2019-05-08 12:05:23

Rideshare Drivers Strike Ahead of Uber IPO



GUEST: James Hicks, a rideshare driver and organizer with Rideshare Drivers United.

BACKGROUND: The rideshare app company Uber is making its Initial Public Offering (IPO) on Friday and is hoping for a whopping $91 billion valuation, which would make it the biggest such offering in years. The company has set aside about 3% of its shares for its drivers - a benefit only about a quarter of them will receive.

Uber and Lyft drivers have long been unhappy about their treatment at the company and have planned a 1-day strike on Wednesday May 8th, two days ahead of Uber's IPO. The strike is the latest action by drivers in cities across the country with the last one taking place on March 25th. This next strike will be organized by rideshare drivers in Los Angeles, New York, Chicago, and San Francisco.

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