Tag: uber

By on May 21, 2019

As ride-hailing services utilize the personal vehicles of contractors, rather than a commercial fleet of their own, repairs and recalls have to be handled by individual drivers. While it shouldn’t be a revelation that some recalls fall through the cracks, Consumer Reports is concerned that the ratio of unaddressed safety issues are unbecoming of companies pushing multibillion-dollar IPOs.

“Uber and Lyft are letting down their customers and jeopardizing their trust,” suggested William Wallace, products policy manager for Consumer Reports. “Uber’s website says people can ‘ride with confidence,’ while Lyft promises ‘peace of mind,’ yet both companies fail to ensure that rideshare cars are free from safety defects that could put passengers at risk.”  (Read More…)

By on May 10, 2019

Ride-hailing company Uber approached its Thursday initial public offering with an abundance of caution, setting a lower-than-expected share price in a bid to avoid rival Lyft’s stock plunge.

When markets open Friday, Uber’s stock will be priced at $45, near the bottom of a previously stated range that topped out at $50. That puts Uber’s initial valuation at just over $82 billion. Amid controversy surrounding its business practices and growing uncertainty about the viability of huge ride-hailing firms, Uber hopes to raise $8.1 billion from its IPO. (Read More…)

By on May 8, 2019

Uber and Lyft drivers from the world over are going on strike today to protest the company’s working conditions and pay. However, the careful timing of the event also appears to be aimed at torpedoing the brand’s fast-approaching IPO.

While Uber exists as a corporate middle man between riders hunting for a vehicle and drivers seeking a fare, the company’s official position is that both are customers. As Uber sees it, it’s providing both with access to its platform and thereby offering a service. But many drivers disagree and claim the only way to make a living is to work ludicrously long hours, which they believe should at least entitle them to be called employees and warrant some benefits.  (Read More…)

By on April 2, 2019

Despite playing host to what everyone presumed would be a very hot property, Lyft’s IPO hasn’t panned out as expected. While the company’s Friday stock debut was strong, April 1st was less promising, with Lyft’s share price slipping by nearly 12 percent in a single day. It’s now well beneath the target price, casting doubts about the financial sustainability of mobility firms.

It’s a complicated issue. Lyft was valued at more than $22 billion when it went public last week, but investors are concerned with the company’s inability to turn a profit. Last year, the ride-hailing giant posted a net loss of nearly $1 billion. With Uber likely to announce its own IPO soon (and likely face similar headwinds), many are concerned.  (Read More…)

By on March 19, 2019

2017 Toyota Corolla LE - Image: Toyota

Annoyed by the lack of passenger data available from ride-hailing companies like Uber and Lyft, two researchers took matters into their own hands. Hoping to learn why people use ride-hailing apps to get around town, the authors of a study published in the Journal of Transport and Land Use joined forces, with one of the men volunteering to get behind the wheel of a 2015 Honda Civic on the mean streets of Denver, Colorado.

If Uber and Lyft wouldn’t share, maybe real, live passengers would. (Read More…)

By on November 16, 2018

Uber’s in a bit of trouble after quarterly losses surged to $1.1 billion dollars. The ride-hailing giant has watched its sales growth dwindle this year, despite an expensive attempt to promote its global expansion.

It’s not the kind of thing you want to see from a company at the forefront of “revolutionizing” the automotive sector, especially since so many automakers seem keen on copying aspects of its business model. (Read More…)

By on November 15, 2018

Ford badge emblem logo

These days, every automaker is in the midst of a metamorphosis, eager to emerge from their chrysalis as a “mobility company.” Even brands that don’t seem bent on completely revolutionizing their business model now use the term in reference to themselves.

Ford, which has positioned itself as a mobility company ever since Mark Fields was steering the ship, is among those pushing the narrative the strongest. Fields may have been fired for having a lofty, tech-focused vision that couldn’t charm investors, but much of it carried over to Jim Hackett’s tenure as CEO. Ford desperately wants to be seen as a cutting-edge nameplate.

However, the assumption among industry experts is that it’s lagging behind General Motors in terms of autonomous driving, electrification, and the ability to tap into alternative revenue streams. We sometimes wonder how accurate those assumptions are.  (Read More…)

By on November 5, 2018

uber volvo

Are two safety drivers better than one when it comes to the testing of self-driving cars? Uber Technologies feels it is, declaring as much to Pennsylvania’s road regulator. The company has filed an application with the state’s department of transportation to resume testing of autonomous Volvos, eight months after a fatal collision with a pedestrian on a darkened Arizona highway.

