DIRS.INFO The most relevant business & tech news

☆ Even if ChatGPT doesn't take your job, it could help another human replace you, says the economist who famously concluded AI could eliminate nearly half of US jobs
▼ + stars: | 2023-02-07 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

In 2013, Oxford economist Carl Benedikt Frey estimated that nearly half of all US jobs could be replaced by AI. So rather than having your job "outright replaced," Frey says, ChatGPT's adoption may ultimately result in a different outcome — being replaced by another human. That said, he believes the study's estimates regarding potential AI job replacement are still "broadly on target." "We may be more focusing on generating the right ideas, asking the right questions, things that are more interesting." That's because there are arguably some things ChatGPT can't learn from scouring data from millions of websites.

☆ Uber to steal a march on Lyft in resurgent rideshare market
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +3 min

Feb 7 (Reuters) - Uber Technologies Inc's (UBER.N) revenue growth is set to outpace that of rival Lyft Inc (LYFT.O) as the rideshare firm's presence in major markets around the world gives it the heft to deal with inflationary pressures. Dara Khosrowshahi-led Uber operates in multiple regions and has over the years built a massive food and grocery delivery business, while Lyft has mainly focused on rideshare in the United States. "Lyft is on the losing end of Uber's mobility and delivery network effect ... in a world of increasing focus on profitability, Lyft does not deliver," MoffettNathanson analyst Michael Morton said. Analysts expect a fourth-quarter revenue increase of 19% for Lyft and 47% for Uber, according to Refinitiv data. "When we look at driver time spent data on a 2-year growth basis our concerns on Lyft losing market share are magnified ... we come away more concerned about Lyft's need to invest in incentives," UBS analyst Lloyd Walmsley said.

☆ Uber’s CEO almost said no to the job—then Spotify’s CEO convinced him to take it
▼ + stars: | 2023-01-28 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

When Uber first approached now-CEO Dara Khosrowshahi about leading the company, he ignored the call. It was 2017, and the rideshare app was going through a "historically difficult time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a recent interview. He was entering his twelfth year as Expedia's CEO, and still "having a great time," he told Roslansky. He was prepared to call Uber's board of directors and take himself out of the running for CEO — until one conversation with a friend changed his mind. The following morning, Khosrowshahi called the head hunter back — and in August 2017, he was announced as Uber's new CEO, after a unanimous vote from the board.

☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Target, AMD, Tesla, Coinbase, Amazon & more
▼ + stars: | 2023-01-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by it's overweight rating on Apple shares heading into earnings on Feb. 2. Bernstein reiterates Apple as market perform Bernstein said it's "ambivalent" about Apple shares heading into earnings next month. Bernstein downgrades Advanced Micro to market perform from outperform Bernstein said it's concerned about a deteriorating PC market. Morgan Stanley upgrades Marathon Oil to overweight from neutral Morgan Stanley said Marathon Oil has "peer-leading FCF and shareholder returns." Morgan Stanley reiterates Ford as overweight Morgan Stanley said it sees opportunity for Ford to "to exercise its self-help muscle."

☆ KeyBanc upgrades Lyft, says stock can rally more than 50% as demand stabilizes
▼ + stars: | 2023-01-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Lyft shares could see big gains as the ride-share company cuts costs and sees demand stabilize, KeyBanc said. Analyst Justin Patterson upgraded the stock to overweight from sector weight. He also set a price target of $24, implying an upside of 55.7% over Monday's close. He also Lyft's cost-cutting actions including a 13% reduction in workforce in early November helped drive EBITDA upside. He said there's upside to current estimates due to money-saving initiatives and a recovery in the U.S. west coast market.

☆ Get ready for a gig-worker boom that could make it harder for contractors to earn a living
▼ + stars: | 2023-01-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Current gig workers could end up worse off because of the added competition. Many US gig workers are already struggling to earn a steady income. He says it's been very difficult for him to get ahead financially since he began gig work in 2019. If more competition does come, gig workers will have to decide whether the income justifies the hours they're putting in. Some full-time gig workers, who research has found account for roughly 3% of US adults and between 30 and 60% of overall gig workers, are making over six figures.

