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The Rideshare Company Ready to Take On the Giants

How Tribal Rides is Empowering Drivers and Paving the Way for Self-Driving Transportation

July 27, 2021

Tribal Rides Inc., formerly Xinda International (OTC:XNDA), is a transportation technology company developing disruptive software solutions for the digital transformation of transportation. Their patented transportation ecosystem and marketplace is under development, and will feature end-to-end tracking, management of trips, seamless and connected multi-modal journeys, visualization and complex mapping, and leading transaction and scheduling technology. Tribal Rides is on a mission to empower drivers, giving them control over when they work, who they work with, and how they network with other drivers. This technology will ultimately lead to Self-Driving Transportation, powered by the Tribal Rides proprietary software. 

 

Tribal Rides Interview on MoneyTV

 

Catch a Ride

Market Trends

Self-Driving Cars are on the way, with companies like Mobileye aiming to have a fully autonomous, level 5 consumer automobile on the market. Meanwhile, the big ride-share players are having difficulties in regards to their workforce and the regulations surrounding contractor v. employee status. The convergence of these two factors leaves an opportunity for Tribal Rides to provide an alternative for ride-share drivers, while pursuing self-driving transportation technologies. 

Consistency

As the CEO outlines in a MoneytV interview, Tribal Rides is consistently hitting the milestones set forth in their corporate plan. Currently they are in phase 4, where they are focused on releasing a minimum viable product and planning on revenue generation by the end of 2021. 

Technology

Ultimately, what will separate Tribal Rides from competitors is their cutting edge technology. They have filed 3 patents concerning self-driving cars, that will enable superior deployment and logistics for ride-sharing. 

 

A Bumpy Ride

Tribal Rides Inc. is trying to change the ride-share game. Currently the landscape is dominated by Lyft and UBER, but if driver attitudes are anything to go by, it’s time for a shakeup. 

A recent Quartz article outlines the difficulties UBER and Lyft face as they try to attract drivers to their businesses. During the pandemic, driver hours were significantly reduced, causing many to abandon the platform. The lack of available drivers also increased the amount of declined rides, which made the platforms unreliable.  None of this is good for the ride-share giants. 

The pandemic is not when these problems started though; it only exacerbated existing issues. The employment structure for drivers has always been a source of contention. Although every driver is an independent contractor, the rules surrounding their employment don’t make them feel empowered. It’s a gray enough area that legislation was voted on in California to try to make it harder for employers to classify workers as independent contractors. Ultimately, UBER and Lyft were able to get exemptions, wherein their drivers are still considered independent, but they now receive a small benefits package. 

Finding a way to balance a payment structure that is enticing enough to keep good drivers happy, while also cutting enough costs that the company can become profitable, has proven next to impossible. So it’s not a stretch to think that as soon as autonomous vehicles reach a level of adoption, UBER and Lyft might shift away from human drivers completely. 

 

Empowering Drivers

Where Tribal Rides will excel, is their approach to empowering ride-share drivers. Instead of requiring quotas or minimum availability, Tribal Rides is giving the driver true independence. During their research, they found that drivers lacked  freedom in how they ran their business, and Tribal Rides wants to change that. They are going to give drivers the ability to network with other drivers, create a list of clients that they serve on a consistent basis, and to make their availability viewable so that customers can book rides ahead of time. 

The Tribal Rides model is truly disruptive, as they are shifting the perception of ride-sharing. Instead of a random person picking you up, you will be able to develop a relationship with one or a few drivers that serve a smaller community. In the case that your normal driver is unavailable, they will be able to refer you to someone they know through the network. This enhances trust, while radically improving the user experience. 

There is already a whole class of drivers that work this way, they just lack the technological infrastructure to take their business further. Tribal Rides is targeting these drivers, who are likely to jump at the chance to operate more efficiently. 

What about the Self-Driving Cars? Won’t that eliminate the need for independent drivers? Tribal Rides doesn’t think so. They envision a near future where their technology is used to monetize SDCs when the owners aren’t using them. 

From the website;

“The Social Internet of Vehicles is a powerful tool that consumers can use to manage self-driving cars. Our premise is that car-sharing networks that people use on the cloud will be as diverse in design as the consumers that use them. We are building a suite of networking software solutions designed to meet the needs of more natural human groupings rather than the mass transit approach of Uber and the others. Our approach is to provide smaller customized transportation networking solutions that are more efficient at promoting ride sharing and other beneficial human behaviors. Our system is designed to address the scientific theories of small group behavior and collaborative consumption.”

