It is the 21st of November 2019

News

This $586.56 San Francisco Lawsuit Could Destroy The Entire 'Gig Economy'

When Raef Lawson filed his $586.56 lawsuit in San Francisco he probably didn't realize he could potentially end up disrupting the entire 'gig economy' that subsidizes a plethora of Silicon Valley tech giants from Uber to DoorDash, but that could very well end up being the outcome. 

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Benchmark Sues Travis Kalanick For Fraud, Breach Of Contract And "Gross Mismanagement"

The life of embattaled Uber ex-CEO Travis Kalanick just went from bad to worse, when on Thursday afternoon venture capital firm Benchmark Capital, one of the early investors in Uber - perhaps sensing that instead of an IPO, Uber's next valuation will be a 40% down round - just sued Kalanick for fraud, breaches of fiduciary duty, and breaches of contractual obligations in Delaware Chancery Court. If the lawsuit is successful, it is likely that the now former CEO will also be kicked off the board of the company that he launched.

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The Uber Effect: Avis Plunges On Huge Miss, Margin Collapse, Guidance Cut, "Over-Fleeting"

While the growing woes facing the auto sector are well-known by now (see "Carmageddon: Ford & GM Sales Tank Despite Record July Incentive Spending") and boil down to excess capacity, insufficient demand and just a tiny - if one listens to the experts - subprime lending bubble, one key culprit has emerged as the biggest catalyst behind the chronic weakness among US carmakers: a moribund fleet, or rental, industry which has been devastated in recent years from Uber's juggernaut of disruption.

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Uber Secretly Tracked Users, Spied On Lyft Prompting Tim Cook To Threaten Apple Store Expulsion

Almost two months after it was revealed by the NYT that Uber had used a deceptive tool called "greyball" to deceive and circumvent official authorities, CEO Travis Kalanick may be in trouble again following a new expose by the NYT's Mike Isaac (who may ot may not have a grudge against Kalanick) writes that in 2015 Uber was "on the verge brink of implosion" after Apple had learned that Uber was spying on its users.

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