Like the US lifting patent rights on COVID vaccines has forced the EU to change policy, this will probably change the EU’s planned law concerning gig workers, who they were planning to screw.
The Biden administration on Wednesday blocked a Trump-era rule that would have made it easier to classify gig workers who work for companies like Uber (UBER.N) and Lyft as independent contractors instead of employees, signaling a potential policy shift toward greater worker protections.
Shares of companies that employ gig labor such as Uber (UBER.N), Lyft (LYFT.O) and DoorDash (DASH.N) immediately pared gains. At 2.15 p.m. ET (1815 GMT) Uber shares traded down 3.2%, Lyft was down 5.8% and DoorDash fell 5%.