Crashing economy - California Gig workers, Cashflow is next..
NEW RECORD HIGH:
Gas prices in California hit a new average record of $6.02 a gallon, and they’re set to go even higher on July 1st when California’s gas tax increases again. Summer is about to get really hot .. these prices make you want to get a Tesla.
Spring is here though, looking at it many companies are fattening up their cash reserves to make it through the bear market. Is that the way to survive this insane COLD Bear market, not only is it effecting The stock Market but its seeping out into the Economy, Gig App companies are also letting go of some employees and slowing down on Marketing.
Case and Point !
UBER
Last week, Uber CEO Dara Khosrowshahi sent an email to employees outlining the company’s plan to manage market uncertainty.
Its simply really.. The plan that is.. - Prioritize free cash flow. Cash is King in a Bear Market.
- Free cash flow refers to the cash coming in and out of a company.
Would this also stop the incentives for Uber drivers? Or will it boost earnings on the Gig workers so more cash flow can enter the company.
Some companies such as Meta, are going a no hire approach. Facebook Parent Meta Hits the Brakes on Hiring as Growth Stalls
This Market is having some new effects in the whole World economics.
LYFT
On the other hand we have lyft they are bullish.. Lyft (LYFT), Uber’s rideshare competitor, has a different approach. It plans to increase spending to attract more drivers due to the gas price surge. This is what most Gig apps should do..
Doordash
DoorDash is king, when it comes to this ideas,, they started the gas incentive and will now extended it even further DoorDash extends gas rewards program for delivery people on its platform through August, if this is done I can see most of the other apps follow suit.
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Tesla, or any electric car, or even a Prius. Anything to ease the gas pain.
Great approach from Lyft attracting more drivers despite the rise in gas and from Doordash with the gas incentive.
Gas prices bhas increase again. This must be some inflation !
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It's almost like forecasting a recession creates a recession. !LOL
Lyft is going to use the opportunity to take some more market share. I hope it works out.
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We might not really get a recession.. Remember Black Monday
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I think we're probably already in one. We just haven't gotten the numbers to verify it yet. Takes a few years to get the finalized numbers.
Uber seems to be wanting to bunker down and use trad eco like Taxis which it fought hard to now survive and buses(now?)
Both Uber and Lyft are shareholders based "social-capitalism" as they don't really make direct profit.... so it will be interesting on how a higher stock/loan market affects them
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BEER.This gas price thing sure does through a wrench into just about everything. Some big thinkers are showing the way from what your post looks at. Everything seems temporary to me, like a Ponzi thing going to implode anyway.
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Implode it sure will.
Here in California its about to get a bit worse.
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I wonder what could be causing the hike in price.
Is it shortage or just a norm to increase price at certain times of the year .
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This are awesome people been mentioned and I appreciate your kind words
All these nerds will soon find them selves with even more dough.
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Keep hammering it out, man. Quality content here.
Hustle Standard.
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I am still wondering if people will start using the delivery services when finances start getting tighter. At some point, the price for doing all of this is not worth it if they can't afford it.
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