Autonomous Vehicles Shake Up Ridesharing and Family Secrets Unfold
Wedbush advises investors to stay away from Lyft due to the disruptive impact of autonomous vehicles on the ridesharing market.
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Ridesharing
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Waymo Robotaxis Outperform Uber Drivers in Daily Trips, Says CEO
Uber CEO Dara Khosrowshahi announced that Waymo's autonomous vehicles complete more trips per day than 99% of Uber's human drivers, highlighting the growing efficiency and potential of self-driving cars in Uber's network, with plans to expand their deployment in Atlanta and Austin as part of broader investments in autonomous and electric vehicle technology.
Uber Launches 'Women Preferences' Pilot to Enhance Female Rider and Driver Safety
Uber is launching 'Women Preferences' in the US, starting with Los Angeles, San Francisco, and Detroit, to give women riders and drivers more control and safety options, including choosing women drivers and requesting trips in advance, based on successful international implementations.
Uber launches simplified ride-hailing app for seniors nationwide
Uber has launched senior accounts nationwide to make ridesharing easier and safer for older adults, featuring simplified app interfaces, family tracking, and booking options, addressing transportation barriers faced by the aging population.
Minneapolis Faces Rideshare Exodus as Uber and Lyft Depart Over Driver Pay Increase
Uber and Lyft plan to cease operations in Minneapolis after the city council voted to increase driver pay, requiring ridesharing companies to pay drivers at least $1.40 per mile and 51 cents per minute. The companies argue that the increase is "deeply flawed" and plan to exit the city before the pay rise takes effect on May 1, potentially leaving around 10,000 drivers out of work. Some upstart ridesharing companies are looking to fill the void left by Uber and Lyft, asking drivers to pay a monthly subscription fee to use their platforms and keep the entire fare.
"Minneapolis Faces Rideshare Exodus as Uber and Lyft Depart Over Pay Rules"
Uber and Lyft are set to leave Minneapolis after the city council passed an ordinance guaranteeing drivers a minimum rate, which the companies deem "deeply flawed." The ordinance, set to take effect on May 1st, was vetoed by the mayor but later overridden by the council. Both companies argue that the rates were determined without considering a state study on drivers' earnings. The move will leave 10,000 drivers without work, raising concerns about transportation accessibility in the city.
"GM's Autonomous Vehicle Venture: A Potential Flop in the Making"
General Motors' autonomous vehicle subsidiary, Cruise, is facing numerous challenges and investigations following an accident involving a self-driving vehicle in San Francisco. The incident has led to the grounding of Cruise's robotaxi fleet, leadership changes, layoffs, and a reduction in spending and growth plans. Despite the setbacks, GM remains committed to Cruise and believes it can eventually turn the operations around. However, there are growing concerns about the profitability of autonomous vehicles as a business. GM's previous ventures in trendy industries such as ridesharing and mobility have largely failed, raising doubts about the viability of Cruise.
Pixel's At a Glance feature keeps you updated on rideshare status.
Google's At a Glance feature on Pixel phones will now show "Ridesharing" status on the lockscreen, with a toggle added to the main settings list. The feature will display how far away a car is from the user's position, with Lyft and Uber being supported. At a Glance already shows delivery and pickup status from "Food and household orders." Google is also working on loud sound alerts and shortcuts to airport and other transit schedules for the feature.
Former Amazon Exec Takes Over as Lyft Founders Step Down
Lyft co-founders Logan Green and John Zimmer will step down from their leadership roles and take non-executive positions as chair and vice-chair of the board, respectively. Former Amazon tech executive David Risher will replace Green as CEO on April 17 and will have full leadership responsibilities for the company's operations. Risher's appointment comes as Lyft struggles to recover from the COVID-19 pandemic, which caused the company to suffer a $588 million loss for the final three months of last year.
Former Amazon exec named new CEO of Lyft as founders step down.
Lyft's CEO Logan Green and President John Zimmer will step back from their day-to-day roles, with Green becoming chair of the board and Zimmer transitioning to vice chair. Former Amazon executive David Risher will take over as CEO on April 17. Lyft shares rose around 5% after hours on the news.