Surge situation 🚗 — Uber and Lyft’s stocks tank. Crowdfunding platforms will have to report suspicious transactions like banks do. The NYTimes reports record subscriber numbers.

Markets are trying to connect the dots on the future of ride-sharing, as Uber doubles its revenue from last quarter but Lyft’s weak earnings outlook has dragged both companies’ stock prices down. Canada has become one of the first countries in the world to hold crowdfunding platforms to the same reporting standards as banks for large or suspicious transactions. Thanks to boosts from recent acquisitions, The New York Times added 387,000 net digital subscribers in Q1, bringing its total subscribers to 9.1 million The Peak Daily is produced by 306 Media Productions. Hosted by Brett Chang and Jay Rosenthal.