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Uber and DoorDash bet on higher earners. It’s paying off big.

Black-car rides, paid memberships, and other offerings for affluent consumers are paying off for Uber, Instacart, and other gig-based services. Loading audio narration… Despite rising gas prices and consumers trimming their budgets, many people are still spending on ride-hailing and food delivery, according to companies’ latest earnings results. Uber, DoorDash, and Instacart largely beat quarterly expectations this week and saw their stocks lift.”We’re definitely seeing that not all consumers are under pressure,” said Brian Mulberry,…

Finance news

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Business

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Bay Area luxury home prices surge 13% since AI boom, Redfin finds

The artificial intelligence (AI) boom has caused a surge in luxury real estate prices in the Bay Area, although more affordable areas in Silicon Valley haven’t seen the same gains since the launch of ChatGPT kickstarted the tech sector’s AI race. An analysis by Redfin compared the median home sale…

Markets

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12 companies that have said they’re doing AI-related layoffs

Salesforce cut fewer than 1,000 workers in February, including employees from marketing, product management, data analytics, and its Agentforce AI product.In an episode of “The Logan Bartlett Show” released last August, Salesforce CEO Marc Benioff said the company was using AI agents in its customer support division to replace humans…

Investing

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