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Systems that let drivers take their eyes off the road and fully autonomous systems are coming in about two years. Shashua talked with The Associated Press about the next steps toward autonomous vehicles. A: When you talk about autonomous vehicles, what immediately comes in mind is Waymo, Cruise, robotaxis. Q: When do you see a lot of fully autonomous vehicles on the roads? The second story of an eyes-off system on highways is already in the works.
Persons: robotaxis, Amnon Shashua, Shashua, It’s, Uber, Mobileye Organizations: DETROIT, , General Motors, Intel, Systems, Associated Press, Cruise, Volkswagen Locations: Arizona, San Francisco, Israeli, Los Angeles, China, Europe, U.S
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 6, 2024. U.S. stock futures hovered near the flatline on Sunday night following a record-setting week for the S&P 500 . On Friday, the S&P 500 rose 0.57% to close above the 5,000 level for the first time, while the tech-heavy Nasdaq Composite added 1.25%. The S&P 500 and Nasdaq Composite added 1.4% and 2.3%, respectively. Some 61 names in the S&P 500 are set to report earnings in the week ahead, including gig economy stocks Lyft , Instacart and DoorDash .
Persons: Kraft, Jay Hatfield, Hatfield Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Dow Jones, Dow, Kraft Heinz, Hasbro, Capital Advisors, Traders, CPI, PPI, CNBC Locations: New York City, U.S
Frustrated by falling pay and intensifying competition on delivery apps, some gig workers are turning to "bots" — apps and other programs that claim to help them optimize their earnings. AdvertisementBots can "negatively impact other drivers"Using a bot violates the delivery apps' terms for workers, the companies told Business Insider. One called "Spark Ninjas" supposedly captures orders automatically on Walmart's Spark delivery platform. Bots appear to be just one way that some gig workers are improving their earnings. Do you work for a gig delivery app like Instacart, DoorDash, or Walmart Spark and have a story idea to share?
Persons: , I'm, DoorDash, Para, illicitly, Sharell, Barshishat, there's, Spark Organizations: Service, DoorDash, Business, Indiana, Uber, New York Times, Walmart, Nike, Facebook, BI Locations: Indiana, DoorDash, Para, Texas
Wall Street wrapped up another positive week, with the S & P 500 closing Friday above 5,000 for the first time ever. It was a pretty light week in terms of economic data releases, though we did get a favorable ISM Services number on Monday. Things will pick up next week with several closely watched macroeconomic updates, including two key government inflation reports. While no Club earnings are scheduled to report earnings in the week ahead, 61 companies in the S & P 500 will deliver their latest quarterly results. Consumer inflation: The main event of the week will come on Tuesday when the January consumer price index (CPI) is released.
Persons: Estee Lauder, Eli Lilly, Price, Bausch, Trimble, Krispy Kreme, Topgolf, Kraft Heinz, Martin Marietta, Owens Corning, WEN, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Club, GE Healthcare, DuPont, Linde, Ford, Disney, Wynn Resorts, CPI, PPI, Palo Alto Networks, Nvidia, Bausch Health, Arista Networks, WM, Cadence Design Systems, ZoomInfo Technologies, Avis Budget, Brighthouse, Goodyear Tire &, Vornado Realty, Marriott International, Hasbro, Restaurant Brands, Molson Coors Beverage, Holdings, MGM Resorts, MGM, Akamai Technologies, American International Group, AIG, Topgolf Callaway Brands, CME Group, Sony, SONY, Blackstone Mortgage Trust, Martin Marietta Materials, Ryder, Occidental Petroleum, Cisco Systems, Deere, Penn Entertainment, Southern Company, Coinbase, Trade, Materials, Rand, Texas, Housing, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Albemarle, ALB, Ingersoll, New York City
This accounts for tips, bonuses, and expenses — and defines an engaged hour as time spent on rides. AdvertisementHow Lyft calculates earnings and expensesUsing car ownership data from AAA, Lyft estimated that the typical driver has $7.02 per engaged hour in marginal driving expenses, bringing the typical driver's net earnings per engaged hour, after expenses, to $23.46, per Lyft's calculations. Lyft said a large majority of its drivers don't solely rely on Lyft driving for their total income. 94% of Lyft drivers drive less than 20 hours a week, while two-thirds drive for other apps. Nationwide, the 20th percentile for Lyft driver earnings averaged $17.46 per hour after expenses, while the 80th percentile is $33.09 per hour.
