# GM selling its stake in Lyft: Report



## uberdriverfornow (Jan 10, 2016)

https://finance.yahoo.com/video/gm-selling-stake-lyft-report-203539743.html
poor tomatopaste &#128560;


----------



## tohunt4me (Nov 23, 2015)

uberdriverfornow said:


> https://finance.yahoo.com/video/gm-selling-stake-lyft-report-203539743.html
> poor tomatopaste &#128560;


G.M. probably needs the money.


----------



## Lowestformofwit (Sep 2, 2016)

🎼 "The captains and the kings depart....."


----------



## Jay Dean (Apr 3, 2015)

That stock is hot garbage, good luck getting rid of it


----------



## nonononodrivethru (Mar 25, 2019)

Lyft isn't keeping their end of the deal up. There was likely supposed to be a partnership of promoting GM vehicles. Now GM is saying, okay peace.


----------



## 5☆OG (Jun 30, 2019)

next headline is gonna read....rs operations to close permanently


----------



## IR12 (Nov 11, 2017)

tohunt4me said:


> G.M. probably needs the money.


GM dumped a ton of crappy cars on their "partner" Lyft then, GM CEO talked trash about Lyft publicly.. Two garbage companies.


----------



## DriveLV (Aug 21, 2019)

5☆OG said:


> next headline is gonna read....rs operations to close permanently


Any recent reporting on cash burn rate for either Uber or Lyft?


----------



## #professoruber (Feb 19, 2018)

Opportunistic = opportunity to minimize losses


----------



## Nina2 (Oct 6, 2018)

IR12 said:


> GM dumped a ton of crappy cars on their "partner" Lyft then, GM CEO talked trash about Lyft publicly.. Two garbage companies.


GM makes the worst cars ever I used to have a 2002 Silverado and it broke down all the time and had so many issues i had to trade it in
i then traded it in for a Toyota Tundra that i still own with 200k miles and no issues except for a power window going out that was covered by warranty


----------



## Devil’s Advocate (Jan 29, 2020)

uberdriverfornow said:


> https://finance.yahoo.com/video/gm-selling-stake-lyft-report-203539743.html
> poor tomatopaste &#128560;


They can see the writing on the wall.


----------



## CarpeNoctem (Sep 12, 2018)

Nina2 said:


> GM makes the worst cars ever I used to have a 2002 Silverado and it broke down all the time and had so many issues i had to trade it in
> i then traded it in for a Toyota Tundra that i still own with 200k miles and no issues except for a power window going out that was covered by warranty


Likewise with a 1990 Silverado. From the flaking paint to the numerous alternators and the constant ABS errors, it was the worst. Every subsystem had failed at least once before 90k miles.

I'm sticking with Ford. I have had very few problems with them. YMMV


----------



## itsablackmarket (May 12, 2015)

GM makes good looking cars, unfortunately they break apart within a year.


----------



## Funky Monkey (Jul 11, 2016)

Nina2 said:


> GM makes the worst cars ever I used to have a 2002 Silverado and it broke down all the time and had so many issues i had to trade it in
> i then traded it in for a Toyota Tundra that i still own with 200k miles and no issues except for a power window going out that was covered by warranty


Have you ever noticed the mind-blowing number of them that have one running light out? Problem dates back 20 years, never fixed. I'd be embarrassed if I was them


----------



## IR12 (Nov 11, 2017)

Funky Monkey said:


> Have you ever noticed the mind-blowing number of them that have one running light out? Problem dates back 20 years, never fixed. I'd be embarrassed if I was them


Remember when an embarrassing issue was enough for companies to do the right thing to protect their brand & people boasted about how great customer service was?

How many years ago was that???


----------



## Nina2 (Oct 6, 2018)

Funky Monkey said:


> Have you ever noticed the mind-blowing number of them that have one running light out? Problem dates back 20 years, never fixed. I'd be embarrassed if I was them


True GM has never fixed it and tons of the Silverados have it and even the brand new Silvarados have this issue


----------



## goneubering (Aug 17, 2017)

uberdriverfornow said:


> https://finance.yahoo.com/video/gm-selling-stake-lyft-report-203539743.html
> poor tomatopaste &#128560;


This makes sense. GM has their own self driving car division. They don't need Lyft.


----------



## Oscar Levant (Aug 15, 2014)

uberdriverfornow said:


> https://finance.yahoo.com/video/gm-selling-stake-lyft-report-203539743.html
> poor tomatopaste &#128560;


Dead canary, folks.


----------



## uberdriverfornow (Jan 10, 2016)

goneubering said:


> This makes sense. GM has their own self driving car division. They don't need Lyft.


lol GM can't even make a good regular car. You really think they can get a SDC to work ?


----------



## goneubering (Aug 17, 2017)

uberdriverfornow said:


> lol GM can't even make a good regular car. You really think they can get a SDC to work ?


I'm skeptical of ALL self driving car claims until they prove me wrong. I was just explaining why GM would sell their Lyft stock now.

https://www.cnbc.com/2020/02/05/gms-cruise-values-autonomous-vehicle-industry-at-8-trillion.html


----------



## Devil’s Advocate (Jan 29, 2020)

goneubering said:


> I'm skeptical of ALL self driving car claims until they prove me wrong. I was just explaining why GM would sell their Lyft stock now.
> 
> https://www.cnbc.com/2020/02/05/gms-cruise-values-autonomous-vehicle-industry-at-8-trillion.html


I think when it comes down to it, the auto makers have realized Uber and lyft are just apps. They can make their own app. They are the ones with the cars. The valuation of Uber and lyft are just a marketing stunt. There is nothing unique about them. They don't own or manufacture cars. The drivers aren't their employees. I'm sure the auto makers realIze these apps have nothing to offer them.
I'm sure the auto makers can make a better app. But remember they aren't retailers. There needs to be a middle man. They will probably off spin a company that will compete with Uber and lyft until they crush them. If they make the cars, they can offer the drivers the best deal. Uber and lyft are a fad. They made it seem sexy to drive for them, but the fad has worn off. If you say you're a ride share driver it's actually embarrassing. People immediately think you've hit hard times. They feel sorry for you. It's sad. 
Anyway, the biggest rat jumped ship. He got his money and left everyone else holding the bag. Wall Street didn't invest because they've already been through the dot com bubble and aren't going to get fooled again.
Neither of these companies have anything revolutionary to offer. They will be either gobbled up for their user/driver data or they will go bankrupt. They're both useless as far as any future.


----------

