Uber’s path to profitability, Elizabeth May steps down from her post, and more top news
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Chief executive Dara Khosrowshahi has outlined Uber’s road to becoming profitable, which he anticipates will happen in 2021. As the ride-hailing and food delivery company confronts “unrelenting challenges from competitors and regulators across the globe,” its revenue increased 30% to US$3.8 billion for the quarter, while its losses widened to $1.2 billion, compared with $986 million this time last year. Since Uber’s IPO last May, Khosrowshahi has cut more than 1,000 workers, but steadily increased both rides and deliveries made. ? Here’s what people are saying.
Green Party leader Elizabeth May has stepped down from her post after 13 years at the helm. May will stay on as an MP, while Jo-Ann Roberts, the party's deputy leader, will be the interim chief until a new one is elected in October 2020. During her tenure, May went from having no seat in the House of Commons to participating in federal leader debates and becoming one of three Green MPs. Over 1.1 million people voted for a Green candidate in this year's federal election. ? Here’s what people are saying.
Hundreds of thousands of Canadians have been unwittingly exposed to high levels of lead in their drinking water, according to a nationwide investigation, leaching from old and corroding pipes that connect homes to the main water supply. Tests by universities and media organizations found that a third of tap water exceeded national safety guidelines of five parts per billion, The Toronto Star reports, affecting residents in cities such as Montreal and Regina. National mandates don’t require lead checks for drinking water, and many water providers aren’t testing it at all. ? Here’s what people are saying.
Spotify is launching a new app for children. Spotify Kids, currently available as part of a beta launch in Ireland, is a “playground of sound" for those aged three and older, according to Chief Premium Business Officer Alex Norstr?m. Content on the ad-free app, which includes singalongs, lullabies and soundtracks, is filtered and curated by Spotify editors. The pioneering streaming site returned to a profit last quarter thanks to the introduction of budget-friendly plans and a significant round of cost cutting. ? Here’s what people are saying.
Personality tests may have their flaws, but used properly they can benefit both the tester and the testee, according to BBC Worklife. Business coaches say that they "prompt self-awareness" and much-needed communication between colleagues. Yet, critics believe that many of the tests were created by authors with no formal psychology training and that they don’t make accurate predictions about employee behaviour. ? Here’s what people are saying.
Idea of the Day: It may be as important to "unlearn" a skill, as it is to learn a new one, says author and speaker Bernard Marr.
"What worked yesterday isn’t necessarily the best strategy for tomorrow, so openness to unlearning skills is also important."
What's your take on today’s stories? Share your thoughts in the comments.
Regulatory Expert
5 年Reviewing Uber's recent losses and the commentary about the company's prospects I'm struck by three things: 1) Uber is swimming upstream against several important social developments, including concerns with the gig economy and the workers trying to earn a living in it; 2) The company's official statements cast regulators in an adversary role, rather than as a permanent feature of every viable business sector; and 3) I haven't been able to find a rationale underpinning the company's forecast of profitability by 2021, apart from layoffs. Taken together these points don't amount to a very forward-looking corporate brand. It may be that the company's initial sheen from its bold, disruptor business model has worn thin. The way forward should include assessing how Uber can be seen as a force for good in the communities and countries it operates in, which could help it make peace with regulators. And maybe it's time to dump food delivery from its business model?
Recovering MBA
5 年I’m INFJ, the most oddball of the sixteen Myers-Briggs types. It’s great how personality tests encourage reflection, but they can also kindle personality envy. If only I were an ENTJ, then I could be a CEO rather than a monk.