Enlarge / Headquarters of ride-sharing technology company Uber in the South of Market (SoMa) neighborhood of San Francisco on October 13, 2017. (credit: Smith Collection/Gado/Getty Images)
California voters decisively approved a ballot measure Tuesday allowing ride-hail services like Uber and Lyft to treat their drivers as independent contractors, not employees. With 72 percent of the vote counted, Proposition 22 is winning by a 58-percent to 42-percent margin. That’s a big enough lead for the Associated Press to project its passage.
Uber’s stock rose 14 percent in Wednesday trading. Lyft is up 12 percent.
The measure had heavy financial backing from Uber, Lyft, and other “gig economy” companies that employ large numbers of drivers. They funded both signature gathering and an expensive ad blitz to convince voters to support it.
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Source: Ars Technica – California votes against granting Uber and Lyft drivers employee status