Persons: Lyft, , Uber, Sergio Avedian, Guy Organizations: Service, AAA, BI, Nationwide, Chicago, Business Locations: Southern, Atlanta, Dallas, Houston, Miami, Orlando, Charlotte
Read previewThis as-told-to essay is based on a transcribed conversation with Kelsey Lam, a 27-year-old who left Philadelphia to live in the suburbs in 2021. I've lived in the suburbs for three years and would say they don't really cater to my age group. AdvertisementEven going for coffee in the suburbs and in the city are completely different experiences. In the suburbs, I'm getting coffee from chains and the coffee just doesn't feel as unique. AdvertisementIn 2019, I was living in a 550-square-foot studio apartment in the city for around $1,165 a month.
Persons: , Kelsey Lam, I've, King of Prussia, Kelsey, I'd, Lam, Covid Organizations: Service, Business, Facebook Locations: Philadelphia, Malvern , Pennsylvania, Malvern, Plymouth, Cities, Kelsey Lam, French, Chinatown, King
Read previewWho knows what kind of fate would have awaited Uber had Travis Kalanick decided not to relinquish his power in 2017. But instead of crashing, Uber has seemingly defied the odds thanks to Kalanick's successor, Dara Khosrowshahi. Net profit for the year hit $1.9 billion versus an enormous $9.1 billion loss in 2022, which had been inflated by revaluations of Uber's equity investments. Former Uber boss Travis Kalanick. But having been at the helm of online travel business company Expedia for 12 years before moving to Uber, Dara's success appears to come from his pedigree as an operator.
Persons: , Uber, Travis Kalanick, Dara Khosrowshahi, Khosrowshashi, Eric Piermont, Khosrowshahi, SoftBank, Didi Chuxing Organizations: Service, Business, AFP Dara's Locations: Silicon, San Francisco, China
Lyft reported that drivers, on average, took home 88% of rider payments after external fees. AdvertisementIn recent months, several Uber and Lyft drivers have told BI that ride-hailing has become less profitable than it used to be. Lyft also noted that drivers can now see the breakdown of how each rider's payments are split between drivers, Lyft, and external fees. Still, 94% of Lyft drivers only drive less than 20 hours a week and use driving to supplement other income. In November 2023, Lyft agreed to pay $38 million to settle claims that it improperly collected some fees and taxes from New York drivers — Uber agreed to pay $290 million.
Persons: Lyft, , David Risher, Sergio Avedian, Uber, Guy, Avedian, he's, Kara Swisher, Dara Khosrowshahi, — Uber Organizations: Service, Drivers, Cleveland Uber, New, New York State, Elite, EV Locations: Cleveland, New York City, Seattle , California, New York, Minneapolis , Chicago, Massachusetts
A boomer Uber driver's business had over $100,000 in earnings but only $20,000 in profits. But after Uber took its cut and his driving expenses were accounted for, his profits fell to about $20,000. The $44,000 deduction was an estimate for tax purposes, so it's possible his true vehicle expenses weren't quite that high. AdvertisementThat said, commissions and driving expenses took a significant cut out of his business's profitability. His first year driving Uber, 2016, was more eventful than he anticipated: He got caught in Hurricane Matthew while driving in Norfolk, Virginia.
Persons: boomer, , Dean Ceran, Kia Forte, Uber, he's, Ceran, it's, haven't, they're, Lisa Greene, Lewis, Greene, — Ceran Organizations: Uber, Service, BI Locations: Virginia, Hurricane, Norfolk , Virginia
But after Uber took its cut and his driving expenses were accounted for, his profits fell to about $20,000. How commissions and driving expenses reduce drivers' profitsOf Ceran's roughly $83,000 in total business expenses, $38,000 consisted of Uber's booking and service fees — effectively the commission the company takes from drivers' earnings. After accounting for Uber's commission — and before expenses — Ceran saw as much as $65,000 in Uber income enter his bank account in 2023. The $44,000 deduction was an estimate for tax purposes, so it's possible his true vehicle expenses weren't quite that high. His first year driving Uber, 2016, was more eventful than anticipated: He got caught in Hurricane Matthew while driving in Norfolk, Virginia.
Persons: , Ceran, Kia Forte, Uber, he's, they're, Lisa Greene, Lewis, Greene, — Ceran, he'd Organizations: Service, Business, BI Locations: Virginia, Hurricane, Norfolk , Virginia
When you're considering investment advice, taking a tip from one of the world's wealthiest people is probably a good place to start. That's why Shaquille O'Neal says he turned to Amazon founder Jeff Bezos for inspiration before deciding to invest in Campus, the online community college startup that's already raised more than $29 million from investors like OpenAI CEO Sam Altman and Discord founder Jason Citron. "I heard Jeff Bezos say, if you invest in things that's going to change people's lives, you'll always get a great return on your investment," O'Neal said. And, O'Neal has long touted Bezos' advice to seek out investment opportunities that he truly believes can "change people's lives." "If something comes across my desk and I don't believe in it, I don't even look at it," O'Neal told The Wall Street Journal in 2019.
