Ride-hailing, delivery giants win fight against labor law
California voters passed Proposition 22 and delivered a stinging rebuke to state lawmakers and labor leaders who were fighting for better working conditions for a growing number of people who drive for ride-hailing and food delivery services. Uber, Lyft, Doordash, Instacart and others sought to get out of those requirements, and after failing in court, succeeded in convincing voters to give them an exemption from most of the year-old law’s provisions. The investment yielded a huge return for Uber and Lyft, whose combined market value climbed by $10 billion on Wednesday. Uber, Lyft and, DoorDash, Instacart and their supporters accounted for roughly $200 million that amount, underscoring how badly the companies wanted to preserve their business model. “It’s not really fair that Uber, Lyft etc.