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☆ 10 Things in Tech: Google's WFH crackdown, mass layoffs are creating new founders, and Jack Dorsey's Apple Vision Pro worry
▼ + stars: | 2023-06-15 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

Tech layoffs are fueling an influx of new founders building climate, health, and fintech startups. Microsoft CEO Satya Nadella said he liked to test AI using a poetry prompt to see if it had the "subtlety" to translate "deep meaning." Twilio's Joyce Kim said "predictive AI is going to be a core part of every tool that they use." The European parliament has voted to take steps to regulate AI technology such as ChatGPT, with its parliament backing a ban on the technology for biometric surveillance, emotion recognition, and predictive policing. Uber CEO Dara Khosrowshahi says the most common mistake he sees young people make is overplanning.

Persons: Nathan Rennolds, it's, let's, Sundar Pichai, Google's, hasn't, Simplyblock, Michael Schmidt, Robert Pankow, Jack Dorsey's, Satya Nadella, Uber, Twilio's Joyce Kim, Dara Khosrowshahi, Leigh Vogel, Elon, Kairan, Hallam Bullock Organizations: Google, Jack Dorsey's Apple, Microsoft, Summit, Getty, SpaceX, LinkedIn Locations: London, Google's, Simplyblock, Europe, New York City

☆ Wall Street is finding the silver lining on inflation, but how long will the 'good' times last?
▼ + stars: | 2023-06-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But on Wall Street, a crisis is just a bit of financial engineering away from becoming an opportunity to make money. That's where inflation traders come in. The strategy of betting on the swings in consumer prices has exploded in recent years, with revenues from inflation trading going from $700 million in 2019 to $3.9 billion in 2022. And while inflation trading has the potential to generate some big returns, making your money back on hires like these might be a tall task if inflation has a short shelf life. More on where the top players in inflation trading are landing amid a heated war for talent.

Persons: Dan DeFrancesco, we've, Goldman Sachs, I've, Malte Mueller, Insider's Kaja Whitehouse, Kaja, Ben Stiller, Owen Wilson, Elon Musk, Goldman, Citadel's Ken Griffin, Dara Khosrowshahi, Jeffrey Cane, Nathan Rennolds Organizations: Getty, Labor Statistics, Federal, Paramount, BlackRock, Tech, LinkedIn Locations: BlackRock, China, New York, London

☆ Uber to cease food delivery in Italy, exit Israel
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

AMSTERDAM, June 15 (Reuters) - Uber (UBER.N) said on Thursday it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share. CEO Dara Khosrowshahi has said Uber will invest only in markets where it can be the largest or second largest player. Uber trails Just Eat (TKWY.AS) and Glovo (DHER.DE) in Italian food delivery, and Gett Taxi and Yango (YNDX.O) in the Israeli taxi and private hire market. The company, which relies on self-employed contractors for its delivery service, said around 50 Uber employees and thousands of non-employee couriers and restaurants would be affected in Italy. Uber says it is seeing strong adoption by taxi drivers in Europe, who use the Uber app to supplement their curb-side ride hailing business.

Persons: Dara Khosrowshahi, Uber, Toby Sterling, Jan Harvey Organizations: Thomson Locations: AMSTERDAM, Italy, Israel, Europe, Britain, France, Spain, Germany

☆ Uber is going toe-to-toe with Instacart in a bet that delivering groceries can cut healthcare costs by billions
▼ + stars: | 2023-06-14 | by ( Lydia Ramsey Pflanzer | ) www.businessinsider.com time to read: +4 min

Uber is adding groceries and over-the-counter medical items to its Uber Health services. Uber on Tuesday said that it plans to work with health plans and providers to prescribe food as medicine. Instacart in March launched digital tools to allow doctors to prescribe food the way they might prescribe a medication. Caitlin Donovan, global head of Uber Health Uber HealthHealthier eating members could have major financial implications for insurers. "When you combine demand for healthcare services with the core competencies of Uber with the ability to do good, I think that's a very powerful confirmation that speaks to why Uber Health is part of Uber," Donovan said.

Persons: Uber, Andreessen Horowitz, Caitlin Donovan, Donovan, It's, Dara Khosrowshahi, Leigh Vogel, Uber's Organizations: Uber Health, Instacart, Kroger, Health, Getty, Uber

☆ Uber CEO Dara Khosrowshahi shares the most common career mistake young people make
▼ + stars: | 2023-06-14 | by ( Cadie Thompson | ) www.businessinsider.com time to read: +3 min

Having a career plan is great, but you don't want to overdo it. Uber CEO Dara Khosrowshahi says the most common mistake he sees young people make is overplanning. "I always tell people that the most common mistake I see in young people is that they overplan their career," Khosrowshahi said on a recent podcast of Acquired. An analyst is not supposed to talk to a CEO," Khosrowshahi said. IAC ended up buying Expedia in 2001, and four years later, Khosrowshahi became CEO of the travel booking company.

Persons: Dara Khosrowshahi, —, Khosrowshahi, Khosrowshahi's, Barry Diller, Diller, Barry, Herbert Allen, Allen, Uber Organizations: Service, Allen & Company, Paramount, USA Networks, IAC, Allen, Uber's Locations: Expedia

☆ Dara Khosrowshahi says Uber wants to make it 'absolutely effortless' for drivers – and passengers – to go green
▼ + stars: | 2023-06-10 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Uber wants to make it "absolutely effortless" for drivers and riders to go green, CEO Dara Khosrowshahi said, adding that "everyone should be able to live a low emissions lifestyle. EV 'charging anxiety'Key to Uber's sustainability push is whether it can persuade more drivers to buy or rent EVs. Rider-emissions statistics, carsharing, and sustainable-food packagingIt's not just drivers that Uber is trying to incentivize to go green. Khosrowshahi added that Uber chose London for the launch because it's Uber's EV hub. Of the more than 60,000 Uber drivers using EVs across Europe and North America, over 10,000 were in London, he said.

Persons: Uber, Dara Khosrowshahi, Sachin Kansal, Uber's, Kansel, Kansal, Divya Dalapathi, Dalapathi, Green, Khosrowshahi Organizations: EV, Rider, Portland International, Phoenix Sky, Uber, London Locations: London, Canada, Boston, Toronto, Europe, North America

☆ Uber’s Diversity Chief Put on Leave After Complaints of Insensitivity
▼ + stars: | 2023-05-21 | by ( Kellen Browning | ) www.nytimes.com time to read: +2 min

The term Karen has become slang for a white woman with a sense of entitlement who often complains to a manager and reports Black people and other racial minorities to the authorities. A prominent “Karen” incident occurred in 2020, when Amy Cooper, a white woman, called 911 after a Black man bird-watching in New York’s Central Park asked her to leash her dog. Mr. Khosrowshahi’s efforts included increased diversity initiatives under Ms. Lee, who has led the effort since 2018. “I can confirm that Bo is currently on a leave of absence,” Noah Edwardsen, an Uber spokesman, said in a statement. Ms. Lee did not respond to a request for comment.

☆ Uber's AI potential is making it stand out among its peers. Here's what that could mean for its stock.
▼ + stars: | 2023-05-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +11 min

All told, there is a nearly $6 trillion in revenue opportunity from AI across the internet industry, a March report from Morgan Stanley found. "UBER/LYFT/DASH already use ML [machine learning] in their matching algorithms (matching rides/eaters with drivers/couriers)," Morgan Stanley wrote in its report. AI tailwind for Uber Uber has both its ride-sharing service and UberEats food delivery business. According to Morgan Stanley, AI and machine learning will be a tailwind to network efficiency. "The extent to which AI drives substantial improvements in top-line growth could lead to teens upside [for the stock]," Morgan Stanley said.

☆ Uber will now let parents put their teens in rides alone
▼ + stars: | 2023-05-17 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Uber is rolling out new features to make it easier for people of all ages to access its ride-hailing service, including an option that will let teens under the age of 18 ride alone for the first time. Previously, those under the age of 18 were not allowed to use Uber without being accompanied in the car by an adult. A live trip-tracking feature also lets a parent follow the trips’ progress via the Uber app. And parents can contact the driver directly during the trip as well as contact Uber’s support team. Uber has reported strong growth in recent quarters, defying a slump that has hit much of the tech sector in recent months.

☆ Here are all the new features coming to Uber, including teen accounts, group rides, and fancy car seats
▼ + stars: | 2023-05-17 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

These updates included accounts for teens, group rides, group grocery orders, and Nuna car seats. These updates included accounts for teens, group rides and grocery orders, and a partnership with car seat brand Nuna. Teen accounts on Uber will be available in some US and Canadian cities beginning on May 22. Group rides will roll out in the upcoming weeks, though Uber did not provide a specific date. Group grocery ordersUberBeginning on May 17, a new group order feature on UberEats will allow you to split your weekly grocery delivery with your family or roommates.

☆ Uber announces a bunch of new features, including one that lets you book rides without the app
▼ + stars: | 2023-05-17 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Uber announced several new features on Wednesday during the company's annual Go-Get product showcase. The new options include the ability to reserve a ride with a car seat, to call an Uber without the app, and to add teens to a family profile, among others. 1-833-USE-UBERUber has introduced a phone number people can call to book a ride without using the Uber app. The company said this will help people who might struggle with navigating smartphones or apps access the same "effortless" Uber experience. People in the U.S. can request a ride by speaking English or Spanish at 1-833-USE-UBER, or 1-833-873-8237.

☆ How Lyft’s new CEO is ‘copying’ his former boss Jeff Bezos to turn around the company
▼ + stars: | 2023-05-12 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +5 min

Days after taking over as the new CEO of Lyft (LYFT) last month, Risher announced plans to “significantly reduce” the company’s workforce and stressed that the decision was his. The next week, Lyft (LYFT) revealed the extent of the layoffs: 26% of the staff, or more than 1,000 employees, would lose their jobs. It has lagged behind its chief rival, Uber (UBER), in recovering from the pandemic shock to business. And that really is Jeff Bezos,” Risher told CNN. “It’s not our focus to be part of somebody else’s company,” Risher said.

☆ Uber customers in the UK will be able to book flights on its app by the summer
▼ + stars: | 2023-05-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

On Wednesday, Uber rolled out the ability to book flights to select customers in the UK. Uber is adding a new addition to its app that lets customers book plane tickets, the Financial Times first reported. It will be rolled out to all UK users this summer as part of its ambitions to create a "super app" for public transport. "Over the last 12 months with the addition of rail, coach, and now flight bookings, Uber is truly a one-stop travel solution." Brem told the newspaper that the launch of commercial flight bookings was "the latest and most ambitious step" in its goal to expand Uber into a larger travel app.

☆ Lyft rattles Wall Street as margins suffer in race with Uber
▼ + stars: | 2023-05-05 | by ( Aditya Soni | ) www.reuters.com time to read: +2 min

May 5 (Reuters) - Lyft Inc shares (LYFT.O) tumbled nearly 20% on Friday as the ride-hailing company's strategy to claw back market share from rival Uber (UBER.N) with lower fares stoked concerns about a hit to its profit margins. At least 16 analysts slashed their price targets on a stock that has widely underperformed the market this year. The company's market capitalization was set to decline by nearly $800 million to about $3.3 billion, a far cry from the over $24 billion valuation it commanded in its 2019 stock market listing. "This looks like an Everest-like uphill battle ahead for Lyft in our opinion," said Dan Ives of Wedbush Securities. Lyft shares underperform Uber'sReporting by Aditya Soni; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

☆ What would your CEO learn doing your job for a day? We want to know.
▼ + stars: | 2023-05-05 | by ( Hayley Peterson | ) www.businessinsider.com time to read: +1 min

Some CEOs are moonlighting as frontline workers to root out problems. Uber's CEO became a delivery driver and Starbucks' CEO worked in stores alongside baristas. Do you think your CEO should do your job for a day? Uber CEO Dara Khosrowshahi secretly signed up as a driver last year, transporting dozens of passengers and deliveries around San Francisco. If you think your CEO should spend a day in your role, tell us why — and what they might learn from the exercise — in this survey.

☆ Uber wants to know where you're going and what you'll order before you do
▼ + stars: | 2023-05-03 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Uber applied for a patent on technology that predicts customers' habits. The ride-hailing company has filed for a patent on technology that would enable the app to predict riders' habits. There are several iterations in which Uber could provide drivers with a user's exact location or a general pickup area. This forecasting tech is just one way Uber uses artificial intelligence to personalize and improve user experience. For example, the app currently uses AI to predict arrival and delivery times, CEO Dara Khosrowshahi told CNBC on Tuesday.

☆ Premarket stocks: What happens above 5%? The Fed's big risk
▼ + stars: | 2023-05-03 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

However, job openings that month tumbled to their lowest level since May 2021, according to data released Tuesday. The shifting landscape paved the way for the collapse of Silicon Valley Bank in March and First Republic Bank this week. By blessing JPMorgan’s takeover of First Republic Bank, the Democratic US senator fears federal regulators just made the “too big to fail” problem even worse. To the relief of investors and bank customers, the JPMorgan deal protects all of First Republic’s depositors. The decision to invest in food and grocery delivery during the pandemic has become a big advantage for Uber.

