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Uber Drivers are Planning the Biggest Strike in Uber History

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You might be familiar with strikes by taxi drivers in protest of Uber. Now, in various rideshare forums on the Internet, a growing and determined group of Uber drivers are trying to schedule an Uber driver strike October 16-18. One particularly vocal forum on the web, the Facebook group Uber Freedom, has more than 20,500 Likes and has posted a flyer for the strike as its cover photo on the popular social networking website.

Organizers claim this will be the “biggest Uber strike in Uber history.” A Los Angeles radio show discussed the possible strike (at the 29 minute mark), as did a Kansas City radio show. A Houston, Texas news outlet did a feature on the strike. Here is the Facebook event page for the upcoming strike.

Organizers also plan on using Uber tactics against them. TechCrunch reported that Uber paid contractors to create fake accounts on Lyft in order to order rides only to cancel them. As you can see in the flyer below, some Uber drivers plan to do similar. This is the official flyer:

Uber

A flyer for the strike

And another flyer:

Uberstrike

The hashtag “#uberstrike” has gained some steam on social media, with some passenger siding with the drivers:

The strike is, in some ways, placing pressure on peer-to-peer companies and even social media companies, as the following Instagram post shows:

One driver for both Lyft and Uber summed up his frustration, which mirros the frustration of others:

Just found out that they are lowering fares in LA next week by 15%. And they have the nerve to say that they are doing it to increase rides and earnings for us. If I had another job, I would stop driving today, but this is all I have right now. For me, Uber and Lyft are now one big scam. Lyft is no different. Rates in LA are already at poverty levels.

While Uber drivers protest poverty wages, Uber is opening up new offices. The most recent portends to be opened in Oakland.

Featured image from GongTo Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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5 stars on average, based on 1 rated postsJustin O'Connell is the founder of financial technology focused CryptographicAsset.com. Justin organized the launch of the largest Bitcoin ATM hardware and software provider in the world at the historical Hotel del Coronado in southern California. His works appear in the U.S.'s third largest weekly, the San Diego Reader, VICE and elsewhere.




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17 Comments

17 Comments

  1. Kev

    October 1, 2015 at 5:00 pm

    While the service is suitable for riders, the driver suffers from earning a living. Pressure from investors is what is causing this mayhem. Increase the revenue by dropping and …dropping …and …dropping the cost of the fare, hire as many drivers as you can, kill the competition, dominate the market and you tell me if the company does not run a shady business.

  2. LOCO SF

    October 1, 2015 at 7:58 pm

    Uber driver have been upset for a long time. This is from 2014 https://youtu.be/LDeLO1Yr-pk

  3. LOCO SF

    October 1, 2015 at 8:00 pm

    San Francisco Uber drivers do have better options http://www.drivesftaxicab.info/home.html

  4. englishvinal

    October 1, 2015 at 11:01 pm

    Oh yeah… more “United States catch-um and skin-um” “free enterprise bull crap.
    Uber was sold to these drivers and everybody else as “free enterprise”…. but guess what mucho-sameO-sameO……..

    Totally CONTROLLED just like everything else.

    You try honest free enterprise project in this god forsaken country, and even if you are 8 years old and its a lemonaid stand … you WILL be prosecuted.

    The creators of “Uber” are just one more grab and gobble blood sucking scam.

  5. concerndcitizen

    October 2, 2015 at 2:04 am

    They should have drivers bid for the fare, as well as include tips. btw, the “sharing economy” is just another fake term for economic depression. If people could afford their homes, cars, etc. they wouldn’t need to rent them out to make ends meet.

    • The_Mad_Prophet

      October 3, 2015 at 1:53 am

      While I agree that Uber should have an option for riders to leave tips, having each driver bid for their own fares is not going to help anyone. It’ll just be another ‘race to the bottom’, which Uber is already doing on their own when they compete with Lyft, etc.

      Also, you’re making an incorrect assumption that the only reason people are willing to rent out their homes and cars is because they can’t make ends meet otherwise — I, like many people, only do it for extra spending money, not because I can’t pay my bills. If there’s one thing you can never have enough of, it’s money, and driving people around is incredibly easy.

