It looks like Uber is in legal limbo in Nevada and will be for the foreseeable future. A number of court hearings are scheduled on the service, which means the matter will have to be settled by a higher court. That means months of appeals and high legal bills for Uber
It looks as if Uber might not be the cash cow that some people think it is. Instead, it is a very expensive business built on a lot of debt that could implode quickly. My prediction for Uber is that it will borrow a fortune from investment bankers then, when that ATM starts running empty, it will issue an IPO and a lot of worthless stock.
You can be fired at any time for absolutely no reason. Forbes contributor Ellen Huet noted that the contracts Uber has drivers sign allow it to simply cut them off at any time. The company doesn’t even have to tell drivers why they were cut off and left without income. Uber can do this because its drivers are independent contractors, not employees.
The public likes the idea of vehicles that drive themselves, The Detroit Free Press reported. The newspaper cited a Boston Consulting Group poll that found 55% of auto buyers would be likely to purchase a partially autonomous vehicle, such as some of Mercedes’ current S class.
The practice is called price optimization, and what it really means is that insurers single out those drivers willing to put up with high prices and charge them more. The software lets them spot which individuals aren’t going to switch policies.
This often puts poor people in a terrible quandary; in much of the United States, the only way to get to work, school, or the grocery store is to drive, yet the poor cannot afford to drive because of high insurance premiums. A poor person who needs to reach his or her job to buy food and pay the rent may have no choice but to drive without insurance.