Uber stopped all autonomous testing in the wake of the March 18th collision, with the Arizona program dismantled for good. In Pittsburgh, the company hopes to show it learned from the safety lapses revealed in the accident investigation. These Volvos now have two fail-safes on board. Is it enough to restore the public’s trust? (Read More…)

By on October 24, 2018

We’ve been critical that self-driving systems are, ahem, “oversold” by automakers and tech firms hoping to boost their stock valuations. That doesn’t mean autonomous vehicles won’t happen, just that the timeline is probably a lot longer than the public has been led to believe. Still, it makes sense to pursue AVs. The first company to achieve legitimate self-driving will blow the hinges off a door leading to an array of new business opportunities.

General Motors, long considered a frontrunner in the autonomous race, is apparently in desperate need of a second wind. Its Cruise self-driving unit is said to be woefully behind in its attempt to bring an autonomous vehicle to the commercial market by 2019. Some GM staffers have confessed that the current system isn’t even capable of identifying whether objects are in motion or not — which seems like an important distinction for a computer-controlled automobile to be able to make.  (Read More…)

By on October 16, 2018

If reading about young brainiacs with God complexes and too much money living in Silicon Valley makes you ill, best not read this while eating. For everyone else, you’re encouraged to take a peek at this report in The New Yorker.

It’s a Marianas Trench-deep dive into what occured in the years leading up to last year’s filing of an intellectual property theft lawsuit by Google’s Waymo autonomous vehicle unit against ride-hailing company (and rival self-driving vehicle developer) Uber. The alleged theft is intriguing, but the behind-the-scenes accounts of what went on at Google’s pre-Waymo self-driving car effort is the stuff of HBO and Netflix. There’s crashes and mayhem, egos, genius, and money, money, money.

Absolutely no sex, of course.  (Read More…)

By on September 27, 2018

The National Association of City Transportation Officials (NATCO) has joined Ford, Uber and Lyft to work with the data platform SharedStreets to glean a better understanding of America’s infrastructure. Their collective goal is to “make it easier for the private sector to work with cities around the world and leverage data to improve urban mobility.”

That means different things to different companies. For Uber and Lyft, aggregate data on passenger pickups and drop-offs could be useful in deciding where to deploy their vehicles. The information could also prove helpful in telling city planners how to best manage traffic patterns. Uber also said it would track speeders and what on types of roads people are more apt to drive dangerously.  (Read More…)

By on August 28, 2018

Toyota Motor Corp. is set to drop about $500 million into Uber Technologies Inc. under an agreement that will see both companies work jointly on self-driving vehicles. The ultimate goal is for Toyota to bring to market its own autonomous vehicles using some of Uber’s hardware, with direct access to its ride-sharing network.

According to the automaker, the initial push will use the Sienna minivan as a platform for the “Autono-MaaS” (autonomous-mobility as a service) fleet. This makes the arrangement sound very similar to Waymo’s deal with FCA, which allows Alphabet’s autonomous arm to use the Chrysler Pacifica as a test platform for its self-driving hardware in exchange to having improved access to autonomous technology. However, Toyota said the partnership’s primary goal is improving safety and lowering transportation costs for the public.  (Read More…)

By on August 21, 2018

A new study from Schaller Consulting is claiming that ride-hailing services, like Uber and Lyft, contributed to 94 million additional miles being driven on Seattle-area roads in 2017. We’ve heard similar claims in the past. Data-backed allegations typically revolve around the notion that app-based services don’t encourage motorists to carpool so much as they pull pedestrians away from public transportation.

Considering how difficult most subway systems and bus lines are to enjoy, that’s not hard to believe.  (Read More…)

By on August 8, 2018

Last year, the Center for Automotive Research said robotic vehicles will eventually displace professional drivers in figures that will be “certainly in the millions.” Meanwhile, Goldman Sachs predicted trucking job losses of 25,000 per month as autonomous vehicles roll out in earnest. Truckers are going to end up like pinsetters and switchboard operators — saddled with a career that have been nullified thanks to automation, until they become extinct. However, we’ve also heard there’s a lack of manpower within the industry and that’s helping spur development.

This year, a glut of new studies emerged that suggest self-driving vehicles will actually benefit truckers. Unfortunately, they all come from sources that really want you to be stoked with the technology.  (Read More…)

By on August 6, 2018

Uber ride, Image: Jason Tester Guerrilla Futures/Flickr

An April ruling from the California Supreme Court determined that most contract workers, including those partnered with ride-hailing companies like Uber and Lyft, could actually qualify as employees under the state’s wage laws.

While that’s great in an era when wages can’t seem to match the constantly ascending cost of living and companies are cutting corners to maximize profits, it’s not so great for outfits that depend on contract workers to exist — like the aforementioned ride-hailing firms.

Uber and Lyft managed to balloon their revenues far beyond the billion-dollar mark, but neither company is currently profitable. Despite taking a cut of every single fare, expenses still result in a net loss for the companies during most rides. Assuming California forces them to tack on employee benefits and all the associated trimmings, both businesses could be in for a world of hurt.  (Read More…)

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