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Money This is why the US election for Uber and Lyft will be fateful day

05:40  21 october  2020
05:40  21 october  2020 Source:   finanzen.net

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Uber and Lyft are turning to voters as a last resort to maintain their status as contractors for drivers in California after a judge granted a preliminary injunction Ro Khanna, D-Calif., say drivers really want the flexibility that Uber and Lyft have unfairly claimed would be diminished under an employee model.

California Uber and Lyft drivers think applying for expanded unemployment benefits could undermine fight to be labeled as employees instead of independent Some Uber , Lyft drivers fear companies will use unemployment benefits against them. Published Sat, May 23 202010:15 AM EDTUpdated Tue

The date of the US presidential election is getting closer and closer. But on November 3rd it will not only be decided who will be at the top of the USA for the next four years, but also whether the transport service providers Uber and Lyft will have to fundamentally change their business model.

Ralph Orlowski/Getty Images © Provided by Finance.net Ralph Orlowski / Getty Images

• Proposition 22 will also be voted on in California on November 3rd in the US election

• Dispute over status of Uber, Lyft and Co. drivers before decision

• California with possible pioneering role for the entire USA

If the people in California go to the polls in just under two weeks, they not only cast their vote for the future US president, but also decide on several bills. One of them is Proposition 22, which was launched by the transport service providers Uber and Lyft in response to an existing California law. Because according to California law, Uber, Lyft and Co. should actually treat their drivers as employees - and not as subcontractors as before. An attempt had already been made in August of this year to enforce the application of this law, but the transport service agents obtained a delay at the last second. Proposition 22 is now to be finally clarified in a referendum on November 3, which labor law status the people who provide services within the framework of app-based companies have - and which services they are entitled to.

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Lyft reiterated that threat in a blog post Thursday morning, saying: " This is not something we Both companies now have five days to agree to the process laid out by the court and two weeks to “ Uber and Lyft are threatening to kill jobs in California. I believe the companies are trying to force us into a

And Uber had to contend with unforeseen factors, including fraying trade talks with China that spooked the stock market in the same week that the company decided to go public. For Uber , the timing was terrible. The region was one of its most promising growth areas, and its competition had ramped up.

Focus on driver pay and benefits

So far, Uber and Lyft have treated their drivers as self-employed. Should Proposition 22 be adopted, these individuals would continue to form a separate class of workers with separate rules. Because according to the "San Francisco Chronicle" in this case, the state law and every local law that relates to app-based transport or delivery services would be permanently undermined.

If Proposition 22 is rejected, however, Uber and Lyft would have to submit to California law and make their drivers employees - with costly consequences for companies. Because then the drivers would be entitled to the applicable minimum wage, paid overtime and other social benefits, such as sick pay and allowances for disability and unemployment insurance. A hard blow for the driver service agents who are still not profitable today. According to the news site "Pymnts", critics also accuse Uber and Lyft of treating drivers as subcontractors in order not to have to pay social benefits. The two startups have been able to save more than $ 400 million since 2014, according to information from "Netzpolitik", simply by missing payments into unemployment insurance.

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US Election . UK. New York has become the first major US city to approve a cap on ride-hail car licences and set minimum pay conditions for drivers. The bill will impact popular app-based services like Uber and Lyft , who have both spoken out against it.

“I mean that Uber also utilizes that platform for Uber Eats. So in terms of economies of scale, you could see Morningstar estimates the earliest Uber and Lyft could become profitable is 2022, with "Also, you cannot use the new sleeper berth rule to try to extend your 14-hour day [when] the longer

Should Proposition 22 be rejected, the transport service providers would have to reorganize their business and in addition charge higher prices from the users in order to cover the rising costs - or leave California, as they threatened to do in August. However, they clearly want to prevent these options. For the campaign "Yes to Proposition 22", Uber, Lyft and other companies with a similar business model have already spent a record sum of more than 185 million US dollars in recent months, according to "MarketWatch" - an indication of how important the decision is for them Companies is. The opposition, made up of trade unions and members of the Democratic Party, however, had their campaign cost only ten million US dollars.

