california Lyft Op-ed Uber 

California AB5 Threatens to Permanently Kill Lyft & Uber – CCN Markets

California bill AB5 could slam Uber and Lyft with massive new costs, widening company losses, and making rideshare more expensive. | Source: Justin Sullivan / Getty Images / AFP The first major regulatory assault on rideshare is about to crash headlong into Lyft and Uber, courtesy of California bill AB5. California Bill AB5 Could Kill Rideshare The California legislature appears certain to pass AB5, which would effectively force Lyft and Uber to reclassify drivers from independent contractors to employees. Governor Gavin Newsom has publicly proclaimed his support for the bill,…

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Bradley Tusk Op-ed Travis Kalanick U.S. Business News U.S. Market News Uber 

Uber Investor Mistakenly Claims Stock Is Toast Without Kalanick-Like CEO

Uber investor Bradley Tusk says the stock needs a ruthless CEO to escape the doldrums but one investment manager disagrees. | Source: REUTERS/Andrew Kelly Bradley Tusk, an early investor in Uber Technologies and its first political strategist, believes current management lacks the innovative and intense vision of founder Travis Kalanick and that Uber stock will remain in the dumps as long as that remains the case. No Confidence in Management Bradley Tusk says the reason that Uber stock is in the doldrums is that there is not any confidence in…

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Jon McNeill Lyft Op-ed U.S. Business News Uber 

Lyft Stock Recoils, But COO’s Shock Departure Has a Silver Lining

Lyft’s Chief Operating Officer, Jon McNeill, is leaving the company after only 18 months on the job. Lyft stock slid 2.27% on the news. 3 Possible Reasons Why the COO Flew the Coop For senior management to depart a position as necessary as operations after only 18 months, there are usually only three possible explanations. The first explanation is that Jon McNeill took the company as far as he believed his skills would take it. McNeill is a young guy, and he’s been with multiple companies, including Tesla. It may…

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bitcoin Crypto Jeff Bezos Opinion U.S. Business News Uber 

Forget Overhyped Billion-Dollar Tech Unicorns, Bitcoin Is the Best Startup Ever

By CCN: 2019 has been the year of the hot tech IPO. Already, Uber, Lyft, Pinterest, and Beyond Meat have headlined the group of new companies coming to market. That’s not all. WeWork, AirBnb, and Slack are among other hot tech companies that are rumored to be listing their shares later this year. Some of the world’s most innovative tech companies were finally an investible proposition for young investors. But there’s a dark side to this tech bonanza. Insiders are cashing out with huge profits while dumping risky, high-priced stock…

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Lyft U.S. Business News U.S. Market News Uber 

Time’s Running Out to Bet Against Billion-Dollar Loser Uber’s Stock

By CCN: The first earnings report for Uber stock is about to be released, and UBER is expected to have lost over a billion dollars in Q1. This loss comes despite an expected 20 percent revenue increase to $3.07 billion over last year’s same quarter. Uber Braces for $1 Billion Loss in First Quarter as a Public Company — (@CCNMarkets) May 27, 2019 It isn’t too late to short stock If you want to short Uber stock, time may be running out. Bears have gobbled up 70% of the…

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U.S. Business News U.S. Market News Uber 

Uber Braces for $1 Billion Loss in First Quarter as a Public Company

By CCN: Ridesharing powerhouse Uber Technologies (NYSE: UBER) announced last week that it expects to lose $1 billion in its first-ever quarterly earnings report this Thursday. Uber gave shareholders only a week to prepare for the report, and they will be eagerly anticipating Thursday evening’s results. The shortened week ahead has little else in the way of earnings after the Memorial Day long weekend in the U.S. Meanwhile, revenue is anticipated in a range of $3.04 billion to $3.10 billion vs. $2.5 billion in Q1 2018. Its ridesharing business is…

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Dara Khosrowshahi Elon Musk Tesla U.S. Business News Uber 

Elon Musk is Wrong! Uber CEO Bites Back at Tesla CEO’s Robotaxi Boast

By CCN: Robotaxis will one day litter our streets and highways, but not as soon as Tesla CEO Elon Musk boasts. Uber CEO Dara Khosrowshahi levied this critique ahead of the $70 billion rideshare giant’s disappointing IPO, which saw its stock plunge nearly 8% despite debuting at a surprisingly conservative $45. Dara Khosrowshahi Disputes Elon Musk’s Lofty Robotaxi Timeline Khosrowshahi disagrees with Elon Musk’s lofty claim that the robot-controlled vehicles will be on the road as soon as next year. However, he agrees that self-driving technology will one day upend…

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IPO SoftBank U.S. Market News Uber 

Uber IPO Smacks Saudi Wealth Fund with $200 Million Loss

By CCN: The Saudi Arabian Public Investment Fund (PIF) was one of the first believers in Uber, ponying up billions of dollars to invest in it back in 2018. Now that the ride-sharing company has finally gone public, the fund stands to be one of the biggest losers. The fund bought in at $48.77 a share, far higher than Uber’s debut price of $42. At the time of writing Friday, Uber shares were fluctuating between about $42 and $45. Uber IPO Leaves Mighty Wake The Saudi Arabian fund, which is…

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IPO Lyft nasdaq U.S. Business News U.S. Market News Uber 

‘Totally a Success’? Company Has Its Head Stuck in Sand

By CCN: Lyft’s stock remains stuck in the doldrums, trading 22% below its IPO price of $72. Yet, the company appears to have its proverbial head stuck in the sand about its stock market debut flop. Lyft board member Maggie Wilderotter believes the Lyft IPO on the Nasdaq was “totally a success,” she told CNBC. She said the company has its “heads down,” but could it be possible that they’ve really got their heads stuck in the sand? What part of plunging shares does she not understand? According to Wilderotter:…

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Altcoin News Blockstack Crypto Uber 

2500x Returns:This [Regulated?] Crypto Token Awaits a Staggering Yield

Get Exclusive Analysis and Investing Ideas of Future Assets on Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Blockstack, which has filed with the U.S. Securities and Exchange Commission (SEC) to potentially become the first registered crypto token offering, has revealed some of the details of its planned…

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