TLCMKT News (09.21.20): 87% of NYC Restaurants Unable to Pay Rent, NYC Named "Anarchist" City by White House, Commercial Eviction Ban Extended, Uber Investors Want Answers on Self-Driving Unit

Select TLCMKT news headlines for Monday, September 21st 2020.

Photo Credit: call me hangry

Nearly 90 Percent of NYC Restaurants Were Unable to Pay Full Rent in August: Survey (Eater New York)

• A new survey of more than 450 establishments by the NYC Hospitality Alliance has revealed that 87% of restaurants, bars, nightclubs and event venues were unable to pay full rent in August (34% were unable to pay any rent at all).

• Represents an increase from June (80%) and July (83%)

• According to survey, 60% of restaurant landlords still haven’t waived rent during the COVID-19 pandemic.

• Link to story

New York among three 'anarchist' cities named by White House to lose funds (BBC)

• New York City, Portland and Seattle are on the list of "anarchist cities" that Trump officials say have failed to stem crime linked to a summer of protests.

• A statement from the Justice Department on Monday laid out recent crime rates in the cities and how their police responded.

  "We cannot allow federal tax dollars to be wasted when the safety of the citizenry hangs in the balance." - Attorney General William Barr

• NYC Mayor Bill de Blasio responded to the news.

  “It's insulting to the people of New York City and his [Mr Trump's] effort to withhold our funding is unconstitutional." - Mayor Bill de Blasio

• It remains unclear what federal funding may be cut from NYC.

• Link to story

Commercial-eviction ban extended another month (Crain’s)

• Commercial evictions in New York will remain on hold until at least Oct. 20 under an executive order issued Friday by Gov. Andrew Cuomo.

• Moratorium on residential evictions, which expires at end of this month, was not further extended. Cases that had already begun before March 17th will be allowed to move forward.

• Link to story

Photo Credit: Charles Deluvio

Uber Investors Are Pressuring CEO to Revamp the Self-Driving Division (Bloomberg)

• Uber’s self driving unit is frustrating investors as it continues to drain financial resources without helping Uber achieve profitability.

• Two prominent Uber investors, Softbank and Benchmark, have encouraged Uber CEO Dara Khosrowshahi to find more investors to fund the unit.

• Uber’s CEO is exploring various options, including opening up the project to coders around the world (“open sourcing” the project) or building a car with existing partners, including Toyota and Denso Corp.

  PitchBook mobility analyst Asad Hussain describes a nightmare scenario where Waymo develops its own network, Amazon gives free rides to Prime subscribers, and Uber becomes irrelevant. “Self-driving is the next smartphone,” he said. “You don’t want to get left out.”

• Link to story

The TLCMKT Newsletter is written by Dawood Mian, Founder & CEO of TLCMKT. I cover the NYC ridehailing industry and related news. Search TLCMKT for TLC cars, parts, service, accessories, professional services, reviews & more. Find great deals at TLCMKT.COM.