Latest news with #Lyft
Time of India
a day ago
- Business
- Time of India
'Uber continues to suffer...': Company files third lawsuit over fake insurance claims in US
Uber has filed a lawsuit against a group of lawyers and medical providers in Los Angeles, US, over alleged fraudulent insurance claims , a report claims. The latest litigation reportedly marks the third such lawsuit the ride-hailing giant has filed this year. According to a report by Bloomberg, Uber has claimed that these activities have cost the company millions in legal fees and that the "scheme remains ongoing, and Uber continues to suffer." The federal case, which was filed in the central district of California, accuses the defendants of directing passengers to "pre-selected medical providers" who then submitted inflated bills for treating minor or non-existent injuries from minor collisions that occurred between 2019 and 2024. Uber alleges that the personal injury lawyers involved exploited a state-mandated $1 million rideshare insurance policy limit by fraudulently inducing "significantly larger settlement payments." In one instance, the company stated a medical bill was 10 times the typical amount. What Uber wants from this lawsuit This lawsuit aims to "recover the full extent" of the millions of dollars in defence costs and settlements resulting from these alleged schemes. In addition to its legal action, Uber is also supporting state legislation that seeks to lower insurance coverage limits for rideshare companies. Earlier this year, Uber filed similar racketeering lawsuits in New York and Florida as part of a broader campaign to reduce rising insurance costs, which the company says are passed on to customers through higher fares. This has contributed to a continued slowdown in Uber's US rideshare business, the company has said. According to Uber, insurance costs can make up around 32% of fares in California and as much as 45% in Los Angeles County, which are among the higher rates in the country. In response, the company has invested heavily in local and national advertising this year to advocate for changes to insurance regulations. Last week, Uber voiced 'strong support' for a California senate bill aimed at reducing the minimum requirements for uninsured and underinsured motorist coverage offered by rideshare companies. As per a recent testimony from Ramona Prieto, Uber rival Lyft's Director of Policy has also backed the proposed legislation. Uber has also seen some movement on this front. In June, the New York City Council approved a bill the company supported that reduced insurance requirements for taxis and rideshare drivers under personal injury protection coverage. Google Pixel 10 Series Launch: Everything Coming on August 20 AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Daily Mail
a day ago
- Entertainment
- Daily Mail
Fox Business star Taylor Riggs gives BIRTH in the back of a Lyft after getting stuck in traffic
Fox Business star Taylor Riggs gave birth to her second child in the back of a Lyft three days ago after getting stuck in New York City traffic. The 39-year-old Big Money Show presenter and husband Bryan Kolterman welcomed their daughter, Louisa Adeline, on July 18 in the back of a taxi and just a few blocks away from the hospital. The unconventional birth came after the parents 'underestimated' how quickly their new bundle of joy would arrive – as well as the Manhattan traffic. Before Louisa's arrival, Taylor labored for a couple of hours in her apartment before she and her doula decided they should call a car. 'There was a moment when my doula and I looked at each other and said, "I think we need to go to the hospital," but I underestimated how fast my girl would come and how much New York City traffic we would face,' she said. 'We were a few blocks away from the hospital, stuck in traffic, trying to dodge potholes, and my baby girl was born. 'I am so grateful for my doula, Tymaree, who delivered my baby in the backseat and helped make sure Louisa was safe, breathing, and warm until we arrived.' Speaking to People, Taylor said she was also grateful to her husband who 'remained calm while calling the hospital ahead of time.' Bryan called the emergency room 'to tell them we were coming in very hot' and once they had finally arrived, he ran through the front doors to tell staff, "My wife just gave birth in a car. The baby is in the car."' According to the mom-of-two, the hospital staff came running out to help. A nurse then cut the umbilical cord in the backseat of the car, before taking in Taylor and the little girl into the hospital on a stretcher. Taylor of course also thanked her Lyft driver, who 'was very calm under pressure.' She also credited him with trying to get them to the hospital as quickly as he could. Social media users have already expressed shock over Taylor's dramatic birth story. Taking to Instagram, one said: 'Oh my GOSH! That's amazing! Congrats!' Another wrote: 'In the back of a car! Oh my goodness, what a story, congrats Taylor.' 'I underestimated how fast my girl would come and how much New York City traffic we would face,' Taylor revealed 'Louisa - what an iconic NYC baby,' said a third. 'We love you already! Taylor and Bryan are also parents to daughter Rodell, whom they welcomed in September 2023. 'We think my older daughter Rodell is really excited!' Taylor added to People. 'To prepare for this moment, we've been reading her lots of books about what it means to be a big sister, how she can help us, and what she can do to play with her little sister. 'We want Rodell to feel special during this time too, so on maternity leave, I'm committed to doing something alone with her once a week, so she and I can maintain our bond.'
