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Persons: we've, Slack, Chase, isn't, you'll, Bradstreet, cardholders Organizations: Business, Bank of America Business, Credit, Mastercard, Capital, American Express, Singapore Airlines, Emirates, Best, Bad Credit, Card, Bank of America, National Bank of Locations: Amex, National Bank of Omaha, Dun

☆ Minneapolis gives Uber and Lyft a reason to stick around — at least until July
▼ + stars: | 2024-04-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Lyft and Uber might hit reverse on plans to leave Minneapolis on May 1 over a new minimum wage for rideshare drivers set to go into effect on that day, if a city council measure passes Thursday. The issue stems from a March decision by the city council to override the mayor’s veto of a minimum wage for rideshare drivers, set at the local minimum wage of $15.57 an hour. The ordinance mandates rideshare drivers make at least $1.40 per mile and $0.51 per minute within Minneapolis. Now some council members want to amend the ordinance and lower the per-mile rate to $1.21, but maintain the proposed per-minute rate of $0.51. With this amendment, we can accomplish those goals.”The statement was released by Council President Elliott Payne and Council Members Katie Cashman and Aurin Chowdhury.

Persons: New York CNN — Lyft, Uber, Lyft, ” Uber, Jacob Frey, Frey, KARE, Elliott Payne, Katie Cashman, Aurin Chowdhury, Lyft didn’t Organizations: New, New York CNN, Minneapolis City, Twin, CNN, Minneapolis Star, Tribune Locations: New York, Minneapolis, Twin Cities, Minnesota

☆ An Uber and Lyft driver explains how he sometimes makes over $8,000 a week doing private rides in Miami and Fort Lauderdale for celebrities, politicians, and sports stars
▼ + stars: | 2024-03-26 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +10 min

One week, he made $8,300 doing private rides between stretches of Uber and Lyft driving. He started his own LLC and occasionally markets his independent driving business as a passenger. "You have to treat Uber and Lyft like a business if you're doing it full-time," Trent told Business Insider. "I do rideshare quite a bit, but I do it mostly to build my client business," Trent said. He said he can often charge customers much less than what they pay for Uber or Lyft rides, and he still makes more.

Persons: Trent T, Uber, Lyft, Trent, lupus vasculitis, didn't, Guy, he's, He's, they've, I'm, it's Organizations: Service, Business, Trent, Tesla, Nationwide, Border Patrol, Federal Air Marshal Service, Aldi, NFL, Uber, Miami Locations: South Florida, Texas, Mexico, Atlanta, Florida, Tennessee, Miami, it's, Miami Beach

☆ A month's pay in one week: South Florida Uber and Lyft drivers explain how they capitalize on the spring break rush despite 'a little sand' and 'crappy music'
▼ + stars: | 2024-03-23 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +13 min

Police made 573 arrests in Miami Beach last spring break and confiscated over 100 guns, per The Wall Street Journal. For some drivers, spring break is their ticket to a vacation of their own, but for others, the spring break slowdown has thrown their earnings for a loop. Many, like Jared S., 27, say they don't actively seek out spring breakers, though sometimes spring break rides can be profitable. AdvertisementBreaking up with spring breakMike McGrath, 57, is glad spring break is more under control this year. AdvertisementCapitalizing on spring break crowdsRenee said maximizing her earnings during spring break comes down to knowing when to be in certain areas.

Persons: Trent T, South Florida — Uber, it's, he's, Trent, He's, I'm, You'll, Jared S, Juan, Mike McGrath, McGrath, David Lowell, he'll, Lowell, Renee, Lyft, John D, John, Hiedi, Handford, Mark, there's, Marian O, Eliezer, Edgar Organizations: Service, South Florida —, Trent, Miami Beach, Police, Street, West Palm Beach, Miami, Delray, Facebook Locations: South Florida, Miami, Miami Beach, Florida, Fort Lauderdale, Palm Beach, Cuba, West Palm, South Beach, Delray Beach, Tennessee, Ubers, Boca Raton, Nicaragua, Venezuela

☆ A part-time Uber and Lyft driver who primarily works around Disney in Florida said spring break is very profitable, but making enough year-round is difficult
▼ + stars: | 2024-03-16 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Jorge, 56, said driving for Uber and Lyft amid the big Florida spring break rush during the last few weeks has been profitable. The rideshare driver, who asked to only use his first name for fear of professional repercussions, said spring break is not like the rest of the year. AdvertisementHe said he's driving more hours during spring break to maximize his earnings, working all day on weekends in addition to his normal weekday schedule. Rides in South Beach were profitable during spring break, and he would drive around casinos and other tourist destinations. He estimates some days during spring break, he's making more money from tips than from fares.

