Those who bought cars from Uber, they ever thought about that after several months they are offered less assignments? Or assignments that no one wants? Can it be that at some point Uber wants drivers to fail? Perhaps near a year's end? Since Uber is screwing drivers on costs, it is like drivers are driving for free? And are the cars being offered from Uber or another company owned by those who own Uber? If Uber has to file bankruptcy, due to lawsuits, would other company that sells cars still be going strong? I think we long way from having driverless cars especially taxis, can you imagine former taxis drivers buying jammers to cause accidents or make door locks unable to open, drop people off in Harlem or south side of Chicago at 2am? Transgenders dropped off at Biker's bars.
Uber hired investigators who lied to get info A secretive firm run by former CIA and NSC officials admitted that one of its unlicensed agents lied and illegally recorded a phone call while investigating an Uber client who is suing the ride company. According to Law360, the Uber user was part of a class action suit against Uber alleging price fixing. (Verge)
Uber ride service hits 2 billion-ride milestone Uberreached 2 billion completed trips– a milestone that occurred six months after the first billion rides. Uber also raised $3.5 billion from a Saudi fund and also got a $1.15 billion loan. Uber is in 450 cities around the world, having added more than 130 in the last year.(Reuters)
Uber gets the green light in China Uber welcomed the announcement that the world's most populous country has legalized ride companies like the San Francisco-based service and its rival Didi Chuxing. China will provide a legal framework, which willkick inNov. 1, that allows the companies to operate.(New York Times)
Uber drivers brood over timeouts Uber is reportedly locking drivers out of its system for up to 15 minutes every time they refuse a request to pick up a rider. Drivers generally have been reluctant to pick up passengers via UberPOOL, which operates like a carpool, because ithurts their ratingsand doesn't necessarily pay more.(CNN)
Chariot expands services in S.F. Uber and Lyft have another competitor in town, a private shuttle bus. Chariot isbranching beyond downtownwith 13 routes across the city costing between $3.80 and $5 per trip.(San Francisco Business Times)
Uber soon could be driving an IPO In addition to its recent move to sell its China business for $1 billion, Uber is also likely on the verge of watching its revenue growth slow. Because Uber shareholders want to grab the highest price for the company, Uber would be more inclined to make an initial public offering before growthslows too much.(Wall Street Journal)
From the article... "The pay is not worth it," said Eric Roberts, who has driven for Uber on and off in San Francisco the last two years. "You're constantly running around putting wear and tear on your vehicle for small fares." It also mentions another possible piece of evidence that Uber drivers are being treated more like employees rather than independent contractors. Uber needs to get that IPO roadshow going soon, there's a lot of suckers who will gladly buy the opening pop after early investors cash in their chips!
Uber will test self-driving cars in Pittsburg (with a human backup, just in case, lol!) https://www.yahoo.com/news/uber-autonomous-cars-haul-people-125127470.html?ref=gs "We've got to be laser-focused on getting this to market, because it's not a side project for us," he said. "This is everything. This is all the marbles for Uber." Indeed, once the model becomes the prevailing method of ride sharing, Uber will no longer require drivers and keep the entire stake. This has always been the focus for their business model. The drivers are helping to build the Uber empire, one rider at a time. At least those on the Uber Xchange will no longer have to pay the $800/month for their lease on a Chevy Cruze.