Uber, why they're hated. I have a question for you. Why do you think Uber is hated? Uber at the moment is on the stock market, currently at around $24 a share, and it's down over the year on 50% year by year. They stay on the website that they are a tech company that connects the physical and digital world to help make movement happen at a top of a button, and because they believe in a well where movement should be accessible. In this video, we will go through why they're hated and the information behind that so stay tuned. A recent study using data mind from Twitter has found out that negative sentiment towards Uber is at an all-time high. Rare reviews, the company behind the research used the research tools, senti strength to evaluate sentiment from over a million brand related tweets. These were then used as information to establish a hate rate. The hate rate is simple to the percentage of negative tweets given to a brand. Their research actually found out that Uber tops the rankings in both the UK and US as the UK's hate peaked at 47%, and it was slightly higher in the US reaching over 48%. Uber has repeatedly argued that their drivers are self-employed or independent partners, meaning Uber has no responsibility for a holiday, a sick pair, an element of workers' rights that you could otherwise get at a different company. We've clasped in themselves as independent self-employed contractors to the company, it means that Uber takes on less responsibility when it comes to workers' rights. Another reason for Uber's hate is that they are trying to aggressively monopolize a specific area with increased Uber drivers. This is bad locally for the taxi firms that are not associated with Uber, but also Uber drivers themselves. The more supply they provide within an area, the reduce in demand. It makes it harder for Uber to get rides and often drives down prices. This combined with the issues of workers' rights can make an incredibly difficult in some areas. Uber is also a heavily centralized system where the drivers have very little share. Uber sets the actual fairs, which means they dictate how much a driver can earn. Uber sets the contract terms and drivers as no say in those contract terms. And ride requests are constrained by Uber, who can penalize drivers if they reject too many of them. Uber monitors a driver's service through the star rating and they can terminate the relationship if after repeated warnings this does not improve. On the other end of the spectrum, monopolization in a specific area is also the term surge pricing, which has heavily been adopted by Uber themselves. According to Uber's website, surge pricing is introduced when they aren't enough cars on the road to meet demand. This is due to peak times, so bad weather or large events like football matches or festivals. Following the Euro 2020 finals, the price of an Uber was four times higher than the base rate. Uber state that the reason for the price increase is to ensure that those that need a ride get one. Riders who don't need a ride as desperately can choose to wait to see if the price is incurred down. At a time with inflation in 2022, surge pricing and raising rates to an unreasonable level when they've actually also pushed out other taxi companies and they have an monopolization over the area is not good for the consumer because it means you've got to pay more. Or be it at busy times you should expect to pay a little bit more but as much as four times the amount is a ridiculous increase and taking advantage of the consumer base. It's previously law fairs were only made possible by its exploitative practices as well which will go into. In temples business law magazine it states regarding taxi drivers, the company's entry into the markets is unfair insofar as it does not follow the same regulations leaving taxi drivers with substantially higher operating costs. Regarding its own drivers, the company is now defending various lawsuits in which drivers are led to misclassified them as an independent contractor rather than the employee to avoid duties including minimum wage and maximum hour protection and work related investments. Employment status is my also entitled workers to compensation and insurance and potentially the collective bargaining rights. Ultimately what you have is a situation whereby there is an unfair competitive field regarding Uber versus normal taxi companies. Uber can lower costs and have an aggressive pricing strategy, birthwares. However recently it's been reported in June 2022 that Switzerland's top court upheld a ruling that ride hailing company Uber should be treated as an employer dismissing the company's attempt to overturn a Geneva court's verdict. Uber loses the appeal as top Swiss court rules company is an employer. Uber is able to offer a higher pricing strategy and also a low pricing strategy because they have lower operating costs and are not necessarily operating on the same level as normal taxi companies due to the business model and how they operate as a tech company. New York Times has even stated that the company has been accused of committing rampant workplace harassment, mishandling medical records and concealing data breaches, meaning Uber has been the centre of many scandals for over many years with unethical practices and negative values. Uber is soon to be launching Uber on which is the ability to pay a monthly subscription of around $10 a month, about £8 to have the incredible exclusive right of having less extortion at fair prices. They are now going to a subscription-based business model to tempt you away from using traditional taxi service, fervent trying to monopolise the taxi industry. However there is some good aspects about Uber. Of course the ability to quickly book a taxi on the application, the accessibility of taxis within the area and the ease of use of the application when booking taxes. It's a tech company that's trying to innovate the way in which we travel using a different business model and utilising technology to create a customer experience. It also gives people job opportunities and flexibilities to work the hours they want. However as mentioned in this video there are many potential exploitative practices, scandals, unethical values, proliferated by this company. 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