What Lyft Executives Are Telling Investors About IPO
According to this info, they'll continue to do what they've done for 9 years now. They have no strategy moving forward and losses will grow bigger and bigger, while drivers will stop driving for them.
As agents, they are bound to find the entity they are actively representing (the drivers) the best deal possible coming from potential clients (the riders).
As agents, they'll retain a percentage of that deal value, a percentage both parts agreed at the BEGINNING of their business relationship (percentage that both platforms kept altering in their favor while lowering rates in order to kill their competition).
If these rideshare platforms think drivers will continue to drive while their agents will retain more and more money from the riders using drivers effort and assets, these platforms are completely out of touch.
And if drivers stop driving for them, Uber and Lyft will end up managing dockless bikes and electric scooters, more useless junk thrown on the already crowded city streets.
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