Uber’s early aggressive promotions like $5 rides on UberPool burned through hundreds of millions each year, sources tell Insider. The company suspended UberPool at the beginning of the pandemic and is now debating how to restart it. CEO Dara Khosrowshahi has raced to cut losses to meet profitability by later this year. See more stories… Continue reading Uber’s cheap and popular Pool ridesharing service lost the company as much as $1 million a week in San Francisco alone (UBER)
Author: Business Insider
Tesla is reportedly in talks to pay for computer chips ahead of time to combat an industry-wide shortage that Elon Musk has said caused ‘insane difficulties’
Tesla is in talks to pay in advance for computer chips, according to a report from Financial Times. The company is also reportedly mulling the purchase of its own semiconductor plant. Last month, Tesla CEO Elon Musk said the global chip shortage has caused “insane difficulties.” See more stories on Insider’s business page. Tesla is… Continue reading Tesla is reportedly in talks to pay for computer chips ahead of time to combat an industry-wide shortage that Elon Musk has said caused ‘insane difficulties’
Ford stock is outperforming Tesla this year, and technicals suggest the trend could continue (F, TSLA)
Ford F-150 Lightning. Ford Shares of Ford have staged an impressive rebound so far in 2021, surging 70% as it unveils its electrification plans. Meanwhile, shares of Tesla have moved in the opposite direction and are down 14% year-to-date. Technicals suggest that the outperformance of Ford relative to Tesla could continue. Sign up here for… Continue reading Ford stock is outperforming Tesla this year, and technicals suggest the trend could continue (F, TSLA)
Uber’s forever war: 10,000 black cab drivers sign up to sue for millions saying the app broke taxi-booking rules
Over 10,000 of London’s black cab drivers have signed up to sue Uber claiming loss of earnings. The group legal action claims Uber broke the law from June 2012 to March 2018. Uber has strongly denied the claims and insisted that it operates lawfully in London. See more stories on Insider’s business page. More than… Continue reading Uber’s forever war: 10,000 black cab drivers sign up to sue for millions saying the app broke taxi-booking rules
Uber has recognized a trade union for the first time. 70,000 drivers in the UK can now join and collectively negotiate wages, sick pay, and pensions.
Uber made history on Wednesday by recognizing one of the UK’s biggest trade unions. It’s the first recognition deal between a ride-hailing app and a union. Its 70,000 UK drivers can join the GMB to negotiate over pay, pensions, and support, the union said. See more stories on Insider’s business page. Uber on Wednesday officially… Continue reading Uber has recognized a trade union for the first time. 70,000 drivers in the UK can now join and collectively negotiate wages, sick pay, and pensions.
Most executives say they want more contract and temp workers. A majority of those workers say that’s not good enough. (UBER, LYFT, DASH, GRUB)
Contract workers “overwhelmingly” want to be permanent employees, according to a new McKinsey-Ipsos survey. But executives say they plan to rely more heavily on contract labor, McKinsey previously found. The findings reveal a huge divide between workers’ wants and those of their bosses. See more stories on Insider’s business page. Around a quarter of Americans… Continue reading Most executives say they want more contract and temp workers. A majority of those workers say that’s not good enough. (UBER, LYFT, DASH, GRUB)
Watch Elon Musk’s Boring Company test its Tesla tunnel system in Las Vegas with members of the public
The Boring Company offered rides through its Las Vegas Convention Center Loop this week. The rides were designed to test the capacity of the tunnels. Videos of the event represent the first real peek into Elon Musk’s futuristic transportation plans. See more stories on Insider’s business page. The Boring Company began offering rides in Teslas… Continue reading Watch Elon Musk’s Boring Company test its Tesla tunnel system in Las Vegas with members of the public
Cryptocurrencies are for speculators, criminals, and cosplayers. Other than that they’re useless.
Crypto is for speculators, criminals, and people who like playing pretend central banker. It is mostly a dangerous nuisance. It is not the future of money. This is an opinion column. The thoughts expressed are those of the author. See more stories on Insider’s business page. Cryptocurrencies are for speculators, criminals and cosplayers. Aside from… Continue reading Cryptocurrencies are for speculators, criminals, and cosplayers. Other than that they’re useless.
Tesla is scrapping radar sensors and turning to cameras to power Autopilot in Model 3 and Model Y cars
Tesla will remove radar sensors for Autopilot in some vehicles from now, it said. Model 3 and Model Y cars delivered from May would use only cameras to power driver-assist features. Tesla said some features, such as Autosteer, may be “temporarily limited or inactive” in the transition. See more stories on Insider’s business page. Tesla… Continue reading Tesla is scrapping radar sensors and turning to cameras to power Autopilot in Model 3 and Model Y cars
Why today is the golden age of the electric car startup — and the big automakers’ century of dominance may be at an end
Electric vehicles have far fewer parts and require less labor to build than gas cars. EV startups are using special purpose acquisition corporations to tap the capital markets. New auto entrants must overcome barriers such as laws prohibiting company-owned stores. See more stories on Insider’s business page. Tucker, DeLorean, Kaiser-Frazer, Avanti. The American auto industry… Continue reading Why today is the golden age of the electric car startup — and the big automakers’ century of dominance may be at an end