36 Burst results for "uber"
Fresh update on "uber" discussed on Bloomberg Markets
"Right Bloomberg stack senator Davis and thank you so much we appreciate that And we had that drill this claims number came in a little bit higher than expected And I'm looking at a story just a time that in target is planning less seasonal hiring than last year relying more on its existing workforce because they just can't hire people Yeah well the question is does that ease a little bit now We heard from Uber and AutoZone and a couple of other companies lately that since the enhanced unemployment benefits expired they're able to hire at a faster rate So we'll pay attention to the.
The Creation Story of Bounce With Co-Founder, CEO Cody Candee
"Outsourcing network of local businesses all around the world big cities we operate different services inside of these businesses for the main one where the bulk of bounce is all around luggage storage. When you're traveling. Now let's check in check out day. You might have all your things in place to keep them with. Bouncy can open our app or a website and find a place to go and leave your thanks for the day the businesses that we work with make extra revenue off that after traffic and travellers all day of their vacation or business travel or whatever it. Is we see leaving golfer. Events wilson launched another product this year package acceptance rate on top of our existing network. You can send your packages to about slow pitch and help with traveling or if he lives in a city doorman i can't be around. Two receivers earned delivery so yeah sorta long-term and we'll be building bounds to help these small businesses make more money and then on your side we exist to basically keep people from not having to plan their days around there things anymore so luggage storage package. Acceptance tools will add more in the future in two thousand fourteen. I was working in san francisco. Some friends some co workers in the scrap. Some drinks after work. Someone said i'm going to join. But i'm gonna go all the way home. I drop off my bag and being minimalist that i am. You know living by this lawsuit that you're thinks she hold you down. I thought crazy how common it is for people to literally go way out of the way to plan the whole evening around there. Things spend extra money on taxis or the ubers and yeah it's crazy. So how can we solve problem. That night i was far. And i took the back of a menu. And we're just like writing all radios that came to my head including inbound that first day and the big vision is can we build a cloud computing infrastructure for the physical distributed storage everywhere. I mean you go with your thanks to you
The Not so Digital Workforce
"You may think of the digital workforce as zoom meetings and shed google docs but this trend encompasses a wide range of industries and types of work. This labor refers to a really wide suite of different types of work quite often The moment is being used to refer to digital knowledge. Work so any works. That's that can be undertaken through computers. I virtually remotely roth than having to be in a specific geographical location. That's david vissel. David is a human geography at the university of melbourne and he researches the changing relationship between people and place. There's a wide spectrum of other types of works that could equally be referred to as digital works so the economy in in cities. So things like uber and delivery and all of those new types of services that we're seeing springing up in in our cities that are absolutely reliance on networks of connected mobile phones and algorithms that drive that drive both the workers and consumers so even sectors threats we traditionally associate with being very different and very not digital say things like mining for example are increasingly using. Ai and different types of autonomous developments. So yes a labor certainly a massive consideration through across a lot of different sectors of the moment and it's very variable bull people participating in the digital workforce than ever before this rapid change is something. That's come out of necessity with the emergence of the pandemic but as david explains this influx of flexible and digital workers has an impact on the way how cities function well hit potentially involves all of us in terms of the effects that it has so even if you don't work at all and no doubt you purchase things and you use different online services so even consumers are using dish labor.
DoorDash, Grubhub, Uber Eats Sue New York City Over Restaurant Fee Caps
"Uber. And grub hub filed a lawsuit against the city of new york. Federal court disputing. The law passed last month. Capping the amount of commission that food delivery apps khun charge restaurants. New york want to limit what the restaurants get charged by the deliver companies. The suit asks for an injunction against the law going into effect monetary damages and requests. A jury trial the firms alleged. The law constitutes government overreach forcing them to rewrite contracts with restaurants and raising fees for customers.
Tracking Growth Marketing in 2021
"Gonna be talking about growth marketing day. All kinds of really important subjects obviously was fintech as focused jonathan. You're up here but you're muted. Because twitter likes to annoy people that way. John are you there i am. Hello danny how are you good. We're getting people through this tunnel one next. We're going to get marianne set up here in just a second but in the meantime i'm going to introduce our speaker today. So jonathan metric is the chief growth officer at portage ventures or advises a global portfolio with companies including wealth simple in canada albert in the us and clark in germany previously. He was the chief marketing officer of policy. Genius when the largest intertek marketplace's leading a division of forty plus growth marketers in scaling revenue. Kennex over three years jonathan. Welcome thank you thank you very much. It's great to be here and excited to be on this new pop pharmacist by twitter spaces. Hang out so. I'm excited to see kind of how this goes and great to chat with you to today but growth and fintech absolutely. Well i will say it's gone from alpha to beta at this point. It was pretty janke the first few times we did this. Maybe two three months ago. And i think the android app is now working at doesn't crash every five minutes. Good started when you think about growth and twenty twenty one i i to me growth has been the uber story of the entire year in every company is growing. The marketing channels are getting congested. Cat costs are going up on almost every pay channel. It's more competitive than ever on organic. What are you thinking about these days when it comes to growth in two thousand twenty one. Yeah i mean. I think you you hit the nail on the head there right and i think you know if we dial it back a little bit to the beginning of cova. I think there was a bit of a pause on you. Know is the sky falling. Are we going to be growing all right. And i think you know a couple of months after that in twenty twenty we saw immediate rebound with folks just kind of shifting attention to online direct ways of buying products that weren't necessarily in person direct to consumer. And you know. I think growth really road that way right and when i think of gross you know i think it's more around folks who are looking at driving revenue for their business and that can involve marketing can involve product and Components performance marketing.
The Alexa Prize Story - Professor Jan Sedivy on Winning the Alexa Prize SocialBot Challenge and 40 Years in Voice Tech - Voicebot Podcast Ep 225 - burst 05
"I start date group and there were many students who got through Applause am giving the who worked with me. Owner fees asuncion Step by step We have been following the progress in the industry and i was You know get inca people who are more and more interested than who are willing to cooperate and in some i would say like plenty fourteen. He decided to do question answering. So he did the Different knowledge database as son view slowly but surely giving questions like typing questions Did voice until Land the very basics of or the students learn the very basic so unhappy like do data extraction duties on the And then sunday in twenty sixteen. All's own came up with this competition and the competition or the main task of the competition was to create a social boat. Which would engaging louis and also entertainingly talking to users so and the target or the goal of those to talk as long as possible to survey difficult to convert into functional end to any a system function so it was something which is a entertainment as well as mathematics and many many different algorithms in it and a deadline We once of the road is meant a muslim put on there but they just resold so we should try and the weaver very pessimistically plus weaver. starting beautiful He can do these universities. We are admiring from here that they have a much better team. Sunday would be those who would lead. But the thought okay. Let's give it a try so we put together a proposal and the we mainly based on our work in the question onset. Inca believe me or not. We made between the top twelfth. Who was elected as these semi-finalists that time and is brought us like two fifty For students and This money this was something fantastic because this monday helped me to keep the key people on board and no students receive money therefore four day fully concentrated on the problems. We were interested in which was the social. We stopped the to put it together. In a very practical by firestone stopped with trying cody allies debts time grew and neural networks and after a few attempts we thought. Okay that is. This does not work. It's very difficult. And we opt for very simple based system and started to grow a simple system and it worked it did something is and people were able to talk to it so we went on indie competition. The uber very surprised that we were doing very out. We saw on the leaderboard by Even two or the competing sites and we've had been we have been leading so we continued. We ended up in the final on the second sports which was unbelievable. Fantastic success v about twice in seattle Received the mind price in In las vegas so unbelievably nobody for a while. I was in las vegas but none of the students was ever in las vegas. Which is again something you cannot note. See anywhere else. Except in las dos.
Dysfunction in the Desert: A Look at the Stumbling Arizona Coyotes
"Also katie the arizona. Coyotes haven't exactly been the most stable nhl franchise over the years there's been a bit of a revolving door of owners and the nhl even took control of the team for a while back in two thousand nine after a bankruptcy filing so given all of that. What was the feeling when. Alex murillo became the coyotes new owner in two thousand nineteen or so appealing on a number of levels on new era of arizona. Coyotes hockey began today the nhl. I ever hispanic owner was introduced to the valley and it was heralded as sort of Watershed moment i think for the franchise in the sense. That here could finally be that guy with uber. Deep pockets like he was reported to be a billionaire. And someone that had tied to the latino community what started this is alex enrolling arizona's cowpeas which is a market that is about forty forty two percent down and really showed a commitment to wanting to grow that level of connection with fan base. You spittle to this. But it will stand up delekta akin arizona but luckily latina. It asked us. He has a really interesting. I don't wanna say rags-to-riches tail but someone that really supposedly scrapped. His way to where he is now. His parents fled cuba in the sixties. They came to miami in college. He opened a location for a pizzeria that grew to become a chain. I had this knack for picking up. Visit our broken losing money and turning him around and make them successful. I'm very proud to be a part of the fifty five year. Old morello owns a chain of pizza restaurants in l. a. casino on the las vegas strip a construction company as well as tv and radio stations. No doubt his will in history of success. Some major win for the coyotes.
Naomi Osaka Weighs Another Break From Tennis After US Open Loss
"Was just one of those days at the twenty twenty one. Us open a day that featured sixteen round of thirty two singles matches saw eight of those sixteen go the distance. Four on the side. Four on the women's side. Want to break down all of that action on today's show. Of course the place will start. We are down a defending champion. Two time us open winner. Twenty twenty twenty eighteen ninety homeo- sokha your third seep here. At this year's event knocked off by uber talented eighteen year old canadian leila fernandez. I wanna talk about the mechanics of that match. I wanna talk about soccer comments after the match as well she indicated. She's not sure when she's going to next step on a tennis
Lyft, Uber to Defend Drivers Sued Under Texas Abortion Law
"At a news. Alert on uber contested. Burs got the story contessa. Hi melissa what we have just heard from. Dr nassar shot. He is that he's coming forward and clapping competitor. Lift on the back for the actions that it's taking in texas and saying it's going to match that. So here's what happened. Lift him forward and said that they were going to start a legal defense fund for any of the drivers who got accused under this new texas abortion law antiabortion law of assisting women receive now illegal abortions in the state of texas lift would set up a legal defense fund to defend those drivers and just a short time ago. Dara had tweeted out that He thought that that was the right. Decision on lifts part and they were planning to have uber matt. Make the same move So uber now also will cover legal legal fees for drivers in the same way. And there's dr thank. Thanks for the push. Logan green. That drivers should not be put at risk for gani people where they want to go. Melissa basically the premise contest is that even rideshare drivers. Who take women to these appointments are seen as aiding these women in an illegal abortion at this point and could be fine and so so at that point. The companies will step in and cover the legal fees.
Texas Law That Bans Abortion After About 6 Weeks Takes Effect
"Texas law banning abortions. After six weeks went into effect yesterday law prohibits abortions wants cardiac activity can be detected an embryo which very early the law also allows. This is sort of twist allows private citizens to sue abortion providers and anyone else who gives who helps a woman obtained an abortion in texas including even an uber driver who might have given a woman a ride to the clinic. The law makes no exception for rape or incest. The supreme court refused to block. The banner has now materializing a huge threat to roe versus wade. So what do you think under his eye. Where are we in the handmaid's to be the fruit. Blessed the fruit. It'd be fruit here not to joke about something so serious but let's not but to joke but not joke tweeted something yesterday And that is this that why men think they have something to say as much. They think they want to say about this when their contribution to the reproductive process last six or seven seconds. Maybe eight if it's been awhile and women for the next nine months and then feeding the baby breastfeeding afterward do all the heavy lifting all right. This is this. Is the women's show here and men want piece of this action like they've got something to say here it's dictatorial. This is i think janet jackson said it. Best in the first five seconds for in nineteen ninety-six smash album control okay. This is a story about control. Okay like it's about power and control. This is full handmaid's tale. That's one thing. The other thing as it relates to roe v. Wade as i understand roe v wade in nineteen seventy-three also texas with the same issue the supreme court as i understand it felt that texas's laws or whatever regarding abortion violated a woman's constitutional right to privacy about privacy. So what is it about this new situation. That is also not a violation of privacy.
