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In Latest Blow For Uber, EU High Court Rules Company Must Be Regulated As Taxi Service

In another major blow to Uber’s ability to operate profitably within the European Union, the EU’s highest court ruled on Wednesday that the ride-hailing app company is, in fact, a transportation company, and its drivers should be subjected to all pertinent regulations for taxi and livery-cab drivers. The decision opens the US ride-hailing app up […]


Uber Cuts Ambulance Usage And Health Care Costs Across 766 US Cities

In recent months, it seems like there’s been nothing but bad news for Uber, like having its operating licence revoked in London (“not fit and proper”), concealing a massive cyber-attack, price gauging a passenger $14,000 for a 5-mile ride and reporting a quarterly loss of $1.5 billion. Indeed, the company is becoming almost synonymous with […]


Uber Price-Gouges Millennial Passenger $14,000 For 5-Mile Ride

One Millennial in Toronto got the shock of his life last Thursday evening when Uber charged him C$18,518.50 (around US$14,398) for a 5-mile trip from 12 Widmer, ST to 30 The Queensway in Toronto, that should have cost C$12 to C$40. According to Votethehish’s friend, Emily Kennard took to Twitter and said, “My friend was charged 18K for a […]


Amazon UK Drivers Reportedly Forced To Urinate In Bottles To Hit 200 Packages A Day Quota

Amazon delivery drivers in the UK are asked to deliver up to 200 packages a day while earning less than minimum wage for agencies contracted by Amazon. The drivers reportedly have to keep schedules so tight they are forced to skip rest breaks and urinate in bottles, according to an investigation by UK’s Sunday Mirror. […]


“The Silence Breakers” – Time Reveals “Person Of The Year” 2017

President Trump will not be pleased… Two days after releasing the list of contenders for its 2017 "Person of the Year" special issue, Time Magazine has published the issue's cover, revealing its selection to the world. And the winner is… …The #MeToo movement – or, as Time phrases it, "The Silence Breakers" Adding an amusing […]


US Military Invests In ‘Doomsday Genetics’ Technology: “My Main Worry Is That We Do Something Irreversible”

Authored by Mac Slavo via SHTFplan.com, Amid United Nations' fears that genetic extinction technology could be used by militaries, a United States military agency has invested $100 million in the doomsday biological technology that can wipe out an entire species. Scientists now have the knowledge and the tools they need to create and deliver Doomsday […]


Who Will Win The Self-Driving Taxi Race?

Authored by Jon Lesage via OilPrice.com, Ride-hailing firms Uber and Lyft have become transportation platforms for automakers and tech giants to someday bring automated, electrified mobility to the mass market. It’s still years in the making, but both companies are gaining significant support during a year when it looked like Uber could be coming to […]


Uber Reports Massive $1.5 Billion 3Q Loss As Two Investors Drop Out Of New Financing Round

Following an embarrassing revelation from about a weak ago that Uber concealed a massive cyberattack – in which hackers stole personal data from 57 million customers for more than a year – and paid the hackers $100,000 to keep quiet (not to mention the plethora of other scandals of late), investors in the private company […]


Frontrunning: November 30

The thinking behind Kim Jong Un’s ‘madness’ (Reuters); U.S. warns North Korean leadership will be ‘utterly destroyed’ in case of war (Reuters) Senate tax drama enters complicated end-game gambit (Reuters) Corporate Tax Rate in Flux as Senate Prepares to Vote (WSJ) The Senate Tax Bill Has Something for Every Republican to Hate (BBG) Bitcoin Mania: […]


Here Is Your Chance To #AskNeel Kashkari Anything

It’s that time again: Minneapolis Fed president, TARP creator and former Goldman and PIMCO employee Neel Kashkari is holding one of his periodic “open” twitter forums, where he will be taking questions from the general audience at 3:30pm ET. .@neelkashkariwill be taking questions starting at 2:30p CT. Use #AskNeel to participate. pic.twitter.com/3iCBjylw5c — Minneapolis Fed […]


Frontrunning: November 29

North Korea Missile Launch Shows Ability to Reach D.C. (WSJ) Senate Republicans shove tax bill ahead as Democrats fume (Reuters) British negotiators still working on Brexit deal: Treasury minister (Reuters) Trump Retweets Anti-Muslim Videos From Far-Right U.K. Group (BBG) Bitcoin Futures Provoke Pushback From Market Cops (BBG) Saudis Free Detainees in Sign of Resolutions in […]


Frontrunning: November 28

Traders await Powell hearing; Brexit doubts grip pound (Reuters) Fed nominee Powell, once hawkish, now champions Yellen’s focus on jobs (Reuters) Tax drama intensifies as bill faces key vote (Reuters) Trump Appointee Asserts Control Over CFPB for Now (WSJ) Senate Bill in Limbo Amid Budget Panel Drama (BBG) Tough OPEC meeting looms amid specter of […]


Unicorn-holed: Softbank Coalition To Buy Uber Shares At A 30% Discount

And the hits keep coming for the unicornest unicorn in all of unicorn-land… Back in the summer, we suggested – for numerous reasons – that Uber's next round of financing may come at a significant discount to its current $69 billion valuation. Overnight, headlines hit that SoftBank was said to have learned of last year's […]


Cash Burn: The Slayer Of Headless Unicorns And Electric Rocket Ship Dreams

Authored by Mark St.Cyr, Cash burn, did you know that was, or could be: a problem? In days of yore (i.e., 2008 BQE) businesses actually had to survive by selling products and services at a price that was more than they cost to produce, as to cover all other ancillary expenses. (I know, heresy, but […]


Frontrunning: November 24

Online sales surge, shoppers throng stores  (Reuters) A Split From Trump Indicates That Flynn Is Moving to Cooperate With Mueller (NYT) At least 85 people killed in attack on mosque in Egypt’s north Sinai (Reuters) Germany’s SPD Softens Stance on Merkel Talks Amid Deadlock (WSJ) Irish government set to fall weeks before Brexit summit (Reuters) […]