Persons: Jorge, Uber, he's, it's, He's, we've Organizations: Service, Walt Disney World, Disney, City Council Locations: Florida, Orlando, Miami, South Beach, Disney, Minneapolis

☆ Lyft and Uber to cease operations in Minneapolis after new minimum wage law
▼ + stars: | 2024-03-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Lyft and Uber will stop offering services in Minneapolis on May 1 after the city council overrode the mayor’s veto of a minimum wage for rideshare drivers. The city council on Thursday voted 10-3 in favor of the override, allowing rideshare drivers to be paid the local minimum wage of $15.57 an hour. “Everyone wants to see Uber and Lyft drivers get paid more. However, the analysis Frey referred to showed lower numbers — $0.89 per mile and $0.49 per minute — to make minimum wage. Minneapolis is debating the minimum wage as gig workers across the country are advocating for fair wages and job benefits.

Persons: New York CNN — Lyft, Uber, Lyft, ”, it’s “, Jacob Frey, ” Frey, Frey, Tim Walz, ” Lyft, – CNN’s Jennifer Henderson, Ramishah Maruf Organizations: New, New York CNN, CNN, Twin, WCCO, Minnesota Gov, Democrat, Uber, New York City Locations: New York, Minneapolis, Twin Cities, Minnesota, California

☆ Uber and Lyft are threatening to leave Minneapolis over a ride-hailing proposal supporters say would guarantee drivers earn the city's minimum wage
▼ + stars: | 2024-03-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +10 min

The conversation around ride-hailing driver pay has been heating up across the country over the past year. AdvertisementLoren Balazs, a full-time driver in Minneapolis, told BI he's worried the city council's proposal would hurt his ride-hailing business. The study estimated that a minimum pay rate of $1.21 per mile and $0.49 per minute would guarantee drivers earned the city's minimum wage. AdvertisementThe debate over minimum pay for ride-hailing drivers has been building in Minneapolis for over a year. Tim Walz vetoed a bill that would have established minimum pay standards for Uber and Lyft drivers.

Persons: —, Erin Hatton, Jacob Frey, Lyft, Lyft haven't, Uber, behemoths wouldn't, aren't, Axios, Alexandrea Ravenelle, Sergio Avedian, Guy, Austin, Avedian, Joe Pierce, he'd, Loren Balazs, Sheri Wegner, they'll, Mayor Frey, Tim Walz Organizations: Service, Business, University at Buffalo, Minneapolis City Council, Minneapolis, New, Seattle, Minnesota, University of North, Star Tribune, Minnesota Gov, Uber, Minneapolis City Locations: Minneapolis, Minneapolis ? Minnesota, New York City , Washington, California, Chicago and Massachusetts, Washington, Seattle, Minneapolis . Washington, Alexandrea, University of North Carolina, Minnesota, Twin Cities

☆ The biggest perk of gig work might also be its downfall
▼ + stars: | 2024-03-10 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

Many gig drivers lured by the flexibility of gig work say the flexibility of their job is often limited. AdvertisementMany drivers for Uber, Lyft, and other rideshare and delivery apps say they value the flexibility of gig work over any other component. AdvertisementMany part-time drivers have previously told BI they value gig driving for the ease with which they could supplement their core income. Some drivers told her they would work 16-hour overnight shifts on weekends to find higher-paying, better-tipped rides. "Uber and its peers appeal to workers with oodles of promises that workers can hold the power to control their work hours.

Persons: —, Uber, Sergio Avedian, Guy, Avedian, Lyft, Uber hasn't, Lindsey Cameron, Cameron, you've, Laura Katsnelson, Felix Oberholzer, Gee, Katsnelson, Katie Wells, Wells Organizations: Uber, Service, Business, Wharton School, Unit, Harvard Business School, Workers, Georgetown University Locations: Jacksonville , Florida, Los Angeles

☆ I quit my draining IT job and moved to South Korea to teach English. The language barrier is tough, but I'm much happier here.
▼ + stars: | 2024-03-08 | by ( Jen Glantz | ) www.businessinsider.com time to read: +6 min

Alex Brown, a UK native, moved to South Korea to teach English after quitting his IT job in 2023. Despite language and navigation challenges, Brown enjoys his new job and life in South Korea. AdvertisementThis as-told-to essay is based on a conversation with Alex Brown, a 30-year-old from Hampshire, England, who moved to South Korea to teach English. AdvertisementI started researching and discovered programs where I could teach English in different countries. AdvertisementI'm glad I picked South Korea to live for a yearMy experience here has been positive so far.

