Lyft Market Share Growing Faster Than Uber

Controversy After a series of unfortunate incidents for Uber, its main rival Lyft is surging in the market. Bloomberg has reported that company’s gross booking grew 25% to more than $1 billion in the second quarter from more than $800 million in the previous period. That is a faster rate than Uber, which told investors that it expected its growth projections to be in the mid-teens for the same period. Uber has been dogged by controversy for a number of months. Earlier this year, Uber CEO, Travis Kalanick, was caught on film beating one his own drivers. The public criticised the attitude of Kalanick towards his own drivers.  It was also discovered that Uber, for over two years, was shortchanging their own drivers, with losses to drivers amounting to tens of millions of dollars. Emil Michael, SVP of Business at Uber, and possibly the second most important figure in the…

Uber Promises to Fulfill Everybody’s Dream by 2020

Uber is taking ridesharing to the sky and it’s not a ‘Back to the Future’ parody.The company announced Tuesday that it plans to roll out a network of flying cars in Dallas-Fort Worth and, of course, Dubai by 2020. The flying electric taxis are being developed with aviation companies including Embraer and Bell Helicopter. While the technology is largely unproven, Uber believes the service will eventually cost about the same as its car rides. The kind of aircraft Uber envisions shuttling customers through the air—electric, with vertical takeoff and landing capability, and capable of flying 100 miles in just 40 minutes—don’t exist yet. Nor does the infrastructure to support them. The FAA, an agency not known for speed, must ensure these aircraft meet all federal safety regulations and figure out where and how they fit into a complex air traffic control system. Uber will face these many challenges as they…