Drivers Lead Protests Ahead of Uber IPO

Drivers and their supporters protest Wednesday against Uber and other app-based ride-hailing companies near the Wall Street Charging Bull in lower Manhattan. Photo: Drew Angerer/Getty Images By Kristin Broughton Updated May 8, 2019 5:44 p.m. ET Drivers for ride-sharing companies protested Wednesday, saying companies such as Uber Technologies Inc. and Lyft Inc. have failed to pay drivers a living wage.

To investors, the protests were an embodiment of risk factors described in Uber’s initial public offering filing. Chief among them: its reputation, particularly as it relates to drivers. The company risks losing drivers or customers if its image takes additional hits, it said in its filing. “Drivers are at the heart of our service—we can’t succeed without them—and thousands of people come into work at Uber every day focused on how to make their experience better, on and off the road,” an Uber spokesman said in a statement. He added that driver benefits include insurance protections and educational benefits.

Newsletter Sign-up Uber’s main U.S. competitor, Lyft, which began trading on the Nasdaq Stock Market last month, told investors in its prospectus that perception surrounding its treatment of employees is a risk to the company. And so are negative perceptions related to the ride-sharing industry as a whole, the company said in the filing.

The protests across New York, organized by groups such as the New York Taxi Workers Alliance and the Independent Drivers Guild—which scheduled a procession of Uber and Lyft vehicles over the Brooklyn Bridge—were promoted on social media with hashtags such as #StrikeUberLyft, #LyftStrike and #UberShutDown.

People in the gig Economy are shortening their life span.

GOD BLESSING WILLIAM DMING EDWARDS, QUALITY'S TOTAL FATHER, HE CAME IN VENEZUELA IN MAY 1989, HE WAS A GREAT CONSULTANT STATAL OIL PDVSA ,HE MAD THE CONSTITUTION AND LAW YEAR 1999.HUGO CHAVEZ FORMER PRESIDENT STUDIED HIM IN MASTERDEGREE POLITOLOGY IN UNV

That’s odd. I have to think about this.

Cry me a river..... I like driving for Uber. These striking drivers are GREEDY

What will happen when driverless cars hit the road? We need a solution for this:

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Uber drivers to strike over pay and benefits ahead of the company’s $90 billion IPODrivers argue the road to both companies’ IPOs has been paved by workers who Uber and Lyft have insisted for years are merely contractors. MUNICIPALWASTE Stop driving for Uber, Just another corperation getting rich off poorer desperate working class. Hell they didn't even have to buy equipment to run the company, Your car, your phone... OK....strike away and have a good day...oops, an enjoy your cut in pay!!!
Source: NBCNews - 🏆 10. / 86 Read more »

Uber, Lyft drivers plan to strike ahead of Uber’s IPODrivers are calling for better job security, a livable income and a cap on the ride-hailing companies’ commission. Unfortunately it doesn't matter, they will lose their jobs to automation eventually anyways. This is why we need UBI.
Source: washingtonpost - 🏆 95. / 72 Read more »

Uber drivers set to protest around the world ahead of the company's $90 billion IPODrivers are also expected to stage protests against Uber and Lyft in at least eight cities around the U.S., including New York, Chicago and San Francisco. Never go back to work! Fucking end Uber and lyft Uber SaudiArabia MBS BAD IPO Uber everything goes to hell when it goes to scale. Welcome to the bell curve.
Source: CNBC - 🏆 12. / 72 Read more »