The Technology 202: Lyft's IPO will be Wall Street's first test of the gig economy
Lyft set the price for its stock at $72 per share late Thursday, March 28, 2019, setting the stage for the ride-hailing pioneer's hotly anticipated stock market debut.
“This is an important IPO because it will open the floodgates for Uber, DoorDash, Postmates and Airbnb,” said Semil Shah, a venture capitalist whose portfolio includes several gig economy companies, such as DoorDash and Wag. “All these things have used mobile labor networks and mobile phones to reorient how people work.”
Already, policymakers at the city, state and federal level are grappling with questions about how to protect gig economy workers' wages or how contractors access healthcare or save for retirement in an economy where benefits may no longer be tied to employment.
For companies operating in cities across the country or even world, these types of decisions made one-by-one at the local level can add up. Drivers' protests in Los Angeles and San Francisco this week
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