      • Charlie Smith

        October 7, 2015 at 5:25 am

        But are you making any money? You may be getting cash, but after expenses and mileage, are you making any money?

        • The_Mad_Prophet

          October 9, 2015 at 12:50 am

          Of course, although Uber is making it harder to do so. You’re right that your take-home pay doesn’t take into account your expenses (gas, maintenance, depreciation, etc), but your mileage is tax deductible for all of those things. With some simple math it isn’t hard to figure out your true profits.

          • Charlie Smith

            October 12, 2015 at 4:22 pm

            But what your IRS allowance of $.575 per mile does not take into considerations is your cell phone, your life insurance, your health insurance, any commercial insurance (you should have), etc. These costs that are over and above the operating costs are what puts you in the red.

          • The_Mad_Prophet

            October 14, 2015 at 1:40 am

            You have a point, although in my case I have a full time job (elsewhere) and already spend money on cell phone, life insurance, etc. None of those costs increase just because I’m driving for Uber, so it doesn’t make sense (to me) to factor them in — it’s the same with or without Uber.

            Now, if Uber were my full time job, those expenses might very well be the tipping point to put me in the red (although I’m sure with some ‘creative accounting’ you can probably write off a good chunk of it). But hopefully I’m never in that position to have to find out. 🙂

          • Charlie Smith

            October 14, 2015 at 2:36 am

            again, true. As I would as well. I would still have paid for the satellite radio in my car, I would still be using my cell (though my data plan increased). and all of the overhead costs I would have taken out of my right pocket, but now I get the opportunity to take them out of my left pocket which Uncle Sam helps with.
            Thinking of it from a tax basis, you have to move those items from personal to business expenses. Just because you would be paying for it anyway, doesn’t mean you can’t reduce your personal expenses and move them to your business expenses.

          • Sherrell Young

            October 16, 2015 at 4:04 pm

            I’m a new driver been driving for a month! And when I started driving I knew what I was getting into so I’m not asking uber for nothing more I’m happy the way it is! I enjoy driving for uber and lyft! So I will not participate in the strike! But I don’t have anything against those who want to strike! And hope things work out! But I will be driver this weekend! And I make pretty good money! And I’m not in the red! I’m in the green so I will continue to move forward! It’s just extra money for me! Not trying to make this my career!

          • Charlie Smith

            October 16, 2015 at 8:32 pm

            I understand your opinion. However by not participating you are hurting your future and the future of other drivers. UBER will continue to cut rates and make other changes that will hurt you and me in the long run.

          • Sherrell Young

            October 17, 2015 at 7:03 pm

            Chris my future is looking good because my goals are being reached way before I started driving for uber and lyft! The money i make is shopping money not to pay my bills! So I’m sorry if it’s affecting your future! But I don’t believe in striking is that fair to say! I really hope you and the other drivers get what yall need! But I will not participate in the strike and I do believe that’s my right!

  6. KeJorn

    October 2, 2015 at 5:08 am

    Abe Husein does NOT represent all Uber Drivers of #UberStrike. He did not get this strike moving by himself. MANY other people played a BIG part in getting it off the ground and moving, yet he is taking all the credit. We want him distanced from this strike, because he is pitting drivers versus drivers. He started by suggesting that drivers that participated in the strikes should throw rocks and feces at drivers who did not participate. He is creating division. THAT IS NOT WHAT WE ARE ABOUT. Stop interviewing him as the leader of this strike. The strike belongs to ALL CURRENT DRIVERS. Abe is not a current driver. He has another agenda. We are not part of that agenda. This strike belongs to the drivers, NOT ABE HUSEIN.

  7. thirdalbum

    October 4, 2015 at 7:28 am

    Uber has, to an extent, been a poster-boy for anarcho-capitalists. “It’s a better, fairer taxi service because there’s no government involvement!” they cried…

    Now it appears to be in desperate need of regulation to prevent drivers from being screwed.