☆ This is the No. 1 career mistake young people make 'all the time,' says Uber's CEO—how to avoid it
▼ + stars: | 2023-01-19 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

While some people might argue that the secret to success lies in creating a detailed, linear path to your ultimate career goal, Uber CEO Dara Khosrowshahi says over-planning isn't just ineffective — it can torpedo your chances of building a fulfilling career. "Don't over-plan your career … I see young people make this mistake all the time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a new interview published Thursday. "I've never been in a hurry in my career, because if you're open, and you really want to hone your craft, it's so much more satisfying [to take your time]." "People talk about financial compounding — there's a career compounding that's magical. Here's how to pick them and stick to themSign up now: Get smarter about your money and career with our weekly newsletter

WASHINGTON, Jan 17 (Reuters) - The Justice Department on Tuesday asked an appeals court panel to reverse an April 2021 ruling that declared unlawful a government order requiring masks on airplanes, buses, trains, ridesharing services and at airports and other transportation hubs. The CDC issued the sweeping mask mandate in January 2021, days after Joe Biden became president. A report from U.S. lawmakers in October said the Trump administration in 2020 blocked the CDC from adopting a federal transportation mask mandate. "This is not about an urgent matter of public health," Hadaway told the court. He argued that had the CDC believed the issue was a "matter of life and death" the agency would have sought a faster ruling.

☆ U.S. senator Manchin says Treasury should limit commercial EV tax credit use
▼ + stars: | 2022-12-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Senator Joe Manchin, a Democrat who chairs the chamber's energy panel, asked the Treasury Department on Tuesday not to allow a commercial electric vehicle tax credit to be used for consumer leasing, rental cars or ridesharing vehicle sales, rejecting a broad interpretation of the credit. Reuters first reported last week the push by South Korea and some automakers that asked the Treasury Department to allow use of the commercial electric vehicle tax credit to boost consumer EV access as well as for the purchase of ride share and rental car vehicles. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. The commercial credit known as "45W" does not, however, have the sourcing restrictions of the consumer credit called "30D." Hyundai (005380.KS) and Kia (000270.KS) want the U.S. Treasury to allow people leasing EVs to benefit from commercial credits and to qualify for up to a $4,000 tax credit for used EVs if they buy vehicles when leases expire.

☆ Getaround stock crashes after carsharing company goes public in SPAC deal
▼ + stars: | 2022-12-09 | by ( Barbara Collins | ) www.cnbc.com time to read: +2 min

Carsharing company Getaround made its public market debut Friday through a merger with blank-check company InterPrivate II Acquisition Corp. The company saw its share value drop more than 65%, reflecting the chilly environment for both SPACs and ridesharing companies. SPACs, or special purpose acquisition companies, raise capital through an IPO to acquire or merge with existing companies, aiming to eventually take the companies public in a two-year time frame. For SPACs that did go public, they haven't fared well: the CNBC SPAC Post Deal Index has fallen over 60% in the past year. Public ridesharing companies have been struggling as well.

☆ Why GM's happy to keep spending billions on self-driving while rivals like Ford abandon ship
▼ + stars: | 2022-12-05 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

GM's Cruise is still pushing forward after Ford's Argo called it quits. Profitability is not yet the marker of success for Cruise, GM president Mark Reuss said. In fact, GM's self-driving outfit is now embarking on the commercialization phase of its robo-taxi service, after a successful nighttime pilot in San Francisco earlier this year. That's essentially the opposite approach from crosstown rival Ford, which last month gave up on its money-losing self-driving unit, Argo. That set off alarm bells for investors in the autonomous vehicle space, hammering AV startup stocks.

☆ Uber, delivery apps propose offering Mexico drivers social security
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 23 (Reuters) - Tech giant Uber (UBER.N) and delivery apps DiDi and Rappi have proposed offering social security benefits to workers in Mexico for the first time ahead of a new government bill set to regulate the gig economy. They stopped short of agreeing to classify drivers as employees, however, and few details were given on how payments towards social security costs would be divided. It is also unclear if the bill will seek to make drivers employees, or propose other reforms in line with the apps' statement. Ridesharing and delivery apps worldwide have pushed back against calls to classify workers as employees rather than independent contractors, saying the change would hinder their business models and deny drivers flexibility. Reporting by Isabel Woodford, Editing by Daina Beth Solomon, Cynthia Osterman and Anna DriverOur Standards: The Thomson Reuters Trust Principles.

Both the Amex Gold Card and the Amex Green Card offer new cardholders substantial welcome bonus offers. Annual feeThe annual fee on the Amex Gold Card is $250, whereas the Amex Green Card charges $150 per year. Dining credits with the Amex Gold cardThe Amex Gold Card also offers up to $120 in dining credits each year**, but once again, this credit is only good for specific purchases. LoungeBuddy credits with the Amex Green cardThe Amex Green Card also gives you up to $100 in LoungeBuddy credits each year. Benefits shared by both cardsThe Amex Gold Card and Amex Green Card share a handful of benefits that can help you get more value in exchange for your annual fee.

