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COVID-19 has ravaged ride-hailing companies, but an industry watcher says the crisis could make Uber stronger (UBER)

  • While ride-hailing has suffered from the impact of COVID-19, Uber is in a good position to survive the crisis, three analysts who cover the company told Business Insider.
  • Uber is in no danger of running of out money anytime soon, said Mark Mahaney, a managing director at RBC Capital Markets.
  • And a series of cost-cutting moves should make the company profitable by next year, said Dan Ives, a managing director of equity research at Wedbush Securities.
  • Uber's food-delivery service, Uber Eats, gives the company an advantage over ride-hailing competitors, since it allows homebound consumers to keep using its app, said Tom White, a senior research analyst at DA Davidson.
  • Are you a current or former Uber employee? Do you have an opinion about what it's like to work there? Contact this reporter at mmatousek@businessinsider.com. You can also reach out on Signal at 646-768-4712 or email this reporter's encrypted address at mmatousek@protonmail.com.
  • Visit Business Insider's homepage for more stories.

The ride-hailing industry has taken a major hit from COVID-19 as potential customers remain confined to their homes, but Uber is in a good position to survive the crisis, three analysts who cover the company said.

"Their business model will be intact on the other side of this," said Dan Ives, a managing director of equity research at Wedbush Securities.

A strong cash reserve will help. After ending the first quarter with $9 billion in cash and short-term investments, Uber has the resources to survive a scenario in which the prevalence of COVID-19 and its effect on consumer behavior last for the next two years, said Mark Mahaney, a managing director at RBC Capital Markets.

On Thursday, Uber disclosed its first-quarter financial results, reporting an adjusted loss of $2.9 billion on revenue of $3.5 billion during the first three months of this year. Uber CEO Dara Khosrowshahi said on a call with analysts that the ride-hailing company would cut $1 billion in fixed costs. The company has recently removed its food-delivery service — Uber Eats — from eight unprofitable markets, folded its electric bike and scooter business into Lime (Uber recently led a $170 million investment round in the company), and announced it will lay off about 14% of its workforce.

Those moves should help Uber become profitable in 2021 (the company predicted in February that it would turn a profit by the end of this year), Ives said. Uber's management, which had struggled in the wake of the company's 2019 IPO, has performed well in the current crisis by being transparent with investors and quickly moving to reduce expenses, Ives said. Investors signaled their approval of the company's strategy by sending shares up as much as 8% in after-hours trading on Thursday.

Uber Eats was one of the highlights of the company's first-quarter results, said Tom White, a senior research analyst at DA Davidson, as gross bookings grew 52% from the first quarter of 2019 to $4.7 billion. Eats gives Uber an advantage over ride-hailing competitors that don't have a similar service, as it allows the company to keep homebound consumers using its app, White said. Even after the toll of COVID-19 begins to subside, demand for online food delivery could see continued growth, he added.

But there are still challenges ahead for Uber. The company said rides fell by as much as 80% in April, and Ives projects that 30% of the customers for gig-economy companies like Uber, Airbnb, and Lyft won't use a ride-hailing service until there's a vaccine for COVID-19. Yet the pandemic could leave Uber better off in the long run, White said.

"I saw and heard enough [during Uber's first-quarter earnings call] that makes it harder and harder for me to think that these guys don't emerge from this pandemic probably in a stronger competitive position and a healthier and leaner operating position," he said.

Are you a current or former Uber employee? Do you have an opinion about what it's like to work there? Contact this reporter at mmatousek@businessinsider.com. You can also reach out on Signal at 646-768-4712 or email this reporter's encrypted address at mmatousek@protonmail.com.

SEE ALSO: Elon Musk's theater of the absurd is a sign of the times for tech

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These 19 enterprise tech companies are still hiring during the coronavirus crisis — including AWS, Slack, Box, and Okta

  • Business Insider surveyed enterprise technology companies to determine who's still hiring amid the coronavirus pandemic.
  • Companies like Amazon Web Services, Slack, Okta, Box, and Zoom are actively hiring, while others like Microsoft, Google, and SAP have slowed hiring to prioritize recruiting in key areas.
  • Below is a list of 19 enterprise tech companies that are hiring, and the types of roles they are trying to fill.
  • Visit Business Insider's homepage for more stories.

