On Thursday, Uber agreed to pay the US Federal Trade Commission (FTC) $US20 million ($26 million) over claims it misled prospective drivers, recruiting them with ads that inflated typical earnings and mischaracterised the terms of its vehicle financing program.
Such is the power of Uber and Airbnb they have inspired international cooperation in this uncertain world. Mayors from 10 cities worldwide are working together to write a unified “rulebook” for how to deal with these companies.
Airbnb has always claimed it’s a benevolant part of the sharing economy, simply helping homeowners get a little extra vacation cash, rather than a parasite driving up long-term rental costs. To prove that it’s serious, the company has announced a crackdown in San Fransisco.