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The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

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Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar

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The rise of 'conspicuous waiting': The 19th-century economic theory that explains why Gen Z posts their place in line

2

Tim Cook signed off on his final Apple earnings call with a warning about a ‘100-year flood’ in memory chip pricing

3

Millennials say they’ll refuse to care for aging boomer parents—but they’ll be forced to as their inheritance shrinks to 40 cents on the dollar
TechUber Technologies

Uber Drivers Plan 12-Hour Strike As Company Looks Toward IPO

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
April 24, 2019, 12:12 PM ET
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Not everyone’s thrilled about Uber’s looming IPO.

Drivers of the ride share service are organizing a limited-time work stoppage in seven cities to bring attention to their lack of benefits and recent pay reductions. Drivers are forming online groups in San Francisco, San Diego, Los Angeles, Chicago, Minneapolis, Philadelphia, and Washington, D.C. to organize the effort. The action is currently set for May 8.

Joining them are advocacy groups, such as California’s Gig Workers Rising and Chicago Rideshare Advocates.

Beyond better salaries and benefits, workers tell Gizmodo they are seeking decision-making transparency, and a greater voice for drivers.

Of course, it’s unlikely that Uber will completely shut down in cities where the work actions take place, but it could drive up prices and wait times for customers. And drivers are increasingly congregating in Facebook groups and other social media hubs.

Uber is still in the early stages of its IPO road show and there’s no estimated date yet when shares will being trading (though it is expected to be one of the five largest in history). Recent filings with the SEC, however, show the lead the company has over Lyft.

Last year, it posted $11.3 billion in revenue, versus Lyft’s $2.2 billion. It had 91 million users in 2018, compared to Lyft’s 30.7 million. And It has nearly twice as many drivers.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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