Texas Abortion Law Explained: Everything You Need to Know
"We're going to bring you an off week special episode to discuss the order. That was just handed down right before midnight on wednesday night up holding a really novel. Texas abortion law this law. We've actually talked about it on the show before is known as sba effectively bans all abortions. After the six week of pregnancy many many women do not know that they are pregnant at six weeks of pregnancy. There is no exception. For rape and incest governor greg abbott signed. Sp eight into law in may and of course the trick behind the law is that unlike similar deliberately unconstitutional abortion bans. heartbeat ends. What have you. Sba doesn't allow any state actors to enforce it there in fact prohibited from enforcing it instead literally everyone else. Any american anywhere is empowered is in fact conscripted to bring civil lawsuits against either an abortion provider. Or anyone who quote aids and abets those terms. Go undefined on abortion. That could include your counselor. Who talks to you about your options or the uber driver who drops you off at the clinic. Look the law is unconstitutional. Texas is well aware that the supreme court precedent sets the bar for abortion bans at viability. That somewhere between twenty two and twenty four weeks but this law was deliberately crafted so that there is no state actor and thus nobody for an abortion provider to take to court to try to get injunction one other thing if an abortion provider is sued in state court under sb eight. And they lose well. The winning party not only gets bounty of ten thousand dollars possibly more. They also collect. Attorney's
Justices Blast Texas Abortion Ruling
"All four dissenting judges justices filed opinions. Some scathing against the majority's refusal to block that texas law that virtually bands abortion chief justice. John roberts who joined the court's three liberals wrote quote the statutory scheme before the court is not only unusual but unprecedented end quote justice. Sonia so to my order was much more direct quote saying quote a majority of justices have opted to bury their heads in the sand. She goes on to say it cannot be the case that a state can evade federal judicial scrutiny. By outsourcing the enforcement of unconstitutional laws to its citizenry with us again. I kneel cocktail department of justice veteran and former acting solicitor general during the obama administration. He argued dozens of cases before the united states supreme court. Neil good to see you. Thank you for being with us. We need your clarity on this. What did chief justice john roberts in describing this as unusual and unprecedented the bottom line is the supreme court basically gave a thumbs up to the overruling of roe versus wade so abortion clinics as of yesterday in texas are essentially closed to all patients. And what the court west texas yesterday can be enacted tomorrow in other states in deed will other states Code already Said they're gonna try to enact such legislation and so with the chief justice was referring to was. This is a really weird. Texas scheme outlawed abortion after six weeks effectively. But it said the state isn't gonna enforced instead. It created vigilante justice. Any private citizen could sue anyone. Who's helping anyone get an abortion so if you'd like take an uber to the ocean clinic this law said you can the uber driver and sue them anywhere in texas including far away from their homes and seek ten thousand dollars in damages against them plus attorneys
Texas Abortion Ban: What It Means and What Happens Next
"Texas law that went into effect today is being accurately reported as banning abortions after about six weeks of pregnancy in direct violation of federal law is established by the surpreme court nineteen seventy-three but but the important reality is. The texas law is very likely to ban all abortions in texas in effect because it puts every provider of abortion services including the uber driver who drives women's to a clinic at legal risk of being sued for every abortion performed in texas at any stage of pregnancy. Anyone in texas or anyone anywhere else in the con- anywhere else in the country. A lawsuit in texas now suing the receptionist at a clinic were an abortion has been performed if it can be proved that the abortion was performed before a fetal heartbeat could be detected then the receptionist defended will win the case and be okay but how is the receptionist. Defendant going to pay a lawyer in that case. How is everyone else working at the clinic. Going to be able to pay a lawyer when every single abortion performed at that clinic becomes the subject of a lawsuit as every one of them surely will
Ridesharing Services Premium Digital Channels With Octopus Interactive CEO Cherian Thomas
"And welcome back to the mark tech podcast rates back. Ben accent have you back on the show and to continue our conversation. Yesterday we focus more on out of home. Broadly the idea that people are leaving the house. Were not just focused at home. So we're basically getting more impressions in different places and it's changing the marketing mix billboards transportation and octopus specialty marketing in rideshare. I wanna double click and talk about where your bread is buttered. And how rideshare is an opportunity for marketers. Talk to me about the rideshare market and how it's grown and then how marketers can take advantage of it one of the things that's important to note is just like folks went from television to desktop desktop to mobile. We feel that the next place to consume media will be motorized. You can go from rideshare to robo taxis autonomous vehicles and rideshare israeli this unbelievable setting where you have dwell time. I'm not driving the vehicle. So i can be entertained. It could be productive. I can watch videos. Listen to music socialize and so forth and that's where we see this huge on lock right this unbelievable amounts of dwell time in a captive setting. And then you layer in. Who is the uber and lift rider and the audience demographics are just you know that quintessential consumer that eighteen to forty nine. That's hard to reach high disposable income travelling in and around cities and so not only. Is it valuable setting. but it's also extremely valuable audience. I understand the audience is valuable. And i understand that they are captive. They also have a cell phone because they called an uber because they call the lift so the medium that octopus uses putting screen built into the rideshare he just hanging an ipad off the back of a chair or something obviously mounted so people aren't running off with them but yeah it's mounted of the cussing cases and you're right people have their phones. They also can look out the window. They can also talk to the driver. We are the largest screen in the room. they spit out money and prizes for engaging with it. And you're gonna get content on our screens that you just cannot get on your phone. For example if you're playing trivia against hundreds of thousands of other uber and lift riders to win prizes. Right that's happening on our screens. Not on the phone and then also our brand partners are giving us exclusive games that you're not able to plan your fun.
How to Get Chicago Kids to School Is Latest Pandemic Headache
"Chicago area school districts are dealing with yet another hurdle with kids heading back to the classrooms, and that is a shortage of bus drivers. A lot of drivers retired during the pandemic or have decided because of the virus. They're not going to come back. Here's WGN's Megan Dwyer. School bus companies are now competing with uber Grubhub and Amazon to get drivers and they are finding they just can't compete despite offering incentives like signing bonuses and free healthcare. With CPS going back to school next week. The fear is the district shortage is going to be severe. W. G M reached out to CPS asking for information on their transport plan, but they have not
Ben Simmons Trade Talks Are Reportedly 'Stalled'
"There is a report from. Cbs sports that the sixers could be preparing to have ben simmons in camp on the roster after trade rumors all summer. What do you think the chances are ben. Simmons starts the season with the sixers. So let's not clough what you saw. Ben simmons in the fourth quarter against the atlanta hawks with the fact that he's a uber talented player to just doesn't attempt shots outside of the paint so to couple. Those are two different things. So if you're feeling you trying to move him after that you're just not going to get the value play return. He's gonna have to come to camp and play value back up and when you do an extension with joel embiid. I'm pretty sure you talk to him. About the future of ben simmons and so you bring them back to camp you start the season woodham. You hope that he plays remotely like he was playing last year as he became a defensive player of the year candidate as he can't flirt with triple doubles. There's so many valuable thieves he can bring to the table. Then if that if in win that value re elevates. That's when you try to move him especially for what they're going to be asking for in
Why Is Fasting Bad for Menopause?
"Well. I don't think fasting is bad for menopause. In fact i would argue that. Menopausal women have this incredible advantage because they're not dealing with having monthly cycles not having significant fluctuations like they did when they were still cyprian between estrogen and progesterone. Each month their bodies are not in a place where they're going to procreate they're not going to have to maintain and sustain of pregnancy and so therefore biologically. I think that are an advantage. I think it's it's a time when We have to mitigate stress. We have to be really proactive. I remind everyone that knit middle ages the time when our bodies will remind us if we are not being conscientious enough about software strategies so that includes high quality sleep that includes stress management that includes removing inflammatory foods from our diet that includes not over exercising. Which is the typical tendency. We think when you have to work out harder to lose weight than we did when we were younger and really. It's it's all the other things. I've just kind of mentioned yet to be workout smarter. Not harder and so. I don't think fasting. As bad for menopause and backed i think most women as they transition into their early forties with the loss of esther dial which is the active form of estrogen is. That's kind of petering off People's appetites shift and change and so it's much easier for people to eat less often. It is the the you know. The desire gede naby decreased and so getting up in the morning and getting a workout in and get your kids off to school or getting yourself to were You're not focused on having to get that. First neil end so i really do believe that utilized with the other strategies that i've already kind of alluded to stress management making sure that uber removed inflammatory foods and and the big ones. Are you know gluten. And
Ghost Kitchens See Light of Day During Pandemic
"Of ghost kitchens is expanding exponentially, as is investment in the concept. What's a ghost kitchen and then those? No, It's not a place where ghost is the chef Michelle Romano, Tech entrepreneur and co founder of Clear Coat. These are very small kitchens that are designed to serve only customers. That order from them from platforms like seamless or uber eats. And so there's no need for a storefront. There's no need for guests eating, Romano says. That means you don't have to invest a million dollars to start up a ghost kitchen like you would a regular restaurant. You can set up a ghost kitchen now. $50,000. Now This isn't just about startups and entrepreneurs. Grocery giant Kroger will begin preparing restaurant meals from Ralph's location in Los Angeles this fall. More kitchens will be added in stores later this year in a joint venture with Kitchen United, which specializes in ghost kitchens. As many as six different restaurant companies, including local, regional and national brands will be featured. Gregg
Everyone Is Getting Their People out Except the U.S. Government
"Folks. That was a video I saw On social media. But right before we got on the air of the French at their embassy, using buses, military vehicles, armored vehicles, non armored vehicles and basically everything. They had to go to their embassy and get their people out and get him to the airport for evacuation. The French are doing that. Why are we doing that? That's a real video. That's not just like we just pulled Jim getting sound the car exhausted, but you know, that's a real video. Granted. It's a radio show, but I just wanted you to hear it. Just wanted you to hear the sound of what it sounds like when people go into Kabul and get their people out and don't ask the people to take an uber to them. Yeah, just, you know, go up to the Taliban checkpoint. They'll let you go. The very nice people. You know, I did a checkpoint once when I work crowd control of the U. S open months at the Italian at the tennis Center in Flushing Meadow, Queens. You get to let people in if they have a badge of some kind of organized We didn't ask the Taliban to do that. Yeah, the Taliban. Listen. Let the tennis players and if they have a yellow badge, the Taliban be like what do we don't? Do We kill them. No, you don't kill them. No, No, You don't kill him. What do we do next? We take them as sex slaves. No, no, no, You don't do that, either. That's that's why we don't put the Taliban at those checkpoints. But the U. S government to Biden administrator thinks I'd say okay? They think that's just peachy. Taliban? Yeah, Yeah, Just go up there to just tell the Taliban you with America. They'd love to let you through. So your absence are let me get Let let let us through. Option A option B. I'm beheaded options. See, I'm taking hostage. Doesn't sound like an appetizing portfolio of options for me.
