Lyft and Uber said they will cease operations in Minneapolis after the city’s council voted Thursday to override a mayoral veto and require that ride-hailing services increase driver wages to the equivalent of the local minimum wage of $15.57 an hour.
Lyft called the ordinance “deeply flawed,” saying in a statement that it supports a minimum earning standard for drivers but not the one passed by the council.
Good. Get the fuck outta here and let someone who can run a functioning company take your place. Functioning companies pay their workers enough to live on.
Good
If your business cannot exist with paying employees appropriate wages then that is a failure in the business and the business does not deserve to exist. That’s what these capitalists love, right? Oh they’re only upset when the system works against THEM, that’s right.
Goodbye
Don’t let the door hit you on the way out.
How the fuck is Lyft still a company?
They don’t deliver food, how did they survive the pandemic?
How many dumb billionaire venture capitalists put way too many eggs in that basket?
Something tells me that would be an easy stock to short.
I know a lot of people who simply just use both Uber and Lyft; and refer to them both as “Uber”.
Yeah. And “dumb venture capitalists” describes Uber more than Lyft. They’re way more overextended.
Food delivery? You want to compete against GrubHub, Doordash, Postmates, and local restaurant delivery drivers? It’s a losing business.
Having two options means you get to compare prices. Most drivers work for both anyways. Also, I don’t use Uber for anything other than car rides.
It’s lost 80% of its value in the past few years. I think you’ve maybe missed the boat on shorting.
Call their bluff. There’s a lot of money for this kind of service in the metro. Big rideshare is just trying to maintain the status quo.
Everytime I read anything about lyft and uber I can’t help but wonder what would happen if the drivers could get organized and form a non profit coop.
Get a new name, app, insurance, a board that runs the day to day operations.
Would it even be profitable then? At least it might be equitable.
“Buh-bye. Get fukt.”
Good fucking riddance
What?? You mean licensed taxis with unions and accountability will suddenly get business again?
K. Bye now.
Fuck’em! Start a driver’s cooperative!
This is why nationalize is a good thing.
