New Pay Rules, Safety Reports and a Departure at Lyft

Welcome to this week’s Gig Pulse! This week, we delve into the New York City Taxi and Limousine Commission's upcoming pay rules aimed at protecting drivers from wage-lowering lockouts by Uber and Lyft. We'll also highlight Lyft's latest safety report and Uber's new update for fare and wait time searches. Additionally, we'll explore Vancouver's new public shared e-scooter system launching soon. On the logistics front, we'll examine Kuehne+Nagel's innovative solution for the healthcare market, and finally, we'll provide insights on Instacart's and Uber's upcoming financial results announcements. Stay tuned for all the latest updates and developments!

Rideshare:

The New York City Taxi and Limousine Commission (TLC) is developing new pay rules for rideshare drivers to combat wage-lowering lockouts by Uber and Lyft, according to Bloomberg. The TLC plans to introduce these rules in the coming months and is also negotiating with gig companies to address the issue without changing regulations. Commissioner David Do emphasized the TLC's commitment to supporting drivers and ensuring fair practices by high-volume companies. New York mandates that rideshare companies pay drivers for both idle and active driving time, calculated using an industry average formula. A recent increase in rideshare driver applications, following the lifting of a cap on new permits, has resulted in more drivers for companies to pay.

Lyft announced that Kristin Sverchek, the company's President, will depart as an employee effective August 20, 2024. She will continue to serve as a nonemployee advisor until November 30, 2024. Her departure is not due to any disputes or disagreements with the company, its board, or management.

From 2020 to 2022, Lyft's second safety report revealed an increase in motor vehicle fatalities and fatal physical assaults, alongside a decrease in the most serious types of sexual assaults compared to 2017–2019. During this period, Lyft provided 1.41 billion rides, 337 million fewer than the previous period.

Uber has introduced an update allowing users to search average fares and wait times for trips in other cities. This feature aims to help people planning trips or vacations by providing cost visibility for Uber rides at their destination. The update will cover approximately 10,000 cities worldwide and rolled out on Tuesday, July 16th.

Vancouver is set to launch a public shared e-scooter system later this summer, operated by Lime Technology. The U.S.-based company will initially install e-scooters and docking stations in the Hastings-Sunrise and Grandview-Woodland neighborhoods, with plans to expand downtown and citywide through 2024 and 2025. Since the provincial pilot program began in 2021, e-scooter usage has surged, with a 25% year-over-year increase reported in 2023. E-scooters now account for 3-11% of "bike-like devices" on Vancouver's roads.

HopSkipDrive, a technology company focused on addressing school transportation challenges, is expanding to five new cities this fall: Bakersfield, CA; Grand Rapids, MI; Pittsburgh, PA; Richmond, VA; and Tucson, AZ. The company is partnering with dozens of new clients, marking significant growth following the 2023-2024 school year.

Meal & food delivery:

Thrive Market has introduced new quality standards for both its own brands and partner brands to help shoppers find suitable products. With approximately 5,500 products on its website, Thrive Market is implementing a five-pronged approach to ensure shoppers can trust the quality of all items sold.

Instacart will announce its second quarter 2024 financial results after market close on Tuesday, August 6, 2024, and will host a conference call at 2:00 p.m. PT (5:00 p.m. ET) on the same day, with a replay available on its Investor Relations website. Uber Technologies, Inc. will also hold a conference call to discuss its second quarter 2024 financial results on Tuesday, August 6, at 5:00 a.m. PT (8:00 a.m. ET).

Logistics, Travel, etc:

Kuehne+Nagel has introduced a solution for the healthcare market, aiming to create more sustainable and cost-effective supply chains, essential for precise temperature control and timely delivery. Their cross-dock concept involves loading and unloading sea freight temperature-controlled containers at a GxP-compliant warehouse near an ocean port, enabling quick return of empty containers to the port. These containers are then optimized for road transport to their final destination, reducing the need for multiple containers and lowering detention charges. Kuehne+Nagel has expanded its network to include cross-dock facilities in Philadelphia, Atlanta, Wilmington, and Los Angeles, with four more locations opening in 2024. All facilities offer multiple temperature ranges and comply with Kuehne+Nagel’s HealthChain certification, ensuring high standards for transporting, handling, and storing healthcare products.

Iron Mountain Incorporated, a global leader in information management services, has elected Andre Maciel to its Board of Directors, effective July 22, 2024.