– News from elsewhere covered by Quincy Quarry News with commentary added.

 

Ride sharing ride
Image via the New York Times

Uber and the false hopes of the sharing economy.

 

Uber and other ride sharing companies tout their models as the model for the future.

 

Reality, however, suggests otherwise.

 

Way otherwise.

 

| quincy news

Struggling sharecroppers
An old photo

Not only is ride-sharing driving cab drivers to financial ruin, ride sharing drivers are basically poor sharecroppers.

 

Conversely, ride sharing companies’ suits  and certain stockholders are making insane money care of irrationally exuberant stock prices on their stock holdings in companies that have to date all failed to make an actual profit on their operations and have instead seen but “paper” profits for Uber but none at Lyft.

 

| quincy news

Greedy suits at the top of the revenue stream
a ThePeoplesVoice.org graphic image

That and doing just about everything that they can to duck local regulations akin to those imposed upon cab companies, labor law in general or providing its drivers with employee benefits.

 

Source: Uber and the False Hopes of the Sharing Economy

 

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