"uber" Discussed on Post Reports
"Two reasons concerns about the and concerns about there being writer demand. We're also introduced a program where they were offering. Incentives uber acknowledges more drivers are needed and have launched a temporary two hundred and fifty million dollar stimulus boosts to entice more drivers with the boost metro. Detroit drivers working at least twenty hours a week. Stand to make around thirty dollars an hour and that that was a big hint that they were having a real problem. It has been rare in history of these relatively new companies for them to struggle to attract drivers in the first place and passenger demand. We knew had sagged but sort of thought. That uber left these lifelines for people who either lost jobs been furloughed where otherwise struggling to find work during the pandemic but the fact that uber had to launch this massive program to try to attract drivers was a sure sign that something was wrong. Have you come across his problem while taking a lifter uber. Ride recently. Where you know the fair is high or you're able to get a driver. Yeah the the way you'll notice it is if you're trying to hail newburger and you live in a big city whether you live in dc. Or i live in san francisco. You'll get onto the app and you know a driver who might normally show up in two three minutes. It says that driver is eight minutes away or says drivers twelve minutes away either added twenty minutes. I need them to be there lately. That hasn't been the case. It's been a lot of cancellations lot of no shows. Took sua work thirty something in it sometimes for for a response. Sometimes you don't and it's sort of abnormal. It's a little bit jarring if you're used to the experience on the app when you see the actual fair and it sorta just five in the face of uber's traditional model which is have as many drivers as possible as close as possible so that you can make the trip as convenient as possible. Is driver shortage. Something that is mostly bean seen in big cities or is it affecting rural areas as well so iran lifts presences aren't huge rural areas. But they definitely are big and getting bigger in the suburbs. So as you get into areas outside of city centers. The way you'll see this manifest is there's going to be a lower density available drivers and so that way particularly of the suburbs that might of been five ten minutes might now be fifteen or twenty minutes and that's fair. That might have been ten. Fifteen dollars might be twenty or thirty dollars so it's just having ripple effects across the network. And what are you hearing from drivers about. Why they're deciding not to drive uber and lyft anymore so there are factors play. I when we first went into lockdown there was a big fear over services like coupon left because we didn't know necessarily all the facts about how kovic spread. We didn't know what the risk of picking up passengers and transporting them in your car and so drivers in large numbers Stopped working for uber. Left and kovic fears. Were a big one. There was also the fact that passenger demand dried up seemingly overnight where there were trips available throughout the day and it was lucrative to dry for these services that was no the case and so that drove a lot of folks away. But i think it's it's worth mentioning that people always say like if you can't find any any drivers why don't you just pay them more money and that's a really common sentiment. I mean from the driver. Perspective uber basically exhausted a lot of goodwill by the way it treated drivers prior to this supply shortage drivers had seen what they regarded as years of dwindling earnings. They felt like were they had previously. been making. let's say more than a thousand dollars a week doing a reasonable amount of driving. They're only making hundreds and they saw a lot of their bonus incentives disappear. They felt like they were doing longer hours for less money. And for a certain subset of drivers who did a plurality of driving at least you know these are folks who are driving thirty forty hours a week. Who are treating this like a fulltime job. But they aren't entitled to a minimum wage. They aren't entitled who unemployment sick pay vacation healthcare so the benefits that might be traditionally associated with the full-time job that they were doing Just weren't there for them so there was definitely frustration over this feeling of not being able to get ahead despite doing as much more work than before. So why should they go back to the app in its time of need over for its part and with to say that. The fares are higher than they've been in years that because of the way supplies dried up the surges passengers surge pricing those surges are way up so drivers serving areas where there are very few of them. Available to pick up. Passengers can make more money than they're used to making. That's the argument that companies are making but drivers feel like that won't last last year almost seemed as if some of these issues were going to go away for drivers in california right but that ended up not happening. Yeah so prop. Twenty two was about measure in the state of california. That was backed by ride. Hailing and food delivery apps who poured hundreds of millions of dollars at least two hundred million dollars into trying to supersede a state law that it passed. Granting uber and lyft drivers employment so under the original legislation assembly bill. Five drivers would have been granted. Full employment giving them a minimum wage giving them healthcare giving them benefits such as sick leave vacation days unemployment and everything associated with being an employee. The companies argued that that cut into the core of their business models and it took away the independence that they said was to running their businesses so they stood up a ballot. Measure called prop twenty two aiming to put it to the voters and arguing. That drivers in fact wanted to be independent. Prop twenty two would have cemented their status. A gig workers status as independent contractors while providing limited benefits in earnings guarantee a healthcare subsidy and other benefits that we necessarily what they might find an employment but were you might say watered down version of it. It passed overwhelmingly at the ballot. box in november. Do you think this decision to pass. It played into the shortage at all. I mean there's definitely an argument that if drivers were employees all along. This might not have happened. Right those drivers they would have been taken care of during the pandemic Uber left emerged with a pool of workers who they had a little bit more control over but who could who they could dispatch to meet the customer to mand and when you talk to drivers you've experienced this who left as a result of the pandemic. it's really striking. how some of them. Just don't see themselves returning. They feel like they've been exploited and they feel like the earnings opportunities aren't worth de stress. That was put on them from the job. The depreciation they face the maintenance costs of keeping their car in a state of good repair to keep driving and so they feel like they can never go back. It's interesting the extent to which you will find that within the pool of existing drivers as for attracting new drivers. I mean uber can now say as a result of prop twenty two dave instituted out limited set of benefits so Healthcare subsidy being one of them an earnings guarantee. It's not exactly the minimum wage but it is in earnings guarantee so they can say to this. Maybe this new driver that there is a model there to make this a little bit more sustainable but among that set of drivers who've left it's hard to see them making an argument that they've changed. What do you think this shortage. Men's for the future of these big companies like brand left. Do you think that this moment paired with the pandemic paired with prop twenty two is going to push these companies to sit down and truly rethink how they're structured or or do you feel like it may pass one single say is it's hard to see these companies sort of taking this enrolling over in the face of it uber left have always operated at a loss. The pandemic was interesting because they were able to argue and convince their shareholders. Basically that if we don't give a ride we don't incur the loss so the company's finances were not as thrown off as one might expect the ways that they've had to change and evolve their businesses on the face of this. I think one thing that i found particularly interesting is just how much of uber's business now is. Rooted in delivery. I think on the reason earnings call. They disclosed that deliveries are making up a majority of the business. Now one thing that silicon valley does on the face of problems. Like this is they tend to innovate. And i don't mean that in sort of be rosy wide sense of like. Oh they'll come up with some great technology solution that will fix this know. They'll adjust the app or they will find a new way to get drivers into this system. The system that has basically been criticized as exploitive and unsustainable but has also been lauded for at least giving people an opportunity to make money particularly in the early days of the pandemic. so where where they see a need. I think they will. They will corner that and they will devise ways to get drivers back into the fold. And so that's why hesitant to say that this might be a long term issue for them but certainly is a major issue for them right now. So we'll have to see how they respond. Fence is a tech reporter for the post. The story.
"uber" Discussed on Run That Prank
"He loves he loves sweet-smelling lotions. Wait till you hear this when we'll get into it in just a little bit but right now. The nephew is here with today's prank phone. Call which you got neth over hurts okay. That's that's the louvre hurt. Hurt uber hurt. Let's go hurt hurt allow. hello. I'm trying to reach sean. Please yeah that's me up. Hey how you doing this. My name is brian I got you on schedule You you order the uber for tomorrow morning. I'm i think you're okay you are you. Are you scared to go to the airport. Correct absolutely okay. Hi and i wanna make sure you you want an suv. Yeah one of the suv. Okay and that's ninety two west. What is that hohmann. Ninety grand drive. Correct okay all right all right so i'll be outside tomorrow morning we're talking about Seven p seventy. Am pickup correct. That's it you got it. Everything's gonna point okay all right. So let's i wanted to let you know this man you order sub. I'll be there tomorrow. i'll be probably a little bit before seven. Am you know. And you guys order oover. way in advance. You know we try to get almost like a car service and make sure we get you where you gotta go and i traffic is going to be a little crazy so You know i'll be there on time. I'll be downstairs waiting on your right. I'd appreciate it now. listen. I'm i'm a suv. But it's kind of a little different so that's kinda put a call. I wanted to kind of give you a heads up that I am an suv. So i just want you to look for the The black hearse. That'll be outside. Yeah i i'll be in a blackhurst tomorrow morning. seventy Okay okay abby or hers. No no it's a hurt because hers. Actually what's happening is is. I have another drop off at the airport as well. You know. there's a. I mean it won't affect you at all. They'll they'll be a body in the back but that has to what we're trying to get to the airport to but You know like i. In fact hill you know. Thanks buddy well. I mean there'll be a bad but actually it's costing you less you know what i'm saying so you don't have to lay down and wait. Which man dude you get up right when combined hanging on man listen. You wanted to suv. I'm not ride when the body tripping chance to this trip. I get another over so i'm not ryan with a body. If you cancel that's gonna cost you fifty dollars fifty dollars man like you downloaded the here the deal i know for a fact when you chance over and find out i'm kathleen and that's gonna be five fifty dollars. There's going to be fifty dollars sir. It's different when you can pay me a thousand dollars. I'm not right when you understand. You understand you now but do you want to get to the airport or not look. Why don't you lay down into the body and you drive yourself there with the body like in in the past and just see. I'm not doing tell me what the problem is. I mean obviously you use the driving around with bodies. That's not my thing you know what i'm saying. What what's the problem and you're gonna be in the front of the horse. You're not going to be in the back. We'll put in the backwards. Your luggage in the back. I mean that'll be fine right. Man you tripping man this is crazy you call them wrong with this crazy. Do i'm not doing that. What part of that don't you understand. I'm going to get you there on time sir. But it's going to be in our hearts that's all the difference is man so we'll be riding on hers supposed to be laid out in the right now you got me. What kind of phone call is this was. what's the problem. Obviously you're used to roller with the bodies. The hearses and all that since it start rolling with hearses the pick up regular lab because again from place to place. This is some crazy. I want you to think when when did you think that it would just be cool as regular picking up a body and just driving around industry. I i don't know man. I mean you know. I got two jobs. You know what. I'm saying. I do you know and also you know worked for a mortuary so you know what i'm saying. So you know but my vehicle is is certified and approved it so able to use it as an suv. So you you is and you gave it right. And they don't have no reaction no reaction to riding around inviting the back. Well you know Sometimes there's a little you know. It's a little different for him. I get it you know. But like i said the only reason why i'm calling. Obviously you don't get that 'cause he's gonna hit me with a fifty dollar ma. It saw that i'm not. I'm not goal for and you try to get me to route their body. Do i'm not doing that. So i tell you what breath i'm gonna tell you this right here on the phone tomorrow at seven in the morning me a tommy going to be there so we're looking forward here who's telling me the body. Nah no me and tommy going beat here tomorrow morning at seven. Am young. i'm saying. Just be ready for that. And you're gonna have problem okay. Okay hi sal. At the time you don't see tell me don't tell me. Don't take this to kind so talented him in the morning. Who's tammy the now. okay. You'll know who tommy is not. Don't turn on me. okay do you know. Tommy from the steve harvey morning show. You know nephew tommy. Oh come on. Oh man oh man. Hey man no You boy you you got a boy named chase that you work with chase gave me your number told me to get your call man. Yeah i'm gonna put them in a hearse man. Oh made you gotta give me one more thing. What is the bad is. I'm talking about the bad radio. Show in the land. The steve harvey morning show. Pick up a set. My leader drama. Some that was funny. Do all right. That's all live blankety blank. Which your luggage. On top of the cast classic baby nephew. Listen if you want me to bring somebody go to thomas. Miles dot com commerce miles dot com. That's b. okay great and then click on it. Give me all the information. Let's do this. I will do it for you. I am the king. And i didn't give myself that title but supposedly i am mccain. Let's make it up. That's.
"uber" Discussed on Techmeme Ride Home
"Uber is banking on food delivery to help sustain its business during the coronavirus pandemic as demand for ridesharing has plunged in its first quarter earnings. Uber said gross bookings revenue for its ride segment was down eighty percent in April from a year earlier while gross bookings revenue in eats was up more than fifty percent during the period post mates has had success in specific urban areas Los Angeles and Miami, but has struggled to compete nationally door, Dash GRUB and uber eats. Even with post mates Uber will still trail door dash food delivery market share, according to Edison Trans that should help with US regulators who may have pushed back on an Uber Grub. Tie Up! More likely to accept an uber posts mates deal and quote. Also let me give you this. Take from the verge quote. Food delivery is not profitable, nor is Uber's core ride hailing business, but the company is hoping that with restaurants close to imprison dining. More people will be ordering takeout in the future. Uber eats is an obvious bright spot, but it still under immense strain, thanks to regulatory pressure and competition from grub endure Dash Hoover eats has seen an acceleration in demand since mid-march with eighty nine percent year over year. Gross bookings growth in April, excluding India. India and the company is also abandoning its unprofitable markets at a steady clip. Hoover recently shuttered its business in eight cities, but despite these gains uber is still trailing behind door dash the leader in food delivery in June door dash captured forty five percent of transactions, according to market research firm EDISON TRENDS BY PURCHASING POST MATES UBER can improve its market share to thirty seven percent from its current position of twenty nine percent and quote. which actually that's a lot of money for what is that less than a ten percent market share gain? That's kind of interesting. And the Great Peter Kaka had this take on twitter quote, curious, if slash how many deals are being rushed through now because folks think they can get blessed by the trump administration, see for example, Sprint, T. Mobile, but not a Biden, administration.