  8. Terry DeWitt

    October 13, 2015 at 3:33 am

    I think uber has a good business model. Unfortunately like amway and others, greed is going to get the best of them eventually. Here in Cedar Rapids, when uberx opened a few months back, the rates where $2/mile (33% cheaper then the traditional taxi services) here. Yet they still felt the need to cut the rates to 1.20/mile.

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Stock Pick: Philip Morris

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Philip Morris International Incorporated is an American multinational firm that manufactures cigarettes and tobacco. Its products including its best-seller Marlboro cigarettes that are sold in over 180 countries around the world. The company has a diverse workforce of over 81,000 employees and touts an estimated 150 million consumers worldwide. In 2017, Philip Morris generated 7.8 billion dollars in revenues.

Technical Analysis of Philip Morris (PM)

PM looked toppish in June 2017 when it failed to take out resistance of $120 after two attempts. On top of that, the stock was trading in extreme overbought territory on the weekly chart. These were indications that bulls were exhausted.

Things went from bad to worse when the stock breached support of $110. This activated the head and shoulders reversal pattern on the daily chart and effectively reversed the trend. The downtrend saw PM drop to as low as $76.21 in June 2018. However, it appears that the worst may be over for the stock.

Technical analysis show that PM is respecting key support of $78. Bulls have defended this level since February 2012. It looks like they will continue to take control of this price level, especially after PM successfully backtested the support in August 2018.

In addition, we can see the weekly RSI breakout from its own falling wedge pattern. This is an indication that bulls are significantly gaining momentum.

Fundamental Analysis of Philip Morris (PM)

In addition, we have fundamental analysis to back up our bullish view. PM’s trailing twelve month price to earnings ratio stands at 19.78. The stock is still relatively undervalued considering that it has a five-year maximum of 28.51. This suggests that investors are generally willing to pay more for PM stocks.

On top of that, Zacks reports that Philip Morris beat expert projections for the second quarter of 2018. Analysts estimated that PM would generate revenues of $7.528 million and an earnings per share (EPS) of $1.23. However, PM brought in revenues of $7.726 million and an EPS of $1.41. With these developments, even the Wall Street Journal is overweight on the stock as they published a target price of $93.27.

The strategy is to buy as close to $78 support as possible. If bulls can successfully defend the support, then PM might be able to rally to our target of $95.

The timeline for the target is less than six months.

Weekly PM Chart

Monthly PM Chart

As of this writing, the Philip Morris International Incorporated stock (PM) is trading at 81.93.

Summary of Strategy

Buy: As close to 78 support as possible.

Target: 95

Stop: Close below 76.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.6 stars on average, based on 250 rated postsKiril is a financial professional with 4+ years of experience in financial writing, analysis and product ownership. He has passed all three CFA exams on first attempt and has a bachelor's degree with a specialty in finance. Kiril’s current focus is on cryptocurrencies and ETFs, as he does his own crypto research and is the subject matter expert at ETFdb.com. He also has his personal website, InvestorAcademy.org where he teaches people about the basics of investing. His ultimate goal is to help people with limited knowledge of finance and investments to create investment portfolios easily, and in line with their unique circumstances.




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Alleged FBI Hacker Lauri Love Ordered to US Extradition by UK Home Secretary

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The long-running court saga of Lauri Love, a British hacker and activist accused of compromising and stealing data from the likes of the FBI, NASA and the US Federal Reserve has been ordered by the UK’s home secretary for his extradition to the United States.

31-year-old Love who has Asperger’s syndrome launched a legal challenge to avoid his extradition to the U.S., following a court ruling by a UK judge in September 2016. Love, who suffers from depression and eczema argued against the extradition ruling, claiming it could lead him to a mental breakdown or suicide. Despite his plea, the ruling district judge, Nina Tempia, determined that Love would be cared for by medical facilities in the United States, while accepting that Love suffered “both physical and mental issues.”

On the other side of the pond, Love potentially faces legal proceedings in three different US jurisdictions, reports the Guardian. Meanwhile, the UK home secretary had been given a deadline of November 16, in order to decide if Love was to be extradited or not. A day before the deadline, Rudd signed the order for Love’s extradition to the US. His lawyers believe he faces up to 99 years in prison if convicted of charges related to hacking.

