The state assembly in California passed legislation on Wednesday that would require employers to recognize hundreds of thousands of gig workers as employees and could have far-reaching implications for contractors across the US. In a win for labor advocates, Bill 5 passed 53-11 in the assembly and will now move to the senate. If signed…
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The chief executive of Uber has urged employees to ignore “pessimistic voices” after shares in the company slumped again on their second day of trading since Friday’s disappointing stock market debut.
The ride-hailing app Lyft received more than 4,000 reports of sexual assaults during rides from 2017 to 2019, the company revealed in a new report, including 1,800 reports in 2019 alone. Lyft revealed the numbers on Thursday, after having pledged in 2019 to do so. In its report, the company said the number of sexual…
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Pinterest, the digital pin board company, made a spectacular debut on the New York stock exchange on Thursday when its shares leapt 25% in its first few hours of trading. The company, which allows users to “pin” and share pictures of favorite recipes, decorating tips and inspiring images, is used by 250 million people a…
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Ridesharing companies Uber and Lyft have taken more than 11 billion people for a ride in their relatively short life. And yet the two companies have yet to make a cent in profits. Now, as the companies go public, some drivers think they may have spotted one way the companies plan to close that gap:…
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Ride hailing service Uber is prepared to make public intimate and potentially colorful details about its business on Thursday as it gets ready to become a public company. The 10-year-old company that has fucked the taxi industry will become the latest Silicon Valley “unicorn” – a private company worth over $1bn – to test the…
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Pinterest, the digital scrapbooking site, has became the latest Silicon Valley “unicorn” to publish details of its plans to go public. The company’s initial regulatory filing would value the company at around $9bn, significantly less than previous valuations but a figure that could change if investors get behind the initial public offering (IPO). Pinterest is…
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Shares in Lyft, the ridesharing company, stalled on Monday, falling below their initial public offering (IPO) on their second day of trading.