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00:00:01
>> Uber's new CEO has flown to London in an effort to appease regulators threatening the taxi company's very existence in the city. Dara Khosrowshahi has only been in the job for about a month, his arrival coming just a day after sources told Reuters that its top lieutenant for northern Europe would resign.
00:00:19
And as UK correspondent, Costas Pitas, explains, the turmoil has piqued the interests of Uber's competition.>> On one hand, Uber has months, potentially years, to operate before its license could go if they keep losing appeals. On the other hand, their competitors are already circling. A very good example of that is Addison Lee.
00:00:38
They're the number two in London. They have around three and a half thousand drivers, and they wanna take that to four and a half thousand drivers. And they announced that on Friday, only a couple of days after Uber lost its license.>> Uber lost its license on safety grounds, after the city and police said it was too slow to report crimes involving its rides, failing to disclose them entirely.
00:01:01
But there's another threat that may loom larger. Worker's rights challenge that would let drivers be entitled to benefits like employees. The added expense would force Uber to rethink its entire business model. In the past, that model's allowed them to undercut livery services like Addison Lee and London's traditional black cabs.
00:01:22
Now, those foes see a weak spot.>> So what's clear is they're muscling in on the territory. There will be Uber drivers now who are uncertain about their future. Remember, famously, the drivers are self-employed. They are not workers or employees according to Uber. Some of them already drive for more than one operator.
00:01:42
They could, obviously, stop operating for Uber and start operating for someone else. Reuters estimates London may represent about half of Uber's net sales in Europe.