2min chapter

People I (Mostly) Admire cover image

94. The Price of Doing Business with John List

People I (Mostly) Admire

CHAPTER

Uber

Tipping was rolled out to all drivers in Chicago three or four months ago. When you add more and more drivers, there are so many drivers who increase their labor supply that they undo the entire tip effect. Some of those drivers work more hours because they're making more money. But since Uber only pays you when you have somebody in your backseat, it happens that you're driving around with an empty car more often. In the end, you earn exactly the same amount, whether you had tipping or whether you didn't have tipping.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode