Uber Technologies Inc (UBER) Share Price

Uber now delivering prescriptions for Alto Pharmacy pre-IPO Pharmacy giant.

Eddie Doyle, 36, a writer and content creator in the Philadelphia area who is mostly retired from driving for Uber and Lyft, said that on balance, most workers whose gig involves driving are probably actually losing money due to fuel expenses and the deterioration of their vehicles.

Doyle, who began driving in 2015, said pay used to be better. These days, Doyle said Uber or Lyft drivers in a major American city likely need to work 60 to 80 hours a week—splitting driving time among multiple apps—to earn a decent wage.

“I think the vast majority of [gig workers] are struggling,” Pedro Santiago, 42, a driver based near St. Louis who splits his working time among five app-based gig jobs, told The Epoch Times.

Sizing Up the Gig Economy
The world of employment was revolutionized with the launch of Uber Technologies Inc. in 2010. The smartphone application offered a new competitor to the taxicab industry by linking a paying passenger with a private driver using his or her own car.

Uber’s meteoric rise bred dozens of other applications, bringing the gig work concept to other business areas. Today’s smartphone-powered gig economy includes everything from odd jobs around the house to legal work.

The largest services are still focused on transportation. Uber and Lyft Inc. dominate the on-demand ride business, while DoorDash Inc. and Maplebear Inc., better known as Instacart, lead the way on delivery services for food and other goods. Uber has branched out into food and grocery delivery too. DoorDash, Instacart, Lyft, and Uber are now publicly traded.


A traveler walks toward the Uber rideshare vehicle pickup area at the Los Angeles International Airport on Feb. 8, 2023. Mario Tama/Getty Images
Massive retailers like Walmart and Amazon joined in with their own on-demand platforms: Spark Driver and Amazon Flex.

Gig workers are recruited with the promise of flexible hours to earn additional income. However, as independent contractors, gig workers are not entitled to traditional employment benefits like health insurance, and they must take on additional occupational risks, equipment costs, and tax burdens.

The U.S. Department of Labor doesn’t measure the number of people working gig jobs. But its Bureau of Labor Statistics does keep track of the number of people working multiple jobs.

According to the BLS’s September Employment Situation Summary, about 8.3 million Americans worked multiple jobs in August 2024. That was an increase from about 7.8 million in August 2023. In both years, most workers with two jobs had a full-time job and a part-time job.

In a 2024 economic impact report, Flex, a federal lobbying association supported by DoorDash, Grubhub, HopSkipDrive, Instacart, Lyft, Shipt, and Uber, estimated there were about 7.3 million “active drivers and delivery partners on major rideshare and delivery platforms” in 2022.

Representatives of Flex did not respond to a request for comment from The Epoch Times.

Other estimates said the number of gig workers is much higher.

A 2022 report published by the consultancy McKinsey & Co. surveyed workers and estimated as many as 58 million Americans, or 36 percent of the U.S. workforce, did some gig work that year.

According to the McKinsey survey, gig workers are most likely Latinos between 18 and 24 with less than a high school education, making less than $25,000 per year.

Santiago said the sheer number of people doing gig work demonstrates the struggles of most Americans.

“Most people come to [gig work] because they either lost a job, or the inflation of their rent and groceries has just gotten too out of hand where they’ve got to make an extra $200 a week,” Santiago said.

Struggling to Make a Living
Some gig workers say they are being left behind. They complain of low pay, unreliable job offerings, and a lack of benefits.

In an email, Rafael Espinal, executive director and president of the Freelancers Union, said many freelancers and gig workers in the United States say their lack of job stability and benefits “prevents them from reaching key life milestones.”


An Uber and Lyft driver carries a sign as he joins other app-based drivers and delivery workers in a protest at the former headquarters of Uber Technologies in New York City on March 29, 2022. The protesters demand fair pay in response to rising gas prices. Michael M. Santiago/Getty Images
“Inconsistent income and the high cost of health care and housing make it difficult for them to save for retirement, buy a home, or start a family,” Espinal said. “This economic uncertainty affects not only their day-to-day lives but their long-term goals as well.”

Espinal said the Freelancers Union represents more than 700,000 members across the country. It provides access to insurance, legal services, and financial planning for its members. He said many of its members work multiple part-time jobs “to make ends meet.”

Avedian, a Wall Street veteran and a senior contributor to the industry analysis and advice website The Rideshare Guy, said gig work is designed as a so-called side hustle and cannot replace a full-time job for most people.

“If you’ve chosen gig work as a career, you have made the biggest mistake of your life,” Avedian told The Epoch Times.

Both Doyle and Avedian said they believe the active-hour pay structure is misleading to gig workers. Doyle said gig work companies succeed by taking advantage of workers’ ignorance of the risks and costs inherent in gig work.

Espinal said gig workers tell him they are frustrated with their lack of bargaining power as independent contractors even though gig economy companies hold “significant control over their working conditions.”

