Heard that it was about the drivers striking and how they are not getting paid fairly...How is this going to impact IPO?
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- Uber / Data bYxS45No Impact, they can strike all they want. The problem is they are asking for full time jobs as Uber drivers with benefits and they want a union so they want to be like the monopoly of taxi companies that we solved with Uber
- Username, that’s exactly what Oracle kept saying about the cloud: Cloud for enterprise is not a “thing”....and here we are. Everyone on enterprise moving to the cloud and our cloud is a baby.
The future is here. Self-driving cars will be on the roads soon. Get onboard or sink.
- The striking drivers are welcome to create another Uber-like company and hire themselves with better benefits. I am sure the remaining Uber drivers will migrate to them, bankrupting Uber.
Oh they can’t? Then they should shut up and drive.
- Nope. Unions today tend to promote tenure-based pay and block extra pay for hard workers. That results in worse working conditions for workers, lower revenue for their employers, less budget for labor, and fewer jobs. Some unions do help some members, but as a whole they make their members' lives worse.
* minimum wage (lowers wages, increases inflation)
* rent control (increases rent prices, causes homelessness)
* occupational licensing (kills jobs in that occupation)
* college tuition subsidies (make college more expensive)
* child tax credits (causes poor single family homes)May 13 2
- @sinkinship nope I didn’t qualify for income based assistance because all through high school I worked multiple part time jobs so my income + 4 parents income (combined household incomes after parents divorced/remarried) disqualified me for any income based financial assistance.
Government assistance should be reserved for those who legit can’t work due to serious injury, a real disability (not merely being a lazy fatass that pops out kids), etc. If you’re able bodied, there’s never a reason you should get handouts, you just need to work harder.
There was no social safety net for all the hard working immigrants that came over and helped make America great originally. They worked their a$$es off and achieved much.
- That’s rich 🤣 because we believed in hard work, we weren’t in poverty 🤣 By every economic standard we were but my family including myself believed in hard work that didn’t stop at 40 hrs/wk. We qualified for assistance numerous times in my life but didn’t take it because we believed as long as you were able bodied, it was shameful to do so.
You forget modern welfare didn’t exist until the late 1930s. Before that, there was no welfare system. Since introducing the govt teat, people have gotten lazy and forgot what hard work is and would rather just b*tch and moan while claiming they deserve more yet they don’t demonstrate value that justifies more. If you don’t make enough money you have two options, get an additional job or get one that pays better which might require bettering yourself first.
- Blind is a great reminder that most people in tech are pieces of shit with overinflated egos. This thread is a prime example.
Flagged by the community.
- You know things are F-ed when an Amazon guy is talking about empathy towards workers
- No impact. ETAs and pricing are the same today as any other day. The supposed “strike” has had no effect as is the case with most strikes.
- Amazon zXno30They can get a higher cut. One condition. Ban the prius and make them drive real cars
- https://www2.greencarreports.com/news/1078138_toyota-hybrid-battery-replacement-cost-guide “replacements are rare. Most Prius will not need a new battery ever. Warranties are 100k miles”
- For all the idiots who are asking the drivers to go find a skilled occupation, please realize that if all drivers were to learn programming or medicine then those jobs would be minimum wage jobs as well. Capitalism is designed to have only few rich people at the top. 1% of the rich own more wealth than the bottom 92%. The reason we techies enjoy high paying jobs is because of the average joe who makes $30,000 and not because of the few snooty bayarea coders.
In the age of cloud, machine learning and AI, most Americans will eventually be replaced by machines. Now the question is what are those middle aged jobless people supposed to do?
- Yes. Saying “the job market”, which involves the supply of and demand for labour across many industries, and “the housing market”, which is small segment of the economy and involves the sale of a limited type of high-priced commodity, are exactly the same would be dumb.
That’s why I didn’t say it - what I tried to point out is that claiming any and all technological changes will yield deterministic (and positive) outcomes is myopic. Just because economic trends led to certain outcomes in the past, even over long stretches of time, is no justification for claiming those trends will continue indefinitely. That’s a facile and potentially problematic viewpoint.
Sorry if that wasn’t clear.
- Hey Samurai wassup. You sound exactly like a child telling his parents that Newton laws might just stop working because why not?
Market works in the same way because people stay the same. As soon as you get more of something its price goes down, and as soon as price goes down people find other ways to use the thing.
Automation frees up people? Good. Labor becomes more available, and humans are seriously adaptable. More labor means more opportunities for new businesses to hire. As a result, economy grows. Those who had to adapt grumble a bit but people grumble all the time so nothing to see here.
