An Uber Convo About Opportunity Zones sure to leave a tip after you get this free game.

[PaperTrail] Can't Yelp But Wait

Wednesday, October 30th | Issue No. 126

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Catch a ride to it instead of walking or running.

A couple of days ago, I shared how Uber (NYSE: UBER) was jockin' Airbnb's style with Moments which offers experiences like food tastings and cooking classes. Now, Uber is focusing on the C.R.E.A.M.

Method Man of Wu-Tang Clan rapping to C.R.E.A.M.


Uber just can't help itself from getting all in the Kool-Aid without knowing the flavor. The ridesharing company created a new division called Uber Money which is a digital wallet that will also include upgraded debit and credit cards (whatever that means) for those who like nostalgia. But you may need to pump your brakes because it's only going to be for drivers and couriers... at least for now. The goal is to give them access to a mobile bank so that their direct deposits can hit different faster. This is a dope idea considering that 1 out of every 4 people is either unbanked or underbanked, many of which may be Uber drivers and couriers. Since there's hella competition like Lyft (NASDAQ: LYFT), Grubhub (NYSE: GRUB), DoorDash, Postmates, and Amazon (NASDAQ: AMZN) currently in the ridesharing, food delivery, and freight industries, investors are iffy on whether Uber will actually become profitable or not under the current business models.

The long-term plan is to spread the love to customers too, which in turn should encourage drivers, couriers, and riders to stay loyal to the brand. With 100 million monthly active users, owning the banking side of the business could potentially eliminate costs and create new revenue streams, both of which are things any investor would like to see. Uber first spilled the tea that it would be getting into the finance industry back in June just a month after its IPO.

This new service has already gone down in the DMs to some degree since 70% of drivers are paid using "instant pay" which is achieved through a debit card issued by Uber to drivers that allows them to access their coins in real time at no extra cost. Uber even gives its drivers an overdraft allowance of $100 so that they can put snaps on the petro before they start their shifts.

We may be moving towards a cashless society but other places outside of the U.S. aren't. In fact, 40% of Uber trips outside of America are paid with cash and the company hopes to bring those regions into a more cashless economy.

All of this may sound familiar as Robinhood is doing something similar with its new cash management accounts to help offset all the other online brokers going to $0 commissions. Other companies like Apple (NASDAQ: AAPL), Amazon, and Facebook (NASDAQ: FB) have also been moving into finance via credit cards, small business lending, and cryptocurrency so this trend of companies getting into financial services is just the beginning.


Uber stock is down 28% this year since its IPO.


Unbanked and underbanked refers to people who do not use or are not able to use banks and traditional financial institutions that offer services like savings and checking accounts, loans, and credit cards.


Looking for opportunities.

Just like the cannabis industry is trying to incorporate social equity to help more black and brown people get in the game, opportunity zones could help more people of color get into real estate and build a legacy but instead, we're stuck waiting on the outside looking in.

Black man in jail talking to a younger black man