☆ Uber Is Firing on the Most Important Cylinders
▼ + stars: | 2023-05-02 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Uber’s quarterly ride-share revenue jumped 72% year over year to $4.3 billion. Photo: David Paul Morris/Bloomberg NewsHow well is Uber Technologies doing these days? Well enough that it can afford to be magnanimous. The ride-share giant had some kind words for its smaller and struggling rival Lyft on Tuesday. “Those days are over,” he said.

☆ Uber confident on profit as ride-sharing makes strong start to 2023
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] Uber branding is seen on private hire vehicle at Chopin Airport in Warsaw, Poland, March 22, 2023. Shares of the company rose 10%, while those of smaller peer Lyft Inc (LYFT.O) gained 4% in pre-market trading. Uber is benefiting from its dominant position in key global markets as travel rebounds from a pandemic-induced lull. The dominant U.S. ride-sharing company also forecast gross bookings, the total dollar value from its services, between $33 billion and $34 billion, compared with expectations of $33 billion. Uber said adjusted EBITDA came in at $761 million, its highest on record as a public company.

☆ Uber CEO Dara Khosrowshahi on Q1 earnings
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUber CEO Dara Khosrowshahi on Q1 earningsUber CEO Dara Khosrowshahi joins 'Squawk Box' to discuss the company's Q1 earnings results and 2023 outlook, the impact of A.I., and the lessons he learned being a driver himself.

☆ Uber revenue beats expectations and the stock is up
▼ + stars: | 2023-05-02 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Shares of Uber popped 9% in premarket trading Tuesday after the company reported first-quarter results that beat analysts' expectations for revenue. Here's how the company did:Loss per share: 8 cent loss vs 9 cent loss expected by analysts, according to Refinitiv. 8 cent loss vs 9 cent loss expected by analysts, according to Refinitiv. Revenue: $8.82 billion vs. $8.72 billion expected by analysts, according to Refinitiv. Uber reported a net loss of $5.9 billion for the same quarter last year.

☆ Uber CEO reveals 4 ways to boost your rider ratings — and tipping isn't one of them
▼ + stars: | 2023-05-02 | by ( Hannah Towey | ) www.businessinsider.com time to read: +2 min

Uber CEO Dara Khosrowshahi revealed the best way for passengers to increase their ratings. Uber CEO Dara Khosrowshahi shared four pieces of advice for passengers looking to boost their ratings in an interview with CNBC Tuesday morning. He said a only a minority of Uber riders tip. Khosrowshahi's insight is based on his experience going undercover as an Uber driver last fall in order to better understand the issues facing gig workers. He told CNBC he's a 5-star driver and the tips are "pretty good."

☆ Uber shares jump after first-quarter revenue beats expectations. Here's what the experts have to say
▼ + stars: | 2023-05-02 | by ( Joshua Natoli | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the best reactions from investors and analysts on the rally in Uber shares. The experts, including Jim Cramer , discussed the ride-sharing giant after Uber reported better-than-expected revenue in the first quarter . CEO Dara Khosrowshahi said Uber is off to a "strong start" for 2023. Revenue for the quarter was up 29% year over year. Uber shares finished the session more than 11% higher.

☆ Uber’s Revenue Up 29% as U.S. Ride-Hailing Business Improves
▼ + stars: | 2023-05-02 | by ( Kellen Browning | ) www.nytimes.com time to read: 1 min

The NewsUber said on Tuesday that its revenue grew 29 percent in its most recent quarter as the company benefited from a series of investments in new services, as well as the continued return of drivers to its ride-hailing business. The company said it had $8.8 billion in revenue, roughly in line with investors’ expectations. Uber had $31.4 billion in gross bookings — the amount of money paid by customers — a 19 percent jump from a year ago. Uber said it remained on track to generate a quarterly profit from the strength of its business operations sometime this year — a milestone on the road to overall profitability. “With our global scale and deeper local density, we are increasingly separating from smaller regional competitors both on driver preference and on the breadth of mobility products we offer consumers,” Dara Khosrowshahi, Uber’s chief executive, said in a statement.

☆ Uber CEO Dara Khosrowshahi shares the biggest lesson he learned being a driver himself
▼ + stars: | 2023-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUber CEO Dara Khosrowshahi shares the biggest lesson he learned being a driver himselfUber CEO Dara Khosrowshahi joins 'Squawk Box' to discuss the company's Q1 earnings results and 2023 outlook, the impact of A.I., and the lessons he learned being a driver himself.

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