Uber has taken its first steps to becoming a publicly traded company, following rival Lyft’s debut on the stock market last month. The initial filing from Uber reveals even more extensive details about the company's revenue, ridership and potential roadblocks.
The good? Ridership is up and Uber is expanding its food delivery service. The bad? The rid-hailing company is losing huge sums of money and faces steep competition.
This week on WNYC’s Money Talking, Charlie Herman talks to , IPO and markets reporter for the Wall Street Journal, about the latest information about Uber and what is says about the future of tech and driving.
Uncovering The Secrets of the Consulting Firm McKinsey
Much of the way influential consulting firm McKinsey & Co. operates is shrouded in secrecy. But recent reporting by the New York Times has revealed some of the company’s secrets, including its involvement with to make required financial disclosures.
McKinsey has defended its work around the world. In a , the firm told the Times that “since 1926, McKinsey has sought to make a positive difference to the businesses and communities in which our people live and work.”
This week on Money Talking, Charlie Herman talks with New York Times investigative editor Walt Bogdanich and investigative reporter Mike Forsythe about their reporting on the often hidden world of McKinsey and why it matters.
Paying to Drive in Manhattan
New York City just became the first city in the country to implement congestion pricing. As part of the effort to ease traffic and raise money to fix public transportation, drivers entering Manhattan below 60th Street could pay between $10 and $15 per day for cars and possibly double for trucks. But how the system will work technologically, who might be exempted from paying the fees and how much they will actually raise are details that have yet to be decided. Cities like London and Stockholm have already implemented congestion pricing, but with mixed results. This week on Money Talking, Charlie Herman and WNYC transportation reporter Stephen Nessen talk about the ways congestion pricing will cost you, and how it might pay off.
Google's Advertising Monopoly
Advertising has become a big business for Big Tech—and it keeps getting bigger. Google now controls a whopping 91 percent of the search advertising market.
The tech giant’s monopoly means it’s almost impossible for businesses not to advertise with Google. That’s especially true if you’re a company that exists entirely online, like the ride-sharing app Lyft, or mattress brand Tuft & Needle. Lyft, for example, spent 92 million dollars on ads placed with Google last year. As a recent article in notes, that’s about 10 percent of Lyft’s 2018 net loss.
And if a business decides not to advertise on Google, a competing brand might buy its keywords and place an ad against them. It’s an advertising Catch-22.
This week on Money Talking, Ilya Marritz speaks with Jake Swearingen, a contributor for New York Magazine’s Intelligencer, about how Google came to dominate search advertising—and what it means for businesses and consumers alike.
Deal or No Deal, Time’s Running Out for Brexit
It’s been nearly three years since a majority of people in the United Kingdom voted to leave the European Union. One of the arguments made by many Brexit supporters was to “take back control.” Lately, however, the opposite has been true as the process spirals out of control.
Britain was on track to leave the E.U. one week from today, but a last minute reprieve has given British Prime Minister Theresa May a new deadline of April 12, to come up with deal.
No matter when or exactly how Brexit occurs, analysts expect there will be financial and economic consequences for the country. Already, the uncertainty has hurt businesses and overall economic growth.
This week on Money Talking, WNYC's Charlie Herman speaks with about the effects of Brexit on that nation's economy and its people.