Monday, April 1, 2019

Lyft Was Full of Crap and Now It's Stinking Rich

I want to be hard on Lyft but, let's be honest, half the damn tech companies on the planet are guilty of the same damn business practices.

Lyft believes that paying drivers higher rates, as mandated by the taxi commission, requires either that the company absorb enormous losses or raise rates on the passenger side, which depresses demand, which means less work and ultimately less money for drivers, undercutting the goal of the pay rules in the first place.