That $75 million figure made my bullshit detector start to squawk, so I did the math. The web site says it has a capacity of 4,400 visitors per hour, and assuming $3.75 per ride (if nobody gets the daily pass for $5), it only has to operate at maximum capacity all hours of the day and night, 24/7, for 6 months to bring in that amount of revenue.
So if the profit margin is 50%, the Vegas Loop can make $75 million in a year of continuous operation at 100% capacity. Seems legit. /s
I tried to find the source of this and all I can find is “webpronews” which says:
With $75 million in annual revenue, 28,000 daily passengers, and 150 Teslas in operation, this underground transportation network is redefining how cities think about mobility.
So if it’s 28000 x 365, that’s $7.50 per trip. Of 1.7 miles. That’s suspiciously double the $3.75 listed on the Vegas loop site, which also offers a day pass for $5.00.
Still, even $37.5 to $50 million is some pretty significant revenue (not to be confused with profit). Does it carry 28,000 riders per day though? As best as I can tell, this is what a publication from the Board of Directors of the Las Vegas Convention and Visitors Authority claims is the record ridership, set during a Specialty Equipment Manufacturers Association convention. Even ignoring the suspiciously round number, the publication notes that rides were free on that day, and obviously it’s blatantly wrong to apply a record total to a daily average.
So essentially, the tweet is a dishonest interpretation based on another dishonest interpretation of dubious statistics. Lesson is, everything on Twitter is bullshit - emphasis on every. Even subparts of bullshit on Twitter are still bullshit, often layered on other bullshit. Twitter is the last asshole of the human centipede of bullshit.
This quarter also saw the three highest ridership days ever on the Las Vegas Loop during
SEMA, carrying a record 28,000 passengers in one day. “Our goal for the free Loop service
around the LVCC campus is to improve customer service, reduce attendees’ travel times,
and provide a Vegas Only experience,” Reisman says. Our transportation and customer
experience departments are already working directly with the building’s shows to educate
attendees about the unique benefits of zipping from one side of our campus to the other in
a free Loop car—shaving up to 45 minutes from their travel time.
I think I misread your post originally as saying “this report says what the record ridership is” rather than saying the 28k figure was from the report lol. My bad. I was like why not just say the number?
It’s like someone said they’d fix the US healthcare system and then bragged about how much money their health insurance company is making in response to people saying they did dick all to fix the system.
no, what he forgot to count were the state subsidies that pay for all of the expenses including building and operating costs and supplement the profit so that it makes it worth it for the investors to even bother in the first place
![[image] Sometimes it feels like folks in US would build anything but efficient transit 🤦](https://slrpnk.net/pictrs/image/9fee6912-22f8-44a0-b34c-75dd59e25f54.png){kind=link}
That $75 million figure made my bullshit detector start to squawk, so I did the math. The web site says it has a capacity of 4,400 visitors per hour, and assuming $3.75 per ride (if nobody gets the daily pass for $5), it only has to operate at maximum capacity all hours of the day and night, 24/7, for 6 months to bring in that amount of revenue.
So if the profit margin is 50%, the Vegas Loop can make $75 million in a year of continuous operation at 100% capacity. Seems legit. /s
I tried to find the source of this and all I can find is “webpronews” which says:
So if it’s 28000 x 365, that’s $7.50 per trip. Of 1.7 miles. That’s suspiciously double the $3.75 listed on the Vegas loop site, which also offers a day pass for $5.00.
Still, even $37.5 to $50 million is some pretty significant revenue (not to be confused with profit). Does it carry 28,000 riders per day though? As best as I can tell, this is what a publication from the Board of Directors of the Las Vegas Convention and Visitors Authority claims is the record ridership, set during a Specialty Equipment Manufacturers Association convention. Even ignoring the suspiciously round number, the publication notes that rides were free on that day, and obviously it’s blatantly wrong to apply a record total to a daily average.
So essentially, the tweet is a dishonest interpretation based on another dishonest interpretation of dubious statistics. Lesson is, everything on Twitter is bullshit - emphasis on every. Even subparts of bullshit on Twitter are still bullshit, often layered on other bullshit. Twitter is the last asshole of the human centipede of bullshit.
You should include the relevant portion of the linked report in this comment.
From page 22:
I think I misread your post originally as saying “this report says what the record ridership is” rather than saying the 28k figure was from the report lol. My bad. I was like why not just say the number?
Thanks for doing the monster math
I’m sure they meant 75m gross, at best.
Which, even if that’s true, I’m still laughing at him because it hasn’t fixed the traffic.
It’s like someone said they’d fix the US healthcare system and then bragged about how much money their health insurance company is making in response to people saying they did dick all to fix the system.
Until you realize that not fixing the traffic was the point. It’s not funny because he didn’t fix anything on purpose.
no, what he forgot to count were the state subsidies that pay for all of the expenses including building and operating costs and supplement the profit so that it makes it worth it for the investors to even bother in the first place
Even if it were gross revenue, that’s a highly-unrealistic number. Full capacity for 12 hours a day, every day of the year?