Forbes
a day ago
- Business
- Forbes
Travel More, Earn Faster: Lyft's Revamped Rewards Go Live August 4
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Lyft is rolling out more bang for your buck this summer. Starting August 4, the rideshare company is upgrading its Business Rewards program and travel loyalty program partnerships, giving riders more opportunities to earn both Lyft Cash and travel rewards. Whether you're commuting to work, heading to the airport for summer vacation or taking a premium ride, the new perks help you rack up rewards faster. Lyft just provided business travelers something to look forward to: cash back on their commute. Through its revamped Business Travel Rewards program, riders invited to their company's Lyft Business Profile will automatically earn Lyft Cash on eligible work rides. There's no need to opt in or activate the benefit. It's applied automatically as long as the ride is linked to a business profile. The new rates, launching August 4, are as follows: 6% back on standard work rides (Standard, Priority, XL, Pet, Wheelchair and Green) 8% back on premium rides (Black, Black SUV and Extra Comfort) 8% back on airport and scheduled rides In a move to court frequent flyers, Lyft is expanding its travel rewards partnerships, offering travelers more ways to earn while they ride. Since July 17, linked Alaska Airlines Mileage Plan riders earn rewards with every eligible trip: 2 miles per dollar on everyday Lyft rides (Standard, Priority Pickup and XL) 3 miles per dollar on airport trips and premium rides (Black, Black SUV and Extra Comfort) These boosted rewards apply to both personal and business rides, and they stack with other offers. This means riders can earn miles through Lyft while still collecting points or miles on their credit card. Additionally, beginning August 4, business riders who link their Lyft accounts to Alaska Airlines Mileage Plan will earn 4 to 6 miles per dollar on most rides, more than the 2 to 3 miles per dollar earned on personal rides. Hilton Honors members also get a bump, earning 6 points per dollar on most business rides and 2 points per dollar on personal rides. What makes this announcement even more appealing is that you can stack rewards. Riders can earn: Lyft Cash for business rides Airline or hotel points through partnered programs like Alaska Airlines Mileage Plan and Hilton Honors Credit card rewards, such as 5 points per dollar on Lyft rides with an eligible Chase card, like the Chase Sapphire Preferred® Card , through September 30, 2027. Each reward program operates independently, so savvy travelers can earn in multiple ways on a single ride. If you want to get the most out of Lyft's new reward system, use a Business Profile for your work rides. This way, you earn Lyft Cash automatically without doing anything extra. Don't forget to link your airline and hotel loyalty accounts in the Lyft app to earn points on every trip. To maximize your return on spending, consider paying with a travel credit card that offers elevated rewards on ridesharing purchases. Additionally, when you're heading to the airport, try to schedule your rides ahead of time to take advantage of the additional travel rewards and Lyft Cash that Lyft offers on airport and premium trips. Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed. Whether you're a frequent flyer, daily commuter or someone who prefers ridesharing over driving to relax over sitting behind the wheel, Lyft's revamped rewards program offers solid value—especially for travelers looking to stack points and perks without changing their routine. Riders can now earn automatic Lyft Cash, plus 2x to 3x more airline miles and hotel points, depending on the travel partner. For road warriors and business travelers, those extra points can add up fast. The new benefits officially launch August 4, but Alaska Airlines Mileage Plan members are already earning boosted miles on eligible rides. To take advantage of the new rewards, just link loyalty accounts in the Lyft app and start riding.
