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Lyft Drivers Protest Falling Wages as Execs Drum Up Investor Money for $25 Billion IPO | Gizmodo

Inside the luxury Omni Hotel in downtown San Francisco on Monday morning, Lyft executives and investors wheeled and dealed about the company’s upcoming IPO as the firm’s valuation hit a whopping an estimated $25 billion and climbing.

Outside the Lyft investor meeting, 75 drivers and labor organizers protested falling wages, a lack of pricing transparency, as well as calling for a driver minimum wage.

“The number one reason we’re here is to get a fair wage,” Lyft driver Rebecca Stack-Martinez told Gizmodo. “Since the inception of these rideshare apps, they’ve done nothing but cut drivers wages. It seems to happen two to three times a year. And it’s not only falling wages, it’s the way we get paid for particular rides and that they change the way they structure things like surge pricing.”

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Lyft Drivers Protest Falling Wages as Execs Drum Up Investor Money for $25 Billion IPO.

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