uber - Tech News from Simmons Systems (Page 6)

Tech News from Simmons Systems

uber

A collection of 146 posts

Uber Shifts Focus to Profitability as Third Quarter Losses Top $1 Billion

Uber beats quarterly revenue expectations but reports a $1.16 billion net loss, prompting CEO Dara Khosrowshahi to prioritize efficiency over rapid growth. The company now targets adjusted EBITDA profitability for 2021.

Uber Launches Uber Money Team Amid Fintech Investment Boom

Uber introduces its new Uber Money team to develop financial products for drivers, signaling larger fintech ambitions as venture capital pours billions into the sector.

Lyft Drops Pricey Subscription For Budget-Friendly Lyft Pink

Lyft replaces its unpopular $299 All-Access plan with a new $19.99 monthly subscription called Lyft Pink. The cheaper membership offers percentage-based ride discounts and bonus perks instead of a set number of free trips.

Uber, Lyft, and DoorDash Fund Ballot Initiative to Protect Contractor Status

Major gig economy companies back a 2020 ballot measure to override California's AB-5 and keep drivers as independent contractors. The initiative offers new wage guarantees and benefits while maintaining flexible work schedules.

GV CEO Reveals $5 Billion Invested and Hints at Full Uber Exit

GV CEO David Krane reveals the Alphabet venture arm has invested $5 billion over the last decade and hints that the firm might sell its remaining Uber shares when the lock-up period ends in November.

Salesforce Founder Benioff Warns Startups Stay Private Too Long

Marc Benioff argues that delayed IPOs allow bad governance to fester at private companies like WeWork and Uber. He also calls for a national privacy law and declares that traditional capitalism is dead.

California Passes Landmark Gig Worker Protection Bill AB-5

California officially enacts AB-5, a sweeping law that requires companies like Uber and Lyft to classify gig workers as employees rather than independent contractors. Ride-hailing giants are already pushing back and exploring a 2020 ballot initiative to overturn the legislation.

California Landmark Law Forces Gig Companies to Reclassify Workers

California's governor signs AB5, a groundbreaking law that requires gig economy companies like Uber and Lyft to treat their workers as employees rather than independent contractors.

Uber Surveys Drivers About Small Loans Amid Fintech Hiring Spree

Uber is exploring a new financial product for drivers, sending in-app surveys about small loans under $1,000. This move follows a recent hiring spree of over 100 fintech workers in New York.

Apple Confirms September 10 Event as Uber and Lyft Fight California Labor Law

Apple sends out official invites for its September 10 event where it reveals three new iPhone models. Meanwhile, ride-sharing giants Uber and Lyft pledge a combined $60 million to keep their drivers classified as independent contractors.

Uber and Lyft Fund $60 Million Ballot Initiative to Preserve Driver Contractor Status

Uber and Lyft each commit $30 million to a 2020 ballot initiative aimed at keeping California drivers as independent contractors in response to Assembly Bill 5.

artificial intelligence

Hidden Dangers Lurk Inside Morally Neutral AI Systems

Artificial intelligence is making high-stakes decisions about hiring, loans, and criminal justice, yet developers often overlook the ethical consequences embedded in their code. Profit motives and subtle technical trade-offs create real-world risks that the public rarely sees until it is too late.

Uber Promotes Privacy Features Amid New Safety Fee Controversy

Uber attempts to reassure riders about privacy following a damning book excerpt that reveals the company misled customers about a safety fee. The email blast highlights hidden phone numbers and locations, though Uber denies any connection to the recent negative press.

Postmates Prepares to Go Public Amid Fierce Food Delivery Competition

Postmates plans to release its IPO paperwork in September, aiming for a stock market debut by the end of the third quarter. The delivery company moves forward with its public offering despite ongoing industry consolidation and fierce competition from Uber and DoorDash.

Uber Posts Record $5.2 Billion Loss as Growth Slows

Uber reports a massive $5.2 billion second-quarter loss, its largest ever, while revenue growth slows to just 14 percent. The disappointing earnings cause the company's stock to plummet more than 11 percent.