Using Tribal Rides patented software technology, an independent driver can maximize their freedom, while simultaneously building a reliable network of clients. The advent of autonomous vehicles will only increase a driver’s ability to control their schedule. 

 

Recent Press Releases

 

Self Driving Car Update

Via Tribal Rides website

It looks like the Self-Driving Car industry is finally catching up to Tribal Rides.

Since 2014, Tribal Rides has been focused on developing software technology (patents and patents pending) to address the emergence of Self-Driving Cars (SDC).

“During 2019 and 2020, we have seen a world-wide explosion in activities in our industry,” stated Tribal Rides CEO Joseph Grimes.“There have been massive investments by traditional car companies to launch their own versions of SDCs. But that’s not all. There was a huge influx of start-up companies, significant improvement in SDC technologies, several large acquisitions and newly formed strategic partnerships in the USA, Europe, China, and Japan. And with the emergence of 5G, the infrastructure has expanded to better support their data requirements. We believe that we are seeing the first real wave of this revolution going mainstream,” continued Mr. Grimes.

We believe Tribal Rides is uniquely positioned to take advantage of this emergence.

 

David and Goliath

There is no arguing that UBER and Lyft are the dominant forces in the rideshare marketplace. Entering into a market with such giants can even seem impossible at times. When looking at situations like this, it’s easy to make comparisons to David and Goliath. Even though Goliath was bigger and more experienced, all David needed was one well placed stone to win his fight. 

If nothing else, we know that these companies aren’t invincible. During the #deleteuber campaign, Uber market share fell sharply. Public opinion is a critical part of the sustained success of a ride-share company. So which company do you think would have a better public opinion; company a) who’s entire mission is to empower drivers, or company b) who has an employee satisfaction rate of only 45%? 

Tribal Rides is the scrappy up-and-comer in the ride-share space, and they have massive growth potential. There are 17 million people who drive for various apps, and roughly 50% of them are dissatisfied with their employer. That’s a potential driver base of roughly 8.5 million people. Additionally, the ride-share market is expected to grow at a CAGR of 6.5% to reach more than $50 billion by 2026. Tribal Rides is projecting a minimum viable product by Q4 2021, so it won’t be long before we see if this David can topple the ride-share Goliaths.

 

Driving It Home

Tribal Rides is making excellent progress, and has a well thought out plan of attack for the coming phases of operation. The patented technologies concerning Self-Driving Cars will radically change the ride-sharing experience, disrupting the status quo in a big way. More than anything, the dedication to creating a product that improves the lives of the people who use it AND the lives of everyone else is inspiring. 

  • Patented technology will pave the way for fully autonomous ride-sharing, which will enable people to make money with their vehicle anytime they aren’t using it, will reduce traffic and emissions, and will help connect people to a trusted network of drivers. 
  • A minimum viable product is imminent. By Q4, Tribal Rides expects to be on the market, generating revenue. 
  • Uber and Lyft may be the industry giants, but Tribal Rides is positioned to excel by offering drivers and riders a better alternative. 
  • The overall market size is huge, and still growing. With billions of dollars being spent, there is more than enough room for a great product to grow along with demand. 
  • Self-Driving Cars are expected to result in $7 trillion of value added to the economy. While other companies are pursuing various SDC plays, Tribal Rides already has the patents in place to take full advantage of the eventual shift to autonomous tech. 

Big things are happening for Tribal Rides, and their timing couldn’t be better. Just as we’re rebounding from the pandemic Tribal Rides is going to be rolling out their offering. We think if you’re looking for a ride-share play or a SDC play, Tribal Rides is a great choice. 

 

Management

Joseph Grimes

CEO and Director

Joseph Grimes has served as the CEO and Director of Tribal Rides since 2016. He is  an accomplished executive and serial entrepreneur with a 25 year track record of success who drives technology based business opportunities from conception through implementation. Experienced in developing high level go- to-market strategies, securing financing, building and executing multi-dimensional operation plans, and, directing and motivating dedicated, goal-oriented teams to function in a coordinated and systematic fashion and accomplish stated business objectives.

He graduated from University of California, Santa Barbara with an advanced degree focusing on Operations Research and Logistics.

