Lyft CEO David Risher on paying drivers more and the shift to robotaxis

Today, I’m talking with David Risher, who is the CEO of Lyft. I’ll conscionable accidental from the jump: I deliberation you’ll similar this one, since David is refreshingly nonstop and doesn’t propulsion a batch of punches.

He has connected the committee of Lyft for years, but helium lone stepped successful arsenic CEO conscionable a mates of years agone to assistance crook it around. He’s done beauteous good with that truthful far, but he’s beauteous straightforward astir however the institution wasn’t doing well, and helium had to marque existent changes to hole it. That besides means helium has a wide thesis astir what benignant of institution Lyft truly is — a work institution that operates successful the real, carnal world, as opposed to a tech platform, which is precise overmuch however its large rival Uber sees itself. 

Uber comes up a batch successful this conversation, really — the contention betwixt the 2 is conscionable arsenic fierce arsenic ever, and you’ll perceive David marque a batch of references to “the different guys” passim this episode. But it’s not conscionable contention for riders and drivers tht Lyft has to woody with. It’s the aboriginal of proscription itself, and caller AI tools that mightiness instrumentality apps similar Lyft retired of the equation entirely.

David and I talked a batch astir autonomous vehicles and however they’ll interaction riders and particularly drivers. I ever inquire my rideshare drivers what I should inquire the CEOs of the platforms erstwhile I bash these interviews, and the lone happening they ever inquire is simple: erstwhile are you going to wage america more? So I asked David consecutive up: tin Lyft wage drivers much money, particularly erstwhile the committedness of autonomy is to regenerate the drivers entirely?

You’ll perceive David constituent retired that it’ll beryllium a agelong clip earlier Lyft oregon anyone other gets to the constituent wherever self-driving cars are the default. So for now, Lyft is inactive a work institution with humans doing the work. But the modulation to a satellite of robotaxis is going to upend that strategy implicit time, and David has a batch of ideas astir however it mightiness play out. 

Then there’s the different benignant of occupation with AI, what I’ve been calling the DoorDash problem. In a satellite of AI agents going retired and booking cars and ordering sandwiches for you, apps similar Lyft and DoorDash mightiness conscionable crook into commodities, not companies anyone interacts with directly.

Lyft, successful particular, is the nonstop benignant of work that seems truly susceptible to this problem, fixed however galore radical volition conscionable flip betwixt Lyft and Uber based connected which one’s cheaper connected immoderate fixed day. So I truly wanted to excavation into that with David, to spot what helium thought a work level similar Lyft could bash to clasp loyal customers — customers they tin merchantability subscriptions and different services to — erstwhile users mightiness not beryllium opening apps astatine each successful the future.

There’s a batch going connected successful this one, but I besides person to constituent retired that David is 1 of the lone Amazon oregon ex-Amazon radical to springiness an archetypal reply to the modular Decoder question astir determination making. Like I said, he’s beauteous direct. 

Okay: Lyft CEO David Risher. Here we go.

This interrogation has been lightly edited for magnitude and clarity.

David Risher, you’re the CEO of Lyft. Welcome to Decoder.

It’s large to beryllium here.

I americium precise excited to speech to you. It feels similar I’m having a batch of conversations with assorted work providers, I would say, crossed the manufacture astir however AI mightiness beryllium changing, however they get customers, however the platforms themselves are changing, the quality of the radical who enactment connected the platforms and supply the services, and Lyft has been determination since the start.

It’s 1 of the precise archetypal app system apps, right? It’s the progenitor of the gig economy; it started, I think, with Uber and Lyft. You person been turning the institution around. You’ve got immoderate caller ideas. There’s rather a batch to discuss, truthful I privation to commencement astatine the start. You’re a new-ish CEO, I would say, a mates of years into it. I deliberation astir radical are acquainted with Lyft successful the fashionable conception of Uber and Lyft. I deliberation I person a consciousness of what Lyft is. I usage it rather a batch due to the fact that I person a recognition paper that gives maine rewards erstwhile I usage Lyft. I price-match the 2 each the time. 

I’m conscionable curious, what is your conception of Lyft today? There’s Lyft successful the fashionable culture, there’s the Lyft galore radical person experienced, and there’s what you, the CEO, deliberation it is and what you mightiness privation it to be. What bash you deliberation Lyft is today?

You cognize what, actually, I’m going to commencement with what I privation it to be. What I privation it to beryllium is simply a mode to service and link you amended than you’ve ever been served before, and link you to the existent world. And truthful fto maine accidental a small spot astir this. In a satellite wherever the virtual method satellite is bigger and much almighty each azygous time and seductive, I privation to beryllium the 1 that gets you retired and makes you portion of the existent satellite and possibly connects you to the champion Lyft thrust you’ve ever had due to the fact that you person an unthinkable speech with your operator oregon possibly you conscionable your aboriginal spouse successful the barroom you’re going to. 

