I drive for Uber and Lyft after retiring from Wall Street. The principles I learned as a trader help me make more money.

• Sergio Avedian was a Wall Street trader before taking early retirement.

• He has spent the last decade as a rideshare driver and creates videos about Uber and Lyft.

• Now he wants drivers to think about how they can invest given the proliferation of autonomous vehicles.

This essay as told is based on a conversation with Sergio Avedian, a 58-year-old man. rideshare driver Uber and Lyft in southern California. The interview has been edited for length and clarity.

I was born in Istanbul, Türkiye, to Armenian parents. I went to high school in Germany and then came to the United States to attend college.

I was always interested in finance, so I ended up becoming a trader at a boutique Wall Street firm. I saw the dotcom bubble in the early 2000s. After retiring from my day job in 2005, I was looking for things to keep me busy. Algorithms fascinated me because I had seen widespread automation in the world of finance.

In 2016, I was having lunch with a friend who told me about this app called Uber. My friend said, “I think they use algorithms.” Curiosity got the better of me and I started reading about it and meeting drivers to learn more. Finally, I signed up as a driver in the Los Angeles area.

At that time, Uber offered bonuses of $1,000 for signing up as a driver. He also earned up to $80 an hour.

But what really intrigued me were the parallels with commerce. On Wall Street we used to say that “a trend is your friend” because you can make money if you spot one early.

Choosing rideshares was like that. You had to know when and where travel prices would increase. This meant that, for example, I had to be in Santa Monica between 8 and 9 in the morning, because prices there were usually higher at that time.

I’ve also spent the last few years writing articles and making videos with Harry Campbell, who has a YouTube channel called The Rideshare Guy. I’ve been working with Harry since about 2018, with a break during COVID when travel demand slowed.

I think Uber, Lyft, and other work apps are wonderful. They have created enormous opportunities for people. But I also don’t want the people who make these services work every day to be left behind. People who do this work must start saving for their future.

That’s why my latest project is a personal finance website and YouTube channel. It’s not just for the workers, but they are a large part of the audience. They do not have access to the same benefits as employees, such as retirement benefits.

One tip I’ve been giving drivers: At the end of your shift, make an extra trip, then put the money from that trip in an account and don’t touch it. You can even put it in an index fund or other investment that will appreciate over time.

Drivers should think about investing more than ever, given the expansion of autonomous vehicles.

I’m exploring creating an investment trust to own some of these cars, similar to a REIT that owns shopping centers, that drivers can also invest in. I want them to get into the game and earn some passive income.

I also put together a petition asking Uber and Lyft to pay their drivers a one-time thank you bonus.

Both companies have made a lot of money, especially in recent years. Uber became profitable through efforts like upfront pricing, and Lyft has turned a corner. Uber announced a $20 billion share buyback program this year. Why can’t we improve the lives of drivers and create a sense of loyalty with a one-time payment like this?

I’ve spoken to the CEOs of these companies because of my work for The Rideshare Guy, so I know they’ll listen. Will they really do it?

One thing I’ve learned during my time in the rideshare community is that companies can do the right thing. In 2023, I worked with Pablo Gómez, another Los Angeles driver, to get the California treasurer to update some of the reimbursement rates under Proposition 22 (the state wage law for self-employed workers), which led to Uber paying millions of dollars to drivers.

If Pablo hadn’t mentioned that problem to me, I wouldn’t have had a clue and we might never have solved it.

I want to open the door to some different ideas on how we can benefit drivers.

Do you have any advice? Contact this journalist at abitter@businessinsider.com or via the encrypted messaging app Signal at 808-854-4501. Using a personal email address, non-work WiFi network, and non-work device; here is our guide to sharing information securely.

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