The left is celebrating the possibility of Uber going away stemming from an allegedly large operating loss and a recent California ‘ruling’.
The left has hated Uber since its inception, accusing the wildly successful company of exploiting its drivers and undercutting the staid cab cartel.
What about that big Uber loss that the left is jumping for joy about? Not so fast, sperts.
Uber is reportedly losing boatloads of money
Apparently, not surprisingly, it’s a bunch of BS, an unsubstantiated ‘report’ pulled out of thin air to defame Uber and get ad clicks for the disingenuous media publications that disseminated it.
The Bloomberg report showed $470 million in operating losses with $415 million in revenue, but the report said it was not clear whether the numbers were the results of one quarter, a full year, or some other time period. Nor does it say when the financial numbers are from.
“These are substantially old numbers that do not reflect business activities today,” an Uber representative told Business Insider. The company declined to clarify the time period or time frame for the numbers, but it has said the prospectus was not being distributed by Uber.
That’s the state of journalism today – if you can’t have a crisis, just make it up.
Second, what about the California ruling that is supposed to be the deal knell for Uber?
Uber is not going away if some drivers become employees. This ruling only effects California and a single driver, as explained by an article in Forbes:
California did not rule that Uber drivers are employees. Rather, a single labor commissioner made that finding (not a ruling) in an informal, non-binding hearing that is based on the facts of the specific driver’s circumstances, applies only to that driver, is likely to be appealed, and is of no precedential effect. Other commissioners in other circumstances have found the opposite
The details…things like facts.. tend to get lost in the emotive liberal narratives.
Think about it…If someone only becomes a driver once, how could they possibly be considered an employee? That makes no sense, since they hardly have any involvement. The independent contractor model is as old as business itself and involves trades as diverse as electricians, plumbers and computer repairmen. Uber is one of the most successful companies to take advantage of it. The liberals, who whine about Uber all the time, ignore that obamacare is a contributing factor to the proliferation of the ‘sharing economy’.
Uber is a great idea whose time has time. The liberal media is so desperate for Uber to fail, just like they want the stock market and economy to crash, that journalistic integrity – what little they ever had – has been swept away.