"uber" Discussed on Business Wars
"In our new series will tail Uber and lift to learn how these two companies revolutionized transportation forever. They become so ubiquitous. They threatened to make private car. Ownership in some cities seem quaint, if not obsolete. If you don't look under the hood, the numbers are impressive staggering. Even in twenty eighteen writers hailed Uber one point three billion times, and it's revenue topped eleven billion dollars lip picked up. Six hundred twenty million writers piled up two billion dollars. That's untold miles an hours behind the wheel. These behemoths helped pioneer the GIG economy that has redefined the nature of work globally. Drivers like setting their own hours, maybe earning extra money as a side Gig. But all that freedom comes at a cost, especially an uber where historically those who speak out against the company. Do so at their own peril. It won't be long after UBER's founding. It breaks the law and news outlets expose a workplace where managers have sometimes verbally abused workers across acceptable sexual boundaries. And some writers have gone public with accusations that they're drivers sexually assaulted them in the vehicles. All that trouble gives lift and opening. It carefully paints itself as well. The Anti Uber, the Good Guy, the treats its drivers better and doesn't brook any sexist stuff that Uber Bros. tolerate. After leaving their drivers as collateral damage, Uber and lift, or gunning for each other, and as they jockey for dominance, they will take the public and stockholders on one wild ride. This is episode one. Black cars and pink mustaches..
"uber" Discussed on The Information's 411
"All right. Amir a lot to cover in this conversation but given your expertise in the space. I wanted to make sure we started right at the top of interview talking about meat and the supply chain of meat In this country you've been tweeting about it a lot over the last month or so eight weeks So clearly you've taken a keen interest in you know this country's meat supply chain What's what's the latest on this Amir Can i? Can I go to the grocery store yet? Some ground pork you can for the most part. I think there are expected to be a lot more meat. Shortages story happening in in restaurants. And you will start to see more of that in the grocery store and it kind of cuts across. I think Red Meat as well as as well as pork been some really good journalism on the toll that cove nineteen is taken on meet workers. Another not really here. What we're T- we're what we are here to talk about but it's Pretty important thing that's been happening since this country is so in love with with me. Hopefully people Discover rediscover or discover vegetables. Vegetables are great and they will help you the fear in one of the reasons why I think covert nineteen is going to be tough for this country although I hope not is because This country is not healthy relative to some other countries that have done much better like northern northern Europe for instance so So that's kind of why I care about it and Really interested to see whether people discover any alternatives in the meantime not just like beyond me to impossible burgers but but also Vegetables found and trust me audience. We can move on after this what I found so deeply depressing about this whole storyline is everything about it. I mean both the treatment of the workers who are getting sick at rates far far higher than people in other industries probably because the nature of these jobs are all closely together and it's pretty cold in these factories. But also I mean you know if you've read the stories about all the animals have to be euthanized because they can't be held on the farms any longer and there's no slaughterhouses to take them. It's just like the the level of devastation. That goes into a decision. Like this or the pandemic is so deep and it just to me clearly reveals that we have a very very broken system. Yeah look I'm not by the way people are going to think like a Vegan or something. I'm not I love meat eating meat all my life boy. That's why you care about the whole process. Exactly I grew up in Iowa but I do think that these are really good times to kind of review factory farming and and You know the processing. Also of all these mates. It's pretty disgusting Gross Affair. You really don't WanNa see it once. You understand what it's actually like. You really want to eat meat a lot less or chicken a lot less. It's pretty gruesome stuff but but there are some quote unquote tech companies that are poised to do better biotech companies. Or you know we got. I keep thinking what would have happened if Google had acquired impossible. Foods that makes the impossible burger. They're doing they're doing so well. These days and poised to do much better now so they're probably happy they didn't sell right and I I mean we'll see a post. Pandemic level of investment is in these companies. You know a lot of already doing really well. Okay people are begging me to move on. How do I transition so well? Here's the thing. Obviously we're not talking about you. Know the level of unemployment and sickness in the tech industry as you are in In meat processing but there is a huge wave of layoffs. That have already come or going to come in ridesharing or sorry ride hailing which you is your predominant beat. You broke the news a week ago. Two weeks ago about Uber. Kind of starting to get really serious about laying off their workforce and it sounds to me like this week the first wave sort of took place that kind of with Uber. What what is the latest? Yeah so initially. I heard twenty to thirty percent of the workforce of this twenty. Seven thousand person. Company was going to happen. Obviously they have way way more drivers who are contractors and there's increasing debate about the kind of benefits that drivers deserve since a lot of them are out of work in her trying to find kind of food delivery grocery delivery or even warehouse. Work is an alternative Certainly after Some of the state government stimulus money runs out. Have to do that. assuming that the recovery in transportation in the core kind of Uber like Business will take a long time to to back up to normal so in terms of the layoffs at the company Yeah it's it's It's happening it started Earlier this week with customer support as well as recruiting sincere cutting people hiring and it's going GonNa get worse. 'cause BIG BIG CUTS ARE? GonNa come to you. Know Engineering and product and self driving car development there and All sorts of other areas. So they're all prepping for that And it will happen kind of within the next ten days or so so Yeah lift had layoffs last week and look I mean so. So many. Hundreds or thousands of startups venture backed companies of have been laid. People off. So you know if you're an engineer You may have a little bit more luck since engineering is you know always always needed somewhere but for other types of folks. It's you know it could be pretty pretty Ross out there for a while so and the reason why Uber and lift because these are huge layoffs. I mean that's more thirty percents even more than AIRBNB which you would think is one of the most directly affected companies in the tech world. I mean it's as simple as the fact that people just aren't people aren't taking cars right now right. I mean there just isn't a demand in the US for for the best service. Yeah that's right as we've been reporting for about the past month or so. The and and it was just confirmed by both companies this week when they had their first quarter earnings ride levels dropped two down eighty percent versus a year ago. So you know quite severe. And they're now slowly starting to recover and in some of the States that have Quote there's been there's been some more activity but the key markets are like New York and San Francisco Los Angeles That's where the money the real money is is is is made particularly New York in La for these companies. So I'm GonNa take a little bit longer there and Yeah so the. The companies basically said look. We're in for a prolonged recession here. So we've got you know they're basically planning for the worst and grab grab which is a ride hailing company in South East. Asia told us a month ago. They were preparing for two years of recession. And hopefully not that bad but in a recessionary period demand is going to be lighter on the flip side on the labor side driver's side That gets cheaper. You don't have to attract drivers are pay as much to quote unquote a acquire them are tracked him to to work for you. Same goes for food. Delivery Could be less demand but also you know if the recession kind of is prolonged but also on the cost side. It's less so it could end up being A really interesting case where. Somebody's food delivery companies that were just burning cash including Uber. Burning on ubereats. But you know door. Dash was burning although not to the same extent and delivery and other companies around the world were burning money because there were too many players in every market. It could be that now. They won't have to consolidate or merge one another in the same way that they were before they're I want to solve your second there because With Uber Lift. You have companies that have you know their core. Business is the same of Ride Hailing Uber has. This uber eats business. That has Been something more demand during this period. Were all stuck at home Has that been a benefit to them and like his in a better position because Uber eats exists. They are yeah they they would be there kind of overall gross bookings they have like this gross revenue number. It's not the money that they keep it. It's the money that's the kind of flowing into them through their APPs that would have been down by like eighty percents Right now but because they have food delivery it's only forty percent. It's GonNa it's GonNa be down more. I think on revenue because they usually keep smaller percentage of food orders than they keep from. Ride hailing but yes. It's been a lifeline for them. It's given them a mission. They're about to close acquisition of Grocery Delivery firm Corner Shop that operates in Latin America. I think Candida so they have. They have some softening Uber. Eats had been albatross around Neck for a long time because the competition was so brutal door dash had taken the lead and really couldn't keep up with them and they were burning more money or dash has been more efficient. Than Rita's it's been a really big problem so eats alone last year. I think it represented like one point six or one point. Seven billion dollars worth of cash burn For Uber. It's a ton of money but now that sort of slipped For the time being demand is through the roof because people at home and it doesn't cost anything to attract riders. So yes it's been. It's been a huge thing for them and actually took a dig at list in their earnings call yesterday. Uber did with the CEO saying that like other players. That don't have food. Delivery are being hurt more in a reference to lift so I think yeah lift wishes it were more than just rides. But it's not right so on the side business French who You guys also had the story about lime and kind of be increasingly entangled relationship between these two companies And then I actually want to ask you first about them but then also about lift and kind of what they're Lime types businesses doing so Basically the the short of it is that Uber and lead the round the new investment round in lime at a huge decrease in its last valuation and also kind of installed their executive is the new as the new head of lime. Is that right? So one of the one of the senior executives at lime which is basically the global leader outside of China in terms of electric kind of bike and scooter rentals One of the top lives there Previously worked for DR goes for shy the CEO Zuber at Uber and he moved over the line. I think is part of this deal for Uber to get rid of its own bike and scooter rental business and and essentially hand in hand. Hand the keys over to to line which was crushing Uber. Anyway Although still not necessarily a viable business Which we can get to in a second as part of that. Deal wainting This fella who been at line was made the CEO. And that's because Uber wants to keep a very close eye on its lime investment and sort of have the option to buy acquire lyme if if things work out as they they hope it will. So looked micro mobility space as we like to call. It has been pretty exciting and strange sort of industry to follow it has. There's actually a ton of debate. I hate to bring up twitter but lied to be on twitter yesterday. About what is the impact of these micro mobility firms whether it's bird or line more Lifts entrance on forcing cities to improve their infrastructure and do more like bike and scooter lanes and just kind of have a acknowledgement that there are these new forms of getting around.
"uber" Discussed on The Pitch
"They realize shit for the fourth time it's not available in New York City. They've launched twenty thirteen in Dallas. Twenty fifteen in Turkey twenty seventeen in Singapore and now twenty nineteen every two years They've expanded his Austin but philly. Let's sing your success during you think Uber would then see this as natural because you've already primed the issue with with how Uber's doing it is that they're basically taking the existing human formula and laid on top of a pet formula. So what we're seeing coming out of Austin Philadelphia and the markets are in now Nashville. Is that yeah? They're clicking Uber. Pet drivers aren't available. Drivers keep counseling. It's not a guaranteed service. They're still not finding that strike. Anybody that Uber and lift struggle to do that no to make any money. Yes of course so wait. I guess what I'm struggling out if you're thirty five bucks a ride to set and you get fifteen percent on a five bucks to you. What does that represent in revenue? Revenue is odd close to about one hundred thousand dollars a month in in in in gross ingress. So you're fifteen percent fifteen percent of that. Yeah can you move that fifteen percent twenty five? We make more money. This is our testing phase. I was just GONNA say like. Rex is a tough business Who will black not a tough business correct? And so if you're doing uber black pricing you can avoid the bottom. Fiat pricing competition for that tracks. That's a good response margins and more price sensitive specific liking it but we're going after what your customer acquisition cost if you make five bucks so currently our customer. Acquisition costs are under a dollar. Tell you why is our strategy? We've partnered up with several partners. They're bringing in over sixty five percent of our rides which is lowering our cost of customer acquisition. Google we work PETCO many vets in the city. Google and we work were servicing their pet friendly office spaces so you would get a discount on our rides for being an employee. Google my question was what percentage of this is repeat usage? This feels so make the kind of business where if you find. If you tap into those people it becomes a habit. Yeah right I mean right now. Our usage a repeat usage is close to. I'd say forty five percent wasn't use once they're hooked because they know that we have a service that is not just guarantee but we're safe. Our drivers are amazing. Bust Trust is built. Trust all right. The investors are getting passionate here which is rarely a bad thing in the pitch they just want spot on could be less like Uber. The question is can pets..
