Uber Must Treat Workers as Employees

New
SrZeroCool

New

PRE
IBM
SrZeroCoolmore
7d 38 Comments

Interesting that Uber/Lyft stock price is going up for both!

If this is bad news, why is the stock going up?

Should employees jump ship or stay?

California legislators approved a landmark bill on Tuesday that requires companies like Uber and Lyft to treat contract workers as employees, a move that could reshape the gig economy and that adds fuel to a years long debate over whether the nature of work has become too insecure.

https://www.nytimes.com/2019/09/11/technology/california-gig-economy-bill.html

85 VOTES SELECT ONLY ONE ANSWER
VOTE VIEW RESULT

comments

Want to comment? LOG IN or SIGN UP
TOP 38 Comments
  • Google Mr. Glass
    Stock is going up because regulation kills competition. It means Uber and Lyft will rule the ride sharing market without fear of any competition. They will raise your ride fare price and you will be forced to pay up, no competitor will come in to under price them and give you a better deal. Then you’ll realize the effects of the stupid policy enacted by the leftist scums.
    7d 2
    • American Express D.BCooper
      Taxi cabs are competition now too.
      7d
    • Google Mr. Glass
      ^ yes, but you already know that taxis are even bigger scams. They will never offer you better service at a cheaper price, never. The taxi mafia’s entire business model is predicated on erecting barriers to entry through regulation, and then forcing higher fares.
      7d
  • VMware vmya
    F’ing liberals that think this is a good idea.
    7d 14
    • Google Mr. Glass
      The founding fathers were classical liberals (watch the video and learn https://youtu.be/Bsba-dNApvw).

      This is not a specific instance of a general problem, it’s a special and important concept to get right because it’s at the heart of liberty and the concept of America. Don’t dilute the issue.
      7d
    • SAP dwEC83
      they dreamed of an utopic society. good to set your goals high but reality is we have to settle for less.

      second, what they have to do with scums liberals today?
      7d
    • Google Mr. Glass
      The scum are the leftists, not liberals. Learn that first.
      6d
    • SAP dwEC83
      yes the liberal are all perfect honest humans with the biggest hearts
      6d
    • Google Mr. Glass
      No they are not, but this specific discussion is about not conflating leftism with liberalism. Think clearly before yapping
      6d
  • Mozilla whimsybear
    So side gigs won’t be a thing anymore? Doesn’t that make people less financially stable because they have to rely on an employer alone?
    7d 8
    • Google Mr. Glass
      Not only that, but professional services income has 0 tax. When you make them an employee they have to pay taxes on W2. Let’s see what after tax income they make then at the higher minimum wage. If anything, the CA government has begun looting money from your Uber and Lyft drivers, masking it under minimum wage protection and employment rights.

      CA government scum: “We need to loot money from you and your employer because you need our protection! (And I need to employ 10x more bureaucrats at high pay for it)”
      7d
    • New QTdN03
      Basically, this is a tax scam enacted by the CA government.
      7d
    • Google iSpj48
      A quick Google search suggests that Uber/Lyft drivers are required to pay taxes - do you have a source to the contrary, Mr. Glass?
      7d
    • SAP dwEC83
      unless your last name is Trump, we all have to pay taxes on money earned
      7d
    • Google Mr. Glass
      Everyone has to pay income taxes, but there’s no sales tax or any additional tax on professional services. This is different from any other kind of product or service sold in any state in the US.
      7d
  • New QTdN03
    It won’t reshape it. Just relocate it. I’m more curious to see how this affects the large tech consulting landscape in Silicon Valley. Will it all move to Seattle and elsewhere?
    7d 3
    • Cisco
      aynrand1

      Cisco

      BIO
      Tech Bro
      aynrand1more
      Seattle here. Moved here from SV. Seattle will overtake SV in 10 years time. CA and SF continue to shoot themselves in the foot. Plus you make way more money here.
      7d
    • Uber just12
      it might look like that at the moment. but majority of humans still don’t like the gloomy weather, continues rain and snow. it might drive out few 5-10% from SV to SEA for affordable property values till it is not. In 10 years SV will be more expensive and have more opportunity than what already is! but there will be remote offices not only in Seattle/Austin..distributed across the countries! Opportunity and TC will still be more in SV
      7d
    • Cisco
      aynrand1

      Cisco

      BIO
      Tech Bro
      aynrand1more
      Seattle has just as much opportunity and get this... the startups here actually make money and aren’t some propped up YC ponzi
      7d
  • Uber basket
    Great, see you tomorrow at 8am driver. No lunch breaks either — corporate policy
    7d 0
  • Facebook public2
    Here come the robots!
    7d 1
    • New QTdN03
      You’re probably right. Legislation like this will force it to happen sooner.
      7d
  • Google LyLs67
    Buy the rumor sell the news.. in reverse
    7d 0
  • Google
    kielbasa

    Google

    PRE
    Amazon, Yahoo, Microsoft
    kielbasamore
    I think it’s going up for other reasons. The CEO is trying to streamline the company and people are getting fired unfortunately. W2 drivers will make it more expensive for Uber and there will probably be more layoffs to cut costs.
    7d 0
  • SAP dwEC83
    this has been in the works for a while so it isnt really news for traders.
    7d 0