New York City authorities will stop issuing new licenses to “for-hire” vehicles used by Lyft, Uber and other ride-hail apps, per new legislation approved by the city council Wednesday. The limit will last one year, and exempts wheel-chair accessible vehicles, which can still get for-hire licenses. The bill’s passage makes New York City the first major U.S. city to put major restrictions on the...
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DoorDash Should Buy Instacart Now
Instacart’s stock price performance so far brings to mind a variation on the old line about love: Is it better to have gone public and lost, or never to have gone public at all? The shares fell 9% on Monday to $26.96, 10% below its IPO price, following our scoop that the Wall Street analysts at the banks underwriting the offering are projecting a severe slowdown in Instacart’s growth in the...
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