A proposed California law could classify ride-hailing drivers as employees, instead of contractors, based on a three-part employment test. Wall Street analysts say that Uber and Lyft drivers are likely to pass the test — and that the change could bankrupt both companies. Lyft maintains that it is committed to increasing driver pay, and executives from both companies outlined a plan for drivers in an op-ed last week. But supporters of the bill say Uber and Lyft are misleading drivers and the...


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