There’s only one thing that will make things worse: government messing with market via regulations, UBI, welfare programs and rest of stuff that prevents labor from entering the market.
- Lol... economics is not science ... hypothetically let’s say it is, hasn’t always old science replaced by new science? Even Newton’s law of gravity found its limitations when scientists tried to use it on sub atomic particles.
As a person of science, always question the status quo and always question the data sample size and the quality of data when someone says - “my argument is backed by data.”
- Top of HN right now: https://www.bloomberg.com/opinion/articles/2019-05-08/the-mighty-u-s-consumer-is-struggling
Nope no problem here, the poors are just complaining. It’ll pass.
- A lot of Uber drivers are ex cab drivers. They used to have unions to protect them from competition ..... and unfair practices.... although this is what capitalism looks like. Cab companies refused to hold their drivers to a standard and became a crappy experience and they were forced out of the market. The Uber drivers (many ex cabs) now want to go back to the same system they had before. It’s not going to happen.
It will affect their IPO imo. Which will be good because they are probably valued too high anyway (look at lyft).
I will agree I think Lyft USED to treat their drivers better and gave them a higher rate but now they are tied together like all sorts of other industries because they’ve both come to understand what they need to make to make a profit to keep shareholders happy.
If Lyft came out right now with a price war strategy and offered a temporary rate hike for ex Uber drivers to switch over it could hurt Uber even more.
For the record I think 25% cut from every ride is a bit much by both companies to take. If they cut it to 18 or 20, I think that might satisfy them enough and force Lyft to do the same thing. But as for making them ft employees with benefits is a crock of sh*t.
- “Cab companies refused to hold their drivers to a standard...” Not quite. Cab companies are held to standards like labor laws and local regulations; those are the standards Uber and Lyft specifically want (and need, frankly, if they want to compete) to get around in order to success.
- Uber has labor laws it abides to for its employees. Drivers are not employees. Uber and a Lyft have lots of regulations they are held to.
I was talking about standards for the actual driver as an employee, like not being a freaking assh*le to their passengers, having a clean car, not reeking of BO, not excessively unsafe driving and most annoyingly being on the god damn phone while screaming and honking at everyone.
That’s the standard I was talking about. Uber and lyft changed that. And guess what, I’ve been taking a cab a lot more lately and I think it might have had a spill over effect on the cab companies.
- Lyft FwUh10The only impact is journalists scrambling to report on a story that isn't manifesting itself like they thought it would.
- Adobe xzez56It looks like the barrier of entry for drivers is getting lower and lower, which has a negative impact on the service I get: “no speak English” drivers, unpredictable ETA, missing appointments, waiting 4mins to be connected to a driver to then get a timeout of the request. If there’s something to be worried about the business model, in my opinion, the quality of the service, the experience customers get, is what I worry most... and drivers are key
- Uber lost a $BI love all the negative impact you listed. Before Uber, people pray for that level of services. 4 minutes to be connected to a driver is godspeed even in NYC back then. See how much our life has changed now that we are actually complaining about it. The drivers want to go back to the old days.
- Juniper / Data blueironIt is not about protesting low pay. It is about protesting unfair pay. Protesting low pay is what Uber wants you to believe. The major problem is with Uber Pool. Uber takes a 30% cut from regular rides. You can argue about it but that’s reasonable. The problem with Uber Pool is that it doesn’t work the same way. Uber has some skewed (in their favor of course) way to calculate how much drivers get and that is hurting them badly. I heard multiple complaints from multiple Uber drivers how Pool pays them very low. They want Uber to have a reasonable, fair, transparent and easy to understand fare sharing mechanism and I don’t think that’s a big ask. Yes, they expect to see an increase in their income too but it is because they believe Uber’s policies are flawed.
- When the f will people understand some jobs are not worth $25/hr. Its not the company or the govt jobs to ensure they get a certain amount of money. It's the individual's responsibility. I mean isn't that what everyone here does, if underpaid, git gud and get paid more. It's economics. If enough people leave, suddenly market factors force companies to pay more. Also, to be frank if everyone earns at least earns 25/hr, suddenly 25/hr is worthless. Just like 100k is shite in Bay area.
- Uber (currently) is a bad business model. They are losing billions, despite their scale. Their IPO filings does not indicate an easy or quick path to profitability. Drivers are commodities in the Uber or Lyft ecosystem, something to bear until automated cars can make their models viable. These protests are more likely symbolic, not likely to affect the IPO premium. Worst case it affects customers, who look at other options to commute during morning commute hours. This is a lose-lose business, and when Uber and Lyft raise prices, the customers will lose too.