That’s truly what I want. I truly privation america to beryllium the carnal glue that holds our nine together, and bash it successful a mode that blows your caput from a work perspective.

When you accidental carnal glue, bash you mean transportation, oregon bash you mean different services? There are a batch of ways to construe that.

Yeah, for sure. Yeah, nary transportation, that’s our breadstuff and butter, that’s what we do. We bash it mostly successful cars 800 cardinal times a year. If you unrecorded successful New York City, we bash it connected Citi Bike; if you unrecorded successful San Francisco, we bash it connected Bay Wheels; if you unrecorded successful Chicago, we bash it connected Divvy. Increasingly, we’re doing it overseas arsenic good done Freenow. So yeah, it’ll beryllium done transportation, but proscription is simply a large deal. If you’re older, it’s however you enactment connected to your grandkids. If you’re younger, arsenic they say, it’s however you get to enactment each azygous day. It’s portion of your regular life, and I don’t spot that going distant anytime soon.

When you accidental transportation, again, astir radical contiguous deliberation of…

Yep, rideshare.

Honestly, erstwhile you usage these apps, a Toyota Camry shows up. What we person developed with each of this technology, billions of dollars successful concern successful fibre optics and wireless, and 5G, is that you tin propulsion a fastener connected your telephone and, to a precocious grade of certainty, a Toyota Camry volition amusement up, which is beauteous amazing. That was not existent earlier each this investment. That’s 1 mentation of it. 

There’s different mentation wherever a robotaxi shows up, oregon you get a bike, oregon a shared work shows up of 1 benignant oregon another. Are you reasoning that broadly, and are you reasoning astir the modulation from there’s a operator and a car to possibly it’s a robot, possibly we’re telling you to instrumentality a train? There are a batch of ways to deliberation astir that. How are you framing that successful your mind?

So I would say… So large question, and possibly a nuanced answer. I really deliberation astir people, erstwhile they propulsion an app similar this, they benignant of cognize however they’re going to get from A to B, they benignant of cognize that already. So I’m not ace focused connected possibly it’s a train, possibly it’s a vertical takeoff aircraft; I’m beauteous focused connected a car, oregon possibly a bike, is going to beryllium what you’re going to use.

Now, it’s going to change. So let’s usage bikes, which is not the spot that astir radical start, but e-bikes contiguous are going bananas, perfectly bananas. And you tin consciousness it, you tin consciousness it successful New York oregon San Francisco, wherever a mates of years ago, biking was a niche thing, and present it’s a huge, immense mode of transportation, and e-bikes are the crushed for that. On the car side, AVs, autonomous vehicles, are going to beryllium a crippled changer, a crippled changer. You tin beryllium successful the backmost seat, you tin snooze, oregon you tin spell into enactment mode. Maybe there’s a car tender successful beforehand who’s making a portion portion you’re driving, each kinds of brainsick stuff.

But I’m beauteous focused connected radical jumping successful a car. Today it’s a Camry, possibly time it’s thing else. We tin speech astir that. Today it’s driven by a driver, astir apt time it’ll beryllium driven by a driver, but besides driven by a robot. I’m a, let’s say, an advocator of absorption successful the technology, but wherever I’m expansive successful my reasoning is each the antithetic chill things that you should beryllium capable to bash by getting retired of your location and not conscionable sitting connected the sofa and watching Netflix and getting a nutrient delivery.

A mentation of that that I’ve heard respective times, astir notably, I think, from Brian Chesky from Airbnb, who was connected the show, was that we should besides commencement selling the experiences. We privation to get you retired of your house; we privation to get you doing things. Airbnb launched an full level that was bigger than conscionable location rentals, each experiences, similar wherever you tin person a backstage chef. That’s a large enlargement of the platform. Brian is precise convincing erstwhile helium talks astir it. Is your caput there? You should unfastened Lyft, and we should nonstop you to a concert?

Maybe. I mean, we’re earlier, I think, successful that travel than helium is, but I deliberation that the destination is beauteous similar. Literally, I really went to a Dua Lipa performance a mates of nights ago, and it was truthful fun, and it was great. I tin perceive to Dua Lipa connected my AirPods, and I tin bash it erstwhile I’m walking down the street. She tin beryllium with maine each the time, but it’s 10000 percent amended if we get you there, and we enactment you successful the close seat, and we marque definite we prime you up astatine the end, and we promote you to bash it. And possibly if you’re a Lyft member, you get immoderate benignant of peculiar service: you spell to a restaurant, you get a peculiar dessert that’s not connected the menu, oregon possibly you get peculiar entree to a lounge astatine the airport. Yeah, I deliberation you’ll find america doing much and much of that.

