Uber CEO asking the govt to bail out drivers. Shameful!
Uber has over $10B in the bank and revenues of over $15B, but it's refusing the help the drivers, who generate that revenue for them, financially during the crisis. That is pretty shameful and sad to see. Uber had promised to compensate based on average hours worked in past 6 months, but that system seems be opaque and drivers are complaining on Twitter. Hoping better sense prevails at Uber. #uber
Imagine this scenario. You are a young person who has taken some debt to buy candy. Your cousins (Boeing, Delta, AAL etc) have also taken loans to buy candies for themselves. Now, as it turns out, eating a lot of candy makes you fat and unhealthy. Your cousins have become fat, and are having difficulty moving. Your rich uncle (FED) comes around and says that he will give your cousins money, pay for the liposuction, to become thin! You do not need the money to become thin since youโve some in the bank. Now, would you try to ask your uncle to also help you in getting thin; especially since all your cousins are getting a lot of money from your rich uncle? Or would you try to have a stance of โrighteousnessโ and say that you do not need the free money as youโll become healthy on your own? Tl;dr - nobody in their right fucking mind says no to free money.
drivers are independent contractors. will hypocrite fb bail out small business owners posting ADs on FB?
Uber barely makes a profit, that money in the bank is from investors to tide them over until the business is sustainable
this is the best thing that Uber could do for itself. There is no profit in sight for them and they have proven to have ineffective leadership. Might as well seize the opportunity and join the ranks of Boeing, the airline companies, etc so they donโt go out of business.