rideshare drivers

Rideshare rebound: Breaking down Uber’s and Lyft’s big Q3

Uber and Lyft earnings analysis strong quarter of profitability for rideshare companies

In 2019, a pair of financially unproven but promising rideshare companies debuted two of the largest public offerings of the decade, just two weeks apart from each other –– and they let just about everyone down.

At the time, assessments of Uber’s and Lyft’s IPOs ranged from “modest” to outright “bleak” as the rivals failed to live up to the lofty expectations they had set for themselves. People had questions about the companies, and rightfully so. In the calendar year leading up to its IPO, Uber

https://www.freightwaves.com/news/rideshare-rebound-breaking-down-ubers-and-lyfts-big-q3

3 Canadian drivers claim dismissal for following Uber’s COVID guidelines

3 uber drivers claim they were fired gig economy rideshare

Three Uber drivers in Richmond, British Columbia, Canada, claim they were fired for adhering to the company’s COVID-19 safety guidelines, several sources reported Sunday. The drivers reportedly were laid off after refusing to serve customers who threatened violence or bad reviews when told to put on a mask.

“I bought a new car, borrowed money from my friend and planned to start studying for my future, but my livelihood was stolen from me,” explained driver Bhupinder Singh in a statement from UFCW...

https://www.freightwaves.com/news/3-canadian-drivers-claim-dismissal-for-following-ubers-covid-guidelines

What would a vehicle mileage tax mean for ride-share?

What would a vehicle miles travelled (VMT) tax mean for ride-share?

Support it or oppose it, the federal excise tax on gasoline, more commonly referred to as the gas tax, isn’t getting it done. 

The U.S. government hasn’t raised the federal tax rate of 18.4 cents per gallon since 1993, and since 2008, policymakers have been drawing from nontransportation funds like the general fund to pay for transportation infrastructure because the gas tax simply isn’t bringing in enough money. Just last week, the Highway Trust Fund, which supports road construction and mass...

https://www.freightwaves.com/news/what-would-a-vehicle-mileage-tax-mean-for-ride-share

The best companion apps for rideshare drivers, according to rideshare drivers

The best rideshare companion apps for Uber and Lyft drivers

What’s a road trip without a little company? You could argue that rideshare drivers almost always have company on their trips — their passengers — but, well, they aren’t always the best company. However, another breed of passenger will always have drivers’ backs.

Companion apps have long been a rideshare driver’s best friend. But with the sea of rideshare apps flooding the app store these days, it can be difficult to pick the right co-pilot. Modern Shipper polled the Uber/Lyft Drivers Facebook...

https://www.freightwaves.com/news/the-best-companion-apps-for-rideshare-drivers-according-to-rideshare-drivers

EVs for all: What Biden’s executive order means for gig economy

President Biden executive order EVs electric vehicles 2030 zero emissions gig workers uber lyft

President Biden on Thursday announced an ambitious new goal for the automobile industry – for EVs to make up half of all U.S. vehicle sales by 2030. The president signed an executive order declaring the nonlegally binding milestone a priority, while also proposing new vehicle emission standards to cut pollution by 2026.

But what does this mean for the gig economy, much of which is composed of rideshare companies and drivers? It could spell trouble.

Automakers Ford Motor Co., General Motors Co....

https://www.freightwaves.com/news/evs-for-all-what-bidens-executive-order-means-for-gig-economy

Uber, Lyft and others face a reckoning

uber lyft instacart gig workers prop 22 ab5 classification

About two weeks ago, thousands of people across the United States took to the streets in protest, hoisting signs with damning statements like “Driving us into poverty” or “32 cents a mile is not enough.” In cities from Los Angeles to Boston, the masses clamored to be heard, tensions flared and the streets seemed suspiciously devoid of ridesharing vehicles.

The protests could be more accurately described as a strike against the ridesharing industry’s titans, Uber (NYSE: UBER) and Lyft (NASDAQ:...

https://www.freightwaves.com/news/uber-lyft-and-others-face-a-reckoning

With lives on the line, ADT offers help for gig drivers, passengers

ADT creates free apps to help rideshare drivers reach emergency personnel

Rideshare and delivery drivers hustle to make money, but it can come at a cost – and it could be their lives. For most on-demand drivers, the person or people they are picking up, or the address they are delivering to, are unknowns. They don’t know if that person has a criminal history that could put their lives in jeopardy or if the situation they are about to drive into for that food delivery is safe.

But they do it anyway. And for some, these situations are real. The headlines tell the...

https://www.freightwaves.com/news/with-lives-on-the-line-adt-offers-help-for-gig-drivers-passengers

How rideshare drivers can hit financial home runs in a time of need

Last week, residents of New York City were provided a new option for getting around with the launch of Drivers Cooperative, a driver-owned rideshare service.

The company is not the first rideshare service to take on the big two of Lyft (NASDAQ: LYFT) and Uber (NYSE: UBER), and it likely won’t be the last. The Drivers Cooperative promises to take a smaller commission from fares than either Lyft or Uber, offer lower rates for riders and ensure drivers make more money.

In 2019, another rideshare...

https://www.freightwaves.com/news/how-rideshare-drivers-can-hit-financial-home-runs-in-a-time-of-need

Mizuho: Little chance of federal gig worker regulation

While Uber (NYSE: UBER), Lyft (NASDAQ: LYFT), DoorDash (NYSE: DASH) and Grubhub (NYSE: GRUB) have significant exposure to potentially dramatic regulatory changes to the employment classification of the drivers critical to their operations, Mizuho Securities USA is not ready to issue a sell rating on the companies just yet.

In fact, the investment house, part of Japan-based Mizuho Securities, a wholly owned subsidiary of Mizuho Financial Group, believes there is upside to Uber and Dash and little...

https://www.freightwaves.com/news/mizuho-little-chance-of-federal-gig-worker-regulation

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