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Lyft CEO John Zimmer On Future Of Gig Economy In Wake Of Prop 22 Victory – CBS San Francisco

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NEW YORK (AP) — San Francisco Bay Area ride-share giant Lyft scored a major victory when California voters passed Proposition 22, allowing app-based companies to treat drivers as contractors instead of employees and saving the company from what many anticipated would be crippling expenses.

The outcome was viewed as a defeat by labor leaders who hoped to cement a California law which would have given drivers benefits such as overtime and sick days. Ride-hailing and delivery companies won an exception, arguing drivers enjoy flexibility as contractors and threatening to leave California if they had to pay a full slate of employee benefits. Instead they’ll offer limited benefits such health care subsidies to drivers who clock 25 hours per week.

With California’s status as a trend-setting state, hopes for passing laws to treat gig workers as employees elsewhere dimmed.

We talked with John Zimmer, president and co-founder of Lyft Inc., about the decision’s impact on drivers and future legislative goals of the company.

Q: Lyft formed an alliance with a major competitor to get this done. Do you foresee teaming up with Uber again?

A: There are some opportunities to do so and there are some opportunities where it won’t work. This was not the company or industry pushing back on the law and saying no. This was saying, let’s find the right approach that had both independence and includes benefits.

Q: How do you justify the level of spending on this proposition when ride-hailing is struggling to reach profitability?

A: This was a decision from a state with strong support across the aisle. It was important to do this because it’s right for drivers, riders and the economy, but also to create a model that is the turning point for the future of work in America.

In the tough times that we’re in, independent, flexible work is critical and a growing part of the U.S. economy. Many people find the gig economy as a safety net, especially during COVID-19. It was really important to show what we stand for, and this was about us standing for independence and benefits, not standing against something.

Q: Some labor leaders call this a setback for working conditions for app-based workers.

A: I’ve had many conversations over the last two years with great leaders in labor. I respect them, I want to work with them, and we’re trying to stand for something, to stand for benefits and independence, and I believe there’s across the country more work we can do, and I hope we can find ways to work together.

Q: Federal legislation has been introduced to treat drivers as employees. Will you fight that?

A: Having a model that we can point to that was broadly supported across Democrats, Republicans and independents, a 6-to-1 margin by drivers, having that conversation federally so that we can answer this question and grow the economy…we would love to be part of that conversation.

Bringing people from all different viewpoints, working with both parties, working with labor, working with the industry, I really believe that this model is the key step forward and that there’s a lot of good we can do by working together.

Q: Your company announced it will use all-electric vehicles by 2030. Do you anticipate losing drivers?

A: It’s critical. It’s the right thing to do. We need to move toward clean energy, electric vehicles, and we want to be part of the situation.

In times like this, when its difficult, it’s even more important to make those decisions. I don’t believe it’s a trade-off for drivers or the business. I think it’s a positive, because EVs cost less money to operate for drivers. Especially when you utilize it the way you do on a ride-share platform, the economic benefit is there and we’re going to be as helpful as we can for drivers.

A big part of the next few years, to make that a no-brainer for everyone, is to work with policy makers on policy around EVs. When you look at the subsidies that go into EVs, they often go to people that can afford a buy a Tesla, that use it for their own needs, and use it 4% of the time, versus someone who is working using their vehicle, has a much higher utilization, has a much higher need for that subsidy. And by working with policy makers, we can make sure that those who need that economic support to make that EV decision will have it.

Q: What are some changes you’ve observed with consumer behavior since the pandemic hit?

A: We’re definitely seeing shifts. Frontline workers are using the service a lot. They do not necessarily want to be in a more public environment with transit. They want a safe environment where there are masks required.

We have a great bike share platform. For example, in New York we’re seeing more ridership year-over-year. In the last few months we’ve surpassed what we saw a year ago. And I believe that it’s a great service that allows someone to travel by themselves in a way that is both enjoyable and healthy.

We’re doing an expansion of Divvy in Chicago, Bay Wheels in the Bay Area. We just added a full e-bike system to Portland (Oregon) and in the Los Angeles area, so we think it’s a great mode of transportation generally, and specifically for this moment. Lyft has a broad platform of transportation options that is unique from others in the industry that moved on from that type of transportation, so we’re going to keep investing there.

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Portable benefits are the future of the gig economy

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The decisive win for Proposition 22 in California on November 3 shows a likely majority of voters—even in the most progressive states—see the value of flexible work that allows people to generate income on demand. That value has only grown amid an ongoing economic crisis that has hammered employment in nearly every industry in New York and left thousands searching for immediate opportunities to earn income.

