If you’re a bad tipper, DoorDash plans to call you on it
TheStreet’s J.D. Durkin brings you the biggest news of the day, including the market’s reaction to Wednesday’s Fed meeting and why DoorDash wants to call out non-tippers.
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00:00 I'm JD Durkin reporting from the floor of the New York Stock Exchange and here is a
00:03 look at what we are watching on the street today.
00:06 Investors are still digesting the Federal Reserve's latest policy decision.
00:09 For the second consecutive month, the U.S. Central Bank left rates unchanged.
00:14 It's a move that stoked optimism that the Fed could be finished raising rates in 2023.
00:19 Separately, Wall Street is also looking ahead eagerly, I should say, to Apple earnings.
00:23 They come out after the market closed later today.
00:26 Investors are expecting to see a dip in the tech giant's third quarter revenue due to
00:30 slowing sales.
00:31 Meanwhile, if you are a lousy tipper, DoorDash is preparing to, well, kind of call you out
00:36 on it.
00:37 The company is now testing a pop-up message in its app that warns customers who choose
00:41 not to tip of potentially slower service.
00:45 The message says, quote, "Orders with no tip might take longer to get delivered.
00:49 Are you sure you want to continue?
00:51 Dashers can pick and choose which orders they want to do.
00:54 Orders that take longer to be accepted by dashers tend to result in a slower delivery."
00:59 According to DoorDash, 100 percent of tips go directly to dashers, or the people who
01:04 pick up and deliver your food.
01:06 So if a customer opts to leave off the tip altogether, there's a good chance that order
01:10 might get a little cold.
01:12 Federal tipped minimum wage is $2.13 an hour, but employers are required to make up the
01:17 difference if a worker's tips don't bring their hourly wage up to the federal minimum
01:22 of $7.25 an hour.
01:24 In Q3, DoorDash reported a 27 percent bump in revenue compared to last year, and the
01:29 total amount of orders placed growing by 24 percent year-over-year to $543 million.
01:37 That'll do it for your daily briefing.
01:38 From the floor of the New York Stock Exchange, I am JD Durkin with The Street.
01:41 Thanks for watching.
01:42 [end]