This Week In Rideshare: Gig Work, Uber Lawsuits, and Robotaxis.
GenZ joins gig work, Uber fights lawsuits, and issues with robotaxis. LegalRideshare breaks it down.
GENZ JOINS GIG WORK
GenZ joins the gig work movement. NBC Miami reported:
According to Bankrate more than 48% of GenZers and 44% of Millennials has a side hustle. Also, parents or guardians of kids younger than 18 are 45% more likely to have a side hustle.
The study shares that the average side hustler makes more than $890 a month in extra income. Those who identify as side hustlers, more than 50% of them have only been making side money for two years or less.
Bankrate says 37% of side hustlers use their income to fund purchases, 36% for regular living expenses, 31% save a portion of their funds, 20% put a down payment on a home and 16% are hoping to make it their only revenue stream.
UBER TRIES TO STOP LAWSUITS
Uber is looking to stomp out lawsuits. NY Times reported:
The company is seeking to place a measure on Nevada’s ballot that would drastically limit the amount of money that lawyers could collect when they brought successful lawsuits. If the measure passes, it will make it less attractive — and in some cases financially impractical — for plaintiffs’ lawyers to file such suits.
The initiative is being spearheaded by Nevadans for Fair Recovery, a political action committee created this year by Uber and its lobbyists. The company has put $5 million into the PAC and is its only financial backer, campaign finance records show.
Contingency fees allow lawyers to take on cases without requiring clients to pay anything out of pocket. Lawyers shoulder the costs of bringing the lawsuit in exchange for a cut of any settlement or judgment. Large payments in successful cases help cover the costs of lawsuits that do not yield any money. But businesses have long complained that high contingency fees drive up costs for the public and exist primarily to enrich lawyers.
UBER UNIMPRESSED WITH TESLA’S ROBOTAXIS
Uber’s CEO sees major issues with Tesla’s robotaxi plan. The Street reported:
Khosrowshahi claimed that Tesla’s robotaxi plan, which will allow Tesla owners to rent out their vehicles to be used as driverless taxis for a profit, may not get the thumbs up from Tesla owners.
He said that it is “not clear” to him that the average Tesla owner will want to have their car “be ridden in by a complete stranger.”
He also stated that allowing Tesla owners to rent out their cars for taxi services will make it difficult to manage the “peaks and valleys” associated with supply and demand.
“It just so happens that probably the times at which you’re going to want your Tesla are probably going to be the same times that ridership is going to be at a peak,” said Khosrowshahi.
Khosrowshahi also revealed during the interview that he is skeptical about society’s acceptance of driverless vehicles due to worries about safety, and how people are more accepting of mistakes from human drivers than robots, which can pose a challenge for robotaxis.
The CEO also highlighted that the rideshare industry is “very” different from the business of building vehicles, which Tesla has expertise in, and that a lot can go wrong such as car accidents, passengers getting sick or losing items in cars or wanting to pay in cash.
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