Persons: Alex Brown, Brown, —, Cheongju, I've, I'd, Uber, haven't Organizations: Service, Google, Cheongju Locations: South Korea, Hampshire, England, Bali, Cambodia, India, Turkey, Cheongju, Jikji, Asia, America, Caribbean

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Apple, Microsoft, Oracle, Arm, Rivian, Lyft & more
▼ + stars: | 2024-03-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: Goldman Sachs reiterates Tesla and Rivian as neutral Goldman said further price cuts are needed for Tesla and Rivian. Morgan Stanley downgrades Sunnova to equal weight from overweight Morgan Stanley said in its downgrade of the solar company that it sees stock "dislocation." JPMorgan upgrades Sea Limited to overweight from neutral JPMorgan said the Singapore-based internet tech conglomerate is on an "upswing." JPMorgan initiates Amphastar as overweight JPMorgan said it's bullish on shares of the pharmaceutical company. JPMorgan initiates Metagenomi as overweight JPMorgan said it's bullish on shares of the biotech company.

Persons: Goldman Sachs, Tesla, Goldman, TD Cowen, Arm's, Ian Thornton, Morgan Stanley downgrades Sunnova, Morgan Stanley, Baird, DA Davidson, it's, Jefferies, BJ's, it's bullish, Oppenheimer, Wolfe, Rosenblatt, Moffett, Philip Morris, Guggenheim Organizations: Tesla, Nvidia, NVIDIA, Microsoft, JPMorgan, Jefferies, UBS, disinflation, Barclays, Oracle, Citi, Novo Nordisk, CMD, Costco, Adobe, Williams, Apple, Cable, . Cable, Argus, Guggenheim, Lyft Locations: Singapore, China, Sonoma

☆ Hollywood's newest star is the Waymo robotaxi
▼ + stars: | 2024-03-04 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

Waymo can now operate its Waymo One service in Los Angeles. AdvertisementWaymo is now approved to operate its driverless vehicles in Los Angeles and additional parts of the Bay Area. Los Angeles Mayor Karen Bass expressed concern about Waymo vehicles blocking the roads when emergency vehicles are trying to pass, which has happened several times in San Francisco. Waymo vehicles have been filmed cutting off road access and blocking public transport and emergency vehicles. There are also a few incidents of Waymo vehicles injuring people.

Persons: —, Waymo, Julia Ilina, Los Angeles Mayor Karen Bass, Ilina, Illina, Tilly Chang, Cruise Organizations: Service, California Public Utilities Commission, Los, San, Los Angeles Mayor, Cruise, San Francisco County Transportation Authority, DMV Locations: Los Angeles, Bay, California, San Francisco, San Mateo, San Francisco Peninsula, San Francisco —, San Francisco County

☆ Opinion: Why ‘My Way’ won’t go away
▼ + stars: | 2024-03-03 | by ( Richard Galant | ) edition.cnn.com time to read: +17 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. “That is the way he spoke,” Anka told Ed Masley of the Arizona Republic. It may not go his way, but the failure of Congress to approve more aid to Ukraine likely is giving Putin hope. Whether Congress chooses to provide the continued financial support Ukraine, Israel and Taiwan desperately need will go a long way toward answering this question. “If Biden wants to improve his standing with voters,” wrote Jon Gabriel, “a Brownsville photo won’t cut it.

