OT: Lyft and Uber IPOs

[BobbyJones]

Originally Posted by zap

No, Uber/Lyft aren't in the hardware biz.

Franchise.

Curious how you see this working. The only models I see are similar to fleet leasing or consumer rentals, but you'd just be replacing on set of expenses (the drivers) with another.

Maybe someone with fleet experience can chime in on the viability?

[pbarry]

"Uber drivers are independent contractors, not employees of the ride-hailing company, the federal labor board’s general counsel said in an opinion released May 14th. It’s another sign that drivers and labor advocates face a steep — if impossible — hill to climb to force Uber to reclassify its drivers as employees."

Posted on theverge.com. Can't copy the link..

[pbarry]

Originally Posted by BobbyJones

Odd enough, I came across my grandfather's badge and ID from the 30's while going through some "stuff" today. Unfortunately, i think the medallion was lost in a card game.

That's about the coolest memento ever. The stories it could tell..

[pbarry]

Originally Posted by jtakeda

Based on how many earnings withholding orders I’ve served Uber and based on some anecdotal info I’ve heard from the EWR processor there—gig work like this will not go away as long as there are desperate people.

That’s the problem though. Is Uber/Lyft are preying on the most desperate people in the workforce and there’s little to no regulation. I don’t think these people even had the foresight to think “I’m undercutting an entire industry” these are folks who are literally just trying to make ends meet

Great comments. Windering: Are they two cos really "preying on" desperate people? It's an instant way to make extra $, with a lot more flexibility than a service industry jib. The wife of a cousin was laid off, and he signed up with Uber and Lyft to make up the shortfall. Working out ok for him.

[jtakeda]

Originally Posted by pbarry

Great comments. Windering: Are they two cos really "preying on" desperate people? It's an instant way to make extra $, with a lot more flexibility than a service industry jib. The wife of a cousin was laid off, and he signed up with Uber and Lyft to make up the shortfall. Working out ok for him.

I urge you to read this https://www.nytimes.com/interactive/...al-tricks.html

and also
https://www.nytimes.com/2019/04/12/t...river-ipo.html

and I cant find the article but check out the car leasing program uber runs to give drivers a new car and they pay off the car in installments directly taken out of their uber wages.

Using your one example to typify how the business model is working for one specific person doesnt completely exonerate them from wrongdoing of hundreds. On the other hand a critical article from a liberal leaning paper shouldnt be end all be all for a company. I think designing your UI to keep people addicted and encouraging them to operate a vehicle in unsafe conditions counts as preying though

[fiamme red]

Originally Posted by BobbyJones

Odd enough, I came across my grandfather's badge and ID from the 30's while going through some "stuff" today. Unfortunately, i think the medallion was lost in a card game.

Very cool! This Times article has pictures of several versions of medallions, but not one that says "Public Hack Driver."

https://www.nytimes.com/2019/05/19/n...-suicides.html

[slowpoke]

Originally Posted by pbarry

Great comments. Windering: Are they two cos really "preying on" desperate people? It's an instant way to make extra $, with a lot more flexibility than a service industry jib. The wife of a cousin was laid off, and he signed up with Uber and Lyft to make up the shortfall. Working out ok for him.

Lots of folks driving for these companies probably aren't accurately factoring in wear-and-tear on their car and the potential for gas prices rising. It's not a sustainable, long-term job.

[Hellgate]

Originally Posted by slowpoke

Lots of folks driving for these companies probably aren't accurately factoring in wear-and-tear on their car and the potential for gas prices rising. It's not a sustainable, long-term job.

I knew a guy who was a "professional pizza deliveryman." Smart guy, got a 1250 or so on his SAT. Anyhow, he had a car dealer license and bought cars at auction. He never paid more than $200. He delivered pizzas until it died, removed the plates and walked away. He actually made money instead of trading equity for cash.

[BobbyJones]

Originally Posted by fiamme red

Very cool! This Times article has pictures of several versions of medallions, but not one that says "Public Hack Driver."

https://www.nytimes.com/2019/05/19/n...-suicides.html

The one above was a personal badge, like a license. The medallions are for the cars themselves. Two different things.

[fiamme red]

Originally Posted by verticaldoug

Final side note, I hope WeWork hurries up and lists so I can short it.

You'll have to keep waiting.

https://www.nytimes.com/2019/09/24/b...m-neumann.html

[unterhausen]

He got a lot of unwelcome attention recently, and he is a kook. It's interesting that he wanted to elevate the world's consciousness while arbitrarily firing large percentages of his workforce just because he figured they had to be dead weight.