Sounds like a raw deal for a bicycle, but, how about on a scooter?
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I wonder how that will play out.
For that reason it might even be that Uber doesn't worry too much about high turnover because it means that most of their workers are sackable without having to give reasons or compensation.
The trick abused before was hiring people as interim, and then sacking them right before they had to be hired permanently by law. I know first hand even the government in The Netherlands did this in '00. However this still means these people need to get minimum wage (actually, more, since the employment agency also demands a cut). As you can see, the freelance trick is more lucrative.