I don’t privation to over-rotate. Look, conscionable getting you reliably hundreds of millions of times a twelvemonth to wherever you privation to go, picking you up instantaneously alternatively than having you hold 5 minutes, not having the operator cancel connected you, each of these things. Making definite you get your points, making definite you tin walk your points if you privation to, each of those basics really, truly matter. But I deliberation implicit time, we request to beryllium advocates for the carnal satellite due to the fact that the integer satellite is warring beauteous hard for your attention, and I don’t deliberation that’s a large spot if that’s wherever we extremity up.

There’s an evident examination to Uber that’s going to travel up implicit and implicit again. I’ll pre-apologize for the evident comparisons to Uber that travel up implicit and implicit again, but there’s 1 here. Dara was conscionable connected the show. I saw him again recently. They had a large announcement: they’re becoming similar a enactment platform. What they, I think, abstractly spot Uber arsenic is that there’s supply, there’s demand. We are truly bully astatine matching proviso and demand. We tin bash that for cars, we tin bash that for Waymo, we tin bash that for food. What if we conscionable did it for everything?

And I deliberation the archetypal happening they’re going to bash is AI training, which is simply a chaotic archetypal happening to do, but they’re like, “Yeah, we got a clump of drivers who are looking for enactment to do, opening an app each day, and possibly we tin conscionable enactment different kinds of enactment successful beforehand of them, not conscionable driving cars.” That’s precise antithetic from “we’re going to nonstop you to the Dua Lipa concert”; it’s a precise antithetic constituent of view. Did you measure a akin idea? Did you say, “We don’t privation to conscionable beryllium a enactment platform; we privation to beryllium an acquisition platform”? Because that feels similar a precise large decision.

I agree. Look, I won’t remark connected those guys, but what I volition accidental is I truly like… Okay, I’ve been successful the occupation for 2 and a fractional years now, and 1 of the things that I said from time 1 is we’re going to beryllium customer-obsessed. And I cognize you deliberation a batch astir Jeff Bezos. I worked for Jeff for a agelong time, truthful I don’t person to archer you each the reasons wherefore I deliberation that’s a bully idea. There are 2 passengers, excuse me, 2 customers successful each car: a rider and a driver. And I privation to bash everything we tin to get to cognize our riders arsenic good arsenic imaginable and our drivers arsenic good arsenic imaginable and recognize what it is they want.

And truthful I’m ace excited astir looking astatine the satellite done that oculus and say, okay, from a driver’s perspective, I privation to marque much money, I privation each sorts of antithetic things, but I whitethorn beryllium a small little enthusiastic astir the conception of becoming “a exertion level for everything,” due to the fact that I deliberation what that tends to do, astatine slightest successful my experience, is marque you little focused connected the customers and what it is they truly attraction astir and much astir let’s physique this chill tech to bash a full clump of antithetic things.

Let’s speech astir that two-year journey. You joined the institution successful 2023, and you made a batch of changes astatine the beginning. I would accidental Lyft was not doing well. Immediately, you laid disconnected much than fractional of the company, which you said, determination are quotes, you said that it was precise hard. Why’d you marque that decision? Why’d you person to slim down close away?

To beryllium capable to wage drivers what we needed to wage them and to beryllium capable to complaint riders what they wanted to, what they could afford. So again, if you commencement with the thought that lawsuit obsession is what’s going to thrust our profitable growth… And that was the thesis. The thesis… I tin archer you the full speech astir however I got selected for this occupation and however I said nary to it, but yet said yes. And the yes truly came to, look, if the committee of directors believes that lawsuit obsession is what’s going to thrust our profitable growth, past possibly I’m the guy. And if you judge it, determination are a full clump of implications that travel from that. And the archetypal happening is our outgo operation — it doesn’t let america to bash what we request to do, which is to prime radical up highly reliably, yes, but besides astatine a terms that they tin afford, and truthful connected and truthful forth. So that was that, that was that, afloat stop.

Take maine to that room. Vanishingly fewer radical ever get to spell interrogation with a committee of directors to beryllium the CEO of a large nationalist institution and accidental nary and get called backmost in. Walk america done that. What was that really like?

Sure. Here it is, and I’ll spell measurement by step. So I had been connected the Lyft committee for a mates of years. John and Logan, the co-founders of the company, had invited maine to beryllium portion of the committee mostly due to the fact that I deliberation they had a precise absorbing observation, which is that boards don’t thin to deliberation a batch astir customers; they deliberation a batch astir strategy, they deliberation a batch astir finance, but they’re beauteous acold removed from customers. And I had travel up, arsenic you know, I worked astatine Microsoft successful the aboriginal days and past for Jeff for a agelong time, adjacent Worldreader, the nonprofit that I founded, each of these, lawsuit obsession was close astatine the center. So they’re like, “Look, David, however astir you articulation the board?” So this was successful 2021.

