Drivers and their supporters protest Wednesday against Uber and other app-based ride-hailing companies near the Wall Street Charging Bull in lower Manhattan. Photo: Drew Angerer/Getty Images By Kristin Broughton Updated May 8, 2019 5:44 p.m. ET Drivers for ride-sharing companies protested Wednesday, saying companies such as Uber Technologies Inc. and Lyft Inc. have failed to pay drivers a living wage.
To investors, the protests were an embodiment of risk factors described in Uber’s initial public offering filing. Chief among them: its reputation, particularly as it relates to drivers. The company risks losing drivers or customers if its image takes additional hits, it said in its filing. “Drivers are at the heart of our service—we can’t succeed without them—and thousands of people come into work at Uber every day focused on how to make their experience better, on and off the road,” an Uber spokesman said in a statement. He added that driver benefits include insurance protections and educational benefits.
Newsletter Sign-up Uber’s main U.S. competitor, Lyft, which began trading on the Nasdaq Stock Market last month, told investors in its prospectus that perception surrounding its treatment of employees is a risk to the company. And so are negative perceptions related to the ride-sharing industry as a whole, the company said in the filing.
The protests across New York, organized by groups such as the New York Taxi Workers Alliance and the Independent Drivers Guild—which scheduled a procession of Uber and Lyft vehicles over the Brooklyn Bridge—were promoted on social media with hashtags such as #StrikeUberLyft, #LyftStrike and #UberShutDown.
People in the gig Economy are shortening their life span.
GOD BLESSING WILLIAM DMING EDWARDS, QUALITY'S TOTAL FATHER, HE CAME IN VENEZUELA IN MAY 1989, HE WAS A GREAT CONSULTANT STATAL OIL PDVSA ,HE MAD THE CONSTITUTION AND LAW YEAR 1999.HUGO CHAVEZ FORMER PRESIDENT STUDIED HIM IN MASTERDEGREE POLITOLOGY IN UNV
That’s odd. I have to think about this.
Cry me a river..... I like driving for Uber. These striking drivers are GREEDY
What will happen when driverless cars hit the road? We need a solution for this:
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Warren Buffett: I'm not buying the Uber IPO, but I've never bought any IPO“In 54 years, I don’t think Berkshire has ever bought a new issue,” Warren Buffett said. Uber drivers planning to boycott all day of IPO and not drive. Make your plans accordingly. Yes - $BRK bought an IPO in 2018 ... StoneCo $STNE in the fall of 2018 ... guess Todd didn’t talk much about it or discuss!
Source: CNBC - 🏆 12. / 72 Read more »
Warren Buffett: I'm not buying the Uber IPO, but I've never bought any IPO everBerkshire Hathaway Chairman and CEO Warren Buffett explains why he passed on Uber's initial public offering. Nothing like watching 3 white Banksters on 'cnbc' while futures are down sharply. Buffet is a criminal. 😎😍 Pretty sure people should educate themselves on investments and not just count on what Warren is doing...justathought
Source: CNBC - 🏆 12. / 72 Read more »
Uber drivers to strike over pay and benefits ahead of the company’s $90 billion IPODrivers argue the road to both companies’ IPOs has been paved by workers who Uber and Lyft have insisted for years are merely contractors. MUNICIPALWASTE Stop driving for Uber, Just another corperation getting rich off poorer desperate working class. Hell they didn't even have to buy equipment to run the company, Your car, your phone... OK....strike away and have a good day...oops, an enjoy your cut in pay!!!
Source: NBCNews - 🏆 10. / 86 Read more »
Uber, Lyft drivers plan to strike ahead of Uber’s IPODrivers are calling for better job security, a livable income and a cap on the ride-hailing companies’ commission. Unfortunately it doesn't matter, they will lose their jobs to automation eventually anyways. This is why we need UBI.
Source: washingtonpost - 🏆 95. / 72 Read more »
Uber drivers eye IPO riches, call for strike in U.S. and UKUber drivers eye IPO riches, call for strike in U.S. and UK by leejane71 alexandriasage ReutersJF leejane71 alexandriasage JF
Source: Reuters - 🏆 2. / 97 Read more »
As Uber gears up for IPO, many Indian drivers talk of shattered dreamsIn 2016, Rajesh Raut started driving an Uber taxi in Mumbai, hoping he could ear... sachinr27 aditishahsays adityakalra 股の下から sachinr27 aditishahsays adityakalra Adapt or die sachinr27 aditishahsays adityakalra No one cares as You are all tiny cogs in the Mega money making machine.
Source: Reuters - 🏆 2. / 97 Read more »
Uber drivers set to protest around the world ahead of the company's $90 billion IPODrivers are also expected to stage protests against Uber and Lyft in at least eight cities around the U.S., including New York, Chicago and San Francisco. Never go back to work! Fucking end Uber and lyft Uber SaudiArabia MBS BAD IPO Uber everything goes to hell when it goes to scale. Welcome to the bell curve.
Source: CNBC - 🏆 12. / 72 Read more »
Uber drivers strike ahead of impending IPORide-hailing drivers across the world went on strike on Wednesday, ahead of Uber Technologies Inc.’s initial public offering, which is expected to price on... Huber & Lyft disrupted taxicab industry with automation & logistics. Time for insiders to go public monetize & loot while exploiting drivers! How long the low wage model going to succeed & enrich insiders? Time should tell!
Source: MarketWatch - 🏆 3. / 97 Read more »
Uber, Lyft drivers on global strike just before Uber's IPOUber and Lyft drivers on global strike to improve wages and working conditions just two days ahead of Uber's monster IPO. Love a good protest. Now they learn the company software they installed on their phones encrypts all their data until they go back to work Don't they use there own cars so if they want better working conditions. They need to buy a newer car.
Source: ABC - 🏆 471. / 51 Read more »
Uber drivers plan strike ahead of much-anticipated IPOUber drivers are hoping to engineer another DeleteUber — but sparking that kind of consumer outrage won't be easy. The drivers are banding together and protesting both Uber and Lyft by refusing to drive for the company for 24 hours, a signal to legislators that it’s time to make some changes.
Source: latimes - 🏆 11. / 82 Read more »
Uber, Lyft drivers on global strike just before Uber's IPOUber and Lyft drivers around the world are striking on Wednesday to improve wages and working conditions just two days ahead of Uber's monster IPO that could generate $80 million to $90 million. The hours drivers plan to strike vary by location but will span from New York to Atlanta to Tokyo. In
Source: YahooNews - 🏆 380. / 59 Read more »