Uber settles Australia taxi driver lawsuit, pays $178M
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 18 March 2024
⏱️ 7 minutes
🧾️ Download transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Monday, March 18th. I'm Julie Morgan. |
| 0:12.0 | Uber agrees to pay out millions of dollars in a settlement. |
| 0:16.0 | SpaceX is reportedly building a network of spy satellites, |
| 0:21.0 | and LinkedIn is banking on your adoration of puzzle games. |
| 0:25.0 | Uber has agreed to pay 178.4 million dollars to settle a lawsuit by |
| 0:32.0 | Australian drivers and taxi operators. |
| 0:35.0 | They claimed to have lost money after Uber entered the market in 2012. |
| 0:40.0 | The class action lawsuit was launched in 2019 by Maurice Blackburn lawyers, representing over 8,000 |
| 0:46.8 | taxi and rental car owners and drivers. |
| 0:49.8 | The firm's principal lawyers said this is a day that thousands of everyday Australians joined together to stare down a global giant. |
| 0:58.0 | Uber said ride sharing laws were non-existent when the company was founded more than a decade ago. |
| 1:03.9 | In a statement, Uber said since 2018, |
| 1:06.6 | the company has made significant contributions |
| 1:09.7 | into various state-level taxi compensation schemes and with the proposed |
| 1:14.1 | settlement in Australia they can put these legacy issues firmly in the past. |
| 1:18.8 | The settlement is the fifth largest class action settlement in Australia. |
| 1:24.7 | SpaceX is reportedly building a network of hundreds of spy satellites |
| 1:28.8 | under a classified contract with a US government agency that deals with space-based intelligence. |
| 1:35.5 | The contract is for a powerful new spy system that has hundreds of satellites bearing |
| 1:40.3 | earth imaging capabilities that can operate as a swarm in low orbits. |
| 1:45.2 | According to Reuters, citing five sources familiar with the program, the network is being |
... |
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