Weekly Roundup: Waymo Announces Miami Expansion

Waymo announced its expansion to Miami, and the rideshare stocks dropped. Massachusetts rideshare drivers move to create their first union. California mandates fingerprint checks for rideshare drivers transporting minors. Gen Z drives Uber Eats orders in the UK, Moove partners with Waymo in Phoenix and Miami. We break it all down for you.

Waymo Announces Miami Expansion – And Rideshare Stocks Drop

SOURCE: Barron’s

Uber and Lyft stocks plummeted after Waymo announced its expansion into Miami, raising fears about competition from driverless technology. Waymo plans to introduce its all-electric Jaguar I-PACEs to Miami in 2025 and offer rideshare to the general public via its Waymo One app by 2026.

  • Investors are concerned that Waymo’s self-driving taxis will capture a share of the market currently dominated by Uber.
  • Although Uber is collaborating with Waymo to include self-driving vehicles in its network by 2025 in cities like Atlanta and Austin, it still faces investor uncertainty regarding its market positioning.
  • As of Thursday, Uber’s stock has declined 24% since early October, also slammed by Tesla’s plans to expand its robotaxi fleet.

Massachusetts Rideshare Drivers Move To Form First Union After Law Passes

SOURCE: Boston.com

A group of rideshare drivers in Massachusetts, aided by prominent labor groups, have proposed starting the App Drivers Union. Drivers will have the opportunity to vote on officially joining a union in January, marking the state as the first in the U.S. to permit independent contractors to join labor unions.

  • Organizers have collected signatures from thousands of drivers expressing their desire to unionize and complaining about working conditions at Uber and Lyft.
  • The announcement follows the passing of Question 3 on the election ballot, which nearly 54% of voters supported.
  • The App Drivers Union is backed by significant labor groups, including the 32BJ Service Employees International Union and the International Association of Machinists and Aerospace Workers.

California Mandates Fingerprint Checks for Rideshare Drivers Transporting Minors

SOURCE: TechCrunch

This week, the California Public Utilities Commission (CPUC) issued a mandate that rideshare and taxi drivers who transport unaccompanied minors in the state must undergo fingerprint-based background checks. The ruling also mandates that companies cover the costs of these checks, which must be implemented within 30 days.

  • This mandate comes as rideshare companies expand their services for unaccompanied minors.
  • The CPUC aims to prevent potential sex offenders from driving unaccompanied minors by conducting thorough background checks.
  • Uber has historically opposed fingerprinting, arguing that their current name-based checks and safety features are sufficient and warning that added costs could result in higher prices for rides.

Gen Z Drives 50% Surge in Uber Eats Grocery Orders in the UK

SOURCE: Daily Mail

In the UK, Uber Eats has reported a 50% surge in grocery orders over the last year, largely attributed to “laziness” from Gen Z. This shift, initially propelled by the 2020 pandemic, reflects broader trends in consumer behavior as people prioritize convenience despite higher costs associated with app-based shopping.

  • The number of users shopping for groceries via delivery apps like Uber Eats and Deliveroo has nearly doubled in two years, with the service gaining popularity for its speed compared to traditional supermarket deliveries.
  • Despite the convenience, app-based grocery shoppers face higher prices. Reports indicate that consumers pay significantly more—up to 74% for some items—due to delivery fees and service charges, yet many are willing to pay for the convenience.

“Show Me The Money Club” Explains UberX Priority

SOURCE: YouTube

On the latest episode of Show Me the Money Club, RSG Contributors Sergio Avedian and Chris Gerace do a deep dive into UberX Priority.

UberX Priority offers riders the chance to enhance their Uber experience by opting for quicker pickups, thanks to an additional fee visible on the trip offer card. But does it actually make you more money? Chris reported that the base fare is typically shaved on UberX Priority requests. Find out more by watching this week’s episode of “Show Me The Money Club!”

Moove to Manage Waymo’s Autonomous Fleets in 2 Key Cities

SOURCE: Reuters

Moove, as part of its entry into the US market, will manage and operate Waymo’s autonomous fleet in 2 key cities to start: Phoenix and Miami. Moove will handle all fleet operations, charging infrastructure, and facilities on behalf of Waymo.

Moove, which has already raised over $500 million, is a leader in the international market across Africa, the Middle East, Europe, Asia, and Latin America. Moove, which is also beginning to build its driver base in LA, already boasts an impressive global partnership with Uber.

QUICK HITS

  • Uber continues to expand its robotaxi services, expanding to Abu Dhabi through a partnership with WeRide. – CNBC
  • Insights from Zacks Equity Research show Lyft stock may be well positioned for a surge. – Yahoo! Finance
  • Uber is expanding its holiday delivery services, including Christmas tree delivery. – The Verge
  • Uber Eats and Toast are partnering to offer commission-free delivery. – PYMNTS

Must Listen Or Watch RSG Content

Here are this week’s featured podcast episode and YouTube videos: