Monthly Archives: August 2015

What Uber Can Teach Us About American Government

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“Uber’s clash with government is uniquely popular among apolitical folks but its struggles are all too common. I applaud readers for following these developments and supporting Uber. But I encourage them to also pay attention when this happens to firms without huge national followings; to support the rights of all businesspeople to freely conduct their affairs and engage in mutually-agreeable transactions with other consenting adults.  It’s easy to stand up to abuses when a company is widely known and loved. But the universal applicability of the rights we want Uber to have is crucial for two reasons.”

https://brianruddock.wordpress.com/2015/07/18/what-uber-can-teach-us-about-american-government/

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Uber vs. the State, 1851 Edition

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“But, they insisted, they weren’t arguing in favor of a monopoly in the ferry business — no, they pointed out that their permit actually required them to run more frequent ferries if demand so warranted.  Therefore there was no danger of a monopoly, because they could be trusted to operate more ferries if need be. This proved that there was no necessity for a new ferry company to compete against them, and that the government should not have granted the second company a permit.  This is precisely the same argument made today by existing taxi monopolists who oppose the introduction of Uber and other ride-sharing companies.”

http://fee.org/anythingpeaceful/detail/uber-vs-the-state-1851-edition

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UberPOP halts service in France after clampdown, protests

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“After fierce protests last week by licensed French taxi drivers who argue it threatens their livelihood with unfair competition, France took two executives from California-based Uber into custody and said they will face trial in September.  France’s legal clampdown was the latest setback for Uber in Europe. An Italian court in May banned unlicensed car-sharing services, two months after a German court issued a similar ban and imposed stiff fines for violations of local transport laws. Prime Minister Manuel Valls welcomed the decision but said France’s licensed taxis needed to improve the quality of their service, often criticized by locals and foreign visitors.”

http://www.reuters.com/article/2015/07/03/us-france-uber-idUSKCN0PD0Y320150703

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Uber executives detained by police in Paris

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“Two executives working for Uber in Paris have been arrested following months of fraught legal battles over the app-based ride hailing service.  The two unnamed executives were detained on Monday, city prosecutor Agnes Thibault-Lecuivre confirmed to the Associated Press. Details of any possible charges were not released immediately by authorities, with the prosecutor saying merely that they were in custody for questioning over ‘illicit activities’.  Uber has naturally argued, as it has in London and other cities, that it should not be punished for its technical innovation and convenience advantage over older cab systems that are unable or unwilling to innovate.”

http://www.wired.co.uk/news/archive/2015-06/29/uber-paris-arrests

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French Police Ordered to Crack Down on Uber After Strike Turns Violent

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“Yesterday’s protest made big news when it turned violent and ensnared Courtney Love, who tweeted the incident, saying her car had been ambushed and her Uber driver attacked. Like the shutting down of highways and other transportation links, violence too is a common tactic of the striking French taxi driver. For several years taxi drivers have targeted and attacked Uber drivers and their passengers. Earlier this week France 24 reported about a French man who was attacked by a cabbie after pointing out he couldn’t tell if the taxi was on-duty and noting that that was why Uber outcompeting the taxi drivers.”

http://www.cnn.com/2015/06/26/europe/france-paris-uberpop-protests/

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Uber reduced drinking and driving deaths in California, study suggests

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“Uber’s economy driving service appears to have reduced drinking and driving deaths in California cities where the service is offered, says a new study that comes as many Canadian municipalities are trying to keep the service from expanding in their cities.  The study analyzed data from 2009 to 2014 and concluded the UberX service resulted in a decrease in drinking and driving deaths of between 3.6 and 5.6 per cent in the Californian cities where the service is offered. The researchers speculate the cheaper price of Uber and its easy access, compared to regular cabs, make people more likely to call the service when they have been out drinking.”

http://www.theglobeandmail.com/news/british-columbia/uber-reduced-drinking-and-driving-deaths-in-california-study-suggests/article25820101/

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SF’s Infrastructure Is Falling Apart Because People Keep Peeing On It

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“How many times do we have to say it? San Francisco, stop pissing on your city.  A streetlight fell down Monday night in the city’s Nob Hill neighborhood, narrowly missing a driver. The streetlight was old, officials said, but its metal base was also heavily corroded. Corroded by pee.  Public urination is such a problem that the city’s utilities commission is mounting a visual check of all 25,000 streetlights. And urine-soaked lamp posts aren’t the only infrastructure being undermined. The city recently finished painting nine walls with hydrophobic paint designed to repel the piss of people who treat the city like their own personal urinal.”

http://gizmodo.com/sfs-infrastructure-is-falling-apart-because-people-keep-1722251849

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Apple has lost $90 billion in market cap in the last 2 weeks

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“Apple’s market capitalization has dropped by roughly $90 billion since July 20, as CNBC first noticed.  Apple stock has been dropping since July 20, the day before it reported earnings. As of Tuesday, for example, stocks were down by more than 14% since that date. Apple stock is currently up 0.38% at $115.07 per share.  At its highest, Apple’s market cap surpassed $765 billion earlier this year in February.  Analysts have been concerned about Apple’s reliance on the iPhone, whose sales are slowing, and think it will be hard for Apple to grow its smartphone market share in China — last quarter, Apple’s share slipped into third place behind Xiaomi and Huawei, according to Canalys.”

http://www.businessinsider.com/apple-market-cap-down-90-billion-2015-08

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Qualcomm cuts workforce by 15% as stock turns down

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“Qualcomm announced Wednesday that it would cut its workforce by about 15 percent contributing to a total of $1.4 billion in cost reductions. It also announced changes to its board and executive compensation.  The San Diego-based chipmaker said it would be reviewing structural alternatives to splitting the company. Reports surfaced earlier this week that Qualcomm could spin off its less profitable chip business.  Qualcomm has reduced the outlook for its semiconductor business for the fiscal fourth quarter, driven by reduced demand and lower sell through in China.  Shares of Qualcomm have tumbled more than 20 percent over the past 12 months.”

http://www.cnbc.com/2015/07/22/qualcomm-q3-earnings-2015.html

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Keurig Founder Loses $144M In Minutes As Shares Crash

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“The fortune of Keruig Green Mountain’s founder Robert Stiller fell off a cliff along with the company’s stock on Wednesday, on the back of sinking earnings and plummeting sales. Stiller saw the value of his shares in the beleaguered company drop a stunning $143.9 million in minutes as afterhours traders sold the stock en masse.  Stiller, who hasn’t been a billionaire since May 15 when shares in Keurig Green Mountain fell below $100, saw the value of his stock drop 27% in afterhours trading, after investors were disappointed with the company’s earnings. Declining sales for their K-cup coffee pods and coffee machines, along with shrinking profits did the trick.”

http://www.forbes.com/sites/afontevecchia/2015/08/05/keurig-green-mountains-founder-losses-144m-in-minutes-as-shares-come-crashing-down/

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