The rideshare industry has come under increasing scrutiny for how little drivers earn despite the high costs that passengers pay.

Drivers can feel shortchanged by platforms like Uber and Lyft, leading to growing frustration within the community. Prices are also continuing to rise as both ridesharing giants focus on growing revenue. According to a recent Senate Banking Committee letter sent to both companies, "Between 2018 and 2022, Uber’s prices increased by 83 percent."

Unfortunately, there aren't a lot of options outside the duopoly. But one newer entrant, REVO, is looking to leverage blockchain tech to potentially lean into network efficiencies.

During a recent discussion, Roundtable anchor Rob Nelson spoke with influencer Paul Cuffaro and REVO Rideshare CEO Paul Michael about these concerns and how some are seeking to address them.

Paul Cuffaro shared his personal experiences that exposed him to the financial struggles faced by rideshare drivers. “When I got in [the Uber], I go to the guy, I'm like, 'Hey man, this is an expensive ride.' The ride was $176, and he got, I think it was like 40 bucks,” Paul Cuffaro explained. The driver’s frustration was evident, prompting Paul Cuffaro to consider alternative solutions. “He looked at me and said, ‘Do you mind canceling the ride and just paying me directly?’” Paul Cuffaro added, noting that this was the second time such an interaction had occurred within a week.

This led Paul Cuffaro to reach out to Paul Michael, curious if there was a better way to address these issues. “I called Paul Michael, and I said, ‘If anyone knows how to create an app like this, it’s you,’” Paul Cuffaro recalled. To his surprise, Paul Michael was already working on a solution. “What’s crazy is, would you believe I told you I already started one?” Paul Michael responded, leading to their collaboration on REVO Rideshare.

Michael explained how the startup aims to differ from traditional platforms by focusing on drivers’ needs.

“We're able to compete because, from the beginning, we started it out to give our drivers the ability to not only drive, but also bring in other customers,” Paul Michael said. He pointed out that this approach could potentially allow drivers to earn more, even when they’re not directly driving. “They could have customers doing rides all over the country. They may not even be doing the ride, but they can still earn from it,” Paul Michael elaborated.

The discussion highlighted the dissatisfaction many drivers feel with the current rideshare model and how some, like REVO, are exploring new ways to address the issues.