Re:Lyft losing as much as $50M a month, president confirms
by freyir on Wednesday July 13, 2016 @12:46PM
(#12087609)
By this logic, you can say "We'll do X for rich people. Since there are so many millionaires, it's a $60B business" for just about any hare-brained scheme.
If Lyft is burning $50M/month driving me across town for $15, or me and two strangers for $5 each, how does substituting a person for a dress or a shaving kit or a bag of groceries suddenly make it hugely profitable?
And if this is the case, why isn't Postmates / Instacart/ etc. getting billions in VC money to expand and corner this underserved market? Why did all the courier startups immediately go belly up in the dot-com bubble last time around?
If Lyft is burning $50M/month driving me across town for $15, or me and two strangers for $5 each, how does substituting a person for a dress or a shaving kit or a bag of groceries suddenly make it hugely profitable?
And if this is the case, why isn't Postmates / Instacart/ etc. getting billions in VC money to expand and corner this underserved market? Why did all the courier startups immediately go belly up in the dot-com bubble last time around?