Africa is home to more than a billion people where a majority have limited or no access to vehicle financing. In fact, the continent has the lowest per capita vehicle ownership in the world. In 2019, Africa had fewer than 900,000 new vehicle sales. The U.S. sold more than 17 million new cars that same […]
Cities can have flying cars if they start working on infrastructure today
The truth is, flying cars are a reality. The aviation technology exists and early-stage regulatory review is underway in both the U.S. House and the Senate to bring eVTOLs to market.
How Uber plans to rebound from massive Q2 losses stemming from driver incentives
Uber’s second-quarter earnings revealed greater than expected losses, in large part due to the company’s massive $250 million stimulus package launched in April to incentivize drivers back onto the app after a pandemic-induced shortage. The company reported a loss of $509 million before EBITDA. For comparison, Lyft reported a positive adjusted EBITDA in the […]
Uber CEO calls Massachusetts gig economy ballot measure the ‘right answer’
Uber CEO Dara Khosrowshahi expressed his support Wednesday for a ballot initiative in Massachusetts that would keep gig economy workers classified as independent contractors, fulfilling a promise he made nearly a year ago to push for laws that preserve its business model. “In the state of Massachusetts, we think the right answer is our IC+ […]
Uber more than doubles revenues to nearly $4bn after a dismal pandemic year
In the ride-hailing service’s best quarterly report, it increased rides by 105% over last year as its delivery service growsUber is regaining much of the momentum it lost during the pandemic, announcing on Wednesday that its ride-hailing services saw a…
Uber shares fall despite revenue beat as its core operations continue to lose money
Today after the bell U.S. ride-hailing giant Uber reported its second-quarter financial results. The company’s numbers come a day after its domestic rival, Lyft, shared its own Q2 earnings. Notably while Lyft managed to generate positive adjusted EBITDA in the second quarter, Uber did not. However, Uber did generate positive net income of $1.14 billion […]
Venture capital undermines human rights
VC firms’ failure to carry out adequate due diligence means that a vast majority of them are failing in their responsibility to respect human rights.
Gig companies take worker classification fight to Massachusetts through ballot initiative
A coalition of app-based ride-hailing and on-demand delivery companies including Lyft, Uber, Doordash and Instacart have filed a petition for a ballot initiative in Massachusetts that would keep gig economy workers classified as independent contractors as the industry takes a fight it won in California on the road. The ballot measure proposed by the Massachusetts […]
Discounts from Uber and Deliveroo will lure young people in UK to get Covid jab
Companies will offer credit and price reductions in government push to boost vaccination ratesCheap taxi rides and discounts from the biggest takeaway companies are to be deployed by the government in a desperate effort to boost Covid vaccination rates…
Kodiak Robotics’ founder says tight focus on autonomous trucks is working
“We will need to raise more money, as you pointed out, that’s certainly no secret, but I think that we have multiple options to do that.”