"uber" Discussed on Marketplace with Kai Ryssdal
"One company that is not worried about growth is Uber but the company at long last is starting to consider whether it should make some money. Now Uber says it will become profitable by the end of twenty twenty but not before losing in another billion dollars just like the roughly billion dollars at lost last quarter. What are the biggest drains on profitability? Is the food delivery service UBER eats. It is is growing yes but still losing money. But Uber says it's taken with eats in fact it's going to double down and streamline for some thoughts on what that looks like marketplace's Sabrina Ashore. Uber has been throwing money at overeats. They lost about six hundred million dollars in the December quarter about four hundred million. It Act two thirds of their walk came from Overeat Gene Munster as a founding partner with Luke ventures he says focusing on ubereats is still a good idea. It grew like a rocketship it was up seventy four percent which is ride in the US just to get some perspective were probably up five percent. An Uber basically has millions of captive active customers. These customers are hooked on Uber. For Rides there are sitting target for food. Delivery Services brand recognition helps to brad. Gas Worth is chief. Technology strategist strategist at Wedbush. They have the luxury of having more household name. It's already becoming a word. Used to travel raises Uber somewhere. You're not just going go somewhere. Uber is now trying to ditch. Anything that's dragging on growth for both rides and food delivery Mark Shmulik with Bernstein. If they're not number one or number two in a particular market they're either going to get out of it divested which is what we've recently seen with Uber Eats India or they're gonNA find a way to invest in that market to reach that number one or two edition Shmulik says Uber's other big strategy to become profitable is good old fashioned raising prices and taking a bigger eager cut from rides and food deliveries any company has to balance growth and prophecy says in Uber is shifting its focus to prophets in New York. I'm Sabrina sure. For Marketplace Warner Music. Group is the third largest record label in the country. A publicist artists including Ed Sheeran. Liz Oh Madonna and METALLICA. And and Warner is going public again. The label went private almost a decade ago when the industry was in pretty bad shape. But now things are looking up. Marketplace's Jasmine guards has more back in two thousand eleven. When Warner Music went private the music industry had been in a downward spiral for years CD? Sales were tanking piracy. Hi Rec- was rampant. George Howard teaches business at Berkeley College of Music. It was an abject wasteland for the recorded music industry. It was a really really really dark time what happened higher seat. Drove metallica to sue napster a platform that let people people share music without paying for it but the real change says music analyst Bob Left sets streaming services absolutely saved. The music industry certainly started with spotify spotify Apple Music Pandora and other platforms didn't take off immediately but streaming is now about seventy five. Five percent of the industry's revenue. Michael Smith teaches information technology and marketing at Carnegie Mellon. One Way to think about this is water. We've got water are found everywhere and yet people cheerfully pay a couple of bucks for a bottle of water. Because it's convenient. I can carry it around and I think exactly the same thing happened. With spotify Warner Music had revenue of one point. Two six billion dollars last quarter. Its Best Quarter in about fifteen years music. Sales are still not what they were. When CDs were king but streaming has labels feeling stable again or in the words of feeling good as hell? I'm Jasmine garst for marketplace..
"uber" Discussed on Marketplace Morning Report with David Brancaccio
"The oil price spike after. US Air strikes in Iran for marketplace. In Austin Texas. I mean you're in for David Brancaccio. The price of oil has increased sharply following what was essentially the assassination of Iranian general. Qassim Sulejmani both Brent crude and West Texas intermediate up around four percent. It's reaction to concerns that the oil supplies from the Middle East could be severely disrupted if the conflict were to escalate the BBC's Andrew Walker has more several of the world's biggest oil producer in the area that could be affected if there were a wide military confrontation involving Iran as much as a fifth of global supplies pass through the Strait of Hamas a narrow passage which wjr provides access to the Gulf Iran on its northern shore and it has poor relations with the region's biggest oil producer. Saudi Arabia disruption to the straight would affect global supplies and the mere possibility that it might happen was enough to send prices rising the BBC's Andrew Walker. Let's do the numbers the foot. The in London is down more than half if a percent the German DAX is down even more at more than one and a half percent. Dow S&P NASDAQ futures are also down one point three to one point five range. The Federal Federal Reserve Bank of Philadelphia predicts that the economy's in nine. US states will shrink in the first half of the year Margaritas Marielle. Sarah has been following this and joins me live Mariel which nine states we worried about a bunch of states on the East Coast actually so Connecticut New Jersey Delaware Pennsylvania Vermont and then also in West Virginia Kentucky Oklahoma and Montana. Okay so how did researchers come to this conclusion. They look at a lot of data on the housing zing market on unemployment on interest rates in manufacturing and they tried to make predictions and as you said the report came out of the Philadelphia Alpha Fed which is an arm of the Federal Reserve System when we talk about the Fed. We often talk about chair. Jay Powell or the Board of governors in DC but remember for the Fed is made up of twelve regional banks that among other things collect data and make these kinds of projections in this number nine states. That sounds like a lot. Yeah it is at the Fed does this particular projection monthly and this is the most states it has put in the shrinking economy column. Since the financial crisis says marketplace's Mary also thanks. Thank you. Labor unions have face tough times during the trump administration. Heading into twenty twenty. The Labor Department is expected to continue Rolling Rolling Back Obama era rules and policies that made union organizing a little bit easier. Marketplace's Mitchell Hartman. Has More labor unions finished twenty nineteen with some momentum them the U. A. W. held tough in strike against GM and the AFL cio one better labor protections in the new trade agreement with Canada and Mexico. Icho but going forward. The Labor Department's making it harder for unions to organize collect dues and fight anti union campaigns Benz Zipora Economic Policy Institute says there could be new limits on who can even be in a union. The trump administration has proposed that graduate. The student workers shouldn't be counted as employees with protected bargaining rights. The pendulum is swinging back toward employers. Says Shannon farmer at law. Firm Ballard. SPAHR MIX GONNA make it harder for union to get very quick election catch employers unprepared. which a lot of employers felt happened under the existing all last year union membership fell to ten and a half percent of the? US workforce half what it was in the early nineteen eighties. I'm Mitchell Hartman for marketplace Load Twenty twenty and to all the new marketplace investors who joined us before the end of the decade. Thank you for being part of this community of donors who believe in the importance of trustworthy independent news and information. It's your ongoing support that keeps us is going strong and helps make people smarter everywhere. Thanks again and happy New Year sometime this year. If you believe tech firms optimistic deadlines some big name. Companies are going to start to test flights of air-taxis think one of those annoying buzzing drones but big enough to carry people over the traffic below but mark plays Jack Stewart reports. That a lot will need to happen to make what's being called a new era of flight real safe and affordable if I have to drive from my house to nearby Dodger Stadium on a game night my heart sinks. It's even worse than normal. La Traffic the has to be a better way. Oh Yeah as you can see in the APP it lists Common travel time on road and also What flight times would be so it helps you? Imagine a future of how you would fly. KYLO INS is with Otis elevators. That's just one of the many companies looking at the opportunity and air taxis in this case getting people to the top of nearby tall buildings to catch a shared ride. And it's built an APP up to do it. It says the stadium is three minutes by. Let's go so he's like the dodgers stadium now. The APP will guide us from where we are currently standing over to the Elevator Bank. Doc and then it'll bring us up to where the helipad would be. I WANNA see this. Let's going in there. Are Those this report now. Taxis don't actually exist yet. So although companies like Bell Helicopter Airbus and Boeing or working on them. So I'm going old school with a helicopter. Jonathan Hartman is the disruptive technologies lead at Sikorsky. That's one of the major helicopter manufacturers and is working on this next generation of transportation. And what we're looking for into the future is how that third dimension of Mobility can help access society as congestion continues as to grow the ground. This trip over the traffic is fast and the views a great but helicopters a big loud expensive to run and restricted as to where they can fly fly inland. So they're never going to be a solution for everyone back on the ground hop and told me that the next generation of drone like at transport machines call them flying cars. If you want we'll be electric quieter and cheaper to run. I think we can start talking about solutions that that are comparable to ground transportation prices. I think we can start talking about solutions that are accessible to everyone. Experts say it's crucial to introduce any new technology like this to cities in a fair way Harrison Wolf from the World Economic Forum joins me on my flight. He focuses on aerospace and drones. We want to think through where infrastructure picture gets placed how to support these mechanisms so that those communities that have been left behind art in the future Yuba wants to be the platform for shed at transit. And it's promising atmosphere commercial service in Dallas and here in La by twenty twenty three on Jack Stewart for marketplace. Our executive producer is. Nicole childers our digital producer sir. Miguel contreras our engineer is Brian Allison. Our fellow is Erica. SODASTREAM in Austin. I'm Andy Euler with the marketplace morning report.
