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How protesting drivers might threaten Uber, Lyft, and other gig economy IPOs

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27.03.2019

While the traditional measure of labor clout–union membership–has been declining for decades, workers are organizing in new ways that may frustrate the IPO dreams of high-flying Silicon Valley startups. This week, that activism took shape in coordinated protests by Uber and Lyft drivers across California to demand better pay, benefits transparency, and more dialogue with management. In San Francisco, a driver picket even forced Lyft to abruptly relocate its presentation to investors.

“If enough drivers participate, they will have an impact,” says NYU business professor Arun Sundararajan, who is generally bullish on the prospects for Uber, Lyft and other “gig-economy” companies. “Worker protests by Uber and Lyft drivers get far more attention than any other........

© Fast Company