As companies across industries slow or stop hiring amid the public health and economic crisis caused by the coronavirus, Business Insider surveyed enterprise technology companies to find out who is still hiring, and the types of roles they're trying to fill.

The results include companies actively hiring — such as Amazon Web Services, Slack, Okta, Box, and Zoom — while others like Microsoft, Google, and SAP have slowed hiring to prioritize recruiting in key areas.

Responses come directly from companies, but be aware that hiring alone may not paint a complete picture of what's going on at each one. VMware, for example, told Business Insider that it's hiring, particularly in a few key areas related to its cloud business — but also told employees in an internal memo that it was freezing all salaries.

Oracle, Nvidia, and Palo Alto Networks declined to comment on whether they are still hiring. Workday, Adobe, IBM, Cisco, Stripe, Qualcomm and HP did not reply to requests for more information.

Here are 19 enterprise companies still hiring in some form amid the pandemic, and what they're looking for:

Amazon Web Services is actively hiring, with no hiring freezes in place, the company says. Amazon at large has more than 20,000 job postings in US corporate roles.

 

 

 



Slack is "actively hiring," in a range of positions including engineers, data scientists, designers and customer experience experts, a spokesperson told Business Insider.

The company has moved to a virtual hiring process – all interviews are conducted over video and onboarding happens remotely.

Slack has 213 open positions listed on its website at the time of this writing.



Box is "currently hiring," a spokesperson said, across roles in engineering, sales, marketing, customer success, finance, compliance, business operations, product and product design.

Box's website listed 76 open jobs at the time of this writing.

In additional to moving interviews online, the company has introduced new practices like virtual coffee chats with candidates and videos from employees to learn more about Box's culture. For new hires, the company has switched start dates to once per month and started a buddy system to help with onboarding.

 



Zoom is hiring across the US and internationally for positions including in sales, engineering, legal, and security.

"We did have an extremely ambitious hiring goal already for this year," Lynne Oldham, Zoom's chief people officer, recently told Business Insider. "So where we're seeing additional need is around the places that we touch the customer."

The company had 81 open positions listed on its website as of this writing.



DocuSign "has moved forward with its hiring as previously planned," a spokesperson said, and is hiring in roles across customer services, sales and business development, engineering and IT, marketing, finance, legal, and workplace teams.

The company is also continuing its internship program virtually and plans to bring on more than 100 interns this summer.

DocuSign had 338 positions listed on its careers website as of this writing.



Dell-owned VMware is still hiring, a spokesperson said, and has "hundreds of open roles across R&D, IT, sales, customer services and support, marketing, finance, HR, legal, and business administration."

But the company is also freezing salaries and suspending retirement matching, according to a memo obtained by Business Insider. A spokesperson confirmed that "there have been a number of cost management changes impacting the VMware workforce."

VMware interviews take place virtually.



Microsoft has frozen hiring for some roles, citing uncertainty related to the coronavirus crisis.

"We continue to seek industry-leading talent in a range of disciplines as we continue to invest in certain strategic areas," a Microsoft spokesperson told Business Insider last month. "However, in light of the uncertainties presented by COVID-19, we are temporarily pausing recruitment for other roles."

Microsoft declined to provide more information about for which positions it's still hiring, and which roles are seeing a pause in hiring.

Microsoft's subsidiaries include LinkedIn and GitHub.



German software giant SAP is still hiring in essential areas, but has pledged to reduce hiring and discretionary spending as "precautionary measures" during the pandemic.

The company "will continue to hire carefully selected people into roles that will rapidly contribute to our competitive edge,"a spokesperson said, which it said include in "essential areas" such as innovation, and research and development. 

SAP said its candidate selection has remained the same, but the interviews are conducted virtually. New hires are onboarded virtually and sent SAP-issued equipment to their private addresses so they don't have to go to the office.



Google is slowing down hiring for the remainder of the year, CEO Sundar Pichai told the company in an email seen by Business insider.

