Uber safety: “Lax” background checks slammed as convicted criminals allowed to become drivers August 20, 2015 Background checks by taxi-hailing app Uber have come under fire, after California prosecutors slammed it for security routines so lax that convicted sex offenders and even murderers were allegedly allowed to become drivers. California prosecutors are widening a civil lawsuit they originally brought against Uber in December last year, alleging that the company misleads customers [...]
Uber adds ranks in Indian cities July 1, 2015 Controversial transport technology firm Uber yesterday announced it will open operations in seven more Indian cities, to keep up with local rival Ola. It brings the total number of its operating territories there to 18. From today it will make India the company’s second-largest territory after the US. Uber has not had an easy ride [...]
VCs held off on startup investments because of Brexit July 20, 2016 The figures are in: and they show that in the build up to the EU referendum, venture capital investors held off on putting their cash into startups. VC investment "plummeted" 40 per cent according to the latest report from CB Insights and KPMG. Some $2.8bn went into VC-backed firms in Europe, of which the UK grabs the biggest share, dipping below [...]
Uber’s race to the bottom: The wheels will come off this controversial business July 31, 2015 Uber causes a storm wherever it goes. First, there’s the storm of applause as passengers initially embrace what looks like an exciting, disruptive new technology. Then, there’s the storm of protest as people start to understand what the business model is really all about. Treating taxis as just another tech challenge raises all sorts [...]
Police hunt for man after taxi drivers’ Uber protest outside City Hall turns violent with security guard assault September 18, 2015 Police have issued footage captured of a man they are hoping to identify after Wednesday's taxi drivers' protest at City Hall descended into violence. The man is wanted in connection with an assault on a security guard, who was knocked out in the middle of the morning after 20 protesters forced their way into City [...]
London doesn’t deserve PR gimmicks, but a thriving taxi and private hire market that caters for all February 9, 2016 London doesn’t deserve PR gimmicks but a thriving taxi and private hire market that caters for all. Uber’s decision to offer zero per cent commission to black cab drivers has been self-described as an "olive branch". This is slightly disingenuous. In the same press release Uber has questioned the need for the Knowledge, graduates of which are [...]
YPlan’s co-founder Rytis Vitkauskas on pitching to Ashton Kutcher and how to secure other big-name investors July 12, 2016 Rytis Vitkauskas doesn’t strike you as the sort of person to court celebrities. The Lithuanian born co-founder of YPlan, the events discovery app, comes across as smart, focused and unostentatious. Nevertheless, YPlan has been remarkably successful at getting celebrity backers like Stephen Fry, Pharell Williams and Ashton Kutcher, and Vitkauskas spoke about this at a recent [...]
Lessons from New York: Bigger is no longer better in the new world of ambitious scaleups May 17, 2016 Every business is a hypothesis based on a bet. And if you want to bet big, grow small. That’s the lesson I learned on a recent visit to New York to meet the scaleup businesses aiming to become tomorrow’s titans. Of course, think New York and you think big. The Big Apple, big business and [...]
Goldman Sachs upgrades commodities to neutral as it cuts outlook for equities May 18, 2016 Uber bear Goldman Sachs is feeling slightly better about commodities, but the brighter outlook didn't extend to equities. The investment bank upgraded commodities to neutral on a three-month basis, saying supply disruptions should support oil prices. At the same time, growth and valuation concerns led it to downgrade equities to neutral over a 12-month horizon. Read more: Commodity [...]
Uber offices raided in Hong Kong after driver arrests in illegal taxi crackdown August 11, 2015 Uber's offices in Hong Kong have been raided by police following the arrest of five drivers in the country. An operation cracking down on illegal taxis lead to the arrests, AP reports citing a police statement. The drivers are being held on suspicion of illegally carrying passengers and driving without insurance, it said. It's just [...]