Re:SoftBank’s losses reveal Masayoshi Son’s broken business ...
by lozenge on Monday August 29, 2022 @01:09PM
(#32640697)
That "marketing" budget is not going to billboards, radio spots and banner ads, it's going to voucher codes and driver "performance bonuses". It's just subsidies by another name.
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Re:SoftBank’s losses reveal Masayoshi Son’s broken business ...
by treis on Monday August 29, 2022 @01:23PM
(#32640880)
Again, just not true at all. Here is Lyft's financial statement:
https://investor.lyft.com/news-and-events/news/news-details/...
They have 875.5 million revenue against 440.3 million COGS and 126.3 million in Sales and Marketing. Even if every dollar of sales and marketing was a direct subsidy they're still taking in 308.9 million as gross profit. Or, in other words, they're taking 35% or so of fares.