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Why did the prices for Uber/Lyft rise everywhere else too? It wasn't Seattle laws that did that. It's that those companies needed to go from Growth-Mode to Ma
by djbusby 2y ago
Why did the prices for Uber/Lyft rise everywhere else too?
It wasn't Seattle laws that did that.
It's that those companies needed to go from Growth-Mode to Margin-Mode. They could no longer sell VC dollars for dimes.
- WalterBright 2y agoYes, it was the Seattle laws that did it locally. The food delivery gig drivers were not Uber/Lyft.
- gruez 2y ago>Why did the prices for Uber/Lyft rise everywhere else too? Presumably it rose in Seattle higher/faster than it would otherwise. The source that he provided in a sibling comment says sales dropped "immediately", which seems to corroborate this. It's lazy to argue "well prices rose elsewhere too so the minimum wage law couldn't possibly have had an impact"
- djbusby 2y agoWell, I don't think I'm lazy. IIRC prices were already moving up and the rent-a-car-apps were exiting. And Uber/Lyft were very far on funding, needing some margin. And then there was this other trigger event of worker pay. Which is a nice corporate spin opportunity. And we've seen that pattern 100s of times (blaming workers for price increase).