Persons: Shaquille O'Neal, Jeff Bezos, Sam Altman, Jason Citron, O'Neal, Fortune, he'd, you'll, Tade Oyerinde, Oyerinde, It's, Bezos, Matt Isbhia, Papa John's, Auntie Anne's, it's Organizations: Amazon, Princeton, Vanderbilt, Spelman College, of Famer, Phoenix Suns, Bezos, Wall Street, Google
Genesis, 33, made $103,000 in gross earnings in 2022 driving for Uber and Lyft driving nearly every day. She also thought it would be a better city to raise her kids as a single mother. Genesis and other single parents said they're not pulling in enough from driving and are being forced to look to other industries. She had to work nearly every day to make over $103,000 in 2022, though expenses added up fast. AdvertisementWhat's keeping her afloat now is entertainment work as a staffing solutions person, helping clients find bartenders, waitresses, and other staff for parties and events.
Persons: Uber, She's, they're, Orlando, Genesis, Lyft, It's, she's, hasn't, it's Organizations: Service, Business, Ford Expedition, Orlando, BI, Chevy, Hartsfield, Jackson Atlanta International Airport, SAG Locations: Orlando, Atlanta, Florida
NEW YORK (AP) — American Express rolled out several updates to its Delta SkyMiles credit cards Thursday that will give additional benefits to users, part of efforts to soothe sore Delta Air Lines customers who have considered abandoning the airline after last year’s SkyMiles loyalty fiasco. AmEx customers get access to Delta's airport lounges and are able to transfer their Membership Rewards points to Delta, among other benefits. To give a sense of scale, Delta CEO Ed Bastion told investors in June that roughly 1% of the entire U.S. economy is spend on Delta's credit cards. So, when Delta made alterations to its SkyMiles loyalty program last year, it was largely seen by Delta customers as a watering down of its program, and it caused turbulence between the two companies. Part of those changes required Delta customers to spend large sums of money on airfare or on the Delta credit card to be given elite status on the airline.
Persons: AmEx, Delta, it's, Ed Bastion, Bastion, , Howard Grosfield Organizations: Delta, Air Lines, New, Delta Air Lines, American Express, U.S . Consumer Services Locations: New York, Delta, Hawaii , Alaska, Mexico, Caribbean, Central America, Atlanta, AmEx
Orlando, Florida CNN —A Florida woman sued Lyft earlier this month, alleging that she was raped by her Lyft driver in 2019 and that the assault resulted in the birth of her third child. Separately, at least a handful of Lyft drivers accused of sexual assault have been convicted in criminal cases. Genetic testing later confirmed with “99.9999999998%” certainty that the Lyft driver is the child’s father, according to the complaint. The Lyft driver rolled down the passenger side window, and Plaintiff confirmed the Lyft driver was there for her,” the complaint states. Lyft’s continuous criminal record monitoring began in April 2019, the month of Means’ alleged rape.
Persons: Lyft, Tabatha Means, , Uber —, Uber, ” Lyft, ” Means, Means, she’d, ” Tabatha, John General, Deborah Brunswick, ” Rachel Abrams, Peiffer Wolf, ” Abrams, wouldn’t, … I’ve, , Abrams, Organizations: Florida CNN, CNN, Court, ADT, Social, US, Department, RAINN Locations: Orlando, Florida, California
She can't work a 9-to-5 due to a back condition she said she developed in the Air Force. She's behind on her rent, and the amount she makes from driving can't cover most expenses. She took up gig driving in August 2023, hoping it would help her pay bills. AdvertisementAcross the country, thousands of Americans with disabilities are looking to gig work to make ends meet. In 2015, she tried gig driving for a few months in Fort Collins, which she said was profitable but not as much as a full-time job.
Persons: Rene, she's, Uber, , Terrence Hayes, it's, hasn't, She's, they're Organizations: Air Force, Service, Business, BI, Veterans Locations: Denver, Fort Collins
After living in New York City for 20 years, I moved to Florida, about 15 minutes from Disney World. I was born and raised in New York City, so I knew living in Florida would be very different. It's safe to say I was very startled by this animal I wasn't expecting to see run across the front of the hotel. The nearest grocery store, restaurant, bar, laundromat, nail salon, and hair salon in New York City were conveniently only a one-block walk from my house. That's not a super far distance, but it's so different from what I'm used to.
