Deliveroo Tacitly Admits That Its Business Model Relies on a Lack of Workers’ Rights

Referring to existing legal challenges over workers’ rights in Italy, Australia, Spain, and the Netherlands, the company said:

If government agencies in other jurisdictions were to implement similar industry-wide changes to gig economy and/or food delivery worker status without distinguishing between operating models, this could have a material impact on our business. Deliveroo goes on to say that “if we were required to make changes to the basis on which we engage riders across a number of our markets, or in our key markets, this could affect our ability to continue operating in those markets or require material changes to our model.” This is an admission to investors that the shares they are buying could be compromised by Deliveroo having to give its riders employment protections.

eaterlondon 🤮Wtf ?

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British food delivery firm Deliveroo slides 30% in market debutShares of British food delivery start-up Deliveroo sank in its stock market debut Wednesday, as the company faces pressure from top investors and trade unions over workers' rights. I wouldn't buy this stock but praise these saints who will grudgingly bring you deep-fried halloumi on their sweaty bikes when you're too drunk to walk down the street. $ROO Deliveroo=Tchnology? Lächerlich! Sklavenbetrieb! Nach Covid ist Ende der Fahnenstange! Milliarden werden vernichtet mit Deliveroo! WallStreet 'advisers' and mass media: CNBC, Bloomberg have to be very proud for luring clueless retail 'investors' into the biggest StockMarket BUBBLE in history! This is what they are paid for by big corporations - turning retail investors into bagholders!
Source: CNBC - 🏆 12. / 72 Read more »