# Lyft is circling the drain.



## Rideshare Dude (Aug 27, 2020)

They haven’t come close to making a net profit. Their stock is down 80% from its high just after the IPO. They are losing marketshare in my city. They are treating their drivers like shit. Most of their rides are three dollar garbage. I would be surprised to see them last 6 to 12 months.


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## Fuber-driver (12 mo ago)

I was gonna post about it 

Lyft is shutting down
Get out before it’s to late 

inside news
Lyft is going to shutdown within 5 months 
They are not even gonna send any warning to drivers or riders 

one day you gonna wake up and read a massage on the Lyft app saying
We are sorry we don’t operate anymore


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## Stevie The magic Unicorn (Apr 3, 2018)

Cash out daily and don't be suprised if they "owe" you money when they shut down.

Personally i'd also make a habbit of cashing out 5 minutes before midnight westcoast time in case of a utility shutdown.



Fuber-driver said:


> I was gonna post about it
> 
> Lyft is shutting down
> Get out before it’s to late
> ...


That will cost too much money/effort. One day the app is going to disconnect.


And there's no garuntee it won't happen while you have a passenger in the car, leaving an interesting insurance problem.


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## Rideshare Dude (Aug 27, 2020)

Fuber-driver said:


> I was gonna post about it
> 
> Lyft is shutting down
> Get out before it’s to late
> ...


It will be interesting to see how it all plays out. That would drop a lot of demand onto the Uber system.


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## Drivincrazy (Feb 14, 2016)

Lyft stock ipo'd at $72...it's now about $17...looks dangerously high to me. The driver app got worse, not better...I did 4,400+ rides for them years ago...tried about 10 rides post pandemic...all paid around $4-6. I'm kinda' sad to see they will be lucky to survive.


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## Rudyhawaii (Apr 24, 2018)

People thought rideshare meant cheaper than taxi rides .. it’s absolutely not !

rideshare meant luxurious car charging twice the taxi price that’s what it was going to be!

now only Lyft can do it because they are local company.. cash out from Uber they won’t last the summer!


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## Rideshare Dude (Aug 27, 2020)

Drivincrazy said:


> Lyft stock ipo'd at $72...it's now about $17...looks dangerously high to me. The driver app got worse, not better...I did 4,400+ rides for them years ago...tried about 10 rides post pandemic...all paid around $4-6. I'm kinda' sad to see they will be lucky to survive.


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## Be Right There (9 mo ago)

I'd really like to know what on earth those who bought Lyft stock at $78/share were thinking.


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## Rideshare Dude (Aug 27, 2020)

Be Right There said:


> I'd really like to know what on earth those who bought Lyft stock at $78/share were thinking.


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## Rideshare Dude (Aug 27, 2020)

My guess would be that Bezos or Musk will buy them for pennies on the dollar.


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## Mad_Jack_Flint (Nov 19, 2020)

Rideshare Dude said:


> My guess would be that Bezos or Musk will buy them for pennies on the dollar.


Musk would be wise to do so and then out a cheap version of his Tesla out there and see what happens…


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## Stevie The magic Unicorn (Apr 3, 2018)

Rideshare Dude said:


> My guess would be that Bezos or Musk will buy them for pennies on the dollar.


Why?

I'm sure they can pick up the rights to the name at the chapter 7 bankruptcy cheaper than buying the company out.

At the end of the day the name will be the only thing worth anything when the companies go into bankrupcy with zero assets loads of liabilities and massive number of pending lawsuits.


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## Rideshare Dude (Aug 27, 2020)

Stevie The magic Unicorn said:


> Why?
> 
> I'm sure they can pick up the rights to the name at the chapter 7 bankruptcy cheaper than buying the company out.
> 
> At the end of the day the name will be the only thing worth anything when the companies go into bankrupcy with zero assets loads of liabilities and massive number of pending lawsuits.


