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90% of Lyft drivers work there while having another job or while looking for full time work. At $72 per share I'm sure they can afford to invest in the company
by josh_carterPDX 8y ago
90% of Lyft drivers work there while having another job or while looking for full time work.
At $72 per share I'm sure they can afford to invest in the company they made so valuable. :-/
- MuffinFlavored 8y agouhh... share price isn't what makes Lyft expensive. It's P/E does... because there's no earnings.
- josh_carterPDX 8y agoAgree. However, the point I was trying to make is that a driver could not afford to buy shares even if they wanted to.
- karlakush 8y ago$72 is not prohibitively expensive. Also, buying shares of a company just because you work for them is not always a smart decision. If the company goes under, you will lose your job. Do you really want to lose your savings as well?
- radicalriddler 8y agoThese days I believe that fractional investing is more common, so firms such as Betterment will allow an investor to purchase half a share and sorts. This doesn't take away from your comment completely though, most Lyft drivers wouldn't have the spare income to invest into the company, it's just not because the share is $72 that they can't invest. But it's because they've pushed so much into this share price, that surely they could've put more money into drivers pay, instead of lining their corporate overlords pockets.
- josh_carterPDX 8y agoAbsolutely. If you consider a $40 ride will only yield about $25 for the driver, there is a lot of room to give more to drivers. Sad to see this sort of cash grab by the current Lyft shareholders.
- tmh79 8y agoare you kidding? Lyft is loosing 1B/year there is no "free money" to give out to anyone, engineers, drivers, marketers. its a tight market.