Rather than repeat California’s tumultuous past year, New York’s leaders should learn from it and deliver what voters are asking for: a bold plan to ensure that independent workers in all sectors can access universal, portable benefits, gaining financial security without losing flexible work.

It was just over a year ago that California passed Assembly Bill 5 into law, which established strict guidance on classifying workers as independent contractors and challenged the ability of app-based platforms to operate. California’s new ballot measure reverses course, allowing app-based drivers to work as independent contractors while extending a range of benefits—and earning the support of workers, tech companies, and voters.

In New York and across the nation, the problem has grown increasingly clear. Far too many workers in the gig economy live in a state of perpetual financial precarity. Few have access to the benefits that typically flow from full-time employment — including health care, worker’s compensation, paid leave, life insurance, retirement savings, and more.

The result is an unacceptable level of risk for workers and their families, and the potential for the further erosion of the middle class.

But faced with so many obstacles to an inclusive economic recovery, tackling this challenge shouldn’t require a knock-down, drag-out fight. Instead, New York policymakers should bring together workers and industry to establish a universal system of portable benefits for the future workforce.

This system would allow New Yorkers to tap into the flexible, income-generating opportunities that gig platforms are providing — even amid a major economic downturn — while ensuring that independent workers have the financial security to thrive.

Under this system, benefits from health care to retirement accounts would move with independent workers from job to job. Freelancers, gig economy workers, and other independent contractors would have the ability to access a wide range of benefits through a regulated exchange, including offerings from established companies, nonprofit organizations, unions, start-ups, and government. As is the case in Oregon and California, employers and platform companies should make substantial financial contributions to at least some of these benefits.

To ensure that lower-wage workers are equally supported, legislators could levy a small surcharge on services rendered through app-based platforms—similar to New York’s current Black Car Fund—with the revenue used to cover any employee contributions to portable benefits for lower-income workers.

New York policymakers are not alone. Recent initiatives in Oregon, Colorado, Washington, and Philadelphia demonstrate growing support for the portable benefits framework—with Oregon’s approach showing particular promise.

Now New York has the opportunity to fit all of these pieces together into a visionary, integrated system: taking decisive action to rebuild a more inclusive economy while gaining a major competitive advantage over other states where the future of independent work is in doubt.

As California’s experience with AB 5 and now Proposition 22 makes clear, the most effective path forward is to create systems that support the financial security of independent workers — not limit their existence.

Winston C. Fisher is co-chair of New York City’s Regional Economic Development Council. Eli Dvorkin is the editorial and policy director for the New York City-based Center for an Urban Future.

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Comprehensive Report on Gig Economy and Sharing Economy Market 2020 | Size, Growth, Demand, Opportunities & Forecast To 2026

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“Gig Economy and Sharing Economy Market is growing at a High CAGR during the forecast period 2020-2026. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market”.

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Various factors are responsible for the market’s growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Gig Economy and Sharing Economy market. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the Gig Economy and Sharing Economy market’s trajectory between forecast periods.

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Global Gig Economy and Sharing Economy Market Segmentation:

Market Segmentation by Type:

Gig Economy
Sharing Economy

Market Segmentation by Application:

Shared private car
Shared private residence
Independent contractor
Freelancers

Regions Covered in the Global Gig Economy and Sharing Economy Market Report 2020:
• The Middle East and Africa (GCC Countries and Egypt)
• North America (the United States, Mexico, and Canada)
• South America (Brazil etc.)
• Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

The report provides insights on the following pointers:

  1. Market Penetration: Comprehensive information on the product portfolios of the top players in the Gig Economy and Sharing Economy market.
  2. Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market.
  3. Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market.
  4. Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
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Global Gig Economy and Sharing Economy Market Research Report 2020 – 2026

Chapter 1 Gig Economy and Sharing Economy Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Gig Economy and Sharing Economy Market Forecast

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Human cloud platforms could offer gig workers stock as payment under SEC proposal

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November 30, 2020

The US Securities and Exchange Commission is proposing rules that would allow gig economy platform companies such as Uber Technologies Inc. (NYSE: UBER) and DoorDash Inc. the ability to offer workers on their platforms compensation through stock. The announcement came last week.

“Work relationships have evolved along with technology, and workers who participate in the gig economy have become increasingly important to the continued growth of the broader US economy,” SEC Chairman Jay Clayton said. “The rules we are proposing today are intended to allow platform workers to participate at a measured level — up to 15% of their compensation — in the growth of the companies that their efforts support.”

The rules would allow the compensation on a temporary basis over a five-year period and limit it to no more than 15% of annual compensation and no more than $75,000 over three years.

The proposed rules will be subject to a 60-day public comment period.

Markets Insider reported that it is unclear if the Biden administration will finalize the program.

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