Pichai said the company is enacting a hiring freeze on all but a select few "strategic areas" for the remainder of 2020. He wrote in the email that the company needed to "carefully prioritize" recruiting employees to serve its "greatest user and business needs."



Dell Technologies is not "hiring broadly," but subsidiary companies like VMware and Secureworks still are, a Dell spokesperson told Business Insider.

Dell Technologies is still continuing its early-in-career programs and summer internships, although they've become remote. 

"We are constantly evolving our hiring strategy based on business needs," the spokesperson said.



Okta is still actively hiring, Okta's chief people officer Kristina Johnson confirmed to Business Insider.

"We're continuously evaluating what we need as a business during this time, listening to customers, and tailoring our hiring plans to meet those needs," Johnson said. "Okta is in a unique position during this uncertain time in that we had the right infrastructure in place from the get-go to make remote work and remote on-boarding fairly routine."

Okta's main hiring focus areas are in customer service, engineering, and sales, Johnson said. 



Dropbox has temporarily halted its recruiting efforts to figure out the process for onboarding people remotely.

"What we actually ended up doing was we took a pause to just take stock of our onboarding and our approach to onboarding because we wanted to make sure that we weren't bringing people on and that they actually weren't effectively able to onboard," Dropbox COO Olivia Nottebohm told Business Insider.

It's still hiring but has slowed down, only hiring for targeted roles, meaning it's up to managers to hire for key, business critical roles.

"We're trying to just be prudent and nd not get ahead of ourselves given the macro environment that we're in, but we are moving forward to hiring targeted roles," Nottebohm said.

While Dropbox plans to honor pending offers and ongoing interview processes, interviews for new applicants have been put on hold. The college internship program will also take place in the summer remotely.

"Fully remote recruiting and onboarding into a new company comes with unique challenges — bringing new hires into Dropbox takes a great deal of collaboration between many teams, including hiring managers, learning and development, IT, benefits, and recruiting," a Dropbox spokesperson told Business Insider.  

"In order to ensure we're onboarding new hires effectively and managing the strain on these teams during the shelter-in-place orders in effect across the globe, we've paused recruiting efforts temporarily," the spokesperson added.  



In April, ServiceNow promised not to lay off any of its 11,000 employees and also said it plans to keep hiring worldwide this year.

"With this new no layoffs pledge for its 11,000-plus global workforce, ServiceNow continues to take a leading role in how technology companies are responding to this health crisis by helping its own employees and customers get through these challenging and uncertain times," Shane Driggers, vice president of Global Talent Acquisition at ServiceNow, said in a statement to Business Insider.

The company expects to create and fill more than 1,000 new jobs in the US and more worldwide by the end of the year, Driggers says.

"We are leaning into hiring for engineering and sales roles as well as other functions across the business," Driggers said.



Splunk is still hiring for a number of positions across the organization, a spokesperson told Business Insider. Open roles include positions in engineering, sales, finance, accounting, and information technology.



Square is still hiring and focusing on roles like software engineering, data science, product design, sales, marketing, operations, and finance, a spokesperson told Business Insider.

"We are continuing to hire in the US and internationally, focusing on roles that we believe will be the most important to our customers and our business in the coming months," a Square spokesperson said. 

Currently, Square has over 100 open roles. 



Twilio is still hiring across the board and not slowing down, a company spokesperson told Business Insider. There are still open roles in engineering, services, sales, product, and more.



Intel has slowed down external hiring, a spokesperson said. "We have slowed external hiring, but we currently have approximately 1000 open positions that we are actively hiring for."

 

 



Atlassian is still hiring across the board, a spokesperson confirmed. This past March was its strongest month of hiring in its history, the company said, as it brought on about 200 new hires. At the end of March, Atlassian had 4,457 employees.



Zendesk is still hiring roles that are "key to our business," but "deprioritizing" the ones that are not as critical.

Zendesk is still hiring roles that are "key to our business," but "deprioritizing" the ones that are not as critical, a Zendesk spokesperson said.

"In response to the global COVID-19 pandemic, Zendesk has been focused on helping our employees, customers, and community at large navigate their immediate needs and plan for the future in this new world," the spokesperson told Business Insider.

The spokesperson said that Zendesk is continuously looking at how to manage its operations to become more efficient and productive, while minimizing disruption to customers. 

"This is standard for all businesses that are looking at their immediate and long-term strategies in order to position themselves for growth," the spokesperson said. "We believe in the strength of our business and our employees, and the resiliency of our customer base, and are in a good position to weather this crisis and emerge as a better, stronger company."






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Facebook's fight against coronavirus misinformation could boost pressure on the company to get more aggressive in removing other falsehoods spreading across the social network (FB)

  • Facebook is taking a harder line on misinformation related to coronavirus than it has on other health topics in the past.
  • This decision may increase the pressure on the company to act more decisively against other forms of harmful falsehoods that spread on its social networks.
  • Facebook is banning events that promote flouting lockdown protests, and is removing the conspiracy theory video "Plandemic."
  • But false claims that vaccines are dangerous still proliferate on Facebook — even though they contribute to the deaths of children.

Amid the pandemic, Facebook is taking a harder line on misinformation than it has in the past. That decision may come back to haunt it.

As coronavirus has wreaked havoc across the globe, forcing lockdowns and disrupting economies, false information and hoaxes have spread like wildfire on social media. Miracle cures, intentional disinformation about government policies, and wild claims that Bill Gates orchestrated the entire health crisis abound.

In the past, Facebook has been heavily criticised for failing to take action to stop its platform being used to facilitate the spread of misinformation. To be sure, coronavirus falsehoods are still easily found on Facebook — but the company has taken more decisive action than in previous years:

But Facebook's actions to combat COVID-19 misinformation may backfire — in the sense that it has the potential to dramatically increase pressure on the company to take stronger action against other forms of misinformation.

The company has long struggled with how to handle fake news and hoaxes; historically, its approach is not to delete them, but to try to artificially stifle their reach via algorithmic tweaks. Despite this, pseudoscience, anti-government conspiracy theories, and other falsehoods still abound on the social network.

Facebook has now demonstrated that it is willing to take more decisive action on misinformation, when the stakes are high enough. Its critics may subsequently ask why it is so reticent to combat the issue when it causes harm in other areas — particularly around other medical misinformation.

One expected defence for Facebook? That it is focused on taking down content that causes "imminent harm," and while COVID-19 misinformation falls into that category, lots of other sorts of falsehoods don't.

However, using "imminence" as the barometer of acceptability is dubious: Vaccine denialism directly results in the deaths of babies and children. That this harm isn't "imminent" doesn't make it any less dangerous — but, for now, such material is freely posted on Facebook.

Far-right conspiracy theories like Pizzagate, and more recent, Qanon, have also spread on Facebook — stoking baseless fears of shadowy cabals secretly controlling the government. These theories don't intrinsically incite harm, but have been linked to multiple acts of violence, from a Pizzagate believer firing his weapon in a pizza parlour to the Qanon-linked killing of a Gambino crime boss. (Earlier this week, Facebook did take down some popular QAnon pages — but for breaking its rules on fake profiles, rather than disinformation.)

And Facebook is still full of groups rallying against 5G technology, making evidence-free claims about its health effects (and now, sometimes linking it to coronavirus in a messy web). These posts exist on a continuum, with believers at the extreme end attempting to burn down radio towers and assault technicians; Facebook does take down such incitements to violence, but the more general fearmongering that can act as a gateway to more extreme action remains.

This week, Facebook announced the first 20 members of its Oversight Board — a "Supreme Court"-style entity that will review reports from users make rulings as to what objectionable content is and isn't allowed on Facebook and Instagram, with — in theory — the power to overrule the company. It remains to be seen whether its decisions may affect the company's approach for misinformation, and it still needs to appoint the rest of its members and get up and running.

For now, limits remain in place as to what Facebook will countenance in its fight against coronavirus-specific misinformation.

CEO Mark Zuckerberg said the company would immediately take down posts advertising dangerous false cures to COVID-19, like drinking bleach. It is "obviously going to create imminent harm," he said in March. "That is just in a completely different class of content than the back-and-forth accusations a candidate might make in an election."

