Wired’s editor at large, Steven Levy, took a 2.95-mile Uber ride from downtown New York City to the West Side to meet Uber’s CEO,
Dara Khosrowshahi. When asked to estimate the cost of the ride, Khosrowshahi put it at “twenty bucks,” Levy wrote. His estimate, as it turned out, was less than half the actual price of $51.69, including a tip for the driver.
Many people have experienced sticker shock at an Uber’s price, and the company’s own chief executive is no exception.
Data from Rakuten Intelligence indicated the cost of rides from ride-hailing apps like Uber and Lyft increased by 92% from 2018 to 2021, CNBC reported. Rakuten’s data suggested Uber fares in April 2021 were up 40% year over year.
Some of the price increases are also attributable to the fact that Uber is no longer subsidizing rides on a quest for growth and is instead focusing on profit.
“Oh my God. Wow,” the CEO said upon learning the cost.