*By Michael Teich*
Uber is driving itself to the center of the scooter scuffle with its strategic partnership with Lime, a deal that will allow users to eventually request an electric scooter through its app.
Axios reporter Dan Primack, who broke the story, says there's a key advantage to the bike-sharing company choosing Uber as a partner over rival Lyft.
"One of the big reasons Lime wanted to partner with Uber is because Uber has much deeper geographic penetration, especially internationally," Primack said in an interview on Cheddar Tuesday. On top of that, "Uber has the deepest pockets right now. "
A fragile relationship with city officials, though, could hold back Uber and Lime from a complete transportation takeover. San Francisco is only granting five permits for companies to operate a dock-less, rentable electric scooter programs on city streets. While Primack said it's still unclear whether either company will be one of the chosen, he noted that Lime's survival does not depend on the SF market because it is already in 80 other regions.
"It wouldn't be end of world if they didn't get into San Francisco."
Despite sky-high valuations for scooter companies such as Lime and Bird, Primack told Cheddar it is unlikely that the industry is in a bubble. He also does not expect the deals in the scooter business to lose momentum, predicting that we could soon see Uber fully acquire Lime.
"My guess is that it would happen quick," he said.
For the full segment, [click here.](https://cheddar.com/videos/primack-uber-best-positioned-in-scooter-wars)
With real estate being a largely male-dominated industry, Stephanie Shojaee, vice president and chief marketing officer at development company Shoma Group, joined Cheddar News to discuss how she took on the gender gap for women to achieve leadership roles, starting at her own company. “It's been very important to teach all the women that work here, especially the younger ones, that they shouldn't change themselves," she said. "You need to be happy with who you are and just keep breaking barriers."
We are already starting to feel the effects of summer. Heat waves in Texas and California are already sending temperatures soaring. That could spell trouble for the nation's power supply. there are new concerns about outages in many areas of the country. Cheddar's Shannon Lanier explains the two main causes of blackouts, and what states are doing to keep the lights on and the air conditioning running.
Pinterest is making a big move as it pushes further into online shopping. The image-focused social media site is acquiring A.I.-powered shopping platform THE YES as it focuses on enhancing the user shopping experience. THE YES's technology gives users a personalized feed of products based on their preferences, and Pinterest is banking on the tech to give it an advantage among other social media apps with built-in shopping features. Julie Bornstein, founder and CEO of THE YES, joins Closing Bell to discuss the company's unique technology, why it agreed to sell to Pinterest, her vision as she takes over shopping initiatives, and more.
Keith Barr, CEO of InterContinental Hotel Group, says he is expecting an 'incredible' summer for his business as pandemic conditions have normalized and people are ready to travel.
Dann Ryan, Chief Investment Officer at Sincerus Advisory, discusses what drove markets lower on Wednesday, as well as what investors are anticipating when it comes to the upcoming CPI report and Fed decision.
U.S. stocks close Tuesday at session highs after a subpar start to the trading day. Tim Chubb, Chief Investment Officer at the wealth advisory firm, Girard, joins Cheddar News' Closing Bell to discuss. 'We're starting to see the moderation of three core things -- we've seen the moderation of prices, we've seen the moderation of wage growth we've seen in the labor market, and we've also seen a moderation of job openings,' he says.
The victims from the USA gymnastics sexual abuse scandal continue to seek justice. Survivors of Larry Nassar are seeking more than one-billion dollars from the FBI for failing to stop the convicted sports doctor when the agency first received allegations. According to a report released by the Justice Department's Inspector General, FBI agents knew
in July of 2015 that Nassar was accused of abusing gymnasts; however, Nassar wasn't arrested until December of 2016. The group that filed the claim includes Olympic medalist Simone Biles and around 90 other women. Louise Radnofsky, sports reporter at The Wall Street Journal, joins Cheddar News' Closing Bell to discuss.
A controversial professional golf tour backed by Saudi Arabia tees off on Thursday. Today, two-time Major winner Dustin Johnson announced he's resigned from the PGA Tour ahead of headlining the Saudi-backed tour, called the LIV Golf Invitation Series. The announcement comes as the PGA tour has threatened disciplinary action for its golfers who take part in the Saudi golf league event, which will also feature notable golf stars like Phil Mickelson and Sergio Garcia; however, LIV Golf's CEO, Greg Norman, told The Washington Post that Tiger Woods rejected a contract worth 'high nine digits' to play in the tour. Chris Bumbaca, reporter for USA Today Sports, joins Cheddar News' Closing Bell to discuss.
CreditCards.com senior industry analyst Ted Rossman compares the Apple Pay Later offering to similar four-step processes at Affirm and Klarna, and says this is a way for the tech giant to dive deeper into the financial industry.
Tech analyst Rene Ritchie discusses new EU legislation that will force iPhones to use a USB-C charger in fall 2024 and what that means for Apple's strategy in Europe.
