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Comment by seanmcdirmid | Hacker News Reader

You’d be surprised. Californians love their ability to Uber, if this gets rid of that (or severely curtails it), they would have no problem overriding the legislature at the ballot box.

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Maybe! In the interim, burn rates of already unprofitable companies are going to increase drastically. Does it matter if you overturn the law if you’ve already ceased operations?

Uber ride share is actually profitable in California (and most of the USA), they are burning lots of cash on UberEats however.

If this law is applied fairly, it affects taxi and limo operators as well, so everyone will be in the same boat at least, fares will surge but they will still be in business.

I'm curious, do you have a source for the claim that uber is profitable in most of the USA? That goes against their disclosed info of huge annual losses.

It’s in their earnings report: https://www.businessinsider.com/where-uber-spends-its-money-....

Where? I don't see any mention of profitability in CA in your link or in their actual report [1]. You might be referring to the "Results by Offering and Segment" where they report growth in the US and $1.8B in revenue, but they go pretty far to hide where their losses are actually coming from in relation to rideshare. It's not at all clear to me that they are profitable in any rideshare market.

[1] https://investor.uber.com/news-events/news/press-release-det...

>>If this law is applied fairly, it affects taxi and limo operators as well

Many of those people are already employees or owner/operators. That's why Uber, etc. was able to undercut their fare rates.

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