The stories I am talking about are not stories about the holidays, they are stories yet again about Uber and Lyft and how they continue to wreak havoc on the for-hire ground transportation industry.
Many allegations have arisen against Uber (mainly) and Lyft over the course of the last two months – including allegations initiated by their drivers, some initiated against their drivers, and some initiated against management by governmental agencies AND their drivers. The most concerning allegations are occurring both in this country, as well as other countries around the world… reports by drivers of improper payments, allegations against drivers by passengers (assault, attempted rape, etc.) and reports from the financial marketplace regarding Uber’s inner circle. Just to name a few: Trade secret theft allegations, a security breach, another quarter of massive losses ($3.3 billion). In addition, Uber just recently settled a class action lawsuit in San Francisco for $7.5 million for violating the Fair Credit Reporting Act when obtaining background checks on prospective drivers.
In Sheffield, England, the fourth largest city in England, Uber lost its license and it is entirely possible that Uber will be thrown out of England entirely. A number of cities and states in the United States have either threatened or denied Uber’s licensing, giving rise to the question of what is happening to one of the fastest growing companies in history, certainly within the for-hire ground transportation industry.
Look for next month’s article when I will address the rise of driverless cars in the for-hire ground transportation industry. Who is investing in it, and who will profit from it?
I’m keeping this month’s column short because I didn’t want to start off the New Year by adding too much to your anxiety – we all deserve a little break from that. I hope everyone had a great holiday season! In addition to celebrating the holidays with my family, I was also fortunate to have my family with me to celebrate a milestone birthday (and I’m not going to tell you which one).
UNTIL NEXT MONTH, HAVE A HAPPY & HEALTHY NEW YEAR!