TechCrunch
2 days ago
- Automotive
- TechCrunch
Former Tesla president discloses the secret to scaling a company
Few companies have grown as quickly as Tesla, especially just before and after the company launched the Model 3, its first affordable EV. 'We scaled Tesla in 30 months from $2 billion in revenue to $20 billion in revenue,' Jon McNeil, the former president of Tesla who is now co-founder and CEO of DVx Ventures, told the crowd at TechCrunch's All Stage event in Boston. It wasn't McNeil's first time scaling companies, nor would it be his last. Previously, he founded six different companies, and after Tesla, he joined Lyft as COO before starting his own venture firm, where he's launched a dozen startups. Over the years, McNeil has developed a playbook that helps him identify when a company is ripe for scaling. He shared those insights last week with the audience at TechCrunch All Stage 2025. When assessing a company's potential to scale, McNeil primarily judges them on two different measures, product-market fit and go-to-market fit. It's not unusual for investors to focus on those concepts, but McNeil has distilled them into two objective measures. For product-market fit, he asks each startup, 'do 40% of your customers say they cannot live without your product,' he said. If not, then the company isn't ready. 'We keep adding, adding, adding and tweaking the product until we get to 40% and then we say, okay, boom, now we've got product market fit,' McNeil said. 'It's actually objective and measured. It's not a feeling, it's not a sense. It's a metric.' Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW McNeil added, 'We did a study of businesses that actually achieved breakout, and those businesses achieved breakout at roughly that 40% acceptance level.' Second, McNeil looks at whether the company has a mature go-to-market strategy. Specifically, he's interested in whether the amount a company spends to acquire customers, known as customer acquisition cost (CAC), is sufficiently below the total lifetime value (LTV) that the customer will bring the company. When a company starts pulling in four times more money over the life of the customer than it spent to acquire them — an LTV to CAC ratio of four-to-one — that's when he knows the company is ready. 'Then we pour in the cash. But before then, we're doling out cash $100,000 at a time just to get to different stage gates,' he said.
Yahoo
2 days ago
- Automotive
- Yahoo
Former Tesla president discloses the secret to scaling a company
Few companies have grown as quickly as Tesla, especially just before and after the company launched the Model 3, its first affordable EV. 'We scaled Tesla in 30 months from $2 billion in revenue to $20 billion in revenue,' Jon McNeil, the former president of Tesla who is now co-founder and CEO of DVx Ventures, told the crowd at TechCrunch's All Stage event in Boston. It wasn't McNeil's first time scaling companies, nor would it be his last. Previously, he founded six different companies, and after Tesla, he joined Lyft as COO before starting his own venture firm, where he's launched a dozen startups. Over the years, McNeil has developed a playbook that helps him identify when a company is ripe for scaling. He shared those insights last week with the audience at TechCrunch All Stage 2025. When assessing a company's potential to scale, McNeil primarily judges them on two different measures, product-market fit and go-to-market fit. It's not unusual for investors to focus on those concepts, but McNeil has distilled them into two objective measures. For product-market fit, he asks each startup, 'do 40% of your customers say they cannot live without your product,' he said. If not, then the company isn't ready. 'We keep adding, adding, adding and tweaking the product until we get to 40% and then we say, okay, boom, now we've got product market fit,' McNeil said. 'It's actually objective and measured. It's not a feeling, it's not a sense. It's a metric.' McNeil added, 'We did a study of businesses that actually achieved breakout, and those businesses achieved breakout at roughly that 40% acceptance level.' Second, McNeil looks at whether the company has a mature go-to-market strategy. Specifically, he's interested in whether the amount a company spends to acquire customers, known as customer acquisition cost (CAC), is sufficiently below the total lifetime value (LTV) that the customer will bring the company. When a company starts pulling in four times more money over the life of the customer than it spent to acquire them — an LTV to CAC ratio of four-to-one — that's when he knows the company is ready. 'Then we pour in the cash. But before then, we're doling out cash $100,000 at a time just to get to different stage gates,' he said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