Persons: CNN — “, ”, Frank Sinatra, “, Alexey Navalny, Paul Anka, Sinatra, …, Anka, ” Anka, Ed Masley, Vladimir Putin, Donald Trump, Melania Trump, Odessa Rae, Trump, Joe Biden, Jack Smith, Mitch McConnell, McConnell, Julian Zelizer, Putin, Emmanuel Macron, Mark T, Esper, Russia resurges, ” Esper, Nick Anderson, Dahlia Lithwick, Steve Vladeck, Walt Handlesman, Biden, Nikki Haley, “ Biden, specter, ” David Axelrod, Haley, ” Dana Summers, Joe Biden John Halpin, Sophia Nelson, Catherine Russell, Russell, Ofri Bibas Levy, Yarden, Kibbutz Nir, Shiri Bibas, Ariel, ” Levy, Shiri, Kfir, Frida Ghitis, Drew Sheneman, Roe, ” Cupp, Katie Britt, Elena Sheppard, I’d, Betsy Ross, ” Sheppard, Dorothea Dix, Lucy Delaney, Elizabeth Cady Stanton, Sheppard, Kristen Kelly, Serene Williams, Clay Jones, Jon Gabriel, Gabriel, Eric Adams, Laken Riley, Raul A, Reyes, ” Don’t, David Horsey, Agency Van Jones, Ariel Dorfman, Dean Obeidallah, Shane Gillis, Noah Berlatsky, —, Kellie Carter Jackson, Lev Golinkin, Josephine Apraku, Germany Jill Filipovic, Jodie Turner, Smith, Michael Bociurkiw, Anna Arutunyan, Kirk Tanner, Jeff Yang, ” Wendy’s, ” Yang Organizations: CNN, FBI, Liberty Ball, Russia ”, Twitter, Capitol, Republicans, Senate, GOP, Trump, Republican Party, West, Tribune Content Agency Trump, Michigan Trump, Democratic, Agency, Tribune Content Agency, UNICEF, Hamas, CNN Republicans, Union, Biden, New York City, Immigration, Customs Enforcement, University of Georgia, Congressional, Stanford Locations: Moscow, Miami, Arizona Republic, Russian, Russia, Odessa, Ukraine, Michigan, “, United States, Israel, Taiwan, Washington ,, Gaza, Tribune Content Agency Gaza, Rafah, ”, Alabama, Biden’s State, Brownsville, New York, Venezuela, Germany

☆ The Absurd Problem of New York City Trash
▼ + stars: | 2024-03-02 | by ( Emily Badger | Larry Buchanan | ) www.nytimes.com time to read: +30 min

In New York City, trash has no dedicated space all its own. The Absurd Problem of New York City Trash And the Trade-Offs Required to Fix ItConsider the ubiquitous New York trash bag. The prospect has prompted much snickering: New York’s big idea to clean up trash is to … put it in trash bins? New York City Municipal Archives1913: A century in the past, but the same problems as today. New York City Municipal ArchivesBut those cans overflowed to horrifying effect during the 10-day strike:When New York streets resembled landfills.

Persons: …, that’s, ” Anthony Crispino, “, ” Cole Stallard, Stallard, Gerard Koeppel, Oscar, Neal Boenzi, New York Times Garbage, Larry C, Morris, Meyer Liebowitz, Rudy Giuliani, ‘, ”, Norman Steisel, Eric Adams, Jessica Tisch, Tisch, Hiroko Masuike, Ms, there’s, It’s, ” Harry Nespoli, workarounds, Martin Melosi, Clare Miflin, Miflin, don’t, Benjamin Miller, Martin Robertson, ” Mr, Robertson Organizations: Sanitation Department, New York City Municipal, New York Times, York’s Sanitation Department, Department, York City Municipal, District of Columbia Department of Public, New York, New York Public, The New York Times, City Hall, Avenue, West 22nd, West, Eighth, 21st, West 21st, Bronx Manhattan Queens, Financial, Center, Zero Locations: New York City, stairwells, York, New York, York City, Amsterdam, Barcelona, Berlin, Washington, Houston, what’s, Chelsea, Erie, Manhattan, ”, New Yorkers, Staten Island, New, East, Bronx, Bronx Manhattan Queens Brooklyn Staten Island, European, Harlem, New York . New York, Relatedly, Brooklyn

☆ Wendy’s says it won’t use surge pricing
▼ + stars: | 2024-02-28 | by ( John Towfighi | ) edition.cnn.com time to read: +5 min

It was never our plan to raise prices when customers are visiting us the most.”But the questions over what to call Wendy’s experiment – surge pricing? Dynamic pricing? Surge pricing refers to dynamic pricing, which is a way for businesses to charge more (or less) based on how many people want their products at any given time. “Surge pricing sent the message to everybody that this is mostly about increasing prices. “After considerable public pushback, Wendy’s is now framing their dynamic pricing strategy as discounts during off-peak times instead of surge pricing during peak times,” she wrote.

