This website is full of rich techies so won’t affect us. However will affect less well-off people negatively.
“Paying drivers more will hurt the poor” is an interesting argument
Take that line of thought to its conclusion, and you end up claiming that paying workers anything at all hurts the poor. After all, if workers weren't paid, wouldn't prices decrease making things more affordable to the poor?
Of course, then the poor wouldn't make any money to pay for anything, but let's overlook that irrelevant detail.
Just imagining the less well off losing huge chunks of their 401ks, IRA savings, pensions, and so on when Uber loses 2% of its market cap... it's giving me chills!
Volunteer at a shelter this weekend, folks. Many of those less diversified individuals in the bread line will have seen their net worth drop double digit percentage points.
I’m not too concerned with the 401k / IRA losses when those gains wouldn’t have happened if contract drivers weren’t taken advantage of to begin with.
Easy come, easy go!