Uber reveals the wildest things riders left behind in its backseats

Uber cut its People team by 23%, according to the article. The company reported fiscal Q1 gross bookings of $53.7 billion (+25% year over year) and revenue of $13.2 billion. Adjusted EPS was $0.72, above expectations, and Q2 guidance was $0.78–$0.82. Despite technical weakness, analysts keep a “Moderate Buy” consensus with an average price target near $107.

CBS News California reported that food delivery drivers in California used rented or stolen app accounts to bypass background checks, including test orders where one in four drivers didn’t match the app photo. The follow-up at the State Capitol highlighted a law requiring apps to show a driver’s name and photo. Lawmakers are exploring stronger safeguards and penalties; Uber, Lyft and DoorDash said fraudulent accounts are removed, and Meta removed accounts violating its policies.

CBS News California reported that some food delivery drivers in California used rented or stolen app accounts to bypass background checks, citing test orders where one in four drivers didn’t match the app photo. The investigation prompted lawmakers to consider closing the loophole. Assemblywoman Laurie Davies’ law requires driver name and photo; she said she’s exploring stronger safeguards and penalties. Uber, Lyft and DoorDash said they remove fraudulent users; Meta removed violating accounts.

Rivian CEO RJ Scaringe, an owner of a Tesla Model Y, says Rivian’s R2 SUV could match Tesla’s energy efficiency. The U.S. EPA certification cited by the article shows Rivian R2 Performance AWD at 105 MPGe and 32 kWh/100 miles, with 330-mile range vs Tesla Model Y Performance at 105 MPGe, 32 kWh/100 miles, and 306 miles. Rivian plans R2 order invitations starting June 9, with deliveries 2–6 weeks later, and is expanding Georgia capacity to 300,000 units/year.

Anthropic closed a $65B Series H at a $965B valuation, while an enterprise customer reportedly overspent $500M in one month after failing to set token spend limits. The article says Q1 2026 shifts to token-based billing made AI costs measurable, but some firms report weak ROI links between token spend and product gains, including Uber and Microsoft.

The article says investors increasingly reward earnings only when companies explicitly link results to AI demand. It cites ASML and ServiceNow, which beat revenue estimates and raised guidance but fell. It also notes Snowflake, Dell, and HPE rose 19%–33% after crediting AI. The IT sector is now about 37% of S&P 500 market cap, per S&P Dow Jones Indices.