Technology, patents, licenses, permits, customer base, drivers, management team, etc


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## Daisey77 (Jan 13, 2016)

Fuber-driver said:


> inside news
> Lyft is going to shutdown within 5 months
> They are not even gonna send any warning to drivers or riders
> 
> ...


Where did this inside news come from?


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## Seamus (Jun 21, 2018)

Rideshare Dude said:


> My guess would be that Bezos or Musk will buy them for pennies on the dollar.


You have to first have the debt and any pending litigation cleared out so you have to let them file bankruptcy first.


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## montecristo (Aug 15, 2020)

Rideshare Dude said:


> My guess would be that Bezos or Musk will buy them for pennies on the dollar.


Maybe he'll make their algorithm public like he's supposedly going to do with Twitterr's.😂


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## Daisey77 (Jan 13, 2016)

montecristo said:


> Maybe he'll make their algorithm public like he's supposedly going to do with Twitterr's.😂


Heck I'd be happy if they just made their AP public again


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## New2This (Dec 27, 2015)

Rideshare Dude said:


> management team


LMFAO.

They drove (pun intended) the company into the ground.

They're worth this maybe...


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## haji (Jul 17, 2014)




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## Rideshare Dude (Aug 27, 2020)

New2This said:


> LMFAO.
> 
> They drove (pun intended) the company into the ground.
> 
> ...


When you buy a company you leave the management team in place only for the transition period. It’s a gradual housecleaning.


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## Stevie The magic Unicorn (Apr 3, 2018)

Rideshare Dude said:


> Technology, patents, licenses, permits, customer base, drivers, management team, etc


You left off something very important.

if you buy a company you inherit their debts and obligations.


If Bezos buys the name rights at a bankruptcy auction he gets the customer base, then he can program a new app and he's golden.

Now if he buys the company he's stuck paying out whatever lawsuits get filed against the company from now until the end of time.


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## KK2929 (Feb 9, 2017)

Rideshare Dude said:


> They haven’t come close to making a net profit. Their stock is down 80% from the IPO. They are losing marketshare in my city. They are treating their drivers like shit. Most of their rides are three dollar garbage. I would be surprised to see them last 6 to 12 months.


----------------------------------
I am curious, Ride Share , Dude..
You are always posting on the forum.. When do you do actual RiseShare work ??


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## Frontier Guy (Dec 27, 2015)

Rideshare Dude said:


> They haven’t come close to making a net profit. Their stock is down 80% from the IPO. They are losing marketshare in my city. They are treating their drivers like shit. Most of their rides are three dollar garbage. I would be surprised to see them last 6 to 12 months.


Because Uber is paying and doing so much better? LMAO


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## Rideshare Dude (Aug 27, 2020)

Frontier Guy said:


> Because Uber is paying and doing so much better? LMAO


Actually Uber does pay better but both are using business models that are doomed to fail.


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## Frontier Guy (Dec 27, 2015)

Rideshare Dude said:


> Actually Uber does pay better but both are using business models that are doomed to fail.


Maybe in your market, but in most markets Uber and Lyft pay drivers the exact same amount, the difference, if there is any, at the end of the trip, is pennies. Last time I did both in the same weekend, a ride from downtown Denver to the airport on Lyft paid $26.70, on Uber it paid $26.90. Sorry, I'm not going to kneel and slurp on Dhara's knob for 20 cents, also, as has been pointed out, Uber is already stopping the temporary fuel upcharge in some markets.


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## Rideshare Dude (Aug 27, 2020)

Frontier Guy said:


> Maybe in your market, but in most markets Uber and Lyft pay drivers the exact same amount, the difference, if there is any, at the end of the trip, is pennies. Last time I did both in the same weekend, a ride from downtown Denver to the airport on Lyft paid $26.70, on Uber it paid $26.90. Sorry, I'm not going to kneel and slurp on Dhara's knob for 20 cents, also, as has been pointed out, Uber is already stopping the temporary fuel upcharge in some markets.