Find the right card with Uber and Lyft perks Capital One Savor Cash Rewards Credit CardChase Sapphire Reserve®Ink Business Preferred® Credit CardCapital One SavorOne Cash Rewards Credit CardChase Sapphire Preferred® Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Note that credit card lenders may use many different variations of credit score models when considering your application. Annual fee: $95Other benefits: This is one of the best small-business cards on the market thanks to perks such as:Review: Ink Business Preferred credit card reviewCapital One SavorOne Cash Rewards Credit CardWhy use it for rideshares: The Capital One SavorOne Cash Rewards Credit Card card has Uber-related benefits that are identical to the Capital One Savor Cash Rewards Credit Card. Credit cards for Uber and Lyft frequently asked questions (FAQ)What is the best credit card for rideshare expenses? The best credit card for rideshare expenses isn't necessarily the best credit card for you.

☆ The Chase Sapphire Reserve now offers complimentary Lyft Pink All Access membership, with ride discounts, priority pickup, unlimited bike rides, and more
▼ + stars: | 2022-11-15 | by ( Tessa Campbell | Personal Finance Reviews Fellow | Read More | ) www.businessinsider.com time to read: +14 min

The Chase Sapphire Reserve just got a new Lyft Pink All Access benefit that can save cardholders a bunch of cash. Cardholders already earn 10x Chase Ultimate Rewards points on rideshares, scooters, and other Lyft transportation services (offer ends March 2025). But if that's not enticing enough of an offer for you, Sapphire Reserve cardholders are now getting two years of Lyft Pink All Access membership. If you frequently spend on Lyft and want to earn valuable Chase Ultimate Rewards® points, then activating the Lyft Pink All Access membership is a no-brainer. Having your Sapphire Reserve as your default payment method also means you'll earn 10x points on Lyft purchases.

☆ Tech stocks bounced back last week — and analysts say these winners can go even higher
▼ + stars: | 2022-11-14 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

Tech stocks saw a rebound in trading last week, as a lighter-than-expected inflation reading spurred hopes that the U.S. Federal Reserve would soon temper its aggressive pace of monetary policy tightening. Unsurprisingly, tech stocks were among the top global individual stock performers last week. Of the 25 stocks on the MSCI World Index that saw gains of more than 20%, seven were from the tech sector. With the rebound, the stock now has an average potential upside of 46.7%, with nearly 60% of analysts giving it a buy rating. Other tech stocks that saw big jumps last week include cloud data platform provider Snowflake , semiconductor company Applied Materials and database platform provider MongoDB .

☆ Chase Sapphire Reserve card review: One of the best premium travel cards now offers an 80,000-point bonus (worth at least $1,200 in travel), but it won't be around for long
▼ + stars: | 2022-11-11 | by ( David E. Slotnick | Senior Reporter | Read More | ) www.businessinsider.com time to read: +43 min

How to earn points with the Chase Sapphire ReserveThe Chase Sapphire Reserve has one of the most rewarding earning structures of any premium travel card. Chase also offers an easy option for redeeming points on the Chase Sapphire Reserve and the Chase Sapphire Preferred® Card. You get a 50% bonus in value with the Chase Sapphire Reserve — so, 1.5 cents per point — and a 25% bonus if you have the Chase Sapphire Preferred® Card. This includes the Ink Business Preferred® Credit Card , Ink Business Unlimited® Credit Card, Ink Business Cash® Credit Card, Chase Freedom Unlimited®, and Chase Freedom Flex℠. Also, note that you cannot open a Chase Sapphire Reserve if you currently hold any flavor of Chase Sapphire card.

The new 80,000-point bonus on the Chase Sapphire Reserve card will end December 1, 2022, at 9 a.m. Eastern Time. You can use your Chase Sapphire Reserve travel credit toward expenses like airport parking and online travel agencies. Sapphire Reserve cardholders get airport lounge accessChase Sapphire Reserve® cardholders receive a complimentary Priority Pass Select membership, which gets them access to more than 1,300 airport lounges worldwide. The Chase Sapphire Reserve increases the value of your Chase pointsIf you already have other Chase cards that earn Chase Ultimate Rewards points, including no-annual-fee cards like the Chase Freedom Flex℠ and Chase Freedom Unlimited®, you can combine your points into your Chase Sapphire Reserve® account and unlock better redemption options. Chase Sapphire Reserve application restrictionsLike other Chase cards, the Chase Sapphire Reserve® is subject to application restrictions, most notably the Chase 5/24 rule.

☆ Evercore ISI downgrades Lyft, recommends owning Uber shares instead
▼ + stars: | 2022-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Lyft 's latest earnings report underscores why Uber is the stock to own in the ongoing battle between the two ridesharing companies, according to Evercore ISI. To be sure, Lyft saw one of its strongest periods of active driver growth over the last year, Mahaney noted. That said, Lyft did lose some market share to Uber as the company rolled out temporary driver incentives. Looking ahead, Mahaney called Lyft's fourth-quarter outlook "soft," noting that he expects slower year-over-year revenue growth. Lyft shares have tumbled roughly 67% this year.