Persons: , Jenna Clark, ee's, there's, Ian, It's, I'm Organizations: Disney, Service, Walmart Locations: New York City, Florida, Orlando, The Texas, Southern, Disney's
Some told BI that they can't find other accommodating jobs and that gig work is a dead end. He said gig driving was one of his only options to supplement his disability benefits. Robert is one of many disabled gig drivers who say they have no other options to make a living. "Disabled gig workers can be forced to rely on gig work for income because of issues with exclusion and discrimination in traditional workplaces," Shruti Sannon, a technology-policy program director at the ACLU who authored a paper on disabled gig workers, said. For many disabled gig drivers with medical issues, gig work is a temporary but necessary step toward getting back on their feet.
Persons: Uber, , Robert, there's, he's, Shruti Sannon, Sannon, Lyft, they're, Omar Ford, Jason McConahy, it's, aren't, Douglas Kruse, Lisa Schur, Schur, Kruse, " Kruse, Shane, hasn't, I've, Rene, Richard H, Richard, I'd, Michael, Jacob Zinkula Organizations: Service, Lyft, Business, Rutgers University School of Management, Labor Relations, Rutgers, of Labor Statistics, Marine Corps, Air Force, Uber, Arizona State University Locations: Portland , Oregon, South Florida, Las Vegas, North Carolina, Denver, Phoenix, New Jersey
Read previewJason McConahy, a part-time Lyft driver in Las Vegas, sometimes drives as few as 10 hours a month. Several Uber and Lyft drivers have told Business Insider they've faced everything from rude comments to harassment while working — women drivers can face their own challenges. Business Insider asked six Uber and Lyft drivers why they value the social interactions that can come with ride-hailing. Riders, oftentimes, enjoy having someone to talk to as well, drivers told BI. "It's like therapy," said a Boston Uber driver in his 50s who asked to remain anonymous for fear of professional repercussions.
Persons: , Jason McConahy, McConahy, they've, Uber, Mark McCann, Larry, he's, Rich, Dean Ceran, they're Organizations: Service, Business, Atlanta Uber, Arizona Uber, Virginia Uber, Boston Uber Locations: Las Vegas, Dallas, Atlanta, Arizona, Virginia, Boston
The Portland, Oregon-based Uber and Lyft driver had been in construction his whole life until experiencing a major stroke a decade ago. "I get to thinking there's got to be something I can do besides this, but there's really not," Robert said. Robert is one of many gig drivers with disabilities who told BI they rely on gig driving to make ends meet and have few other options that accommodate their medical needs. Many Americans with disabilities are looking to gig driving for the flexibility it provides and the limited barriers to entry, though many including Robert said the work is unsustainable long-term. He relearned to drive with one leg and arm, and he realized he could take up gig driving to help supplement his SSDI benefits.
Persons: Robert, there's, Uber, he's, wouldn't, It's, Lyft, they're, I've Organizations: Service, BI, Research Locations: Portland , Oregon, Oregon, Washington
CNN —Venmo, Cash App, PayPal, Zelle and other payment apps may be convenient ways to send cash with a few taps of your smartphone, but they’re a breeding grounds for theft, Manhattan District Attorney Alvin Bragg tells CNN. Bragg says he’s seen so many instances of criminals using payment apps as a crime of opportunity. The passenger would ask to put in a new address into the Lyft driver’s phone and once inside, they would transfer the in-app earnings to their own bank accounts using Cash App, the records show. Once in custody, investigators found that the pair has sent themselves $1,749 using Cash App, the records show. Bragg said his team has been trying to get the word out in recent years and have heard from victims who never came forward during outreach campaigns about cash app thefts.
Persons: CNN —, Attorney Alvin Bragg, swindlers, Bragg, Sen, Elizabeth Warren’s, , ” Bragg, Zelle, he’s, It’s, Organizations: CNN, PayPal, Attorney, Consumer Financial Locations: Manhattan, New York, Zelle, Los Angeles, Boston
A viral video appears to show Walmart Spark workers leaving perishable groceries in the sun. Some Spark drivers appear to be using fraudulent identities, as Business Insider previously reported. Additionally, many Spark drivers appear to be using accounts with names other than their own. Walmart previously told BI that selling, renting, or borrowing accounts goes against its policies for Spark workers. Do you work for Walmart Spark and have a story idea to share?