Their rates per mile and per minute are identical. But it is easier to make money on Uber. Better rides. Better pax. Better surges. Not so many garbage rides. You can call and cancel on Uber too.


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## EM1 (Apr 28, 2019)

Dara sees $$$ more rides for Bluber yet theyll still burn billions & end up in trash like Gryft


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## Frontier Guy (Dec 27, 2015)

Rideshare Dude said:


> Their rates per mile and per minute are identical. But it is easier to make money on Uber. Better rides. Better pax. Better surges. Not so many garbage rides. You can call and cancel on Uber too.


LOL, your argument is the same as the pax who says “I like Lyft better than Uber, the drivers are better”, failing to realize that 85% of drivers do both, pax pick and chose based on who is cheaper or closer. I picked up a guy a few months back that requested on both all the time, then would cancel whichever driver was further away. The dealer I go to for service has a corporate account with both, when customers need a ride going more than 5 miles, they use U/L, the service secretary checks to see which app is cheaper before ordering.


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## Rideshare Dude (Aug 27, 2020)

Frontier Guy said:


> LOL, your argument is the same as the pax who says “I like Lyft better than Uber, the drivers are better”, failing to realize that 85% of drivers do both, pax pick and chose based on who is cheaper or closer. I picked up a guy a few months back that requested on both all the time, then would cancel whichever driver was further away. The dealer I go to for service has a corporate account with both, when customers need a ride going more than 5 miles, they use U/L, the service secretary checks to see which app is cheaper before ordering.


Your comment is a bunch of nonsense that doesn’t dispute my logical reasoning. Do you just enjoy pissing on peoples cornflakes?


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## Frontier Guy (Dec 27, 2015)

Rideshare Dude said:


> Your comment is a bunch of nonsense that doesn’t dispute my logical reasoning. Do you just enjoy pissing on peoples cornflakes?


Lol, The rates are the same to you, those extra alms that you get on one vs the other are based on glitches in the mapping of the apps.
Yes, because I prefer Fruit Loops to cornflakes.


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## Daisey77 (Jan 13, 2016)

Rideshare Dude said:


> Their rates per mile and per minute are identical. But it is easier to make money on Uber. Better rides. Better pax. Better surges. Not so many garbage rides. You can call and cancel on Uber too.


I get paid $0.05 less a mile and $0.01 less a minute on Lyft than I do on Uber. No shows also pay a minimum of $2.08 less.


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## Schmanthony (Nov 18, 2017)

Daisey77 said:


> I get paid $0.05 less a mile and $0.01 less a minute on Lyft than I do on Uber. No shows also pay a minimum of $2.08 less.


Those differences are negligible. I guess if you're just taking base fares with no surge or promos you'd choose Lyft. But then the question would really be... why are you driving for base with no surge or promos?


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## Daisey77 (Jan 13, 2016)

Schmanthony said:


> Those differences are negligible. I guess if you're just taking base fares with no surge or promos you'd choose Lyft. But then the question would really be... why are you driving for base with no surge or promos?


I don't Drive basic uberX or Lyft anyways. I only do XL. I was just pointing out that the two don't have identical rates in every Market


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## 232200 (7 mo ago)

Funny, it seems like many of you are hoping these companies fail. Sure they pay garbage rates, but you can make decent money if you know how to work the right way. If you can’t make decent money there’s 2 reasons why, your market is depressed, nothing you can do about that, or you don’t know how to use the apps to your advantage. For those that are making decent money and hoping the apps go bankrupt, be careful what you wish for.


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## Schmanthony (Nov 18, 2017)

Schmanthony said:


> Those differences are negligible. I guess if you're just taking base fares with no surge or promos you'd choose Lyft. But then the question would really be... why are you driving for base with no surge or promos?


