I use Uber a lot, particularly when I was living in Houston. I could never figure how the drivers made any money and often discussed this with them.
Twice I had 25 minute rides in late model Mercedes for about $23. (Driver gets 80% of this) To me that just does not work money wise.
When I ask why do you drive Uber? every driver answered, " So I can work the hours I want" I have had drivers claim they make $300 plus on a weekend night. One driver insisted to me he regularly makes $1000 on a weekend. Not sure I believe that but its not my business.
They pay the drivers more than you are paying them. Venture capital is subsidizing every ride. This is why they are losing money.