(Source: https://www.nytimes.com/2019/09/15/upshot/gig-economy-limits-labor-market-uber-california.html?fbclid=IwAR2-j0Uv4ji5WWOH7UglfVXeaWKNBDNagMvWeLDzL5WFrEfhejyDmusn6pU) Companies like Uber are hitting the turbulence of government regulation, worker resistance and labor market reality. Not too long ago, the “gig economy” looked as if it just might be the future of work in America. The rapid rise of digital platforms that let people earn money by driving passengers, delivering groceries, walking dogs or […]
Published Tue, Sep 3 2019 4:13 PM EDT Updated Tue, Sep 3 2019 4:44 PM EDT (Source) Key Points Uber and Lyft fell to fresh lows on Tuesday, posting their lowest close ever. Both companies have had a particularly rough ride on the public markets since their respective IPOs earlier this year. Lyft and Uber’s leadership […]
Uber is valued at over $82 billion, but many of its employees aren’t even making minimum wage.
(Source: https://www.vice.com/en_au/article/zmjew8/were-all-killing-uber-just-by-using-it) Uber lost another $5.2 billion this quarter and continues to lose money. For now, we’re just getting subsidized rides from Silicon Valley investors. Uber just reported that in the past three months, it lost $5.2 billion (BILLION!!). As the business press spills black ink explaining away Uber’s red ink, this is a good […]