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Increased competition. Lyft is burning through money at an unprecedented rate to catch up with Uber given that they smell blood this year and investors ala Goog
by misun78 9y ago
Increased competition. Lyft is burning through money at an unprecedented rate to catch up with Uber given that they smell blood this year and investors ala Google are willing to subsidize the burn. At some point, this has to stop but 2017 does not seem to be the year.
Source: Lyft pushes back profitability after increased burn - https://techcrunch.com/2017/11/14/unpacking-lyfts-projected-financials/ https://techcrunch.com/2017/11/14/unpacking-lyfts-projected-...
- pishpash 9y agoLooks like the easy Fed money made it into consumers' pockets after all.
- blhack 9y ago>Increased competition. Maybe I'm weird, but: 1) I don't even look at what the price of lyft is. So they could up the price by a significant percentage I wouldn't even notice. 2) Even if Uber was more expensive than lyft, I would almost definitely still take uber.
- misun78 9y agoYou're not weird and this is precisely why Uber is still the market leader. But there is a cohort, in some specific areas where Lyft's network is on par with Uber's such that price, and more specifically targeted discounts, do play a part. Lyft can analyze which one of its riders has not taken a ride in a while (and is hence presumably using Uber) and target them with discounts.
- pishpash 9y agoLyft just can't shake the ... downmarket vibe.
- ironjunkie 9y agoyes you are weird. Every time I take an "expensive" ride (let's say more than 10$), I open both apps in parallel and take the cheapest. Even sometimes cancelling one to get the other if the price changed meanwhile.