California Appeals Court Says Uber and Lyft Must Classify Drivers as Employees

The Motley Fool cites CEI on California’s AB5 rule:

The libertarian Competitive Enterprise Institute think tank estimates AB 5 could raise prices and fares as much as 50% by imposing costs on companies that are 67% higher. Analysts estimate Uber, which generates 9% of its revenue from California, would see costs rise by approximately $500 million annually, while Lyft, which earns 14% of its revenue there, would see $290 million more in costs each year.

Click here to read more.