In an effort to comply with a new California law that would make “gig-economy” workers employees, Uber is experimenting with letting drivers raise prices, according to The Wall Street Journal. California’s gig-economy law, Assembly Bill 5 (AB5), went into effect…
CES 2020: Hyundai And Uber Partner To Provide Aerial Ridesharing
Hyundai and Uber made a splash at CES 2020 with a partnership to develop and deploy Uber Air Taxies, according to a press release. Hyundai made news in late 2019 when it created its Urban Air Mobility (UAM) division. UAM…
Uber and Postmates Sue to Block California’s Gig Economy Law
Reuters is reporting that Uber and Postmates have filed a lawsuit in an attempt to block a California law that would have severe ramifications for both companies. California’s Governor Gavin Newsom signed a law that makes it more difficult for…
Uber Buys 596 Acres Near Pittsburg For Self-Driving Test Track
Business Insider is reporting Uber has purchased 596 acres near Pittsburg to establish a test track for self-driving cars. Uber has been in the news a lot lately, and not all of it good. The company recently released a safety…
Judge Sides With Uber & Lyft in NYC Cruising Cap Case
According to Reuters, a judge has struck down a NYC rule “limiting how much time drivers for ride-hailing services can spend cruising streets in busy areas of Manhattan without passengers.” Uber and Lyft filed separate lawsuits challenging a NYC rule…
Uber’s Ride-Hailing Service Banned in Germany
Reuters is reporting that a German court has banned Uber from providing its ride-hailing services in Germany, saying it lacks the license necessary to transport passengers in rental vehicles. Uber currently operates in seven German cities, including Berlin, Frankfurt and…
Uber Sues LA Department of Transportation Over Electric Scooter Data, Cites Privacy Concerns
According to a report by The Verge, Uber has said it will not share real-time electric scooter data with the Los Angeles Department of Transportation (LADOT) and is filing a lawsuit against the department. The suit revolves around LA’s use…
Uber CEO Reveals Formula To Profitability
Scale is the primary driver toward profitability, says Uber CEO Dara Khosrowshahi. It’s getting big. It’s a combination of growing top-line over 35 percent, technology innovation to delight the customer and take costs down at the same time, and then good old fashioned efficiency, making sure that our corporate costs don’t grow as fast as our revenue.
Uber CEO: We Expect This Business To Be Very Profitable
“Not only do we expect to hit cashflow break-even, but we expect this business to be very profitable at maturity,” say Uber CEO Dara Khosrowshahi. “I think that going forward our spending declines as a percent of revenue. So when you’re growing trips 35 percent year on year your spending is going to increase.”
Virtual Restaurants Helping Power Uber Eats Growth
“Virtual restaurants is a very interesting initiative,” says Uber Eats EMEA head Rodrigo Arevalo. “Basically by leveraging the data on our platform, we can partner with other restaurants in order to cuisine types that only exist on food delivery platforms.”