The Uber platform manages the workforce algorithmically, using incentives like surge pricing, ratings, and extensive online training content. After every Uber ride, the rider rates the driver and vice versa.
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Mentioning the # of active drivers/riders, growth rate of drivers/riders, and the retention of drivers/riders could be good supporting metrics on top of your true north.
So what could be a source of the competitive advantage for Uber? The first candidate are network effects, which are often a major source of competitive advantage for platform businesses. The network effects mean that the value of the platform for the user increases with the number of users on the platform.
Uber works as a mediator performing ride-sharing business through a digital platform between riders and drivers. It has determined apps for both riders and drivers following an 'X' algorithm to connect both of them. Uber doesn't own any vehicles; instead, it charges a 25% commission from each booking.
Safety concerns: Safety is a major concern for Uber, both in terms of rider safety and driver safety. The company has faced criticism for not doing enough to protect riders and drivers, and has made a number of changes to its policies and procedures in response to these concerns.
With the foundation to build the most intelligent company on the planet by completely solving problems for riders –Big Data and Data Science are at the heart of everything Uber does - surge pricing, better cars, detecting fake rides, fake cards, fake ratings, estimating fares and driver ratings.
Uber's business model relies on technology to match riders with drivers and provide low-cost rides. This has allowed Uber to undercut traditional taxi fares. This has resulted in traditional taxi drivers facing competition from Uber drivers, as well as reduced income.