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Most of these benefits are being subsidized by VC money (and pension fund LPs). The only reason I enjoyed my $2.25 LyftLine rides last month was because Lyft wa
by rdlecler1 12y ago
Most of these benefits are being subsidized by VC money (and pension fund LPs). The only reason I enjoyed my $2.25 LyftLine rides last month was because Lyft was burning through their VC money trying to build enough supply/demand to get better scale. Thank you California Teachers Pension Fund! Even with 20-30% markups these companies will not make money without big assumptions about moving down the cost curve. When the VC party end for these companies, it will end for us too, and then we'll have to go to the store to buy our own damn gluten free kale! Until then ladies and gentlemen, we live like aristocrats!