But in April, President Donald Trump suggested that people might try injecting a "disinfectant" as a cure, which both has the potential to be extremely harmful, and will not cure coronavirus.

Facebook is not taking down video of his comments.

Do you work at Facebook? Contact Business Insider reporter Rob Price via encrypted messaging app Signal (+1 650-636-6268), encrypted email (robaeprice@protonmail.com), standard email (rprice@businessinsider.com), Telegram/Wickr/WeChat (robaeprice), or Twitter DM (@robaeprice). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by standard email only, please.

SEE ALSO: Facebook announced the first 20 members of its oversight board that will decide what controversial content is allowed on Facebook and Instagram

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9 Most Unusual, Surprising (And Some Rude) Cruises Ever

What are the unusual, surprising and even rude theme cruises that you can go on? I look at 9 of the theme cruises on the seas that you could go on (if they appeal!). Many groups and organisations charter entire cruise ships and run themed cruise vacations - some of which you may find very remarkable. Discover the 9 types of theme cruises many travellers may find surprising and unusual.

** Buy my Cruise T-shirts: http://bit.ly/TFTStore
** USA cruisers get great cruise deals CRUISEDIRECT.COM: http://bit.ly/TFTBookCruise
** UK Cruisers get great cruise deals with CRUISE.CO.UK: http://bit.ly/BookCruiseUK

Gary Bembridge's Tips For Travellers aims to help you make more of your precious travel time and money on land and when cruising the oceans or rivers of the world. To help you, in every video I draw on my first-hand tips and advice from travelling every month for over 20 years and 60+ cruises.

Follow Tips For Travellers on:
- Instagram: http://www.instagram.com/garybembridge
- Facebook: http://www.facebook.com/tipsfortravellers
- Twitter: http://www.twitter.com/garybembridge




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9 Biggest Pros and Cons Of Cruising To Iceland

Should you cruise to Iceland? If you want to visit Iceland what are the pros and cons of cruising over doing a land-based visit. There are many good things about taking a cruise, and I explore the 6 best pros of cruising to Iceland before looking at the 3 top things you need to consider that may make a land-based trip a better option for you.

Note: I travelled as a guest of Saga Cruises on a round Iceland cruise when making this video. A lot of the footage and tips also draw on my Voyages To Antiquity cruise to Iceland last year too.

** Buy my Cruise T-shirts: http://bit.ly/TFTStore
** USA cruisers get great cruise deals CRUISEDIRECT.COM: http://bit.ly/TFTBookCruise
** UK Cruisers get great cruise deals with CRUISE.CO.UK: http://bit.ly/BookCruiseUK

Gary Bembridge's Tips For Travellers aims to help you make more of your precious travel time and money on land and when cruising the oceans or rivers of the world. To help you, in every video I draw on my first-hand tips and advice from travelling every month for over 20 years and 60+ cruises.

Follow Tips For Travellers on:
- Instagram: http://www.instagram.com/garybembridge
- Facebook: http://www.facebook.com/tipsfortravellers
- Twitter: http://www.twitter.com/garybembridge




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Solo Cruising Tips

How can you cruise better and cheaper as a solo cruise passenger? I often cruise solo and have 8 tips and things you can do as a single travellers to have a great cruise experience and find ways to do it cheaper. Cruising solo can be costly as most lines charge up to double occupancy rates even for a single occupancy of a cabin. Find out the best lines, where to book, times to go, what to do once on board and other tips I have discovered on my cruising journey to date.

Gary Bembridge's Tips For Travellers aims to help you make more of your precious travel time and money on land and when cruising the oceans or rivers of the world. To help you, in every video I draw on my first-hand tips and advice from travelling every month for over 20 years and 75 cruises at time of recording this.

Follow Tips For Travellers on:

Instagram: http://www.instagram.com/garybembridge

Facebook: http://www.facebook.com/tipsfortravellers

Twitter: http://www.twitter.com/garybembridge

 




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oscon: Beginner's Guide to Computer Vision - 2D/3D image fundamentals, OpenCV, OpenNI Library + more http://t.co/ph2dKrC9W4 #oscon #tutorial

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