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Putting the shares into ridesharing with New York's Drivers Cooperative

2,500 New York drivers have created a cooperative ridesharing business that pays them better than Uber and Lyft plus loads of added benefits.

Seamus Byrne
Seamus Byrne
— 1 min read
Putting the shares into ridesharing with New York's Drivers Cooperative

In a great example for one possible future of the ridesharing industry, a cooperative of 2,500 New York drivers has created a new company that will give everyone better rates of pay and claims rides will be cheaper for users.

It launched this past weekend, with drivers being paid 10% above minimum wages for the industry as well as profit share via dividends to the collective ownership group.

The driver sign-up page at The Drivers' Cooperative website also points out drivers will become eligible to join a credit union and will get better deals on auto loans. Lots of benefits plus, you know, a share of ownership of the entire business!

Sounds like what ridesharing should actually sound like.

TechnologyBusiness
Seamus Byrne

Seamus Byrne

Founder and Head of Content at Byteside. Brings two decades of experience covering tech, digital culture, and their impacts on society.

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