The UK Home Office stated that Rudd had “carefully considered all relevant matters” before ruling:

[Love] has been charged with various computer hacking offences which included targeting US military and federal government agencies.

The case drew parallels to that of Gary McKinnon, a British hacker whose extradition to the US was blocked by Theresa May in 2012, as the home secretary at the time.

Love’s legal battle with the ruling garnered support from The Courage Foundation, whose acting director Sarah Harrison stated:

The US has ruthlessly persecuted hackers and digital activists for years, and nobody expects that to improve under President Trump. Theresa May set a good example by protecting Gary McKinnon back in 2012. For a home secretary in her government now to willingly send a brilliant and vulnerable UK citizen to Donald Trump’s America beggars belief.

Love was bailed earlier this year in June when US prosecutors were already doing plenty to extradite him stateside.

Lori’s alleged hacking endeavors were a part of #Oplastresort, an operation by Anonymous, the global hacktivist collective. This particular operation was in response to the treatment endured by Aaron Swartz a prominent programmer and hacktivist. Swartz faced 35 years In prison, asset forfeiture and a million dollars in fines with two counts of wire fraud. Swartz committed suicide for his alleged computer crimes.

Love’s legal defense is certain to bring up the unfortunate series of events that led to Swartz committing suicide under the threat of persecution. Love has 14 days to appeal against Rudd’s order and will almost certainly do so.

Images from YouTube/AP.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4 stars on average, based on 1 rated postsSamburaj is the contributing editor at Hacked and keeps tabs on science, technology and cyber security.




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WikiLeaks: Podesta Received E-mails On Extraterrestrial Disclosure

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While most fallout from the Podesta emails has been political, there are extraterrestrial implications for some of the e-mails released by whistleblower source WikiLeaks. 

An email on behalf of Apollo astronaut Dr. Edgar Mitchell to Clinton campaign chairman John Podesta turned up in the recent data dumps. The email was sent by Rebecca Wright of the Institute of Exoconsciousness. 

Mitchell requested in an email dated July 29, 2014 to meet with President Barack Obama to discuss extraterrestrial disclosure, but was partially rebuffed.

“Fifty years ago Battelle, Brookings and RAND studies on UFOs convinced the government to remove knowledge of the extraterrestrial presence from the citizens of our country. These organizations advised with their best information. However, today much, if not most, of the extraterrestrial reality they examined is known by our citizens,” the e-mail states. “These organizations’ resultant strategies and policies of 50 years ago no longer hold credibility or benefit.” Mitchell says a well-informed public is important to further disclosure. 

Podesta’s secretary wrote Mitchell saying Mr. Podesta would rather meet alone before arranging a meeting with Obama. A Skype meeting was scheduled for Aug 11, but whether or not the meeting happened is unclear. Mitchell died in February 2016.

According to the leaks, former Blink 182 frontman Tom Delonge emailed John Podesta twice about extraterrestrial beings.

“Things are moving with the project. The novels, films and nonfiction works are blooming and finishing,” DeLonge said in an October 2015 email to Podesta. “I would like to bring two very ‘important’ people out to meet you in DC. I think you will find them very interesting, as they were principal leadership relating to our sensitive topic.” DeLonge emailed again later.

“When Roswell crashed, they shipped it to the laboratory at Wright Patterson Air Force Base. General McFasland was in charge of that exact laboratory up to a couple years ago,” DeLonge wrote. “He not only knows what I’m trying to achieve, he helped assemble my advisory team. He’s a very important man.”

Hacked reported in 2015 that DeLonge was working on various ET-related projects, and the former pop-punk superstar, whose 1999 album Enema of the State sold 15 million copies worldwide, has since released books and plans to release a documentary on extra terrestrials.

Featured image from Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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5 stars on average, based on 1 rated postsJustin O'Connell is the founder of financial technology focused CryptographicAsset.com. Justin organized the launch of the largest Bitcoin ATM hardware and software provider in the world at the historical Hotel del Coronado in southern California. His works appear in the U.S.'s third largest weekly, the San Diego Reader, VICE and elsewhere.




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