Gig Workers Rising Action Wed. Nov. 6: Deactivate Uber, Lyft Billionaires

On Wednesday, November 6th hundreds of Uber & Lyft drivers will be driving to key locations and protesting as part of a joint action between Gig Workers Rising & the Mobile Workers Alliance.

Driver will be targeting 3 locations starting at 10:30AM. The locations are as follows:

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Q3 2019 hedge fund letters, conferences and more

  • Garrett Camp's $71 million mansion in Los Angeles, CA (address: 9439 Santa Monica Blvd, Beverly Hills)
  • Bill Gurley's house in Atherton, CA (address: 45 Prado Secoya St)
  • Google Ventures office in San Francisco, CA (address: 188 Embarcadero (Howard) San Francisco, CA)

Protests against Uber, Lyft

November 6 is the first day investors will be able to cash out of Uber since it went public in May. Drivers are drawing a contrast between the lavish homes and offices of investors and the impoverished reality of their lives.

Recently, Uber, Lyft, Doordash, Postmates and Instacart announced that they would fund a $110 million dollar ballot initiative to ensure that the companies would receive an exemption from AB 5 and be able to list their workers as independent contractors and not employees. This has enraged drivers, who worked hard to organize and ensure AB 5 passed so that they could be recognized as employees and receive a livable wage and benefits. With Uber's Q3 2019 earnings announcement this week that the company lost over $1bn last quarter, drivers want to draw attention to their real, material struggles while the company continues to pay executives millions and over $400m to office workers in stocks. Every billionaire is a policy failure and drivers have had enough.

At each protest, drivers plan on speaking about their struggles, offering "Open House" tours of their cars, highlighting how many of them can only afford to live in their cars and presenting "Poverty-Creator" awards. These protests have gained support from presidential candidates including, Bernie Sanders, Elizabeth Warren, Pete Buttigieg & Joe Biden. These protests demonstrate a clear shift in how workers are viewing their own struggles and the broader national shift towards demanding policies that curb corporate greed and support workers.



About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver