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Seattle approves minimum pay standard for Uber and Lyft drivers
Under the ordinance, effective January, the drivers will now earn at least $16.39 per hour - the minimum wage in Seattle for companies with more than 500 employees.
Uber investors are pressuring CEO to revamp the self-driving division
When Khosrowshahi assumed Uber’s helm from ousted founder Travis Kalani...
Uber is reducing workforce by 14% and signals more cuts to come
Uber instituted a hiring freeze in March, withdrew its financial forecast and...
California sues Uber, Lyft over misclassifying drivers as contractors
Uber in a statement said it will contest the action in court, while pushing for the implementation of its own proposal for additional driver benefits.
Uber, posting first-ever decline in rides, says worst is over
During the past week, Uber has embarked on a blitz of cost-trimming moves. Uber said it will end food delivery operations in more than a half-dozen countries and that its Middle East unit Careem will terminate 31% of employees.
Lyft buys digital car-top advertising startup Halo Cars
Halo Cars was founded in 2018 and has operations in U.S. markets such as New York and Chicago.
Uber’s job cuts, office closures reflect narrower ambitions
Uber, which for years burned cash in exchange for user growth, had also faced challenges even before coronavirus hit. Its food delivery operations, a bright spot in terms of adoption, loses money, and other bets like autonomous vehicles and air taxis have yet to be proven.
VCs are gearing up for a post-pandemic auto industry
Autotech is trying to pandemic-proof its portfolio as it prepares to deploy $150 million in a funding round announced this week.
Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
Uber and rival Lyft have already withdrawn their full-year financial outlooks as demand for app-based rides dropped sharply across the world after governments imposed stay-at-home orders to curb the transmission of the coronavirus.
Google's self-driving sister, Waymo, gets first outside investors
Founded 11 years ago as a small project inside Google, Waymo now is widely considered the leader in developing self-driving technology. But Waymo and its principal rivals are still years away from building large-scale businesses around that technology, analysts believe.
New product, new business: Uber to sell software
Uber’s effort to re-purpose its software for others to use has been years in the making. Although the first deal is small, it could be the start of a reliable revenue stream in the future in the form of long term contracts.
Here's why so many tech startups misbehave
There may be any number of reasons these companies might engage in such shoddy behavior, but the most obvious one seems to be that their business models are so lame that they must do shady stuff simply to keep the lights on.
Unicorns have to live in the now, not the starry future
The struggles of SoftBank-backed Uber and WeWork are justifiably calling attention to the downsides of motives to grab for the the biggest potential outcome at any cost.
Rocketship.vc - built on data science and analytics - marks final close of Fund-II at $100 million
Founded by Anand Rajaraman and Venky Harinarayan, both of whom were serial entrepreneurs and have also worked in senior roles across Amazon and Walmart, Rocketship.vc claims to use machine learning and data science to identify and place its bets across sectors and geographies, rather than banking on personal meetings, as is the norm, to strike deals.
IPO best in show doesn't go to WeWork, Uber or Lyft
Datadog Inc helps companies monitor the health of their apps and computing infrastructure; it sold its first batch of public stock late Wednesday.