In 1979, the sketch What if? aired on Saturday Night Live, pondering the notion that what if the comic book hero Superman had landed in Nazi Germany when he first came from Krypton. Rather than being called Superman, he took the name of Überman. Uber has become a term we have all come to know as something truly unbelievable or almost larger than life. Well, what could be better than being able to avoid the late night scary thought of having to hail down a taxi when you might just have Uber right around the block?
With the power of the smarthpone, a new phenomenon is likely coming to a city near you, if it hasn’t hit already, called Uber. Essentially, Uber is your on demand private driver. You can use an android or iPhone app on your smartphone and see what drivers are in your area. In the US and Canada you can simply text an address and your city to 827-222 or enter it into the smartphone app.
Once you shoot your information in, the nearest driver Uber has will be dispatched to your location. You’ll get a text with the estimated arrival time which gives you plenty of time to finish last call. When the car arrives, you’ll get another text. No more going into the grimy back seat of a cab, you’ll hop your way into a sleek black car and tell your driver the destination. (source: uber.com)
The best part is that you can leave your cash at home. For Amazon shoppers, you’ll love this feature because it makes the experience more convenient. After the ride, Uber will automatically charge the credit card you have on file. Unless you feel like dishing out a tip for a job well done, there is no required payment to give the driver. Prices start with a base fare and after that, Uber charges depending on speed. A distance fee over 11 mph and a time fee for under 11 mph. Hmmm.. wonder why 11 mph? Nonetheless, you’ll travel in style and generally, it will be cheaper than the cost of a taxicab. (source: Uber.com)
Uber is now in 35 cities and I’m sure we will see more of these as similar business models continue to progress using the internet and handheld smartphones. You might not need to take your car out the next time you are out on the town and you can have a good time becoming “Uberman” since you know a ride is right around the corner at the end of the night.
Written by:
Ted Jenkin
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Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS® Co-CEO and Founder oXYGen Financial, Inc. Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS.
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