Uber is suing the New York City government over its decision to put a one-year cap on the number of cabs available on its streets, reports Wired. Uber called the decision anti-competitive, overreaching and short of insight on how to deal with traffic. It also added that the cap prevented drivers from “taking advantage of the minimum wage law” and that congestion pricing was the only “evidence-based plan to reduce traffic and fund mass transit.” Uber has used a threat-like approach any time something has gone against it (see here and here, for example) - about NYC, it said that industry constraints “will have a disproportionate impact on residents outside of Manhattan who have long been underserved by yellow taxis and mass transit.” According to the Wired report, NYC has around 106,000 for-hire vehicles. Earlier this month, Uber competitors Lyft and Juno also sued the NYC government for implementing minimum pay for their drivers. Also read: Uber and Lyft Made Traffic Worse in San Francisco. But It’s Complicated Uber’s 2018 revenues and bookings Meanwhile, Uber also posted $50 billion in total bookings for rides and food delivery in 2018, according to this Economic Times report. Revenues grew 2% to $3 billion in its Q4FY19, up 2% from Q3FY19 and 24% over 2017 Gross bookings in Q4FY19 were $14.2 billion, up 11% from Q3FY19 Annual booking figures were up 45% from 2017 2018’s full year revenue was $11.3 billion, up 43% from full year 2017 revenue Losses before taxes, depreciation and…
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