Posts belonging to Category GIG economy



Wage floor for Uber’s ride-hail drivers

The goal is to pay drivers $17.22 an hour, or $15 an hour after expenses like gas.

The New York City council passed first-of-its-kind legislation this afternoon setting a wage floor for ride-hail drivers and capping the number of ride-hail vehicles in the city. Below, our story from before the historic vote.

Uber drivers make about as much money as minimum wage workers.

In some cases they can even make less. That’s because Uber drivers are considered independent contractors, rather than employees, and aren’t protected under federal, state, and local minimum wage laws.

Uber drivers aren’t being recognized as employees (that legal battle is ongoing). But in New York City, the city council is poised to pass a package of bills that, for the first time ever, would set a wage floor for Uber drivers and their peers in the ride-hail industry.

https://qz.com/

Is Amazon a monopoly?

President Trump is ‘obsessed’ with Amazon

Capitol Hill wants Facebook’s blood, but President Trump isn’t interested. Instead, the tech behemoth Trump wants to go after is Amazon, according to five sources who’ve discussed it with him. “He’s obsessed with Amazon,” a source said. “Obsessed.” Trump has talked about changing Amazon’s tax treatment because he’s worried about mom-and-pop retailers being put out of business.

A source who’s spoken to POTUS: “He’s wondered aloud if there may be any way to go after Amazon with antitrust or competition law.”Trump’s deep-seated antipathy toward Amazon surfaces when discussing tax policy and antitrust cases. The president would love to clip CEO Jeff Bezos’ wings. But he doesn’t have a plan to make that happen.
Trump’s wealthy friends tell him Amazon is destroying their businesses. His real estate buddies tell him — and he agrees — that Amazon is killing shopping malls and brick-and-mortar retailers.

http://www.axios.com

Amazon is a real challenger to Facebook and Google in digital advertising

Amazon An Ad Force To Be Reckoned With

Big-name advertisers are starting to take notice that Amazon is sharpening its assault on the ad business.

The Seattle-based e-commerce giant is increasingly becoming top of mind for advertisers, with product and search ads on Amazon.com, and its data on shoppers being used to run display ads all over the web. Its ad business is already worth over $2 billion.

Kristin Lemkau, chief marketing officer at JPMorgan Chase, said, “I think that they are a force to be reckoned with, they are excellent with everything they do. You have to do business with Amazon.”

http://www.eblnews.com…  Fri.,  06  October 2017

Social Rights for 'gig economy' workers

EU seeks more protection for Uber-style jobs

The European Commission wants more social protection and rights for casual workers, such as those in the “gig economy”, and others with non-standard contracts to try to tackle growing social inequality.

The Commission’s consultation document on these plans, seen by Reuters, is part of a broader reworking of the EU’s economic priorities, after pressure from populist forces that accuse Brussels of having pursued ultra-liberal policies to the detriment of wo

http://www.reuters.comMon.,  25  September 2017

Sales record for Amazon

Amazon.com breaks sales record for ‘Prime Day’

 Amazon.com Inc (AMZN.O) said on Tuesday its Prime Day sale was on track to be the biggest shopping event in its history by sales. The world’s largest online retailer said customers ordered more than three times as many Echo-family speakers than during Prime Day 2016, which at the time broke records for Amazon devices. Third-party sellers sold over 50 percent more items on the site by noon local time (1900 GMT) than in the same timeframe last year, Amazon said in a statement.

The company has not disclosed sales figures, overall or for the Echo. Analysts estimated last year’s event brought in well over $500 million. The news underscores Amazon’s break-neck pace of growth as more shoppers order online instead of going to brick-and-mortar stores. It also highlights the winning formula of Amazon’s shopping club Prime, the cornerstone of its business. Customers had to join Amazon Prime to get discounts during the 30-hour event. U.S. members of the club pay $99 per year for benefits like two-day shipping, and they tend to buy more goods, more often from Amazon. A timer showing when the deals would expire added further shopping encouragement.

http://www.reuters.com…   Wed.,  12  July 2017

Walmart's online sales are exploding

Walmart Reports 63% Rise in Online Sales

Walmart’s (WMT, -0.23%) massive e-commerce investments are starting to pay off.

The discount chain reported on Thursday that U.S. online sales rose a staggering 63% in the first fiscal quarter of the year, following last year’s overhaul of its online marketplace and a series of acquisitions of e-commerce companies since then, most notably its $3 billion purchase of Jet.com. And more importantly, Walmart said comparable sales rose 1.4% at its U.S. stores, the 11th consecutive quarterly rise, and brought in more shoppers than a year earlier, in stark contrast to the traffic problems at rivals ranging from Target (TGT, +0.37%) to Macy’s (M, +0.34%). Walmart has credited its efforts to integrate its store and digital businesses so that they feed off each other.

http://www.fortune.com…  Mon.,  29  May 2017

Quant Hedge Funds

A new sort of hedge fund relies on crowd-sourcing

“QUANT” hedge funds have long been seen as the nerdy vanguard of finance. Firms such as Renaissance Technologies, Two Sigma and Man AHL, each of which manages tens of billions of dollars, hire talented mathematicians and physicists to sit in their airy offices and develop trading algorithms. But what if such talent could be harnessed without the hassle of an expensive and time-consuming recruitment process? That is the proposition Quantopian, a hedge fund and online crowd-sourcing platform founded in 2011, is testing. Anyone can learn to build trading algorithms on its platform. The most successful are then picked to manage money. Last month the firm announced it had made its first allocations of funds to 15 algorithms it had selected.

http://www.economist.com …  Thu.,  18  May 2017

Uber's turmoil

Uber’s No. 2 executive quits after 6 months

Uber president Jeff Jones is quitting after six months on the job because of concerns over the firm’s management culture. “The beliefs and approach to leadership that have guided my career are inconsistent with what I saw and experienced at Uber,” Jones said in a statement.
Jones was second in command to CEO Travis Kalanick, running Uber’s ride-hailing operations, marketing and customer support. A former Target executive, he was named president at the end of August.

http://money.cnn.com…  Tue.,  21 March 2017

Donald Trump said to Congress that US job market sound worse than it is

Ninety-four million Americans out of the labor force?

During President Donald Trump’s speech to Congress on Tuesday night, the president looked at the current economic and political situation he took over when he came into office. In doing so, however, Trump repeated a figure that makes the job market sound much worse than it is. “Tonight, as I outline the next steps we must take as a country, we must honestly acknowledge the circumstances we inherited, ” said Trump.”Ninety-four million Americans are out of the labor force.”
That seems like a lot considering that the total US population is just over 320 million people. But consider what the Bureau of Labor Statistics is actually measuring when it counts those 94 million.

http://www.businessinsider.com…  Wed.,  01 March 2017

Europe is leading the way in AI and machine learning

Deep Tech in  Europe: even Silicon Valley wants in

The State of European Tech report points to the success of tech-based businesses or acquisitions across the continent, but at the core of this success is deep tech. When it comes to advances in AI, machine learning, VR and AR, drones, robotics and 3D printing, Europe is either leading the way, or is on par with the likes of the US. Since the start of 2015, $2.3 billion has been invested into deep tech in Europe and 2016 is on track for $1 billion – four times the amount in 2011.

http://www.wired.com … Wed.,  30 November 2016