"uber" Discussed on Reset
"There is a problem with sexual misconduct in the GIG. Economy that this utopia of peer to peer work is not not the utopia that they've made it out to be and that this is something that needs to be addressed that these workers are vulnerable Alexandria. Ravanelli Tom is a sociologist. At the University of North Carolina Chapel Hill and the author of the Book Hustling Gig struggling and surviving in the sharing economy. In her book. She writes about how the sharing economy is an umbrella term that includes everything from craigslist and Ebay to Uber and task rabbit and the GIG economy. Konami is what happens when a person signs up to perform services for other people through an APP that means the Dog Walker who uses rover and the task rabbit who puts together right Kia furniture and the driver for Uber or lift Alexandria used interviews with economy workers to illustrate. How vulnerable these workers? Here's our because of the nature of the GIG economy itself. I asked Alexandria what she thought of Uber. Safety reporting. So so the Uber's safety report is a start About a year ago Uber said that they were going to be issuing this report in twenty nineteen and when they talked about the report in twenty eighteen they said it was going to have more than twenty different categories of sexual misconduct. Everything for Leering. All the way up to nonconsensual touching touching and nonconsensual penetration and the report that they just released only has five categories in it. They've left out the leering. They've left out the propositioning opposition in and in my research. That's the type of thing that happens. Is highly prevalent in the GIG. Economy is sexual misconduct. More likely in sort of a GIG economy job than in other workplaces we do know from some studies done a freelancers that they seem to have a very high level of sexual harassment and in part because anything sort of goes in the GIG. Economy workers have told me that it's like a jungle out. There is like the wild west there are or no protections for the workers and we also have the company's presenting this as a peer to peer environment and so- workers aren't going coming in prepared to experience sexual harassment. They're not expecting it to happen. And so when it happens and ends up being very surprising for them have you actually heard of of specific stories of this nature. So I'm doing follow up interviews right now with the workers I interviewed for Hustle and Gig. I have a task. Grab it worker. Who was hired to take photographs for somebody? They're linked in profile. Seems like a really simple job takes the photographs outside. The woman says. Oh you know what. This isn't really what I wanted. These are actually from my dating profile. Okay brings him back to her. -partment turns out. She wants boudoir photos. Oh Oh actually turns out. She wants him and then she throws herself on him and starts very much nonconsensual touching and then I have other workers offers. Who told me about being propositioned for threesomes and cooking in a client's home while the client has very loud sex in the other room room because they feel like they can have an exhibition? This type of situation you know. It's interesting because I know a lot of people who work in the restaurant industry and a lot of these stories are kind of the sound familiar to me but the difference here is that we're talking about very intimate places. We're talking about people's homes. Were talking about cars places that are outside of view. Does that play a role that absolutely plays a role when you are operating behind closed doors in a private location an anything goes you are incredibly vulnerable. And you're even more vulnerable because in the GIG economy. These workers are rated and reviewed. And so if you find find yourself in a bad situation you have to figure out a way to get out of that situation to protect yourself and also protect your reputation on that platform so the photographer talk for for instance who finds himself being touched by his client has to come up with a nice way to let her down easy so that she doesn't Ding him on the APP and so he doesn't have her calling the APP and complaining about him and he ends up being deactivated. Okay so when I have a problem at work I can go to my boss I can go to. HR A lot of these companies talk about drivers being able to sort of be their own boss. So who's responsible. Offer keeping writers and drivers safe so yes the all these platforms talk about entrepreneurship for the masses. And it's going to be fantastic and a a lot of these workers would really like an open door. HR Policy Accountability according to the platforms. The drivers are accountable and and the passengers are accountable and the platforms are not really accountable. Because they're just a marketplace and they're just bringing people together and they're not in the a car but I think that the platforms really should be held accountable for this. You know if it wasn't for Uber if it wasn't for lift we wouldn't have people stepping into the car of a stranger. We wouldn't have people allowing strangers to get into their car so what does giving protections to Uber drivers a look like does that necessarily mean in not treating them as contractors anymore. I think so I think actually that would be the easiest solution to start treating these drivers and other gig workers as W. Two employees. You know one of the things that I say in Hustling Gig is that we've seen a rolling back of generations of workplace protections through through this move to independent contractors. The GIG economy is truly a movement forward to the past. We have workers kersh. Who if they get injured on the job? They're on their own. They're not getting contributions to social security. They don't qualify for any type of paid time off. Aw family leave sick leave etc.. Essentially they're back in the same situation and their great great grandparents were in in the factories and in the slaughter houses says the image. That comes to mind so often when I'm doing this. Research is actually an image out of Upton Sinclair's the jungle where all the workers run the risk of getting getting injured and yet they're still clamoring at the gates because we've seen wage stagnation and they are desperate for additional sources of income. So where does the government's it's responsibility lion all of this. So regulations are not always the answer but some regulation is definitely the answer here definitely like you are certain that this is the way. Yes yes I do not trust the platforms to self regulate to be fair. I think that's not just the platforms. I think that we need government government to take an active role on this. We need to see More cracking down on misclassification of workers. We need to see workers being you can give in workplace protections classified his W. Two employees. We need to see more attention. Paid to how the companies are protecting their workers. The reaction to the Uber Safety report largely had to do with writers people. Were really concerned about what it means to be vulnerable person in the backseat of one of these cars. US When you look at that reaction what comes to mind if you are vulnerable as a passenger getting into the car of a stranger singer and you do that maybe once twice a day a couple of times a week. How much more vulnerable is the driver? Who has their back to the passenger and who is doing this for hours of each and every week and they are out there with you know protections the no one looking out for them what these writers have experienced some of them have experienced rape some experienced terrible sexual assaults these things? These are horrible and really serious and important. I am curious though in reading this report and seeing that both riders and drivers are experiencing some of these of these cases of sexual assault. What does it tell you about? Society that what we're focusing on specifically writers more so the drivers it tells us that these drivers are considered expendable by not just the platforms but also by some of the customers customers and that they are invisible that no one is really paying attention to the challenges that they experience because the challenges that workers workers experience in the GIG economy are huge and they are astounding and they include sexual assault and sexual harassment and involvement in criminal activity activity and physical injury and then even economic ruin if they get deactivated from these platforms after investing time or money in building a life for themselves on these platforms. You know. The the work of these workers is So dangerous and they also run the risk of getting sort of stuck in the GIG economy. Because it's difficult if you've been driving uber for four four or five years to then go back into the job market and try to get a job that will let you use your college degree in English or do something that will allow you to move into another occupation.
"uber" Discussed on Reset
"In reading. This study was the emphasis. That Uber put on It's use of background checks for drivers. It Uber seemed to suggest that their background check process was extensive sensitive. I'm wondering though if more than half of these assaults aren't being reported to law enforcement what does that tell us about the strength of the background check system system in general in the background. Check thing again. One of the things. That Uber has taken heat on for years and years and years is the fact that they don't include biometrics in their background checks. So there's no fingerprint. Option that they're that they're using no they don't do a fingerprint background checks they never have and it's something that you you know. People have been on them for years and years of trying to do in this state regulator here in California says that they don't think that the fingerprint fingerprint background check is necessary. There are a lot of people who have represented victims. In these cases disagreeing there are people on Capitol Hill who want fingerprint An Uber has chosen not to do it. The way they background check They look at a driver's driving history. And then they look into Public Records in court records to see you know no if they have any convictions And they do that on a rolling basis so they're trying to catch any kind of New Incidents that occur. And and so what. I think the work around the Uber is talking about doing for. This is sharing a list of deactivated drivers with other other. Ride hailing company so that you know if an incident is reported to them about driver they don't take it to law enforcement but they knew who that driver is they'll turn around to lift and say hey you know. We have a credible report sexual assault against this driver. You Might WanNa consider deactivating them as well and how should I think about Uber wanting to do this because my reaction to that is. Why weren't they doing this earlier? You know that's a very good question. I mean I think the history of this company and a lot of tech companies I think is just the they didn't anticipate some of the real world risks. They were introducing with their products. You know in this. This rolled out. Your option is if anything happened to you during an Uber Ride. You could leave that driver one-star that was sort of Recourse and right you know is that sufficient to protect against all of the kind of real world harms that happens when strangers together. I don't think so Okay and by the way have do any other ridesharing APPs do this. Currently no there's sharing of the driver information between the companies at this point. How does somebody hearing this? Take in the fact that there is no other report to compare this to we. We are talking about rides. We are talking about people getting in cars with people that they do not know. Is it weird that there hasn't been a safety report like this before I I think it is. We are the no one has really looked at this in a comprehensive way before. But you know I do. I do give Uber Credit for doing I think you know especially given sort of the the PR beating. They've been through in the last couple of years. I can understand looking at these numbers and being like these are not gonNa look good for us. Let's never talk about them in public. So you know the fact. They have kind of tried to focus on safety that they've put. I think you know almost two years of effort into producing this report and counting. In these cases they do get credit for that and now this is out there and creates a benchmark so and other companies. Hopefully start to come forward about these numbers. You have something to compare it to. So if I'm the person who uses Uber on a regular basis or lift how should I be thinking about this report. I I can't help but find it just really hard to sort of figure out. Should I feel safer now. Should I feel less safe. That's a good question and you know as a writer. I don't think it changes my sense of safety very much. It does give a sense to me. That Uber is at least interested. Interested in looking at this issue and trying to figure out what to do about it. But you know you also have to think about what it took in Uber's history to kind of force them to this point right right you know. There's so many of these sexual assault cases some of them very high profile Uber went through an incredibly damaging year in two thousand seventeen with a number of safety issues. And you you know it took an immense amount of public pressure and the ouster of their CEO to get them to this point where they said okay like maybe. Let's take a clear look at safety and I think that's that's an issue at Uber and throughout the tech industry again at these companies not really thinking through the real world implications of what they're doing and only looking at the cool tap you know this is also. I suspect a problem in a bunch of this sort of so called GIG economy companies. You know. I'm sure that food delivery services have this problem AIRBNB. He has safety issues all the time. Yes and I don't think that any of these companies have really started to grapple with that yet like this. I hope is the beginning of that but you know I. It's taken a very long time to get your. I'm a lot of these companies who've been around for nearly a decade at this point so that's the takeaway okay from Uber Safety reports and since its release. It's caused a stir because writers are worried about their safety but what hasn't received as much attention is what what this report means for Uber Drivers after the break. My discussion with a researcher who spent a lot of time talking to Uber Drivers about the risks. They run when they just tried to do their jobs. This is reset so I have recently started receiving a quite a few holiday cards from friends and family. 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"uber" Discussed on Slate's If Then
"Dollars in the second quarter this caps off what has been a punishing few years trooper it seems that the company has weathered every kind of scandal you'd associate with silicon valley privacy invasions sexual harassment toxic culture intellectual property violations and and fights with gig workers in two thousand seventeen a brutal year for the company cofounder travis kalanick's was finally forced out the the new book super pumped the battle for huber chronicles these back to back scandals. It's an account of the company's founding quick rise and even quicker fall and it's just a bonkers read. Some parts just seemed like a straight right up satire silicon valley but at the same time i walked away. Weirdly admiring uber's hustle with me. Now is the author of the book mike isaac who was technology reporter for the new york times uh-huh mike. This is a really really good book. <hes> thanks for joining us. Oh thanks for having me. Thank you for reading it. Yeah it was it was a great read. I wanted to i get into the title super pumped which which is in one sense this kind of <unk> term that people in the book keep throwing around <hes>. Why did you go super pumped. Yeah i needed something to really capture the vibe inside of uber at least during the reign of travis calsonic and he came up with this list of fourteen sort of maxims or rules in in the name of <hes> similar to how amazon has fourteen principles for their company and one of the big one was the level of super pumped nece that employees uber have and and <hes> part of how they used to evaluate employees when travis was c._e._o. Was i how how super pumped one was and how much zeal they brought to the job job so it's it's semi cheesy but i really think this is the stereotypical uber worker under travis that he was looking for someone who's ready to attack the day and attack their job and not super self-aware when they're doing it either. Yeah you write a pretty intimate. Profile of travis kalmyk even like described his reputation middle school. Can you talk about how you thought about portraying him the book yeah you know you know uber as you had noted we just had a gnarly twenty seventeen in most of folks intro tuber at least more recently was just scandal ridden bad company bad culture blah blah blah and i i think travis is a compelling figure to me because he has these deeper issues and some would say like problems that ended up taking him out in the end but i think he also was is just sorta sort of this tragic figure because a lot of what built uber into this enormous company is what makes travis such a compelling c._e._o. From from very young age she never accepted anything less less than winning whatever he did whether it was selling you know hundreds of knives over the summer erik cut goes like top salesman or beating all all of his friends and running up the ranks of we tennis you know and his on our so he's this guy who's a who's like a dog competitor but also i think it it belies this kind of nerdy wish to be cool and at the end of the day when he's sort of pushing this black car baller image making it rain at the club would be on say. I think it's just i think he just wants to be cool. He wants to be a cool startup founder. I don't know i think that drives a lot of <hes> how companies positions in silicon valley today i mean it seems like you almost have some measure of sympathy for him. I mean do you think he largely desert or lived up to this kind of bullying manch reputation yeah. No i mean look i think at the end of the day he was not able to scale back the assets that turned into liabilities and and you know some more mature founder or someone who was who was able to grow with the company that they were <hes> behind or that they had created i would maybe they would still be there. Maybe he would still be there if he was able to sort of change in time but i think ten years ten years long time for any sort of start up with that much capital in it to be a private company so ten years of just baggage ended up catching up with them by twenty seventeen in getting pushed out of the company. I do think i think it was important to me to make him less of a caricature that he turned out to be just in initial coverage just because like you know he's a he's a person and <hes> there's a lot of different things going on in there but like in the end like he wasn't able to sort of change in time at least you write a lot about his relationship with arianna huffington. Do you think that she was kind of sheryl sandberg presence or do you think she was more like an enabler for travis air. Janas is a fascinating character for this book. She's another person that i was trying to sort of capture. It's hard to really capture. There's been a lot of profiles written over written about her over the years and she always seems to have a leg up on what the next edge or the next thing is going to be whether whether it's you know politics or digital media ridesharing our wellness or whatever the next thing she's into and she got close to travis very early on on an ended up becoming a board member after they weren't able to get oprah to be on their board and <hes> but it worked it worked out into a pretty close friendship with travis rabat's scenario they were really tight and later on when things were hitting the fan and travis was fighting for c._e._o. Seat he didn't have that many friends left and arianna was one of his last close close friends that that really sort of believe that he could still be at the top of the company. Yeah it was struck me about the book was just how lonely this guy seemed to be <hes> like his girlfriend girlfriend and arianna. His parents were his main social life but i guess at that point. You're that's what you have to live with. You write a lot about the idea of the cult of the founder. What do you think in silicon valley learned about founders from calsonic. I think there's like there's two ways to go at this on the one hand you know we're in this sort of twenty nineteen era of tech lash right where <hes> you know post trump selection of fall of facebook at least in like less <hes> zuckerberg zuckerberg sh- sandberg's like less glamorous image in public. I folks are starting to wonder if you know maybe founder worship and sort of praising the genius purpose of of a twenty something is not the way to go anymore. Maybe we should be more conscious than how we build these companies. Maybe startup should really try to to have more foresight bill morris sort of ethical guidelines into the into their d._n._a. From the outset and that's a that's a potentially hopeful version of maybe post post twenty twenty nineteen <hes> silicon valley on the other hand. You know travis billionaire five times over <hes> who got into uber at a early point is doing very well financially and there's there's a case to be made that maybe no-one really learned whole lot and we'll see what what companies look like going after travis it's had this kind of growth at all costs approach to running uber and it made the company you really successful but at one point do you think started actively hurting the company. There's a number of parts in the book that i talk a lot about <hes> them going into different countries and i think they did a really good job early on in the united states sort of parachuting into places and and in setting up on the ground and just getting out getting uber out as fast as possible and once their whole thesis was once someone tries uber a handful of times they become a customer for life and that ended up like bearing out in the data because uber became an indispensable product for people who really connected with but i think the other part of that and this is really an indictment of technology at large as when you parachute into different parts of the world in which you have no cultural or social context for what you're doing you can really <hes> kick up some disturbing things right in in brazil in <hes> twenty sixteen. I believe it was uber was really growing. Fast in south america especially brazil <hes> they were in one of the worst economic climate so they're in the country's history unemployment was skyrocketing the introduced uber where these drivers were taking cash payments and they essentially became sort of a rolling a._t._m.'s to be robbed by burglars <hes> in the in the area and so this growth of the service in in brazil without proper checks on identity of writers ended up resulting in the deaths of more than a dozen people in the country and it was it was really a a sort of brutal and violent time for growing in places where they didn't know how how they would even operate or what the effect would be but they sort of pushed headlong and tried to keep pushing through it. Yeah another country you write a lot about is china. <hes> i mean calendar had this obsession to break into the chinese market but even the biggest companies like facebook and google have kind of failed there. I mean why did uber think they could succeed where others had i think travis in particular relies on his charm. He's very charming guy. In person like he's got the sort of boyish thing going on and an puppy dog eyes and grin whatever he wants he can sort of he has a he has a charisma that i don't think sucker or page or even maybe bezos has in real life that he seems to have down you know maybe maybe a little bit more closer to jobs in that regard that he can charm people in real life and i think he really they believe that he would be able to get close to the chinese government. He did a lot of his face time with xi jinping and officials in the party and and just like uber is a a content company that needs to have like censorship over it right. It doesn't face the same challenges that at twitter or facebook does where the party is is worried that you know sort of western. Democratic ideals are infiltrate the discourse over there and they need to censor it so his whole point was look. I don't want to be a facebook or a twitter. I just wanna provide rides in the country and so he thought that would work but <hes> ultimately it did not the chinese like tobacco.
