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News on Medial
Lyft vs Uber: Pick Your Ride
StartupTalky
·
1y ago
Medial
Uber and Lyft are leading forces in the transportation industry, challenging traditional taxi services by offering convenient and on-demand options. While both companies have transformed urban mobility, there are notable distinctions between them. Uber has a larger global reach, operating in over 90 countries, while Lyft is limited to the United States and Canada. Uber also offers a wider variety of services, including Uber Eats, and has a slightly larger number of available ride options. Driver compensation and satisfaction can vary, but overall, both companies prioritize safety and security measures. The future of ridesharing involves navigating challenges such as competition from emerging players, regulatory landscape, and integration of autonomous vehicle technology, while also capitalizing on opportunities like growing urbanization and technological advancements. Ultimately, choosing between Uber and Lyft depends on individual needs and preferences.
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Lyft guarantees weekly earnings to lure more drivers
Economic Times
·
1y ago
Medial
Ride-hailing company Lyft has announced that it will guarantee weekly earnings for its drivers, a first in the US ride-hailing industry. This move aims to attract more drivers to the platform as Lyft competes with larger rival Uber for both riders and drivers. Last year, about 15% of Lyft drivers in the US earned less than 70% of what riders paid, but Lyft will now pay the difference if drivers fall below that threshold. Lyft also announced other measures to improve transparency and provide incentives for drivers.
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Have Uber and Lyft finally found a way to make ride-sharing profitable?
Livemint
·
1y ago
Medial
Ride-sharing companies Uber and Lyft have surprised critics by accelerating towards profitability. Uber recently outlined better long-term financial goals and saw a 15% increase in its stock. Meanwhile, Lyft projected it will become cash-flow positive this year. Both companies have shifted their focus to profitable growth and cost discipline after years of burning through billions of dollars. Ride-sharing has become a utility, and investors are optimistic about the industry's ability to sustain momentum. Despite challenges and cuts, both companies are experiencing market rewards and have room for future growth.
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How Uber and Lyft are gearing up for the robotaxi revolution
Livemint
·
7m ago
Medial
Uber and Lyft are adjusting to the rise of driverless technology by partnering with companies like Waymo to integrate autonomous vehicles into their platforms. They are preparing infrastructure and app features for these vehicles, such as remote controls for car functions. Despite previously abandoning self-driving projects, they see potential in combining human-driven and driverless taxis. As consumer interest grows, Uber and Lyft expect the ride-hailing landscape to evolve, although challenges remain, particularly for human drivers.
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Ola, Uber most data-hungry taxi apps in India, Rapido least: Report
Business Today
·
5m ago
Medial
A report reveals that Ola and Uber are the most data-intensive taxi apps in India, whereas Rapido collects the least data. Around 30% of ride-hailing apps, including Uber and Ola, use user data for third-party advertising. Globally, GrabTaxi and Yandex Go, along with Uber, rank as the most data-hungry, while apps like Rapido and TaxiEU gather less. Sensitive data such as race, sexual orientation, and biometrics are also collected by Uber and Lyft.
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Tesla sets sights on Waymo, Uber in California ride-hail bid
Economic Times
·
5m ago
Medial
Tesla is pursuing approval from California regulators to offer ride-hailing services, positioning itself to compete with companies like Uber, Lyft, and Waymo. The move signals Tesla's effort to diversify revenue streams amidst a decline in traditional car sales. Initially, Tesla plans to use human drivers before potentially shifting to autonomous vehicles. The company's application for a transportation permit is pending, reflecting its strategy to eventually launch a driverless ride-hailing business in key markets.
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NYC Slams Uber, Lyft for ‘Disinformation’ on Driver Pay Hike
Livemint
·
6m ago
Medial
New York City's Taxi and Limousine Commission faces backlash from Uber and Lyft over a proposed 6% pay hike for drivers. The commission accuses both companies of spreading misinformation to rally opposition against the proposal. Uber warns drivers about potential car replacement mandates, while Lyft claims fare hikes are inevitable. NYC officials argue the claims are misleading, asserting the proposal won't force such actions. Uber and Lyft are also under FTC scrutiny for allegedly coordinating to limit driver compensation.
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Goa Government Files Police Complaint Against Uber, Accuses It Of Illegally Operating In State
OutlookIndia
·
2y ago
Medial
The Goa government has filed a police complaint against Uber, accusing the ride-hailing company of operating illegally in the state. The complaint highlights concerns regarding Uber's operations and compliance with local regulations. The government's action indicates its efforts to address potential violations and enforce existing transportation policies in the state. Earlier last week, Uber announced its services in Goa, including airport pick-up and drop
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Uber forecasts gross bookings for second quarter below expectations
Economic Times
·
1y ago
Medial
Uber reported weaker-than-expected first-quarter gross bookings and forecasts for its second quarter, indicating a slowdown in its ride-share and food delivery services. However, the company's profit growth initiatives have shown positive results, with first-quarter core profit surpassing Wall Street expectations. In comparison, rival Lyft reported strong results and projected a robust quarter, citing industry-wide ride-share demand growth and user-friendly features. Uber, with a wider global presence and a range of services, including logistics, expects adjusted core profit for the second quarter to be between $1.45 billion and $1.53 billion. Gross bookings are predicted to be around $38.75 billion to $40.25 billion.
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Uber, Lyft drivers drop price-fixing lawsuit in California
Economic Times
·
1y ago
Medial
Uber and Lyft drivers have dropped a class-action lawsuit in California that accused the companies of preventing them from setting their own fares. The drivers dismissed their case after a setback last year when a judge ruled that they would have to arbitrate their claims individually. The lawsuit, filed in 2022, alleged that Uber and Lyft engaged in illegal price-fixing. The drivers argued that they should have control over setting prices as independent contractors. Both Uber and Lyft have previously won rulings regarding drivers' employment status.
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Uber, Lyft, DoorDash drivers in the US to strike on Valentine's Day for fair pay
Economic Times
·
1y ago
Medial
Thousands of drivers for ride-sharing platforms Uber, Lyft, and DoorDash are planning a strike across the United States on Valentine's Day to demand fair pay. The strike, organized by driver groups, will involve picketing outside airports and Uber offices. The drivers, who are classified as independent contractors, have accused the platforms of taking disproportionately high commissions. The Justice For App Workers coalition, representing around 130,000 drivers and delivery workers, said drivers in 10 US cities would not provide rides to and from airports between 11 am and 1 pm.
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