Make money with UBER, Short it's stock. *disclaimer below*

Make money with UBER, Short it's stock. *disclaimer below*


*** This post is for educational purposes only and is not meant to be construed as investment advice. *** However here is some free investment advice. Don't invest more money than you can afford to lose, you should consult a qualified investment advisor when making investment decisions and lastly, you should follow a sound investment strategy.  

Uber Hit with Driver Classification Class Action Leaning on Proposed Dynamex Law

 

by Corrado Rizzi

"Uber has been hit with a proposed class-action lawsuit in California over its alleged misclassification of drivers as independent contractors. The filing of the 15-page case comes as a new proposed California law stemming from a state Supreme Court decision in Dynamex Operations W., Inc. v. Superior Court awaits Governor Gavin Newsom’s approval."

I drive for Uber and Lyft almost daily and many of the conversations I have with my riders often pertains to the new California law known as AB5. People often have mixed feelings about it. On one hand, most riders know that rideshare drivers are getting shafted, but on the other hand, people have become dependent on the service to get around.  

Both riders and drivers want a workable solution. It seems that Uber has pinned its hopes on self-drive taxies like the Johnny Cab from the movie Total Recall https://www.youtube.com/watch?v=eWgrvNHjKkY .

I see only two small issues with this approach to saving Uber. First the technology doesn't actually exist which could be a small problem, and secondly, based on my conversations with the people I've talked to while driving actual passengers, no one would take one! Here's why. While the news media loves to report on the interactions between drivers and passengers when things go wrong those unfortunate events are few and far between. The riders I've talked to love the service and have positive feedback on their experiences. The biggest complaint I get from riders has to do with the Apps navigation because the apps can't think for themselves and a human driver is vastly superior to an algorithm when it comes to navigating around obstacles, detours, pedestrians and rush hour traffic. 

Here is an actual example of one of my fares. A passenger I picked up had to be at the airport which was about 40 miles away and his flight left in an hour to and important business meeting. I assured him that this wouldn't be a problem because I do airport runs all the time and I know a couple of time-saving shortcuts. What I didn't know at the time was that I would run into a detour because of road work being done and the traffic delay would have been close to thirty minutes. I ended up driving my own route taking us about five miles out of the way but I made up the time taking back roads until I cleared the backup. After that the way was clear and I did keep my promise to my passenger, he made his flight and was relieved and happy with UBER and his driver. I don't believe that a Johnny cab could or would have done the same thing. 

A hard lesson for rideshare companies is that like any other company they depend on their human assets to make things happen. Rideshare companies have angered their most valuable assets and have left the field open for newcomers like Tryprides.net to come in and fill in the gap left by UBER and Lyft once California's AB5 comes into effect January 1, 2020.  

People will always need to get to the places they are going to and it won't matter to the riders which company the driver works for be it him/her self with tryprides.net Uber Lyft or whatever new company comes along. Happy drivers tend to make riders happy and that's really what matters most.  

 

 

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