The labor department's proposal sparks selloff of gig economy stocks

by | Dec 8, 2022 | Keogh Plan | 24 comments




Tusk Ventures’ Bradley Tusk, an early investor in Uber, joins ‘Closing Bell’ to discuss the labor departments proposal to classify gig workers as employees, how union forces are striving to get more worker’s rights, and the market selloff sparked by the Biden Administration’s announcement. For access to live and exclusive video from CNBC subscribe to CNBC PRO: 

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24 Comments

  1. Justcruisinmom Mom

    All of us who deliver for me auto parts. We have no protections whatsoever. If I get in an accident driving auto parts somewhere I am responsible for the auto parts if they get damaged I am responsible for my own vehicle I am responsible for my own tires gas etc. while I’m paid 12 bucks an hour. And if I work over a given eight hour day because you don’t end a delivery directly at the time that you would technically be off it’s at my expense. Yes something needs to be done but at the same time many of us want the freedoms that are sometimes allowed in gig operations. Such as many of the gigs Instacart DoorDash Uber eats and many others don’t even pay a livable wage. Do you work your butt off to keep your numbers hi such as five star with Instacart but you really don’t have enough to pay for your gas and time much less your vehicle expense.

  2. AmandaPang

    Interpreters are working professional but treated as slaves. Please! Did they know American need more cultural bridge if you want to become the super power again. But if you still treat these workers as slave. America dream is dead.

  3. StarFleet_Tech 1701

    Consumers pay higher costs equals a new "tax" on the middle class.

  4. Nomadic Scooter

    Hollywood sag actors work w2 and work when they want. But alot of companys try to misclassifle

  5. Be Honest

    They should be employee because the full time drivers don’t make money,the people who has another job are already making money and come drive Uber part time to take full time Uber drivers money and Uber and Lyft didn’t invest nothing at all and they are the one force drivers to take the calls weather they make money or not, if the drivers take calls is difficult some time to cover the gas if not they will go home with no money it means their income is not secure it is called modern slavery.

  6. Grace S.

    My financial advisor got insider news, BUY $TSLA before earning!!! I'm in.

  7. Rideshare Rights

    There is no guarantee for hours, benefits, mileage, or more than minimum wage in the FLSA. We are so f*****.

  8. Rideshare Rights

    They can't pay us all at once (unsustainable)– so most of us will be unemployed. The rest will be miserable, without flex and freedom.

  9. Rideshare Rights

    Those of us who do not want to be employees do not have a voice. Please give us one, CNBC.

  10. Mike

    We hate unions and commies.

  11. Mike

    Get the government to out of our lives! These politicians are corrupt! They hate us!

  12. Leanne Frye

    DOL can’t even answer unemployment applications. Going on6 months with nothing not even a denial. They told me not to contact them or it would delay a response. Vote red like your life depends on it!!!

  13. Clarot Chinenies

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  14. Eternal Valentine Daze

    Why not provide deep discounts on electric, hybrid and hydrogen vehicles for gig workers? There should also be a route optimization/safety drivers course available for additional discounts. Everyone wins with more cleaned and more efficient delivery/transport

  15. Erika Burns

    Greed is the problem! I don’t feel sorry for them. They screw over the gig workers & consumers from day one.

  16. Gavin!

    These are supposed to be side incomes, but useless people complain because they assume being a taxi driver or food delivery driver is supposed to provide a full time income

  17. Connie McQueen Schodnhofer

    Despite the economic downturn, I'm happy ☺️. I have been earning $60,200 returns from my $10,000 investment every 13 days

  18. nava jyoti chetia

    Contractors shall contract and become farmtractors

  19. netstarr77

    The too big government screws up everything they touch.

  20. pnamie

    Is Biden purposely trying to hurt Democrats in the mid-terms? Stupid move by the labor department, huge backlash coming.

  21. Save Point

    This guy is a BS artist.

  22. Bob

    Thanks dems, keep putting stakes into the economy

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