Is the era of cheap rides from Uber and Lyft over?

CHARLOTTE, N.C. — Why do experts say the era of cheap rides from Uber and Lyft is over?

Let's connect the dots.

For most of the last decade, riders have enjoyed relatively cheap trips from ride-sharing companies. Rides were usually so affordable, that some cities saw a drop in the use of public transportation.

You can stream WCNC Charlotte on Roku and Amazon Fire TV, just download the free app.

But now there's a new driving force beyond those factors that could put the brakes on cheap rides profit.

According to Slate.com, since Uber was founded in 2009, the company has lost nearly $30 billion.  It's because start-up companies will ask people for long-term investments to offer the service at below normal cost to create high demand.

Now, interest rates are up, and investors are looking to make money. This means we'll all be paying more for a ride to the airport, or back home after a night out.

MORE ON WCNC 

For the latest breaking news, weather and traffic alerts, download the WCNC Charlotte mobile app.

FREE PODCASTS

Wake Up Charlotte To Go is a daily news and weather podcast you can listen to so you can start your day with the team at Wake Up Charlotte.   
SUBSCRIBE: Apple Podcasts || Spotify || Stitcher || TuneIn || Google Podcasts   

All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere. 

Locked On is the leading podcast network for local sports and is owned by WCNC Charlotte's parent company TEGNA.
Listen to Locked On here. 

All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere. 

Flashpoint is a weekly in-depth look at politics in Charlotte, North Carolina, South Carolina, and beyond with host Ben Thompson. Listen to the podcast weekly.
SUBSCRIBE: Apple Podcasts || Spotify || Stitcher || Google Podcasts 

All of WCNC Charlotte's podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere.