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They may survive, but it will be hard. A bug cut like this will destroy the morale in the company. What works in their favor is that the entire tech industry is
by avrionov 4y ago
They may survive, but it will be hard. A bug cut like this will destroy the morale in the company. What works in their favor is that the entire tech industry is cutting jobs right now and they don't look like an exception.
If the cuts are done well, they'll cut the most of the future projects and focus on a few key areas. Still it is a high risk for them and they may not survive.
- treis 4y agoI'm not sure what y'all are talking about. They're half of a duopoly with 5 billion in revenue a year. They're going to be just fine. This is mostly recognizing that they were feature complete like 5 years ago. They're now in the "keep the lights on and rake in the money while it lasts" phase of a company.
- avrionov 4y agoUber revenue in 2022 was 31B. Lyft revenue was 4B. This is not duopoly. Lyft is much smaller, loosing 1.5B per year and the stock price crashed. They will have hard time to keep the employees and keep the drivers.
- treis 4y agoUber is in a lot more lines of businesses and markets than Lyft is. The split for rideshare in the US is 70% Uber and 30% Lyft.
- mi_lk 4y agoWhere do you get that stat? It's interesting because I think I read that (uber 70, lyft 30) in 2018 when Uber was in deep trouble. After 5 years, Lyft can't do better than that?
- treis 4y agohttps://secondmeasure.com/datapoints/rideshare-industry-overview/ https://secondmeasure.com/datapoints/rideshare-industry-over... Uber made much bigger bets than Lyft. Expanded world wide, launched stuff like eats, and burned a ton of money on self driving cars.