"uber" Discussed on The Brink
"Jonathan Strickland I'm Ariel Casten. And this episode is, is one that I was eager to tackle as always aerial did the lion's share of the research, but I've talked about Uber extensively on my show, tech stuff quite a bit. Because it's one of those tech companies that manages to attract a lot of attention through both trying to be disruptive in this case disrupting the, the ride hailing services. Yes, anyone sort of the car buying market. Yeah. And then also its being disruptive in the sense that there will whole bunch of rural negative behaviors going on over at Uber for a long time. But we didn't find out about a lot of them for a while there. I mean I mean have had their struggles and talk about them. I found her always kinda came. Across a little dude, bro. A little dude, bro. Yeah, a little frat boy. This is not a meant to be a disparagement against all people who have joined fraternities or anything, but he was sort of, in that stereotypical kind of alpha, males sort of approach that can can be a benefit to business, but can also really rub people the wrong way. Yeah, one of his cultural values while he was working at Uber was always be hustling. So I feel like that gives. And you can get you can be you can respect that to some extent. I mean, the idea that you're always trying to go after the next big thing in that way. You're never complacent. But it's the way you do it that can really make or break a company or a person's reputation as as it were. And so let's talk about how Uber gut started because just the origin story itself needs a little bit of a peeling back the curtain. So the easiest story to find about the inception of Uber. Is that entrepreneurs Travis county and Garrett camp founded? Uber cab in March two thousand nine after getting the idea in two thousand eight when they were both in Paris at a tech conference because they had a hard time finding a cab or car service. Yeah. That was that was the story that was always pass around. Was that the two of them just got into a conversation about the difficulties of hailing a cab in Paris, and that led to them brainstorming up this dream of Uber. However. There are other sources that have stated that this is sort of a romanticize ation of its history that camp had actually been thinking about this kind of thing for a while. And calendar was kind of the business guy to pair up with camps tech side, Tam make it a reality. So can't started this business. You know, he bought the oil and all these other things, and then he brought callinig on as the chief incubator. So the time he wasn't the CEO. Yeah. And he wouldn't even be the first CEO and he was given ten percent of the company's shares. So he was he was owning ten percent of the company in return. He was helping kind of fund the gift sort of like an almost like an angel investment at the beginning. Yeah. And then in twenty ten Uber would hire its first official fulltime employees and they did, so through a tweet, which I think, is interesting. They're like, hey, we need for business development sorta people. Yup. This. This Ryan graves responded, and he was a starting off at a pretty low low position on the totem pole, Paul. You know, general manager for the business to that it's looked by that was me being facetious. And then before long he was essentially moved into the CEO role. Yeah. And he also got a five to ten percent share of the company as well. And then in June of two thousand ten so a year after they founded a little over a year. They launched their service in San Francisco, a pretty tech heavy place. Right. Silicon Valley area and the initial version of Uber was a black car service like towncar service yet. Need order via text? Yeah. So you weren't you weren't jumping in the back of someone's hybrid vehicle. That would come later. It was more like an alternative to a limo service or a towncar service and not. They weren't even really thinking it as ridesharing that would become a term that Uber would use and other people would use to describe Uber. I've always maintained that it's misleading. I think of it as more of a ride hailing. So if you're trying over pool. That's more of a ride sharing their, their carpool service came up with later on. Yeah. That is one hundred percent ridesharing. But in this case, they're black car service took off, really. Well, I mean, it was more expensive than a cab people liked the convenience. So by October of two thousand ten they had one point two five million dollars funding. Yup. Though, just be the beginning of many rounds of investment that would boost Uber's company valuation. We'll talk, we'll talk about pretty impressive on a little later, their value in their profits. Do not match up which is really interesting to me. But we've seen that before in other episodes. We've covered of some companies have received an truly enormous value. Nation without having yet proven. They can generate a profit. Yeah. Well, this is the first tiny little speed bump that were hits because they were forced to change your name from Uber cab to Uber when they got cease and desist. Request from the San Francisco transportation regulators, because Uber cab made them sound like a taxi service, and they weren't following taxi regulations. It was kind of unfair to taxi drivers. In fact, this is an argument that taxi drivers have made in numerous markets, where Uber has moved in saying, it isn't fair because they're competing directly against us, but they don't have to follow the same rules we have to follow well in a lot of cities, do take that into account. For instance that at our airport in Atlanta. Uber drivers can't or at least for a while. Couldn't be in the taxi lane. They have you have to walk way down the way to get an Uber. You can get dropped off for a while. It was that you could only be dropped off at the airport. Now you can be dropped off and picked up as aerial mentions. You have to. Oh, it's a heck of a whale into a parking lot and a lot of drivers. Don't know where to go, but getting back to the history here, so at twenty ten at the end of that year, ryen grades would step down, and he would stay on with Uber, but he would no longer be CEO and calendar would actually move into the CEO role. Yes. So he went from chief incubator. Chief egg upper now operator. That's let's say oh means so what happens next. Well in February of two thousand eleven they get more funding eleven million dollars worth and that bumped their valuation up to sixty million dollars. So still not anywhere. Close to unicorn status but don't worry. We'll get there day will I and they expanded into New York. Yeah. Which really is entrenched with taxicabs. So that went over real well, yeah, it's, it's something they're still dealing with. But they do still operate in the city, in fact, lift and the and. Both operate within New York City. And, and we'll talk more about kind of the, the differentiator is, I think a little bit later because I've got some things to say about it positive things in general, not really for a bull save that for save it for later. So in December of two thousand eleven they started to expand internationally and they got more funding, yet another thirty two million bucks. Goodness gracious. And this is about the time that Lubar decided they needed to start doing some goodwill initiatives, and they did this over the next several years. And I believe they're still doing it. So things like clothing drives, and animal shelter support. They did they did one effort where they would bring kittens that needed adoption to various locations for people to pet and adopt. And then they do things like bring meals to the needy and provide jobs for military personnel. So a lot of military personnel started driving for Uber. As a way of extra income, and then in two thousand fifteen just. Jump ahead a little bit because it's pretty cool. They gave women free rides to vote in Saudi Arabia, the year that women could vote. And so, you know, you could argue that this Uber either like if you're being an optimist you're saying, this is Uber saying, let's make a positive difference in the world. If you're being a pessimist you're saying we're facing a lot of resistance in new markets. So if we prove that, we're a company that does good things, that'll help pave the way. It's probably a little bit of both because you do have to have that, that business sense are it. So twenty twelve then that's when they added a lower cost option to the standard. Uber option, which was called Uber x and this was one where you're getting essentially the driver's car writing the drivers, don't have to go out and buy or lease a towncar. Now they can drive their own vehicle as long as it mates. Uber's corporate standards. Yes. And so as less expensive and also Uber's big competitor lift launched that year, and that's, that's a whole nother can of worms. We won't super get into because we just don't have the time. But in doing the research, I was really surprised at both lift and Uber's sort of attitude towards each other. They would truly Chatters know they, they had scorched earth tactics against where where. They would have there were documented cases of the employee's of one company using the opposing companies service to call up a ride, and they handle it, which would take up a lot of the drivers time that they could be using giving people, right? And you might be hurting the other company doing that. You're more hurting your fellow man yet. There were. No. There were a lot of the realize story time about about some pretty underhanded behavior on both sides in calendar outright admitted to try to foil, lift getting funding, so, yeah, the no, it got super ugly and twenty thirteen. They got a big boost in funding from Google ventures that invested two hundred fifty eight million dollars in the company that Norma some, which then made the valuation skyrocket to three point seven six billion dollars. And I got a unicorn on your hands. Yep. And then they got into some trouble with the way they were trying to classify their drivers. Yeah. They had two different suits. At least from what I read of drivers who thought they should be labeled employees. Not contractors. Yeah. The this was a huge issue. Uber's entire business structure was on just having all of these contractors working for them. And if these settlements went through, then they'd have to pay health benefits and all this other stuff, they weren't set up to build this, this issue only recently got resolved, and only kind of resolved in two thousand nineteen they finally made their settlement. They tried to make one in two thousand sixteen in the judge denied it, but in two thousand nineteen they settled where drivers between two thousand nine in February two thousand.
