September 19, 2019

On Wednesday, California Governor Gavin Newsom signed a landmark labor law that guarantees wage and benefit protections for gig economy workers. The primary targets of this legislation are the state’s many Uber and Lyft drivers who are currently classified as independent contractors. When the new law comes into effect next year, the state will reclassify these contracted workers as regular employees entitled to a minimum wage, sick days, and other benefits. 

“Today the so-called gig companies present themselves as Continue reading

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Today, Uber will start to trade shares on the New York Stock Exchange in one of the mostly highly anticipated IPOs ever. Although the ride-hailing service had been pushing for a $100 billion valuation, it began the day trading at $45 per share, amounting to a valuation of about $82.4 billion. This enormous windfall will create instant fortunes for those who invested early in Uber. For the company’s millions of drivers, however, it’s unlikely they will benefit that much from Continue reading

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lyft-carSelf-driving vehicle technology has improved so much in recent years that the concept is no longer a futuristic fantasy. As automated driving becomes more refined, companies have begun to move out of the research phase and on to developing commercial strategies. Waymo, for instance, became a company in December 2016 after eight years of autonomous vehicle research by its parent Google. During that time, Waymo says that its vehicles logged more than 3 million miles driving in the real world. Continue reading

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Advancements in technology have allowed entrepreneurs to experiment with radical new ideas that wouldn’t have been possible even a few years ago. However, often these innovations end up disrupting established businesses that have operated the same way for years. The latest example of this phenomenon can be seen with the new wave of “ridesharing” companies like Uber, Lyft and Sidecar. Although these startups have made a splash with young, tech-enabled consumers, taxi companies and local governments don’t share the same Continue reading

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