This Week: Uber Lost $5 Billion Last Quarter, Hiring Freeze On Engineers

This week in rideshare news, Uber lost 5 billion dollars last quarter which lead them to initiate a freeze on hiring engineers. Uber also transformed 24,000 volvo cars into self-driving vehicles.

 

Uber initiates a hiring freeze live top the second quarter expectation and Uber Orders 24,000 Volvos to convert to driverless cars. It’s this week and rideshare news. Uber is in the news a lot in the past 24 hours initiated a hiring freeze for engineers this week. In fact, they said any job interviews that were scheduled for this week. Many say that it’s a move to prove profitability to Wall Street as the company has lost a reported 5.2 $3 billion. Revenue Growth has dropped 14% Uber shares fell 6.4% and as a Friday. Uber’s IPO share is below $45 per share. Lyft didn’t seem to do as bad as Uber. They reported $867 million versus the $809 expected loss per share was 68 cents per share. The expected loss dollars 74 per share shares climbed up to 13% Lyft expect revenue to reach 3.47 and 3.5 billion this year and reports 21.8 billion active riders on the platform.

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If you’re thinking about purchasing rideshare stock Lyft might be a good choice. Uber and Lyft hint that they may start charging more for rides now before you get excited. This may not be a pay raise and Lyft officials told investors that they were going to raise rates and an effort to boost revenue per rider and addition Uber CEO Dara said that they are fully focused on increasing profitability for Uber.

Oof, Uber Lost a Ridiculous Amount of Money Last Quarter.

Both companies have entered into the scooter game, self driving cars, transit agency partnership and on demand delivery to really outdo one another, but both companies are still losing a lot of money. Found this article in Wired magazine if you’re interested in hearing more about how they’re going to increase profitability, that link is in the description and now for my favorite part.

The What Would You Do?

This one is pretty serious and it’s probably something that she may encounter in the future. A Lyft driver was picking up a passenger for a shared ride and she saw a family approach. There was a man and woman and a child. She said immediately she knew this ride wasn’t happening and so she told the couple, I can’t take you guys because it’s only one person. The woman said, there’s no one else in your car. You can take me and my husband and my child doesn’t count. He said that she wasn’t going to be able to take them. The child didn’t have a car seat and that she would have to order another car. The woman said that people do this all the time. It’s not a big deal and that she was bugging her. Man, gets mad, kicks the car a few times, actually throws a drink at the car, calls her a broke B, all these different things and completely goes off.

The woman still sitting there and says she’s going to call. The police warns them over and over and let me add, when he threw the drink at her, her window was down so she got the drink all over her like inside and outside the car and there’s pictures. Apparently the police came, they confiscated the Dash Cam and they said if they found this God, they would arrest him. I’m really sad to hear that this happened to this driver, but I think that there’s a few things that she should have done differently. The first thing being that she knew she wasn’t going to be able to pick up this family. My thoughts are, she could have told them immediately as they approached and then left. There’s no reason to get into an argument. You already know they were violating this rules in two ways. One, there’s three people and number two, you see a young child and there’s no car seat.

There’s no need to explain what’s going on here. And if you have a dashcam or even a camera, then you can take that evidence and use that to refute anything that they might say to you. I find it remarkable that she actually stayed and argued and endured the abuse and that kind of thing. And maybe because she just thought maybe she could reason with them and talk to them because most people are reasonable. But you never know the who the hot heads are, who the crazy ones are. Especially in people started throwing drinks and  crazy and kicking cars, they really don’t have much to lose. And the last thing anyone should do is risk any kind of abuse or vandalism over a $5 ride. So if this happened to you, what would you do in this case? Let me know in the comments. And that is it. This week, if you liked this video, please give me a thumbs up. Your engagement is very important. Leave a comment if you’re watching, and if you like what you see, if you’re not subscribed to the Rideshare Guy’s Channel, please subscribe. There’s news resources and top tips from a bunch of awesome collaborators. If you’re curious about who I am or what I do, my name is Cecily I have a channel called drive, Google drive. You can hit me up on Youtube or Facebook. That’s it. Have a great weekend. Bye guys.

 

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Taking the FarePilot app out for a spin!

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