Persons: CNN —, Wendy’s, ”, Juan Castillo, Castillo, Chuck Bell, Uber, Mario Tama, ” Bell, ” Castillo, Jonathan Maze, ” Maze, Lindsay Owens, “ Organizations: CNN, University of Pennsylvania, “, Consumer, Los Angeles International Airport, Ticketmaster Locations: Los Angeles , California

☆ I've been a celebrity stylist for over 10 years. Here are 10 things you'll never find in my closet.
▼ + stars: | 2024-02-26 | by ( Sandra Okerulu | ) www.businessinsider.com time to read: +7 min

I've been working as a celebrity stylist for over 10 years, and I've seen my share of bad trends. AdvertisementI've worked as a celebrity stylist for over a decade, so I've seen plenty of trends come and go — many of which will never make their way into my closet. Wedges are heavy, and the style isn't here to stayI'm 5-foot-9, and I love showing off my legs by wearing shoes that give my ankles a run for their money. If you think I'm wrong, trying packing them for a trip. But when I'm wearing colors, I feel bold, beautiful, and ready to face new challenges.

Persons: I've, I'm, —, Jessica Simpson, Sandra Okerulu, Crocs weren't, they're, I'd Organizations: Service, Air Force Locations: Tahiti

☆ This Marsico fund has outperformed lately by finding the best growth stories
▼ + stars: | 2024-02-23 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Their flagship Marsico Focus Fund (MFOCX) has climbed 16% so far in 2024, through Thursday, outperforming both the S & P 500 and technology-heavy Nasdaq Composite . Between 60% and 75% of the portfolio is in "core" growth companies, or those that are likely to see sustained and predictable earnings growth. The balance is in companies undergoing large transformations that can catalyze earnings growth once a restructuring is complete. "When money was very cheap and interest rates were extremely low, it was easy to buy an index fund," Marsico said. "And that's why there's greater differentiation with stock pickers than just buying a general basket of market companies."

Persons: Tom Marsico, Jimmy, Peter, outperforming, Morningstar, Marsico, he's, Eli Lilly, Uber, Marsico's Organizations: Global, Janus, Marsico Capital, Focus, Nasdaq, MFOCX, Fund, Morningstar, The University of Denver, Microsoft, Meta, Nvidia, Apple Locations: Denver

☆ Pharma and rideshare providers are among most overbought S&P 500 stocks this week
▼ + stars: | 2024-02-16 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Despite the market's lack of direction this week, investors nonetheless poured into some specific stocks, pushing them into overbought territory. The RSI, which measures the magnitude and speed of price moves, is a popular yardstick used to evaluate whether shares are overbought or oversold. A stock with a 14-day RSI above 70 is considered overbought, signaling a possible selling opportunity. Biogen is another stock on the list that took a sizable drop this week, with shares tumbling more than 7%. But Wall Street anticipates a turnaround, with the consensus price target reflecting the potential for upside of more than 38%, according to FactSet.

Persons: Eli Lilly, Tesla, Morgan Stanley, Terence Flynn, FactSet, Uber, Stephen Bersey, Bersey Organizations: Dow Jones, Nasdaq, Federal Reserve, CNBC, RSI, pharma, Traders, Uber, Technologies, HSBC Locations: Thursday's, Biogen

☆ Uber is celebrating its $1 billion profit. But some drivers are feeling left behind.
▼ + stars: | 2024-02-15 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Drivers are feeling squeezedSome Uber drivers are feeling squeezed on pay. That doesn't mean drivers aren't feeling angry about a drop in pay that they say they've experienced, with data backing them up. Gridwise Analytics, a data firm analyzing the gig economy , found average monthly gross earnings for Uber drivers fell 17% last year. A more contentious issue among drivers has focused on whether or not Uber is taking a bigger slice of their fares. Yet it seems that not all drivers are satisfied — and Uber will be hoping that number doesn't keep rising.

Persons: —, Dara Khosrowshahi, he’d, Uber, ” Khosrowshahi, “, it's, ru4gU8nRa7, OEx6OEkovB Organizations: Service, Business, App Workers, “ Workers, East, Drivers, East Coast Locations: Chicago, Philadelphia, Pittsburgh

☆ Wall Street learns an important lesson. Don’t fight the Fed
▼ + stars: | 2024-02-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

That sudden volatility highlights something that we often write about in Before the Bell: the major mismatch between policymaker and investor expectations for interest rate cuts this year. Federal Reserve officials, including Chair Jerome Powell, have repeatedly said they envision at most three rate cuts in 2024. Wall Street, meanwhile, has ignored those warnings and has opted to practice unflinching optimism instead. It’s not the first time they’ve had to learn an important lesson: Don’t fight the Fed. Bad for the markets, good for the Fed: Markets clearly don’t often take kindly to higher-for-longer interest rates, which can negatively impact earnings and stock prices.