In its Securities and Exchange Commission filings, Uber describes the classification of its drivers as “employees, workers, or quasi-employees” as an “operational risk” to its business. The same document details the various legal and political challenges involved in maintaining independent contractor status.

Uber’s latest quarterly filing, published in August, said that if drivers win the reclassification through legal means or the passage of new laws, the company would incur significant expenses for compensating drivers and would pass its elevated costs onto riders. Uber also argues reclassification would limit its ability to find workers due to a loss of flexibility.

The second-quarter reports filed by DoorDash, Instacart, and Lyft make nearly identical statements about classification and describe similar legal and political challenges to gig workers’ contractor status.

Profitability and the Future
The gig economy shows no signs of slowing down. Americans are used to the on-demand goods and services provided by gig workers, and corporations are eager to cut labor costs by expanding their use of independent contractors.

The latest earnings statements show Uber, Lyft, and Instacart all turned a profit in the second quarter of 2024.

According to their SEC filings, Uber collected $361 million in profits during the first six months of 2024, while DoorDash reported $191 million in profits. During the same period, Lyft lost about $26.5 million, while DoorDash lost $180 million.

Read the rest here...

https://www.zerohedge.com/economics/why-app-based-jobs-dont-pay-they-used

Enjoy plenty of UBER rides pd with your Ubers stock profits

friends told me a little secret, i stopped using uber black suv in some markets, i order xl, and in 80% of the time i get uber black suv for the price of xl, amazing company!

Hey Uber, did you hear TSLA robotaxi is coming. 8/8/24? Sorry this is a Short notice if you know what I mean..

~loaded 3/8 $100 calls @.07

~sold the 3/1 $90 calls @.27c :)

UBER new 52 week high

~bought the 3/1 $90 calls @.09c

~yeah I plan to play here for awhile.

UBER new 52 week high

Great Earnings Report! $UBER

Good Numbers, Good Business!!

Let's Rock!

~well sell the news here for now

Yes Sir, Let's Rock! I Like 90$!!! $UBER

~UBER bought 2/16 $90 calls @.07c

UBER new 52 week high

Almost hit 70.... Let's Rock! $UBER

UBER new 52 week high

UBER new 52 week high

UBER new 52 week high

Nice flipper

Anyone holding from $20

UBER new 52 week high

I wonder if Uber is aware of http://nextminute.app as they try to compete with TaskRabbit, Angi etc. Next Minute is patented and could really give Uber an edge.

UBER new 52 week high
Compare to Marathon Digital

All aboard…. On our way to $70 by year end 🚂

Uber going to make me rich! I think this is the only stock I have worth holding onto for long.

UBER new 52 week high

All aboard….. uberstrong 🚙🤘🏾

All aboard to $60+ let’s take a ride and keep this train a chugging

UBER new 52 week high

UBER new 52 week high

UBER new 52 week high

UBER new 52 week high

Autonomous rides are arriving on Uber with Waymo
https://www.uber.com/newsroom/waymo-on-uber/
Ready to roll? Your next Uber ride may be in a fully autonomous Waymo vehicle.

Starting today in Phoenix, customers who request a ride on the Uber app may be able to catch a ride with the Waymo Driver, through our partnership with Waymo.

We’re excited to bring another innovation to the Uber experience through today’s launch. When matched with a Waymo vehicle on Uber, riders can experience a fully autonomous ride, with no human driver behind the wheel:


How to ride with an AV: Starting today in Metro Phoenix, riders who request an UberX, Uber Green, Uber Comfort, or Uber Comfort Electric may be matched with a Waymo vehicle if the route is part of Waymo’s newly expanded operating territory—which includes Sky Harbor International Airport’s 24th St and 44th St SkyTrain locations—and a dedicated Waymo vehicle is available.
Update your Ride Preferences: Uber customers in Phoenix who are excited about riding in an autonomous vehicle (AV) can increase their chances of being matched with an AV by opting in via the Ride Preferences section of their Uber app under Settings.
Safety is a top priority: Safety is at the heart of what we do. That’s why we review our partners’ approaches to safety per our Safety Guidelines before they deploy and operate on the Uber network.
Convenience built in: Before a nearby Waymo vehicle is dispatched to a customer, we’ll first give them the option to accept the ride or find another. Once the Waymo vehicle arrives, riders will be able to unlock the vehicle and start the trip—all from the familiar Uber app. If assistance is needed at any time, riders will have access to 24/7 customer support, accessible in both the Uber app and inside the Waymo vehicle.
Make a sustainable choice: We’re committed to becoming a zero-emissions mobility platform by 2040. By helping to match riders with electric vehicles, like Waymo’s all-electric Jaguar I-PACE, we can help cut gas use, emissions per passenger, and make greener transportation options more accessible.

Today is an important step in our journey to bring safe, reliable autonomous driving technology to the Uber platform. Looking ahead, we expect that the number of human drivers and AVs on the Uber platform will continue to grow, side by side, for quite a long time as we continue to scale a hybrid, global network that combines both.