"uber" Discussed on Equity
"Even it's not quite Uber scale money. And I think that's pointing out. And then I I was pulling numbers. Uber. Had I think it was. Yes, they had seven point nine billion of Uber eats gross bookings for the year ended December thirty one twenty eighteen and two point six billion of that came in the fourth quarter. And that's a lot of burritos. But it's an impressive stocks. That shows Google has a second business that will do over ten billion in total from spend next this year. That's huge. Yeah. I mean, I got I imagined that was part of their big pitch to investors in this sort of run up to the IPO since the growth they're having outside of ride hailing. Yeah, here's a question though. And I haven't actually figured out the answer. This may be done question. But we point out that Uber's kind of net revenue slow to a crawl from Q three to q four presumably, you know, ubereats grew quite a lot. We know it's two point six billion out of seven point nine. In Q four does. I mean that right. Haley may have actually shrunk in Q four compared to Q three like a sequential decline. I I'm gonna look at the numbers and decline in revenues in booking sequential decline in net revenue from ride hailing in particular because revenue was essentially flat. Uber eats went up materially. And that means that right? Helen play when I mean, it's it's highly possible. But you have to look at all the other businesses that running within like where they're spending going at Thomas vehicles, fry like, I I don't know. But that's possible. I would say leaning toward unlikely moving toward likely. Okay. Well, our petitions tend to be wrong on the show. So I'm going to go the Cates view of that one. 'cause I'm over my skis a little bit. But can you tell us about Corinne? Yeah. So we thought this was interesting. It does take note in the s one that there's a possibility that Hoover's acquisition of Kareem will not close. This is however in the risk factor summary, which is the part of the one where the company basically is like here's all the reasons why we might fail. And why we really suck. But like actually these are all extremely unlikely scenarios. So Uber's acquisition of cream is in the process of closing right now. But I think they have to be clear that you know, they don't they can't see the future. So there's a possibility at won't close and in which case that would stunt Uber's growth because Uber acquired corium in a deal that was just essentially purchasing growth in the Middle Eastern market where they don't operate a right healing business at all. I mean, Uber really was have exposure to the entire world, and they are not gonna stop until they have. I mean, they wanna be a world dominating company. They wanted to lead the world and ride hailing either through minority stakes majority stakes or their own business itself. It's still very cautious. And I think I won't talk about adjusted losses really quick. And then we're gonna talk about complexity, and then we're gonna leave you alone. That's the plan for this show. So if you are following along at home role with me to page ninety in your S one document, and if you're still scrolling that's because I am too. Welcome to live taping in the bottom of that page..
"uber" Discussed on Equity
"I mean, these companies have locked up so much equity in debt. I mean, they know this is a conic brand and people are the retail by these shares it'll go public, and whether the valuation is twenty percent less than they hope it doesn't matter at the end of the day. And also, you know, I think everyone's saying, well, what's the stronger company, but. Mean in many ways, you could argue that lift is the better investment. I mean, Uber is going to be so richly priced when it goes out, presumably, even if it's anywhere close to what bankers are talking about reportedly, which is one hundred and twenty billion dollar valuation, which is like basically twenty two times where it's was last price, privately you if you've got a fifteen billion dollar company. I mean, I saw today some report that said it could potentially come out like thirty million. But I mean, excuse me thirty billion. But even there you sort of feel like you've got more, you know, upside deride, but also taking your head wiped sorry. Sorry is the physical 2014 price. You're putting on a two thousand eighteen company. I feel like people that are a little bit are a little bit more sober. Now. I think the the hangover has come a little bit and people want to see stronger companies do well, I mean, if I've been tracking the the cloud and SaaS Uber's or one hundred and twenty billion dollar number thirty billion dollar number. These are two valuations on valuations that are already predicated on growth. So if you've already priced in the growth how much more growth can you price in when the company's more mature angle and public when asked me more cost control to your point about Bill girls point. Well, yeah, it's a good point an Uber at least as sort of diversifying a little bit. You know, it's got its non ride hailing revenue. Streams lift hasn't really developed. Those yet hasn't am. I wrong. They don't have sort of like not as much as Uber Uber. Uber eats business is like a huge moneymaker for them. It's crazy huge gross like gross line. On top line is. Yeah. You know, step since we're on equity, though, stepping back in interesting for me going into the eleventh year of the bull run does that sound about right? Can you make money going to Bill? Can we make money on number two right lift lift was felt as before the calendar issues. The common view was it was an after an afterthought, right and whatever lift prices at what's the low. What's our theoretical low end of pricing? How many billions is lift going to be worth nine nine billion? Okay. So if I got in at say six pre six million pre this is still a good investment and number two. And this change a lot of my thinking when I was eleven years in and the number twos and the number threes in the market are actually turned out to be pretty darn good equity investments and common sense in the past. Was look a power laws and all that you can't make any money unless it's number one. But people are going to find on left, aren't they wherever it comes out. Sorry. No, no, no. I was just going to say I mean, I definitely think there was a story in the information that said it hadn't really benefited that much from Uber's messed up. But I think that it has I think it's got something like AB thirty percent market share and. You know, he's got the rest, but that's substantial. And it's you know, it's also sort of. I mean, it's got a great reputation. It's a beloved brand, you know, maybe it's sort of. Let's uber. You know break it's pick by trying to you know, for across the road too quickly. And meanwhile, it's doing a better job of catering to its customers here in the us and Canada. I don't really know. But it's definitely got you know. There's reason to sort of I think believe in the brand I think the one let's move onto the next bit. But like, I was Uber. Shamed. Yesterday for taking Uber by a friend of mine who's very woke still. Still the neighbor to. Yeah. To be very loyal to lift for because of Travis county..
"uber" Discussed on The Dan Le Batard Show with Stugotz
"No friendly likes conversation or something like that in their bio and someone puts that and then you choose things why do you prefer not to I prefer to hop. My perfect Uber or lift experience is I hop in. We don't say a word. I hop out. Wow. Do you tip them? Yeah. How much I used to not initially because that was the whole thing about about Uber. And lift you didn't. Well, Uber initially. This is amazing and then lift came along and lift was like the first sharing app words like, hey, please step guys important announcement. I'm a five star on Uber. How about that? That's incredible. You really five star ROY. Yep. I'm really bad. Look, there's ROY five-star guys. Don't drink that water that they offer right? No, no. I do sometimes man there. Sometimes fig writing about what you're doing. Sometimes when you need a new Bor lift the bottle of water is pretty close more likely to tip Uber eats because they're actually getting out of the car walking up. Me. No, see. I don't trust. I don't know. I just don't trust people with my food. Really? Yeah. No. I don't want people with my food. I limit their tip because I'm doing the work. I'm walking to the car. Oh, you walk. They come. They went to the restaurant and got the food for you. Yeah. I understand. But see I saved myself a dollar if I'm the one that goes out to the car and picks up the food, and I say, no, please don't get out by charging you an extra five dollars. Where's that five dollars going? It's being split between Uber eats the company and them who fifty if I'm sleeping on the whole situation, and they knock on the door and deliver my food to me that's on me. And they get the full tip. But they do this thing Billy where they tie the bag really tight makes it seem like we definitely didn't touch your food because it's tied. Let's bag is double nod. It I don't think I would ever try, and I know someone that helped launch Uber eats. And I don't think it would ever try. I like twice a week. I have a terrible Uber rating. What is it like to? How is it? If you're not talking to them. Yeah. Well, what do you do? Well, all often. I'm ordering an Uber for a large group. I've been in those who've been my rating is the one that suffers. Six two that's bad collateral damage there. What is your four point eight seven? Well, the point one three probably comes from. I've done that as well. Where a group of us getting into an Uber. Why is it that it's always someone else's fault? That if I mean, you're you live really a sheltered life a lot of people get out there and have fun. And when they have a long night, you get into a car, and you're having phone with your friends your louder than you, probably should be some over jarver's like enjoy those type arise, but you could tell sometimes the Uber drivers just like this is the worst because you guys ever get like the Uber. That's like a like a club, basically like all the lights and the props and all that. Yeah. I don't like that either. No. I'm the same guy that will give you five SARS. If you don't talk to me. So please don't give me your karaoke machine. When I was in Portland. This dude had a Twitter account and Instagram account for this journal that he kept in the car, and you could write whatever you want in the journal live super lamb. Wait. What like basically like what you do like, weddings where you guy in. No. He's like, whatever comes to mind. Just put it in. What does he do with that? And then he had like a Jack in the box in the cart was kind of weird. Wait does he have like a bookshelf that he keeps a log of his writers? That would be good like if you're like accused of murder, that's like a good alibi. Like, no, look, I signed the Uber car..
"uber" Discussed on GSMC Technology Podcast
"They see a big. Auto dealer, maybe Toyota making a deal with Uber. So when they do come out with their own self driving cars, they're all going to be Toyotas. I guess maybe they're all going to be Toyotas, and it was so in the order Uber and is a self driving over. So you just get in and it takes you whisks you away. It'll be a Toyota, I guess, as just would you rather get an Uber self-driving Uber, or would you rather get into Buber driven by somebody else like tomorrow or tomorrow it'd be can still in a year or two, it's still is going to be kind of weird. I think as we have all these things that have happened to negatively when it comes to self driving cars, and now you're gonna put it into ride sharing or put it on Uber to create these self-driving cars and then take away more jobs than people that they gave them to visually. That's they're all things the side side-hustle. It's the, it's the make the money. It's their whole slogan with Uber. That's their whole gimmick as extra money. Bureau boss is the kind of thing, except Hoover is the boss. I feel. There's no person calling you or telling you what to do or being in your ear or or holding a late or something like that. So you make your own hours that's very well known, but still there's, there's still things that can happen where you can be affected by the company that you do work for you, you're, you're, you're, you're sending Uber. You have their stick around the car using their Appier. You're presenting them as a person today. Can provide give you rides. So yes, you have a reputation to uphold, but then again, they also could change in effect you your own ways of doing your own things. And if they do venture down the road further, no pun intended again. But still it's funny. Down the road. I'll say it again. When we get to the self-driving cars, they're just going to be taken away that opportunity for people to make their side has solar either own boss. It's all going to go away secured Izzo, but we're trying to develop you out. Obviously, it's going to take a while. It's going to take its time, which is why nobody really cares. Nobody really like, oh my God that got in for my my Uber job ready like Uber is already trying to eliminate us, which I mean they in fact are, but they know that it's going to be a while when they're not really rushing towards doing that whatsoever, they wanna be able to get there trying to grow their base, I think, still and get more and more people using. Their own cars to ride share and help people. Honestly, there's multiple reasons why worked actually it's big enough for it's also a big enough market for two companies lift has gotten right up there. I mean, you can check. I mean, I think Uber probably does have them out if you are just talking about brass tacks and finance overpowers earned more than them, but. I always checked and Uber to see who is cheaper it. Usually the prices are very similar, but there is a bit of a disparity and one will be cheaper than the other. It's not always the same. One lived is not always cheaper than always. It goes back and forth, and it's good to have a competition that you want to in a market like that where you're right sharing. It's crazy how many people use it, whether it's let's or over whatever they call they call. I've heard people say they're going to get elect and they get an Uber and they've heard people say they're going to get over and they get a lift. So it's all the same kind of thing. The fact they're both four letters and very clever, you know that people who created these companies and marketed at all, or are smart cookies, and they know what they're doing..
"uber" Discussed on Exponent
"Thought that uber has is terrible culture like of course they have a terrible culture because you have a bunch of people were stuck together don't want to be there and and and feel bitter in that just breeds resentment breathe bitterness so just just a clever that point but as other points like i mentioned a central part of this lawsuit is this the softball waymo in ice though the time that the way mawassa was fired against uber that i predicted like this is gonna be was actually takes quranic down and and this lawsuit benchmark seems to validate that just because clearly the toxic culture is the fault of the co but it's one of those things that is from me we goal and sort of finance perspective like how do you actually prove out that line such safe entry moves on from their job whereas spending six or eighty million dollars fraudulently that's like a far cleaner in clear away to like get someone out of a job bean so that was that was the reason and but one would a public would with the public market tolerate uber going into selfdriving car for example which i've maintained i think it's a bad idea i think it's dumb idea farther away levelfive driving cars are far the way than people think one two all bird controls demand controls the people and ought to partner with all these companies that are heavily incentivized to build these systems such that when they come online uber to sits on top of all of them bike i've i've argued that for ages and three to think that uber has it within them in the middle everything else were fighting a global war to fort for the fort for tech's texture that they can take on freaking google like it's stupid like why would you fight google on goals territory india i've i've won maintain i think the whole thing makes no strategic sense that uber is not good at strategy and guess what.