Uber strikes could be the start of something bigger

I booked a 7am flight on Wednesday, and for once I'm glad I'm flying so early. Otherwise, I wouldn't be able to take an Uber or a Lyft to the airport. From 7am to 9am, their drivers went on strike in major cities across the US. The strikers' demands include more job security and a larger cut of the ride-sharing companies' revenues.

Sadly, the strikers are unlikely to win their fight any time soon. With Uber poised to issue shares to the public and Lyft's stock price having dropped since its IPO, the companies are under pressure to reduce their persistent losses. The quickest solution is to cut driver compensation, which the companies appear to have been doing despite increasing dissatisfaction.

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A version of this article appeared in the print edition of The Straits Times on May 10, 2019, with the headline 'Uber strikes could be the start of something bigger'. Subscribe