At Uber, we are building the future of transportation, which will be increasingly electric, shared, and autonomous. Welcome, Waymo! 💚

oops Cruise Driverless Car Permits Suspended In California - good for Uber
Cruise Driverless Car Permits Suspended In California By DMV - WSJhttps://t.co/bPukWkK7fb— LiveSquawk (@LiveSquawk) October 24, 2023

Uber started at buy with $51 stock price target at Seaport Research, today before the open

With all those protests. Demand for rides should be high. Or take the train with the crowds.

Earnings Tuesday Nov 7th before the bell

Josh Brown CNBC paid contributor - Yesterday halftime final pick - buy $UBER, I like it to year end

Stock price predictions

Anyone here from $20

What is mrq

Any patents

Bloomberg) -- Uber Technologies Inc. is developing an artificial intelligence-powered chatbot to integrate into its app, joining the long list of companies that are turning to the language tool to improve customer service, marketing and other automated tasks.

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“We’re working on it right now,” Chief Executive Officer Dara Khosrowshahi said Tuesday in an interview on the Bloomberg Technology show. He didn’t provide details on the specifics of what the chatbot would be capable of doing, but highlighted the ways Uber currently uses AI in its business.

“We have been working with machine learning, artificial intelligence systems for years and years,” he told Emily Chang. “Every time you get matched up with a car or a courier, there are algorithms making that happen, from the time of day, distance, all of that is driven by machine learning.”

Uber’s delivery competitors, including DoorDash Inc. and Instacart Inc. are also building chatbots.

DoorDash is working on a system called DashAI that would speed up ordering and help customers find food options on the app. In May, Instacart launched a new feature, dubbed “Ask Instacart,” powered by OpenAI Inc.’s application programming interface, or API, that customers can use to pose questions about food preparation.

Uber posted its first-ever operating profit Tuesday, but revenue missed analysts’ estimates and the pace of growth slowed, sending the shares down about 6%.

Good day to buy.
Uber will be more than just Ride Share and Uber Eats.

Uber Technologies, Inc. $UBER Total Debt (mrq) $11.26B Book Value Per Share (mrq) $3.72

Earnings spotlight: Tuesday, August 1 - Merck (MRK), Pfizer (PFE), Advanced Micro Devices (AMD), Caterpillar (CAT), Starbucks (SBUX), Uber (UBER), and Altria (MO). JR Research, a Seeking Alpha analyst stated "Given relatively pessimistic analysts' estimates, the market is likely positioned for a disappointing Q2 release for Pfizer."

UBER new 52 week high

UBER
GIG ECONOMY
Uber Eats, DoorDash, Grubhub Team Up to Sue New York City
New York City just got a special delivery: lawsuits courtesy of Uber Eats, DoorDash, and Grubhub.
On Thursday, the trio of gig economy mavens, plus upstart competitor Relay, sued the city over sweeping new rules that would require paying gig workers a guaranteed $17.96-an-hour minimum wage — a move, they say, that would upend the city’s entire gig economy ecosystem.
A Declaration of Independent Contractors
It’s a tale as old as, well… at least as old as Uber. Should drivers for delivery and ride-share apps be considered employees — and thus receive the benefits and guaranteed wages of a regular job? Or are they, as the companies have mostly defined them, independent contractors enjoying the ever-flexible fruits of gig work, like setting their own hours and accepting and rejecting tasks as they see fit? It’s a status quo the companies have long fought to protect. Most notably, in 2020, Uber, Lyft, Instacart, and Postmates poured a record $205 million into supporting a California state ballot measure known as Proposition 22 to keep drivers classified as independent contractors. The group won, and secured the victory in a California appellate-court case this past spring upholding the measure.
Now the industry faces a similar fight on the East Coast, with DoorDash and Grubhub filing a joint lawsuit in the Supreme Court of New York, while Uber Eats and Relay each filed separate suits. The law, set to go into effect on Wednesday, could “cause immediate and irreparable harm” to their businesses, Uber said in its complaint. Here’s how the math works out:
• The city’s new rule would require companies to either pay the roughly $18 per hour minimum, or 50 cents for every minute a driver spends on a single trip, with each rate excluding tips. That’s a healthy beat higher than the city’s overall $15-per-hour minimum wage.
• That would radically change the fluctuating per-gig rate system that delivery drivers now receive. The companies argue the new law could lead to contractors simultaneously logging on to various apps, essentially earning wages from multiple companies at once and leading to significantly higher consumer fees — possibly harming restaurants’ takeout business as well.
Add it to the List: The lawsuits are just the latest filed against the city. DoorDash, Uber Eats, and Grubhub are also suing over a 2021 law that caps the commission they can take from restaurant sales to just 23%. A similar law in San Francisco limits their cut to just 15%. The trio is also suing the city over another law that requires the apps to share basic customer data — such as names, addresses, and phone numbers — with the local restaurants taking orders, unless users decide to opt-out. Then again, what’s the point of living in the country’s densest city, with takeout options aplenty, if you’re going to wait an hour to overpay for app delivery?
- Brian Boyle

$UBER long term is a winner.