Uber hit with another lawsuit—this time, over drivers’ pay; It's a good time to be a robotics company, and more news
Lorraine K. Lee
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Also: Facebook gets another million advertisers, and an activist investor wants Whole Foods to kick it up a notch. Read on…
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Another day, another lawsuit: A lawsuit against Uber alleges that its months-old upfront pricing model is ripping off drivers, showing riders a higher price than what the drivers see. Uber, the suit alleges, then pockets the difference. Drivers have been complaining for a while, but the lawsuit was only recently filed.
DoorDash will pay $5 million to settle a class-action suit brought by its delivery workers who say they were misclassified as contractors. It's a similar story that continues to affect on-demand companies like Uber and Lyft.
Five million business are now advertising on Facebook, an "important milepost" that shows that there's still room for growth, Reuters reports. That's up from four million since last September for the social media giant, which is trying to court more small business in what amounts to a two-way fight for digital ads with market-leader Google.
Foxconn Technology Group of Taiwan is ready to pay as much as $27 billion for Toshiba’s computer-chip business, Wall Street Journal reports. Shareholders agreed to put the unit for up sale to cover charges related to the conglomerate's nuclear unit.
Indian e-commerce giant Flipkart raised $1.4 billion from eBay, Microsoft, and China's Tencent this week. The investment was the largest in the company's nearly 10-year history. Flipkart, often described as the "Amazon of India," is now worth $11.6 billion after the deal.
Activist investor Jana Partners has built a stake of 9% in Whole Foods and is pressuring the organic grocer to accelerate turnaround efforts and explore a sale, The Wall Street Journal reports. Whole Foods’ troubles don’t come as a surprise: It’s been struggling “to make the transition from highflying upstart with a loyal following into a large, national chain.”
It’s a good time to be a robotics company: Wall Street investments have jumped from $200 million last September to $1.12 billion today. According to analysts, artificial intelligence and deep learning will be among the most important investment themes in the next five years.
Cover Art: Uber drivers protest the company's recent fare cuts and go on strike in front of the car service's New York offices on February 1, 2016 in New York City. The drivers say Uber continues to cut into their earnings without cutting into its own take from each ride. (Photo by Spencer Platt/Getty Images)
Master Thermographer at Source Energy Infrared LLC
7 年If Uber did all the right things and you had a bad experience all the time, than Uber sucks all the time. If Uber screws people over and you only get a Great service, than Uber is awesome ! So.....Enjoy it while it lasts or buy a car and get on with what's important in life . Which is nearly everything else. Drop the ?? . Lol
Doing Good in Community
7 年ripping drivers off one ride at a time, millions of times a day
A.I. Writer, researcher and curator - full-time Newsletter publication manager.
7 年You're going to hear a lot more in the future from SoftBank and Foxconn. As we slowly move beyond mobile , advertising changes in a new kind of company comes to the foreground in tech. This is why so many people are anticipating more news on building 8 at the Facebook conference coming soon. Amazon Echo is teaching us how valuable the future devices are in the race to scale artificial intelligence in new ways and monetize the next Channel. Facebook is late in the game, Amazon Prime video is scaling too fast.
Vice President at Prosperity Bank
7 年Joseph Callahan