Op-ed U.S. Business News Uber 

Uber’s Latest Scam Adds Insult to Injury to Investors After $1 Billion Loss

By CCN: As expected, Uber’s earning report delivered a quarterly loss of $1 billion. Management must be working out how to dupe drivers into generating more revenue for the ridesharing play as traders pile on to short the stock. Uber Doesn’t Care About Its Drivers Uber has never been kind to its workforce. Rideshare effectively strips the equity out of a driver’s vehicle by accelerating its depreciation with enhanced use while Uber trumpets that it allows people to monetize their wheels. The ridesharing company promised pie-in-the-sky annual earnings and set…

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IPO SoftBank U.S. Market News Uber 

Uber IPO Smacks Saudi Wealth Fund with $200 Million Loss

By CCN: The Saudi Arabian Public Investment Fund (PIF) was one of the first believers in Uber, ponying up billions of dollars to invest in it back in 2018. Now that the ride-sharing company has finally gone public, the fund stands to be one of the biggest losers. The fund bought in at $48.77 a share, far higher than Uber’s debut price of $42. At the time of writing Friday, Uber shares were fluctuating between about $42 and $45. Uber IPO Leaves Mighty Wake The Saudi Arabian fund, which is…

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Lyft U.S. Business News U.S. Market News Uber waymo 

Why a $100 Billion Valuation Is an Absolute Pipe Dream

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. By CCN: Uber revolutionized cross-town transportation, but that’s not going to help the company make any money. That’s one shocking revelation from the Uber IPO filing, which makes the rideshare…

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new york U.S. Business News Uber 

Uber Drags New York City into Court over Draconian Cap on Ride-Hail Drivers

Uber is suing New York, seeking to overturn the city’s year-long cap on new licenses for ride-hailing vehicles. The company said it’s suing the city because it’s worried that the temporary restriction could become a permanent draconian measure. 12-Month Cap Was Imposed To Curb Congestion In its February 15 lawsuit filed in New York Supreme Court, Uber claims the city is punishing it with a “ban first, study later” approach that’s anti-competitive and hurts customers who live outside of Manhattan. “The City chose to significantly restrict service, growth, and competition…

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