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Uber and Lyft say they're ending services in Minneapolis over a city-mandated driver pay increase. The city council pushed through the measure to bring driver pay closer to the local minimum wage of $15.57 an hour.
It’s not impossibly expensive. Uber is a public company and you can just read their annual reports. Their gross profit margin ranges from 38% to 45%.
They spend $4 to $5 billion every year on sales and marketing, more than any category besides cost of revenue (actually running the app).
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001543151/bbb206f1-a6ba-4521-82cf-ae2d4011057f.html#
No, they are not just trying to keep the lights on.