4 ms·
The companies aren’t unprofitable by design, that has been repeatedly disproven. Their service is profitable in many cities. Prop 22 makes sense exactly becaus
by rreichman 6y ago
The companies aren’t unprofitable by design, that has been repeatedly disproven. Their service is profitable in many cities.
Prop 22 makes sense exactly because those things shouldn’t be tied to employment. The state should tax businesses more and offer the benefits itself.
- rainyMammoth 6y agoThat is YOUR politically biased vision of how medicare and social security should work. It is not how the system currently works. I'm not against moving to such a system, but it cannot be applied selectively to a couple few companies that would profit from it (in this case Uber, Lyft, Doordash etc). Uber and Lyft are unprofitable by design. They are only profitable if you don't account for the huge driver's incentives and other users promotions that are always written off as a "one time thing". (I looked at Uber's financials). If they want to become profitable, they need to increase price and most users would stop using it all together. They don't want to go this way as it would instantly make the stock tank.