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Lyft lays off 17% of workforce, furloughs hundreds more

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Re: Lyft lays off 17% of workforce, furloughs hundreds more

#501

Post by danielrpa »

sanp wrote: post #463
alkibiades wrote: post #459

Earlier quoted context omitted.

so why should people in texas pay for the stupid budget decisions of san francisco when they didn’t waste their money? it’s moral hazard

And why should NY or CA residents fund most of the federal budget?

Because they are richer. This is the very same principle employed by both states for their internal taxation - the idea that the more you make, the less you get from your taxes relatively speaking ("the rich" pay higher tax rates in both states).

It's just progressive taxes applied to the entire country, where NY and CA are "the rich" among the states.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#502

Post by revel »

roosterdawn wrote: post #123
netcan wrote: post #103

Earlier quoted context omitted.

a great time for Amazon or Google to buy Lyft ...What would they do with it? The business model (also uber) as-is makes a loss. Uber/Lyft's initial proposition was that once ride sharing incumbents were established, they'd have a software-ish monopoly and margins. This did not work out. Now the proposition is "When driverless cars get invented..." If google had a car that can drive itself, they can figure out an app.…

Yes, it probably would be a valuable to Amazon. So valuable, in fact, that it already[1] exists. [1] https://flex.amazon.com/

There are wild differences between flex and ride sharing.

Amazon already had an internal project that was going to compete with Lyft and Uber. It was called Rides and it was abandoned. Rex Tibbens headed that project and subsequently left Amazon and went to join Lyft as their COO.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#503

Post by dnautics »

notyourday wrote: post #263
seibelj wrote: post #211

Earlier quoted context omitted.

I would prefer that states have more power and we further decentralize authority away from the federal government. This will limit the see-saw that occurs whenever the president switches parties.

> I would prefer that states have more power and we further decentralize authority away from the federal government. No EPA. No DOE. No equality under the law. No EOC. No NLRB. No Amtrak. No federal enforcement of consent decrees. No voting right act. No gay marriage, etc? Edit: Thanks for downvotes. Every single one of these is enforced by federal and not state courts. It is federal court that gave us Roe v. Wade, f…

Have you ever met a DOE program manager? Have you ever personally dealt with an EOC lawsuit? I've done both, and let me tell you neither of those organizations comes anywhere near what you seem to imply they do. I'm not convinced society wouldn't be better without them.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#504

Post by csmiller »

decafninja wrote: post #425
baron_harkonnen wrote: post #63

Earlier quoted context omitted.

This will play our more like the dotcom burst than the 2008 crisis. For most younger people here this may come as a shock but tech jobs can disappear, for years. The job market in 2019 felt a lot like the job market in 1999, people rushing to get upskilled so that they could get into software and make ridiculous money. After the dotcom burst huge number of people left tech, or at least left the world of software deve…

Would this be a bad time to be in a job hunt to change companies? Anticipating that there may be a cohort of newly laid off SWEs from prestigious brand-name companies (Uber, Lyft, potentially others) flooding the market? I'm guessing I, as a lowly, humble, SWE from an investment bank, would be easily looked over in favor of those aforementioned veterans/alumni of highly regarded Silicon Valley companies. Unless if I…

I’m in a similar situation and am still getting messages from FAANG recruiters. I think you would be fine.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#505

Post by eskaytwo »

danielrpa wrote: post #501
sanp wrote: post #463

Earlier quoted context omitted.

And why should NY or CA residents fund most of the federal budget?

Because they are richer. This is the very same principle employed by both states for their internal taxation - the idea that the more you make, the less you get from your taxes relatively speaking ("the rich" pay higher tax rates in both states). It's just progressive taxes applied to the entire country, where NY and CA are "the rich" among the states.

But if the Republican approach is a regressive tax (eg the big tax cut favouring the big end of town) then shouldn’t CA/NY also receive similar treatment? That’s essentially the discrepancy going on here.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#506

Post by csmiller »

2OEH8eoCRo0 wrote: post #184
johntiger1 wrote: post #30

Crap, I was scheduled to go on internship with them this summer, but I feel like that might quickly no longer be an option..

I quit a job in defense software in October, took a couple months off, and now this shit. Many companies took down their job boards entirely and some don't even render correctly with no items listed. Many in-progress interviews I had got put on hold, and now the job market is about to be flooded with out of work talent, raising competition and lowering the salary I'd probably get. Many places I've applied to have sin…

Yeah Boston area hit pretty hard

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#507

Post by cortesoft »

dantheman wrote: post #490
cortesoft wrote: post #417

Earlier quoted context omitted.

Sure, but people took those jobs in large part because of those pensions. It is part of the entire compensation package. They often times took less money up front in return for better pensions. The problem is that this was not properly budgeted for when funding the pensions.

When you take a job and its benefits are not properly funded or the funding assumptions are insane (8% growth). That's on you.

How is a worker supposed to know if the benefits are properly funded? Even if they can know, some of these used to be funded correctly (when they were hired) but later cuts made them underfunded.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#508

Post by maxerickson »

Domenic_S wrote: post #437
cortesoft wrote: post #417

Earlier quoted context omitted.

Sure, but people took those jobs in large part because of those pensions. It is part of the entire compensation package. They often times took less money up front in return for better pensions. The problem is that this was not properly budgeted for when funding the pensions.

I don't blame workers for taking a good deal. I do blame the folks making crazy promises that have no way to fund without being bailed out.

There's lots of proposals in this thread to inflict the consequences on the workers.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#509

Post by kccqzy »

vikiomega9 wrote: post #442
stephencoyner wrote: post #19

This seems like a great time for Amazon or Google to buy Lyft. Amazon could bundle rides with package deliveries and get the pre-existing driver and passenger network from Lyft. Lyft was actually telling drivers to work with Amazon when the pandemic started (1). Waymo could take Lyft’s aggregated rider demand. They already have a partnership to transfer autonomous rides from Waymo to Lyft during bad weather situation…

I work for Lyft and was part of this cut. I truly worked toward fixing things, and I don't want to sound salty here even though will, there's not much going on with Lyft or Uber to save in terms of tech. It's shoddy and useless. For the most part if Amazon got into the game now, and with their flywheel, they could eat Lyft alive and wait for Uber to bleed dry.

Both Uber and Lyft have self-driving initiatives. Perhaps their regular ride-hailing business doesn't have much tech but they hired some famous people to do their self-driving tech.

Re: Lyft lays off 17% of workforce, furloughs hundreds more

#510

Post by adelHBN »

Ok, I seriously don't get this. How is the stock market doing so well? This article about Lyft is just but one glimpse of what's happening to the economy. And it ain't going to get better any time soon. I've been waiting to invest in the stock market, but am totally whiplashed by the rise of stock market. It's completely disconnected from the real economy.
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