 resistance, before again faltering. Should the demand zone fail to hold, there will likely be a very fast move, back down to 0.2700-0.2500 area. XRP/USD had been within consolidation mode, for much of September, it was floating around this territory. Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading. Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (3 votes, average: 2.33 out of 5)You need to be a registered member to rate this. Loading... Ken Chigbo 4.5 stars on average, based on 31 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets. Follow @HackedCom Feedback or Requests? Continue Reading Recent CommentsChris G on Crypto Update: Altcoin Market Cap on the Verge of Trend Reversaldavidstewartkim on “The Core of Any Blockchain Project is Decentralization” – Jack Zhang, Lightning BitcoinDaniel Won on ICO Analysis: Dusk NetworkSholaO on ICO Analysis: Dusk NetworkDaniel Won on ICO Analysis: Dusk Network Crypto Update: Altcoin Market Cap on the Verge of... EOS Price Forecast: EOS/USD Heading for Another 30... Uber: $120 Billion IPO? 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