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Uber’s Terrible, Horrible, No Good, Very Bad String Of Events

Uber’s Terrible, Horrible, No Good, Very Bad String Of Events

Uber is en route to a massive IPO. As the company gets closer to its destination, its once 5-star rating is rapidly diminishing. As a result, the company’s president, Jeff Jones, opened the Uber door and jumped out after only six months on the job. The list of recent offenses, not all incidents since its launch, just some of the events over the last several weeks, have been very public and damning. To name a few… Uber CEO Travis Kalanick joined…

Google’s Autonomous Driving Group Spins Out as Waymo; Becomes the Android of Self-Driving Cars

Google’s Autonomous Driving Group Spins Out as Waymo; Becomes the Android of Self-Driving Cars

This week, Google surprised the technology and automotive industries by announcing that it would spin-out its self-driving vehicle group as a formal business unit under the Alphabet umbrella. What does Waymo mean? Waymo CEO John Krafcik explained at its press conference that the company name stands for, “Way forward in Mobility.” After years of speculation as to whether or not Google (now Waymo) would introduce its own fleet of self-driving cars, its now clear that the company will become an enabling partner…

Uber Loses $1.2 Billion by Q2 2016: The Hard Costs of Innovation and Disruption

Uber Loses $1.2 Billion by Q2 2016: The Hard Costs of Innovation and Disruption

Goodbye sharing economy, hello to the on-demand economy… Bloomberg’s Eric Newcomer reported that on a recently Uber quarterly call with shareholders, the company’s head of finance, Guatam Gupta announced that Uber’s losses continue to escalate. Total losses in the first half of 2016 totaled an astounding $1.2 billion. According to Bloomberg’s sources, there are several reasons for this. For one, subsidies for Uber’s drivers are responsible for the majority of the company’s losses globally. On top of that, Uber has been investing billions…

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