Uber with an aggressive election campaign

Uber tries particularly aggressively to influence the mood of the voters in his favor. On Twitter , users of the app report on push messages calling for support of the proposed law, while others are shown thought bubbles with "Yes to 22" when choosing a vehicle.

"Swing States": These states could decide the US election

 Who will be the next US president will be decided in a few US states. In many of the 50 states, the same party always wins, but about a dozen are highly competitive. In the election on November 3rd, eyes will be on these "battleground states" or "swing states". The Republican Donald Trump and his Democratic challenger Joe Biden also campaigned for votes there in the final spurt of the election campaign.

Uber and Lyft had argued that they should not be considered "hiring entities". Judge Ethan Schulman disagreed, and said this contradicted An Uber spokeswoman said: "The vast majority of drivers want to work independently, and we 've already made significant changes to our app to ensure that remains

Load up the car with all your friends and get to the polls. The ride is on us . Use the promo code "VOTEPA" in LYFT or UBER on Tuesday, Nov 8th for off

It's not even clear to me why this car has a thought bubble pushing Prop 22, but the constant propagandizing at every turn is pathetic and desperate. Pay your workers! Protect your riders! # NoOnProp22 pic.twitter.com/565h8eSoaC

- Veena Dubal (@veenadubal) September 29, 2020

Uber CEO Dara Khosrowshahi also drums in a blog post for the acceptance of Proposition 22. On the one hand, he speaks of "High costs" that would arise if one were to make a driver an employee, but on the other hand it also fuels fear of loss of income. Because, according to his account, hundreds of thousands of the total of around 1.2 million Uber drivers in the USA would lose the opportunity to work overnight if Proposition 22 were rejected. "If Uber were to hire [...] drivers, we would only have 260,000 available full-time jobs - and therefore 926,000 drivers would not be able to work with Uber in the future," said Khosrowshahi. Especially now that the US economy is in a fragile state due to the corona pandemic, this is the wrong way to go, the Uber CEO added. In addition, most drivers do not want to be treated as employees, but enjoy the flexibility that the current arrangement brings with it.

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Hundreds Of Protesting Uber & Lyft Drivers Halt Traffic On FDR Drive Over App Restrictions - Продолжительность: 15:31 Dustin Is Driving 11 244 How We Make 00 EVERY WEEK With DoorDash + Tips For Success - Продолжительность: 10:02 Q and Quay 10 188 просмотров.

Novelty means that Lyft and Uber are doing something original. But novelty also complicates the IPO pitch. The broad question and the basis of whether to own shares is whether Uber or Lyft will become lasting, large and valuable.

Voting in California with symbolic character

Initially, on November 3rd, only the treatment of Uber and Lyft drivers in California is up for decision. However, according to the "San Francisco Chronicle", California often has a pioneering role for the entire USA. "What is happening here is incredibly important for many states that are considering such legislation," William Gould, professor emeritus at Stanford Law School, told MarketWatch. The outcome of the presidential election should also influence the further fate of Uber and Lyft. Because the Californian state parliament, which wanted to enforce the implementation of the current legal situation as early as the summer, is dominated by Democrats. According to MarketWatch, Democratic presidential candidate Joe Biden is also an opponent of Proposition 22. If he wins the election as US president, the standard for classifying workers in California could possibly be incorporated into national law, Gould believes. For the previous business model of Uber and Lyft, that would probably be the death knell.Redaktion finanzen.net

Californians overturn law on Uber and Lyft drivers - stocks rise double digits .
In a referendum, voters in California overturned a bill that gave drivers the status of employees on platforms like Uber and Lyft. © Provided by Finance.net Andrew Burton / Getty Images Car service brokers Uber and Lyft had announced that they would cease or at least restrict operations in the state if it remains in force. platforms like Uber and Lyft - but also food delivery companies like DoorDash - treat drivers and deliverers as independent entrepreneurs.

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