Persons: New York CNN —, Jerome Powell, Dow, It’s, they’ve, Don’t, –, ”, Quincy Krosby, Arnim Holzer, José Torres, Chris Zaccarelli, doesn’t, ” Carl Icahn, Carl Icahn, Icahn, Chris Isidore, JetBlue’s, Samantha Delouya, Lyft, Erin Brewer Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Nasdaq, of Labor Statistics, BLS, Treasury, LPL, Fed, Interactive Brokers, CPI, Independent, Alliance, JetBlue, Spirit Airlines, Analysts Locations: New York, December’s, “, ”

☆ An Uber and Lyft driver strike may force you to find another way home from the airport on Valentine's Day
▼ + stars: | 2024-02-13 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Uber and Lyft drivers are planning a midday strike at some US airports on Wednesday. It's part of a broader strike to draw attention to gig workers' pay and issues like deactivations. AdvertisementGood luck if you're hoping to get an Uber or Lyft on your way home from the airport on Valentine's Day. "These types of events have rarely had any impact on trips, prices, or driver availability, and we expect the same tomorrow," an Uber spokesperson told Business Insider. It's also common for gig workers to have their accounts deactivated without explanation by the companies they work for.

Persons: Chicago's, —, Lyft, DoorDash Organizations: Newark Liberty, Chicago's O'Hare, Service, App Workers, Newark Liberty International Airport, Chicago's, Uber, Walmart Locations: New York City, Austin , Texas, Hartford , Connecticut, Miami, Orlando, Philadelphia, Pittsburgh , Pennsylvania, Providence , Rhode Island, Tampa , Florida, New York, Seattle

☆ A typo in Lyft’s earnings release sends stock soaring – briefly
▼ + stars: | 2024-02-13 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —A typo in Lyft’s fourth-quarter earnings report caused the rideshare company’s stock to surge and then dramatically reverse course on Tuesday. In an earnings statement released after the bell, Lyft estimated its gross margin would expand by 500 basis points, or 5 percentage points. That sent the company’s stock shooting higher. On Lyft’s earnings call, held shortly after the release, the company’s chief financial officer, Erin Brewer, provided the correct estimate. “This is actually a correction for the press release,” Brewer said.

Persons: Lyft, Erin Brewer, ” Brewer, “ We’ve Organizations: CNN

☆ How to make better tips as a server: 6 workers share their secrets
▼ + stars: | 2024-02-11 | by ( Manseen Logan | ) www.businessinsider.com time to read: +4 min

As companies everywhere ask more and more customers to tip, workers who rely solely on tips to earn a liveable wage have gotten creative. However, she was able to find success and earn higher tips after she started recording her wholesome interactions with passengers. During that time, Rodriguez told BI she'd give away free desserts to earn higher tips. "This strategy works by going online on both platforms and accepting any delivery that pays $7 minimum and at least $1 per mile," he told BI. "The difference in tips with a red lip was wild," Hepner told BI. "

Persons: —, Deanna Dixon, Uber, Dixon, Olive, Rodriguez, Joseph Kaiser, Jay, Katlyn Boss, Boss, Amelia Hepner, Hepner Organizations: Service, Business, Olive, BI Locations: Salt Lake City, pigtails

☆ I'm a 'zillennial' who left the city. I don't like living in the suburbs as a young person, but I plan to stay.
▼ + stars: | 2024-02-08 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +7 min

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

☆ Here's how much Lyft says its drivers make — and how much their expenses add up
▼ + stars: | 2024-02-08 | by ( Noah Sheidlower | Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

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

☆ Uber CEO says Super Bowl ads aren't worth it without celebrity promotion ahead of 'Friends'-themed spot
▼ + stars: | 2024-02-07 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Read previewBig stars and long timelines are the secret ingredients to making a Super Bowl ad worth it, according to Uber CEO Dara Khosrowshahi. "If you are just buying for that moment, the price isn't worth it," Khosrowshahi said. AdvertisementUber Eats' slot for Sunday's game is an example of what can make the big price tag worth it, the CEO said. AdvertisementBesides starring in the ad, Aniston has also shared it on Instagram. The ad is also the start of a broader ad campaign that Uber will use "over the next three to six months," he told CNBC.

Persons: —, Dara Khosrowshahi, Khosrowshahi, Jennifer Aniston, David Schwimmer, Rachel Green, Ross Geller, Aniston, Schwimmer, it's Organizations: Service, Business, CNBC

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