Uber's stock falling because it's treating drivers as employees

[JSOP]

Sometimes you really don't get rewarded for doing the right thing, unfortunately.

https://www.jioforme.com/opinion-ub...mployees-and-stock-prices-are-falling/403367/

*cough*Robots people, robots!!!

 

[Saltynuts]

I've not studied it, but those California (maybe other jurisdictions) decision(s) that Uber drivers are employees sound dumb as hell. As I understand it Uber drivers typically drive their own car and take whatever passengers whenever they want, and don't have to take any passangers if they choose not to. Hallmarks of an independent contractor relationship if there ever were some. Maybe other factors, but just sounds like more California reaching for $$$.

JSOP, are robots replacing people in the workforce a real concern in your opinion? If so, is that concern a now thing, a near future thing, or a far future thing?

 

[Overnight]

All Uber and Lyft are, are smartphone apps, with a shitload of backend software. How are they losing hundreds of millions of dollars per year?

 

[JSOP]

JSOP, are robots replacing people in the workforce a real concern in your opinion? If so, is that concern a now thing, a near future thing, or a far future thing?

No it's not a concern to me. Eventually all of us, and I do mean ALL of us even including the people in jobs that involve creative processes and original thinking like artists, actors, designers and etc. will be replaced by robots. How we need to do is make sure how to manage it to always benefit us. That's it. The more robots, the higher productivity, the higher wealth for all.

 

[NoahA]

The more robots, the higher productivity, the higher wealth for all.

I will take the opposite side of this trade.

It should be fairly obvious by now that trickle down economics doesn't work and the income and wealth inequality just keeps getting worse. More robots will not make it any better.

 

[maxinger]

Uber's stock falling because it's treating drivers as
(cherished or disposable/pest) employees

 

[JSOP]

I will take the opposite side of this trade.

It should be fairly obvious by now that trickle down economics doesn't work and the income and wealth inequality just keeps getting worse. More robots will not make it any better.

Think further and further ahead to a time where robots take over and do everything and the productivity is so high that everything costs 1 cent and everybody gets checks from the government forever. There is nothing to trickle down, everything is already down!

 

[oraclewizard77]

All Uber and Lyft are, are smartphone apps, with a shitload of backend software. How are they losing hundreds of millions of dollars per year?

Poor management. Wasted $ billions on stupid ideas instead of focusing on core business. Started off over paying for drivers, then kept cutting their pay so people caught on and quit. Many of these service type business are not set up to perform a luxury service that should be tipped for since you can take an Uber to a bar instead of a bus. From watching some youtube videos, I saw some drivers that did work 50 hours a week, and were deactivated due to some drunk customers making complaints for example of not wanted to wear masks. So they are losing people who are willing to do the work and not enough new people are falling for their tricks.

 

[newwurldmn]

All Uber and Lyft are, are smartphone apps, with a shitload of backend software. How are they losing hundreds of millions of dollars per year?

all reinvested into growing, self driving, other business models.

the goal is world domination. It’s the Amazon playbook.

 

[JSOP]

the goal is world domination. It’s the Amazon playbook.

It's the CCP playbook.