Persons: , Aaron, YouTube Aaron, Aaron said, wasn't, they've, he'd, dreuter@businessinsider.com Organizations: Walmart, YouTube, Arizona Walmart, Business, Service, Spark ., Spark Locations: Arizona, Chandler , Arizona
For entertainment expenses like travel and eating out, however, he planned to use income from a part-time job and draw on his Social Security benefits. But there was one challenge with this plan: If Americans draw on Social Security before their full retirement age, then there's a limit to how high their taxable income can be before their Social Security benefits take a hit. The Social Security Administration says it will deduce $1 from benefit payments for every $2 one earns above the annual limit, which is $22,320 in 2024. "Because the driver can deduct his mileage from his side gig income and make below the earnings limit, his Social Security income will not be reduced," she said. "Many retirees often begin working side gigs, do freelance work, or receive other retirement income without knowing how other streams of income can impact how their Social Security income is taxed," she said.
Persons: , Mark McCann, wouldn't, McCann, it's, Uber, — McCann, Lisa Greene, Lewis Organizations: Service, Business, Social Security, Social Security Administration Locations: Dallas, Lyft
After driving for Uber and Lyft for eight years, Richard H. was diagnosed with leukemia in the summer of 2021. Thousands of Americans with disabilities or other health issues nationwide are embracing gig work to pay their bills, especially since many are unable to work traditional office roles. Many value gig work, as they can work around medical appointments or recovery days and strategize when to work to maximize their earnings. AdvertisementStill, many gig drivers say their earnings aren't enough to cover basic expenses, with some falling behind on rent or car bills. Advertisement"Once I get a full-time gig, I may not even have to do driving," Richard said.
Persons: Uber, Richard H, Richard, it's, he's, He's, I'm, I'd, , hasn't Organizations: Service, Business Locations: Phoenix
The small Swiss Alpine town is again playing host to the World Economic Forum (WEF), where the world's top brass in finance and politics convene each year to try to solve the biggest problems that plague our planet. But the long and winding road to Davos offers another lesser-known benefit, which makes the lengthier commute well worth the while. Here's what was overheard on the connecting trains from Zurich Airport to Davos Platz. OpenAI's media representative declined CNBC's request to interview Altman in Davos, citing a "tight" schedule. One Davos attendee noted their company was in the IP space and had just raised this summer, because "the rights issue is so complicated."
Persons: MacKenzie, OpenAI, Sam Altman, Davos MacKenzie Sigalos, Altman, Marc Benioff, Albert Bourla, reminisced, Sting Organizations: Volvo, Economic, Zurich Airport, Davos Platz, Swiss National Railway, Microsoft, Pfizer, The New York Times, Switzerland Cantonal Police, Disney, Landquart Locations: DAVOS, Switzerland, Manhattan, Scalettastrasse, Davos, Swiss, Zürich, Zurich, Zürich Hauptbahnhof, Saudi Arabia, Grisons, Brazil
In this article GM Follow your favorite stocks CREATE FREE ACCOUNTMary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022. GM's EV sales last year totaled 75,883 units, or 2.9% of the company's overall sales. However, a vast majority of GM's EV sales were from its now-discontinued Chevrolet Bolt models. Mary Barra, GM chair and CEO, speaks during the unveiling of the Cadillac Celestiq electric sedan in Los Angeles, Oct. 17, 2022. General Motors CEO Mary Barra testifies during a House Energy and Commerce Committee hearing on Capitol Hill in Washington, April 1, 2014.
Persons: Mary Barra, Mary Barra's, Barra, She's, Tesla, Michelle Krebs, Warren Buffett's Berkshire, EVs hasn't, Frederic J, Brown, there's, Cruise, Cruise's, Jeff Kowalsky, Darryll Harrison Jr, Mary, Barra's, Dan Akerson, Dan Ammann, Mark Reuss, Steve Fecht, Stephanie Brinley, they've, Lyft, David Einhorn's, Einhorn Organizations: General Motors, New York Stock Exchange, NYSE DETROIT, Detroit, GM, Wall, U.S, EV, Cox Automotive, Warren Buffett's Berkshire Hathaway, , Hyundai, Kia, Bolt, EVs, Cadillac, AFP, Getty, Honda Motor, Automotive Press Association, Bloomberg, Cruise, CNBC, GM Renaissance Center Global Headquarters, P Global Mobility, Apple, Google, Energy, Commerce, Capitol Locations: Los Angeles, North America, Barra, San Francisco, Detroit, Washington
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