Uber a Billion dollar fraud… China 1st country to take action on Uber

China is the 1st country which took action on Uber for the exploitation, profiteering and destruction of its taxi industry. Applause!

In China under the new Government regulations, the data collected by Uber would come under the purview of the government. There would be no more subsidies. Market prices would prevail, the regulations state, “except when municipal government officials believe it is necessary to implement government-guided pricing.” According to Xinhua, ride-hailing companies would be urged to merge with taxi companies. Moreover Government would do the background checks of the drivers and provide them licence for being eligible for app-based car service (well done China). On-line and off-line services would be regulated separately.

China was quick to see through… the evil plans of Uber even though there were no particular laws on app-based taxi cabs once proper laws for App-based taxies were drafted Uber had no option but to exit the market. Uber thrives in markets without laws for App-based-Taxies… its the king of lawless markets like in India!!! Where they can ride the surf by coning people.

Drivers have to forgo incentive because as per Uber none of them qualified! Uber is a company that promises many incentive but doesn’t pay much incentives to its drivers. Uber is famous for tricking drivers in India (and world wide) by promising them Rs 120,000 per month and then handing them just Rs 10,000 and then having the guts to tell them they didnt qualify for the next Rs 110,000 in spite of these drivers meeting the required number of drives… all because they didn’t meet the Rally Driver’s Record driving speed!!!

Ok for the sake of records UBER might be paying a few of its drivers some incentive to show that they do this. They also have a few places where Uber Drivers are doing well (because Uber has not dropped prices there)… once such place is San Francisco in US. So anytime there is any discussion Uber talks about their San Francisco drivers.

In Countries like India where the politicians are corrupt can do what they want and people are left to fend for themselves and it would take years for the Government to realize what even happened. Even in Kargil it took months for the govt to wake up…

India is Uber’s 2nd biggest market and the MOST attractive market (in 5 yrs it will be even bigger earner than US+Europe combined). In India today in its starting years itself Uber has 250,000 on its platform but even in India they have reduced the prices to the ground so much that Uber has become UNECONOMICAL for UBER to OWN just 15,000 cars to lease it out to drivers because drivers too have found it uneconomical and has started to return cars. Then how does it expect 250,000 drivers to pay for their rented cars? UBER has made these guys bankrupt.

People who do not even try to understand the crisis being created by Uber because it doesn’t affect them can only be considered not only selfish but also foolish because it is affecting somebody in their country, in their neighborhood and even some of their friends. These people are being exploited & cheated out of their livelihood not by a dacoit or bandit by a company which calls itself as a “Tech” or “technology” company.

Not only that… the country is being defrauded of billions of Rs per day!!! The service is provided by the drivers with the car they bought and Uber refuses to pay them. The theft is unparrelled!!! Uber says it has only 250,000 drivers in India which is a white lie. It has 200,000 drivers in Delhi itself and each day Uber takes as profit a minimum of Rs 500 per driver. The real figure could be close to 25Lakh drivers with it in India. So even if we consider only 250,000 drivers in the country Uber takes away a cool Rs 12,50,00,000 (Rs500 x 250,000 drivers) or 12.5 Crores each day from India. In one year it takes away Rs 4,380 Crores!

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