☆ Stocks making the biggest moves after hours: Lyft, Take-Two Interactive, Tripadvisor and more
▼ + stars: | 2022-11-07 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Lyft – Lyft stock sank 13% after the ridesharing company reported mixed earnings results. Take-Two Interactive – Shares of software company Take-Two sank 15% after reporting a miss on revenue and lowering their guidance for the rest of the fiscal year. Tripadvisor – Shares of Tripadvisor sank more than 15% in after hours trading following a miss on earnings. The company reported adjusted earnings per share of 28 cents where analysts expected adjusted earnings per share of 38 cents, according to Refinitiv. Groupon – Groupon's stock fell 4.8% after the company reported earnings that disappointed on the top and bottom lines.

☆ These global stocks made the biggest gains last week — and analysts give two over 100% upside
▼ + stars: | 2022-10-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Stock markets posted positive returns last week despite firmly remaining in a bear market more broadly. These are the 20 top stocks in the MSCI World index that saw gains of more than 15% last week, as of the close on Friday Oct. 21. On average, analysts' price target on Netflix is below its current share price, meaning the shares are expected to drop by roughly 3.8%. Dutch firm Just Eat Takeaway.com was one of the biggest gainers last week and is among the stocks with the biggest upside potential. On average, analysts expect Lyft to rise to $25 a share a 109.5% upside from its current share price.

☆ Inside Facebook, WhatsApp is now an 'urgent' growth valve with 'superapp' ambitions taking shape
▼ + stars: | 2022-10-20 | by ( Kali Hays | ) www.businessinsider.com time to read: +12 min

This has become something "we have to do," said Matt Idema, vice president of business messaging. Messaging throughout Facebook, led by WhatsApp, generated a relatively paltry $218 million in the most recent quarter. "It's a really big challenge," Matt Idema, promoted last year to vice president of business messaging for Meta, told Insider. Now it's time to bring together WhatsApp, Facebook Messenger, and Instagram Messaging and "treat it like one messaging strategy," Idema said. It held in May its first-ever conference dedicated to its messaging business.

The new 80,000-point bonus on the Chase Sapphire Reserve card is worth at least $1,200 in travel. You can use your Chase Sapphire Reserve travel credit toward expenses like airport parking and online travel agencies. Sapphire Reserve cardholders get airport lounge accessChase Sapphire Reserve® cardholders receive a complimentary Priority Pass Select membership, which gets them access to more than 1,300 airport lounges worldwide. The Chase Sapphire Reserve increases the value of your Chase pointsIf you already have other Chase cards that earn Chase Ultimate Rewards points, including no-annual-fee cards like the Chase Freedom Flex℠ and Chase Freedom Unlimited®, you can combine your points into your Chase Sapphire Reserve® account and unlock better redemption options. Chase Sapphire Reserve application restrictionsLike other Chase cards, the Chase Sapphire Reserve® is subject to application restrictions, most notably the Chase 5/24 rule.

☆ Is the Uber, Lyft and gig economy battle over workers nearing its end game?
▼ + stars: | 2022-10-16 | by ( Tim Mullaney | ) www.cnbc.com time to read: +6 min

With federal regulators set to tighten Trump-era labor standards that let Uber and Lyft, as well as food-delivery services like Doordash, treat gig workers as independent contractors with few protections under labor law, shares dropped sharply last week. But while a shift, the Department of Labor proposal doesn't immediately transform gig workers into employees entitled to overtime pay, unemployment insurance and other benefits. "It seems like the start of a Game of Thrones battle between the Department of Labor and the gig economy,' Wedbush analyst Dan Ives said. Uber believes the Department of Labor is focused less on ridesharing and more on industries such as construction that also use gig workers, pointing out that the proposed rule doesn't single out rideshare drivers. Uber drivers also supply their own cars and gasoline, though the company in March added a per-trip fuel surcharge that goes directly to drivers.

☆ Amid talk of a recession, experts share why now is a good time to start a business and which industries are the most promising
▼ + stars: | 2022-10-13 | by ( Alexandra York | ) www.businessinsider.com time to read: +7 min

While the prospect of an economic downturn can be worrying, indicators suggest it's still a good time to start a business. "When starting a business, your capital needs are as low as they're ever going to be," he said. Mawhinney, along with an economist, a business coach, and an entrepreneur, each shared their predictions for the coming years and why they encourage aspiring business owners to jump on the entrepreneurial bandwagon now. "But what we're seeing now is they've realized that employment itself is risky, and it's become easier to start that business." She encourages her coaching clients, who are aspiring entrepreneurs and freelancers, to take advantage of the new opportunities.

Search resuls for: "ridesharing"

25 mentions found