Inside the Disaster that is Uber

Amir Efrati at The Information has a beautiful new feature for us. Here’s the hook: Uber CEO Khosrowshahi faces a reckoning. Despite cost-cutting, Uber’s losses are far higher than projected and it is losing ground in each of its key businesses. Investors and employees question whether he is up to the job of turning Uber […]

Uber Founder Travis Kalanick Departs Board, Sells All His Shares

Micah Maidenberg at the Wall Street Journal reports that Travis K. has cut all ties with Uber: Travis Kalanick is leaving the board of Uber Technologies Inc. UBER +1.22% after selling all of his shares in the ride-hailing giant he co-founded and once led. Uber said in a statement Tuesday that Mr. Kalanick’s departure from the board will be effective […]

Uber Hit with $650 million Employment Tax Bill in New Jersey

More good news for Uber: Uber Technologies Inc. owes New Jersey about $650 million in unemployment and disability insurance taxes because the rideshare company has been misclassifying drivers as independent contractors, the state’s labor department said. Bloomberg Law Oops. For those who haven’t been following this saga closely, Uber’s entire business model depends on classifying workers […]