When Lyft Inc. LYFT, -1.29% reports results Wednesday afternoon, it will detail a business that’s been virtually ground to a halt since the pandemic forced global lockdowns. There are big questions about how Lyft and rival Uber Technologies Inc. UBER, +2.37% will move forward from here.
For more: It’s time for Uber and Lyft to trade differently, because the coronavirus outbreak is affecting them differently “As economies re-open, interest should tilt toward private over public transit — but is rideshare the answer or are we looking at a wave of car ownership?” Shmulik asked in a research note that opined ride-hailing might be viewed as a financial luxury amid economic uncertainty, and people might be serious about using the outbreak as an excuse to flee major U.S. cities.
Source: News Formal (newsformal.com)
Government mandates them to lose money by capping fees? At least they are making something. Compare that to gyms, retailers and services.
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Uber, Lyft to Require Masks on Drivers, PassengersUber has announced it will begin requiring drivers and passengers to wear face masks or coverings, and is developing tech to detect if a driver is wearing a mask before they pick up passengers. Great interesting. one point you missed out they need to wear a mask all the time they in the car not when picking people up - also most masks are one use only or 3 hour wear
Source: WebMD - 🏆 709. / 51 Read more »
California Sues Uber And Lyft For 'Cheating' Drivers And TaxpayersThe state of California is suing Uber and Lyft for classifying their drivers as contractors instead of employees. The state is seeking penalties that it estimates could reach 'hundreds of millions of dollars.' Heading to the courts! Oh man I knew this was coming, I didn't realize so soon!
Source: NPR - 🏆 96. / 63 Read more »
California Sues Uber, Lyft For Not Making Drivers EmployeesI’m a San Francisco-based reporter covering breaking news at Forbes. I’ve previously reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com. rachsandl Watch the California gig economy dry up in three, two, one.... rachsandl Leave it to government to kill the ride-sharing industry. Was this pressure from big donor taxi companies or just typical leftist intervention into the market to collect more taxes?
Source: Forbes - 🏆 394. / 53 Read more »
California is suing Uber and Lyft over alleged worker misclassificationUber and Lyft were hit with a fresh lawsuit on Tuesday by California Attorney General Xavier Becerra and a coalition of city attorneys who allege the companies are misclassifying their workers in violation of a new state law. Uber is vampire 🧛♂️ that have been sucking blood 🩸 of drivers for last 8 years. They must payback.
Source: CNN - 🏆 4. / 95 Read more »
Uber and Lyft face landmark lawsuit over gig worker classificationCalifornia AG Becerra files lawsuit against Uber and Lyft, alleging that they have evaded state law by declaring their workers to be contractors rather than employees. Hopefully the state can win this one. They are contractors. The drivers are fully aware of the conditions surrounding their working classification with Uber/Lyft when they agreed to their terms. If they don’t like it, don’t drive for them. Another example of government making it hard for business to do business.
Source: NBCNews - 🏆 10. / 86 Read more »
California sues Uber, Lyft over misclassifying drivers as contractorsCalifornia and three of its largest cities on Tuesday sued Uber Technologies Inc and Lyft Inc , accusing them of classifying their drivers improperly as independent contractors instead of employees, evading workplace protections and withholding worker benefits. What an interesting development. Idk if Uber or Lyft can survive if their drivers are treated like standard company employees. If the driver is driving for more than 32 hours a week (the threshold for being a full-time employee) then they should be a 'employee' versus being part-time and being considered a 'contractor'. Good on them. Labour arbitration as a business model, where companies try to avoid their responsibilities toward their employers, must be stamped on aggressively.
Source: Reuters - 🏆 2. / 97 Read more »