Dr. Paul Sorensen

Sr. System Architect

Dr. Sorensen is a Senior Software Manager with more than 20 years of experience in software development, GIS, transportation planning and policy, and operations research. He has performed numerous projects for Federal, state, regional, and local agencies that address transportation funding, urban mobility, alternative fuels, climate change adaptation, performance measures, and emergency response logistics. Dr. Sorensen’s current work focuses on developing software solutions to support improved transportation planning and operations. Prior to joining Cambridge Systematics, he served as Associate Director for RAND Corporation’s Transportation, Space, and Technology Program. Dr. Sorensen holds a BA in computer science from Dartmouth College, an MA in urban planning from University of California, Los Angeles, and a PhD in geography from University of California, Santa Barbara.

Sanjay Prasad, Esq

Patent Attorney

Sanjay Prasad has extensive experience in all phases of intellectual property law, licensing and related business transactions. Sanjay works across the spectrum of IP, including advising senior management and boards on intellectual property strategy and risk mitigation, developing effective corporate IP programs, advising on IP rights in corporate transactions, filing for patent and trademark protection, advising on competitive threats and disputes, and IP licensing and monetization.  Sanjay draws from his experience as chief patent counsel at Oracle Corporation where he led growth and transformation of its patent program, as a licensing executive for numerous large patent portfolio holders around the world and as outside counsel advising some of the world’s best-known (established and high-growth) companies in IP matters.   Sanjay holds a JD from Syracuse University College of Law where he was an editor of the law review.  He also holds an MS in Computer Engineering and a BS in Electrical Engineering from Boston University.

Timothy Paige

Sr. Software Developer

Tim Page is an accomplished mobile application developer with multiple commercial releases under his belt for leading names in mobile gaming and enterprise applications. His team designed and released the first Star Wars mobile game, as just one noteworthy example. Experienced in leading teams of designers and programmers in commercial product launches, Page brings extensive knowledge of enterprise software system requirements and solutions, and is well versed in the attributes that contribute to a successful “consumer interface-centric” mobile application product. He is Owner Yam Yam Mobile (yamyammobile.com), Virgin Interactive – Senior Executive, Led the start-to-finish production of Sports and Action games, Managed team responsible for dozens of well- known games, Highly skilled DirectX, Python, Django, PostgreSQL, Amazon EC2 (cloud-based), and REST/JSON.

Steve Ritacco

Head of Development

Steve has over 25 years of experience in software development and operations, ranging from embedded control to complex end-user applications and consumer portals. He has worked at industry leaders including HP, Motorola and Adobe Systems, as well as start-ups such as GO Corp. and Excite.com. As CTO of the Sperry & Hutchinson Company, he worked on an innovative SAS, big data, retail application. Most recently as CTO of BlueNRGY/Draker his team revitalized another SAS application in the big data, Solar/IOT space and revamped the company’s hardware offering. Steve earned a BS in Computer Science at the University of Rhode Island.

Dr. George Konstantinow

Sr. System Engineer

Dr. Konstantinow is a Systems Engineer and Operations Research Analyst from Santa Barbara, California, with over 30 years’ experience in software and database engineering, systems design, and data analytics. Dr. Konstantinow currently serves as Chair of the IEEE Central Coast Section and is on the Board of the Science and Engineering Council of Santa Barbara. He is an active member of the IEEE, INFORMS, AMIA, and AAAS; and holds a BA in Mathematics from New College of the University of South Florida and a PhD in Biomedical Engineering and Computer Science from the University of North Carolina, Chapel Hill.

Peter Grimes

Sr. Marketing Consultant

Peter Grimes, CEO, Grimes and Associates, Inc., providing marketing and consultant services to small businesses in B-to-B environments, including print, digital and on-line business and consumer facing campaigns for market entry, consumer focus and research, and Corporate and product Branding. With offices in Colorado and California, Grimes and Associates, Inc., has specialized in the personal care, apparel, and consumer product industries.

James Carter

Visionary Consultant

Principal Consultant: Vision Mobility, 20+ years Automotive Veteran, 19 Years at Toyota, Wealth of Automotive Sales, Marketing, Operations and Planning Experience, BEcon – Finders University.

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  • Name of Issuer & Ticker Symbol - Tribal Rides (RYDE)
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  • Period of Campaign - 4/1/2021 - 4/1/2022
What securities of the Profiled Issuers do we hold? The positions we hold of the Profiled Issuer are set forth below. We plan to sell these securities during the Campaign.
  • Name of Issuer & Ticker Symbol - Tribal Rides (RYDE)
  • Number of Shares We or our Affiliates Hold - 125,000
  • Price We Paid Per Share - $0
  • Date Issued - 3/21/2021

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