Uber

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In a first for Uber since becoming a public company, an annual profit.

Uber posted its first full-year profit since going public in 2019 and its stock hit an all-time high Wednesday as strong bookings in the final quarter of the year pushed profit and revenue beyond Wall Street expectations.

https://apnews.com/article/uber-ride-sharing-drizly-pandemic-89bffab6294306ed384558803afa4b16?

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Lyft and Uber say they will leave Minneapolis after city council forces them to pay drivers more

MINNEAPOLIS (AP) — Lyft and Uber said they will cease operations in Minneapolis after the city’s council voted Thursday to override a mayoral veto and require that ride-hailing services increase driver wages to the equivalent of the local minimum wage of $15.57 an hour.

https://apnews.com/article/minneapolis-uber-lyft-ridehailing-minimum-wage-d60db6a2e2580dc1d93c438a8cffa5ee?

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Uber Drone Delivery

Uber Technologies announced plans yesterday to begin aerial food deliveries in partnership with Tel Aviv-based drone operator Flytrex. The service will launch in unspecified test markets later this year; Uber shares closed up 1.9%.   Uber first attempted drone food delivery in 2019 with an in-house aerial arm, but regulatory hurdles stalled the effort. It's now investing an undisclosed sum in Flytrex, one of four companies approved by the Federal Aviation Administration to fly drones beyond operators' lines of sight. (Watch in action.) Flytrex has delivered over 200,000 meals to suburban homes in the last three years and partnered with Uber rival DoorDash in June to serve Dallas-Fort Worth. DoorDash also uses Alphabet-owned Wing for drone deliveries in Texas, Virginia, North Carolina, and Australia.   Drone deliveries could become increasingly common if the FAA passes a rule proposed last month easing operating restrictions. Supporters say the rule would expand access to goods and cut emissions, while critics warn of safety risks.

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🚁 Uber wants 1 million drone deliveries a day

Image: Uber Uber is investing in drone delivery company Zipline and aiming for 1 million daily Uber Eats drone deliveries by the end of 2029, Axios' Joann Muller reports. Zipline drone delivery via Uber Eats will begin in Houston and Dallas before the end of the year, then expand into dozens of other U.S. cities. 🚛 The big picture: The deal is part of Uber's effort to build a flexible delivery network of couriers, sidewalk robots and drones. Zipline, a San Francisco-based drone company, got its start delivering medical supplies by drone in Rwanda. It now serves medical facilities, retailers and small businesses. Go deeper ... Read the announcement.

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🚕 Uber's robotaxi edge: Human drivers

Illustration: Brendan Lynch/Axios

Uber is betting billions on a driverless future, but the secret to making the economics work could be — surprise! — its vast army of human drivers, Axios' Joann Muller writes. Why it matters: Uber believes a hybrid network of robots and people can keep its expensive autonomous vehicles busier, and therefore more profitable, than fleets made up entirely of robotaxis. 💡 How it works: In a hybrid network, AVs would handle the steady "base load" of everyday demand. Human drivers would provide extra capacity during rush hour, bad weather, concerts and other demand spikes. Keep reading ...