Micah Rowland | Source | COO at Fountain Technology
Micah Rowland
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Fountain Technology
COO
started Sep 2018
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Why drivers are planning a global strike ahead of Uber's IPO
On the eve of Uber's long-anticipated IPO, rideshare drivers will go on strike to protest falling wages and labor practices on which the company and its rivals are built.
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Lyft sends stock on wild ride after earnings
Lyft Inc. Shares initially spiked as much as 11% in after-hours trading Wednesday following a surge in sales and a forecast for stronger annual revenue, but...
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There is tremendous pressure to make progress financially. That means more cost-cutting, as Uber did with the elimination of 400 jobs in marketing, and fare prices are bound to go up in this duopoly. Lyft is leaner than Uber, so there is less to cut.
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It would have a significant cost implication if they were to reclassify their drivers as employees. I think that would have adverse impacts on their business’s growth and profitability. It would make them more unprofitable to classify them as W-2 employees, not contractors. I don’t think there would be shareholders pushing for such a thing.
