Uber Technologies Inc.’s botched market debut has a lesson for other unicorns: Don’t wait so long to go public. That’s roughly in line with Uber’s private valuation of $62.5 billion in 2015, which probably isn’t a coincidence. In June 2015, taxi drivers and their supporters protested across France, blocking roads and attacking suspected Uber drivers — a preview of protests that erupted later in other countries. That same month, the California Labor Commission ruled that Uber drivers were employees, not independent contractors, challenging the company’s business model. Can Uber continue to take business from taxi drivers without more pushback, or regulation that would impose similar standards on Uber drivers as on taxi drivers?
Source: Mint May 16, 2019 14:48 UTC