Uber

With IPOs in 2019, losses are the new normal

With IPOs in 2019, losses are the new normal

If there’s anything to learn from IPO’s in 2019—from Lyft and Uber’s already released S-1 filings to rumours that Pinterest and Postmates will go public—it’s that it is looking to be a big year for money-losing tech companies. Losses are the new normal for companies going public, reports the Wall Street Journal, with 83 percent of IPOs in the US happening within the first three quarters of 2018 losing money in the prior 12 months.

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Uber is lobbying for a congestion charge in NYC — but whether it will work is uncertain

Uber is lobbying for a congestion charge in NYC — but whether it will work is uncertain

Two months ago New York City approved a limit on the number of Uber, Lyft and other on-demand ride services and voted to halt issuing for-hire licenses for 12 months while it studies the industry in more detail. During the cap, both companies will still be granted licenses for wheelchair-accessible vehicles and by 2021, 25 percent of vehicles in their fleet will be required to be wheelchair accessible, which Uber isn’t happy about. Now Uber is putting its money and resources into helping fix New York City’s traffic congestion problem, by investing $10 million over three years on a “campaign for sustainable mobility” — with the centrepiece being congestion pricing in high-density parts of the city. This is surprising, coming from a company that accounts for 65,000 of the 103,000 for-hire vehicles in NYC.

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Uber just fired everybody on its self-driving car team in Pittsburgh

Uber just fired everybody on its self-driving car team in Pittsburgh

Ride-sharing company Uber has laid off all 100 of its self-driving car safety operators in Pittsburgh as it begins to reevaluate its tests after a fatal crash in Tempe, AZ in March. Following the crash, the company also halted testing of its fleet in Phoenix, San Francisco, and Toronto in what it called a "standard procedure".

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