Salesforce (NYSE: CRM) has become what nearly every software-as-a-service (SaaS) company dreams of being when they grow up. Each company sees a massive market opportunity and is willing to subsidize growth with profitability to capture it. In FY 2024 and the first quarter, Salesforce expects 10% revenue growth, slower than its Q4 growth of 14%. Read More...
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California court rules for Uber, Lyft in ride-hailing case
App-based ride hailing and delivery companies like Uber and Lyft can continue to treat their California drivers as independent contractors, a state appeals court ruled Monday, allowing the tech giants to bypass other state laws requiring worker protections and benefits. The ruling mostly upholds a voter-approved law, called Proposition 22, that said drivers for companies like Uber and Lyft are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance. A lower court ruling in 2021 had said Proposition 22 was illegal, but Monday’s ruling reversed that decision.
