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> The entire viability of these businesses exists within the margin created by stripping away any vestige of traditional employment stability That's a stretch.
by smallgovt 7y ago
> The entire viability of these businesses exists within the margin created by stripping away any vestige of traditional employment stability
That's a stretch. Even if Uber/Lyft were forced to employ their drivers, they would most likely just raise prices and cut marketing costs. Sure, they'd be much smaller businesses, but they'd very likely still live on.
Uber pays their drivers ~$7b a year. Employing them would cost an extra ~$2.1B/yr. Self driving cars are probably coming in 10 years, so even if they didn't increase prices or make any other changes in their operating model, they'd need to raise $21B to hold them over. That's not a small amount of money, but Uber's market cap is $54B.