Results reflect ongoing recovery, with third quarter revenue up 47% quarter-over-quarterEnded quarter with $2.5 billion of unrestricted cash, cash equivalents and short-term investments SAN FRANCISCO, Nov. 10, 2020 (GLOBE NEWSWIRE) — Lyft, Inc. (Nasdaq:LYFT) today announced financial results for its third quarter ended September 30, 2020. “Lyft’s third quarter results reflect our focused execution and… Continue reading Lyft: Lyft Announces Third Quarter Results
Tag: Lyft
Uber and Lyft Drivers in California Will Remain Contractors
[President-elect Joe Biden’s victory prompts spontaneous celebrations.] OAKLAND, Calif. — Drivers and other workers for so-called gig economy companies in California will not become their employees. California voters carried Uber and Lyft to victory, overwhelmingly approving Proposition 22, a ballot measure that allows gig economy companies to continue treating drivers as independent contractors. Uber, Lyft… Continue reading Uber and Lyft Drivers in California Will Remain Contractors
California voters approved Proposition 22, keeping ride-share and food delivery drivers as contractors — here’s what that means for companies like Uber, Lyft, Instacart, DoorDash and their workers (UBER, LYFT)
California voters approved Proposition 22, a legislation that keeps rideshare and food delivery drivers as “independent contractors” who do not qualify for state and local employee benefits like minimum wage, healthcare, or paid time off. The ballot measure, backed by Uber, Lyft, Instacart, and DoorDash, exempts firms from AB-5, a state law that would have… Continue reading California voters approved Proposition 22, keeping ride-share and food delivery drivers as contractors — here’s what that means for companies like Uber, Lyft, Instacart, DoorDash and their workers (UBER, LYFT)
Uber and Lyft gain $13 billion in combined market value after Californians approve Prop 22
Lyft executives celebrate the company’s IPO in 2019. Mario Tama/Getty Images Uber shares rose as much as 18% and Lyft shares jumped as much as 22% on Wednesday after California voters approved Proposition 22. The ballot measure’s passage means the ride-hailing companies can continue to classify their drivers as independent contractors instead of employees, exempting… Continue reading Uber and Lyft gain $13 billion in combined market value after Californians approve Prop 22
California Voters Side with Uber, Lyft in Battle over Gig Worker Labor Laws
Experts warn it could set an expectation that large companies can circumvent the government when legislation is passed that goes against their interests. Photo via Todd Lappin/Flickr. Millions of California voted to pass Proposition 22, classifying app-based drivers as gig workers, not employees. Backed by Uber, Lyft, and food delivery apps such as Postmates, Prop 22 exempts… Continue reading California Voters Side with Uber, Lyft in Battle over Gig Worker Labor Laws
Lyft’s head of transit says cities should keep catering to bikes and scooters even after the pandemic
During the Business Insider’s IGNITION: Transportation conference, Lyft executive Caroline Samponaro said some changes made to cope with the pandemic should stick around for a bit. “We hope we get back to some sort of routine that is somewhat normal, but we don’t have to leave behind the great things that we’ve done, the creative… Continue reading Lyft’s head of transit says cities should keep catering to bikes and scooters even after the pandemic
Via and Hyundai-Aptiv joint venture to offer shared robotaxi rides next year
Motional, the Hyundai-Aptiv joint venture, and on-demand shuttle startup Via plan to launch a shared robotaxi service for the public in a U.S. city in the first half of 2021. The companies said the aim is to develop a “blueprint” for on-demand shared robotaxis and learn how these driverless vehicles can be integrated into mass transit.… Continue reading Via and Hyundai-Aptiv joint venture to offer shared robotaxi rides next year
Lyft: Virtual Validation: A Scalable Solution to Test & Navigate the Autonomous Road Ahead
By: Robert Morgan, Engineering Director and Mason Lee, Technical Program Manager To build an autonomous vehicle (AV), we need to be able to safely and efficiently modify and test its software and hardware stacks. While on-road testing may seem like an effective way to do this, it’s simply unrealistic. It’s estimated that it would take more… Continue reading Lyft: Virtual Validation: A Scalable Solution to Test & Navigate the Autonomous Road Ahead
Uber drivers are suing the company over ‘threatening’ messages urging them to vote for California’s Prop. 22 (UBER)
A group of Uber drivers say the company’s messaging in favor of California’s Proposition 22 is breaking the law. In their lawsuit filed Thursday, they say the “threatening” and “coercive” messages break a 1915 law. An Uber spokesperson called the lawsuit “absurd” and said it lacked any merit. Prop. 22 would allow Uber and its… Continue reading Uber drivers are suing the company over ‘threatening’ messages urging them to vote for California’s Prop. 22 (UBER)
Motional And Lyft Resume Self-Driving Service In Las Vegas
The fleet’s passengers will ride in the first-ever Motional-branded robotaxis, following the unveiling of the company’s new brand in August. Peace of Mind, Every TimeThe service resumes as consumers demand new transportation options. According to a recent report, 70% of Americans say coronavirus infection is a real concern impacting their transportation decisions, and one-in-five are… Continue reading Motional And Lyft Resume Self-Driving Service In Las Vegas