Uber drivers taking to the streets - in protest Uber driverson Tuesdaywill join fast-food workers, airport employees and home-care aides todemand a $15-per-hourminimum wage. Uber drivers are considered contractors rather than employees, so they aren’t entitled to overtime pay or sick leave. Drivers in some cities say Uber’s aggressive fare cuts make it even harder to get by.(CNN)
Uber faces judgment in the E.U. in coming months Uber is awaiting the decision of 15 E.U. judges, who will decide whether the ride service is an app or a transportation company. Uber has maintained that it's strictly an app, but if the court rules against it, the company couldface stricter regulations.(Bloomberg)
DMV to Uber: Not so fast with the self-driving cars Uber wanted to launch its self-driving car service to passengers in its hometown of San Francisco, but California's Department of Motor Vehiclesput the brakeson that rollout. The DMV sent a letter saying that Uber had failed to get the proper autonomous vehicle testing permit.(New York Times)
Uber lost $800M in Q3 Uber lost more than$2.2 billion in the first nine monthsof 2016, including $800 million in the third quarter. The losses can be attributed to the company's decision to leave China earlier this year. The private company generated about $3.7 billion in net revenue in the same nine months.(Bloomberg)
Uber is the most valuable startup in the U.S. Valued at $68 billion, Uber is among a newer class of startups called "decacorns" - companies that are valued at more than $10 billion.Airbnb is the second most valuablestartup, followed by the data-mining startup Palantir; Snapchat’s parent, Snap; WeWork; SpaceX; Pinterest; and Dropbox. All are decacorns.(Business Insider)