^ Oops I meant you'd choose Uber lol


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## Schmanthony (Nov 18, 2017)

UberPro1969 said:


> Funny, it seems like many of you are hoping these companies fail. Sure they pay garbage rates, but you can make decent money if you know how to work the right way. If you can’t make decent money there’s 2 reasons why, your market is depressed, nothing you can do about that, or you don’t know how to use the apps to your advantage. For those that are making decent money and hoping the apps go bankrupt, be careful what you wish for.


If Lyft or Uber shut down... the other will have a monopoly. They will be able to exploit drivers with more impunity since there won't be another company to offer anything better. Unless Amazon, Google, Elon Musk or someone else have a ready-to-go rideshare startup just waiting for that moment, that is.


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## 232200 (7 mo ago)

Schmanthony said:


> If Lyft or Uber shut down... the other will have a monopoly. They will be able to exploit drivers with more impunity since there won't be another company to offer anything better. Unless Amazon, Google, Elon Musk or someone else have a ready-to-go rideshare startup just waiting for that moment, that is.


I’m well aware of how a monopoly works. It would be devastating to us drivers. I can make a decent living full time now. I would have to leave this if Lyft took over, or just work weekends and go get a regular job.


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## Frontier Guy (Dec 27, 2015)

Schmanthony said:


> Those differences are negligible. I guess if you're just taking base fares with no surge or promos you'd choose Lyft. But then the question would really be... why are you driving for base with no surge or promos?


Wrong person


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## Frontier Guy (Dec 27, 2015)

Daisey77 said:


> I get paid $0.05 less a mile and $0.01 less a minute on Lyft than I do on Uber. No shows also pay a minimum of $2.08 less.


Since Uber no longer publishes a base rate card for Denver, you can’t be positive if this.


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## mrwhts (May 16, 2021)

They are 100% gone from this area now.


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## Rideshare Dude (Aug 27, 2020)

mrwhts said:


> They are 100% gone from this area now.


What is “this area?”


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## Daisey77 (Jan 13, 2016)

Frontier Guy said:


> Since Uber no longer publishes a base rate card for Denver, you can’t be positive if this.


What are you talking about? Yes they do. Please see Picture below. regardless I know my pay rate. plus you can see it in the Fare details.


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## Frontier Guy (Dec 27, 2015)

Daisey77 said:


> What are you talking about? Yes they do. Please see Picture below. regardless I know my pay rate. plus you can see it in the Fare details.
> View attachment 662731


That looks like X rates, weird that I can’t get the rate card to show up


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## Daisey77 (Jan 13, 2016)

Frontier Guy said:


> That looks like X rates, weird that I can’t get the rate card to show up


Correct. Those are X- rates here for the vet drivers. Go into the website and click on fares


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## MiscreANT (11 mo ago)

So wait...Lyft's bullsh*t "pinky-swear"campaign didn't raise them to profitability? Anyone who invested in Lyft stock thinking their moronic management staff had even a fraction of a clue is getting exactly what they deserve.


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## FLKeys (Dec 27, 2018)

Daisey77 said:


> What are you talking about? Yes they do. Please see Picture below. regardless I know my pay rate. plus you can see it in the Fare details.
> View attachment 662731





Frontier Guy said:


> That looks like X rates, weird that I can’t get the rate card to show up





Daisey77 said:


> Correct. Those are X- rates here for the vet drivers. Go into the website and click on fares


Some cities are switching to upfront payments. As they transition it is starting with select drivers.

One driver in the same city may have a rate card and another driver may be up upfront payment and no longer have a rate card.


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## Frontier Guy (Dec 27, 2015)

BTW, here's comparison of offers for this week: Lyft 60 for 20 rides, $20 for 10, $5 rides and $30 for 5 rides, or I can do the $135 for 60 rides on Uber, hmm, let's see, I can knock out the 20 rides on Lyft with one tank of gas in one day, vs two or three tanks of gas over the course of an entire week on Uber. Given that I'm a casual driver, Lyft's promo makes sense.


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