Lyft lays off 17% of workforce, furloughs hundreds more

Re:Lyft lays off 17% of workforce, furloughs hundreds more by rvz on Wednesday April 29, 2020 @12:41PM (#23021182)

Lyft is in a much more worse position than Uber. Since Uber is in more locations than Lyft and Uber has Uber Eats and other services, I don't know how Lyft can justify its value.

One thing that's common is that they're both unprofitable and have both been racing to burn cash for years and unfortunately they are now making difficult cuts to save themselves. But the true picture will be revealed on May 6th in their Q1 earnings call.

EDIT: Q1 Earnings call on May 6th, not Q2.

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Re:Lyft lays off 17% of workforce, furloughs hundreds more by edmundsauto on Wednesday April 29, 2020 @12:58PM (#23021411)

I would interpret the evidence 180 degrees in the opposite direction. Wouldn't the increased footprint mean that Uber has more costs in less profitable areas? (It seems logical that Lyft would have pretty equal coverage in the profitable areas). And Uber Eats + other services hemorrhage money -- I read that Eats has something like a $1b/year burn rate, even leveraging much of Uber's other infra.

(Also, aren't Q2 earnings are usually in July?)

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Re:Lyft lays off 17% of workforce, furloughs hundreds more by nerdponx on Wednesday April 29, 2020 @01:02PM (#23021463)

Uber used to have higher prices (in my area) and a lower-quality UI. That's changed in the last year or so, especially now that Uber has all of the "ride safety" features that Lyft lacks.

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