How Uber Ruined This Company...

Рет қаралды 1,806

Жыл бұрын

These entrepreneurs went from Shark Tank to selling their business to Uber, a decision that would unfortunately change the company forever.
In January 2022, Uber announced that it acquired Car Next Door, a leader in peer to peer car sharing. But less than two months before the announcement, Car Next Door's business model changed completely.
The company went from offering comprehensive insurance to 'damage and loss cover.' But what is damage and loss cover, and is it better for consumers?
This is the story of how a simple change to one word on a website, represented a complete change in the company's business model.
Car Next Door's Shark Tank Australia Pitch: • Entrepreneur Wants $30...
Disclaimer: This video does not contain legal, financial or any other kind of advice. All comments are made for entertainment purposes only.

Пікірлер: 14

@minntzu Жыл бұрын

Great analysis. This is very misleading and dishonest policy. My impression was that Mobility Mutual was an insurance. Wouldn’t CTP 3g cover for injuries in the case of an accident?

@npeter5246 11 ай бұрын

Excellent video James. Unfortunately the Mobility Mutual cover is NOT the only thing Uber is getting away with. Uber continues to charge owners whose cars are stolen or off the road due to damage the monthly fees. Even though the car is off the road Uber argues that the owner is still getting a benefit from being with Uber!

@abhigoswami9536 Жыл бұрын

You deserve more view my friend. Cheers!

@9hundred67 4 ай бұрын

wow, thanks for the fine print warning

@hongkongfueynz3071 Жыл бұрын

They are a total rip off. I hired a car from UberCarShare for a month, and the owner of the car increased their per/km fee during the trip without informing me, and ended up with a much larger bill than expected. Customer service was disgusting, overseas call centres which were next to useless.

@stevensomers5668 Жыл бұрын

The owners of Mobility Mutual are Will Davies and Dave Trumbull btw...

@9hundred67 4 ай бұрын

bull

@TheOGAliG Жыл бұрын

Sad to see such a great concept and company go downhill!

@slingyz84 26 күн бұрын

Is this still relevant for the current situation?

@iPwnPwnerers Жыл бұрын

Hey James thanks for a great video. If seperate adequate insurance is taken out on the vehicle by the owner and it covers car sharing incidents, would this safeguard against Uber's lack on included insurance?

@JamesAlexanderYT Жыл бұрын

Hey! Thanks for the comment. According to Uber Carshare's website they have an owner guarantee that protects the car owner even if Mobility Mutual chooses not to cover the borrower (T&Cs and exclusions apply). I assume any separate insurance taken out by the owner would only further cover the owner. The risk here seems to be on the side of the borrower, as the 'cover' Uber Carshare offers is at the discretion of the board of Mobility Mutual. Obviously if you're planning on using the service as a borrower or owner make sure to do your own research and read the relevant documents. It's always worth checking what is/isn't covered and whether extra insurance is needed. Just my opinion and not professional advice. Hope that helps :)

@iPwnPwnerers Жыл бұрын

@@JamesAlexanderYT Thanks for that! 🙂

@seamusobrien2675 Жыл бұрын

Yep, I was with Car Next Door as a car supplier, it was FAB, then Uber took over and all turned to sXXt. Six months later Uber has got it operationally together (a bit) and Carshare has started to work again with the exception of insurance. You are right, it remains a mess. I have had four cars on the Uber platform, one of which was written off last month. Enter Mobility Mutual. The process of pay out for me and coverage for the driver (borrower) and the other car involved was smooth and well handled. None of us have any complaints about M Mutual. This was an unexpected surprise as I have had complaints about nearly everything and all the time with Uber Carshare since the takeover. Friendly, apologetic and useless would be the best way to describe their service, but it has improved vastly over the last 6 months. I think they might get there yet. Maybe your MM worries might not turn out to be well founded?

@JamesAlexanderYT Жыл бұрын

Thanks for the comment and for sharing your experience! Sorry to hear that your car was written off, but glad that the payout went smoothly with MM. The concern isn't that customers and lenders won't be covered (as that would likely result in a PR nightmare), but that coverage is at the discretion of the board (not guaranteed). Thanks for watching! :)