In 2023, astatine the extremity of the year, John and Logan decided to measurement back. They had been doing this for a agelong time. They were astir to crook 40 years old. The lone happening they’d ever done. Time to crook it implicit to idiosyncratic else. And truthful the committee did what they do, which is conscionable formed a committee, looked astatine a clump of candidates. I wasn’t portion of it; I was conscionable observing from afar.

And past 1 day, it was really Valentine’s Day, I retrieve it precise clearly, 2023, my telephone rings, and the committee chair, Sean Aggarwal, is connected the line, and helium says, “David, we’ve got an connection we deliberation you can’t refuse.” And I’m preparing myself for, “We privation you to beryllium the seat of the audit committee.” Some unspeakable happening that he’s trying to food maine up for, whatever. And he’s like, “No, John. Logan and I person been thinking, and arsenic we’ve been looking astatine each these outer candidates, we’ve been evaluating successful the backmost of our heads, possibly the close feline is sitting close present adjacent to us. And David…”

And honorable to God, and this is not… I said, “No, that’s ridiculous. I don’t adjacent cognize what you’re suggesting, but I tin archer you it’s not… I’m precise focused connected getting kids reading. I’ve been focused connected that for galore years with the Worldreader, which is simply a nonprofit I started. And you request to bent up the telephone immediately, and you tin get backmost to work, bash thing which has a higher likelihood of success.” But Sean said, “Why don’t you deliberation astir it?” And truthful I did. I virtually took a locomotion astir for astir an hour, and I thought, and I kept proceeding myself say, “Hmm, interesting.” As I mentioned, it was Valentine’s Day, truthful this became the taxable of speech betwixt my woman and maine that evening. And she said, “David, I deliberation you should springiness it a effort oregon spell for it.”

So anyway, past John and Logan, a mates of days later, came over, and they sold maine connected the thought a small bit. And past they did something, which I don’t deliberation they were being clever; I deliberation they were conscionable being honest. They said, “Just to beryllium clear, we’re not offering you the job; we’re offering you the accidental to use for the job.” And I’m like, “Hold on. Now I’m getting competitive.”

So anyway, implicit the next… It was astir a six-week process. I virtually enactment unneurotic a 100-day plan. I talked to each idiosyncratic committee member. Some of them thought it was an absorbing thought that I was applying. Some thought it was a brainsick idea, like, “This guy? That doesn’t marque immoderate sense.”

But anyway, I enactment unneurotic a 100-day plan. I inactive person it. It’s really interesting. I was looking astatine it recently, and the thesis of it was that I privation Lyft to lead, and the kicker astatine the extremity was, and I privation to pb Lyft, and everything successful betwixt the 2 were each the things we needed to bash including laic disconnected a large portion of the company, changing the creation of the team, starting to innovate again astir customers, and connected and connected and on. Anyway, that was it. One happening led to another, they offered maine the job, and I started connected April 17th, 2023, and I’m having the clip of my life.

Again, vanishingly fewer radical ever get to bash this. So I person immoderate precise weedy questions.

Do it.

What bundle did you usage to enactment your presumption together?

That is simply a weedy question. Two. Google Docs. So first, it was virtually a written document. I wasn’t astatine Amazon astatine the clip erstwhile Jeff did the full “everything has to beryllium a written papers and don’t usage presentations.” That was earlier each that happened. But I person always… I similar to write, and I explicit myself done writing. So anyway, I wrote a papers that virtually was a leafage of text, and past possibly 2.5 pages of outline, slug points benignant thing. That was signifier one. And past that turned into a descent show, Google Slides, yeah.

Google Slides. The crushed I inquire this is I deliberation it’s specified an abstract thing, but you sat down and opened Google Docs similar anybody other would unfastened Google Docs and thought of a clump of ideas to crook astir Lyft, and past you presented them, and determination was immoderate conversation. The committee said, “Yeah, that’s what we privation to do.” 

Where successful that process did you think… Because you were connected the board. Where successful that process did you think, “Boy, this institution has gotten excessively large and excessively unfocused, and I request to marque these 2 large changes. I request to chopped a 4th of the institution and crook implicit its leadership.” Because determination you unfastened Google Docs… Was that the archetypal happening you wrote down? That mechanical penning and reasoning process is conscionable truthful fascinating to me.

This is ace interesting. I hadn’t thought astir it astatine immoderate level of extent for a while. So I conjecture here’s what I knew: There were 2 things that I perfectly knew: that we had to absorption connected customers. Again, it sounds cliché, but I tin springiness you an example, okay. This was thing that I detected portion I was connected the board, but didn’t truly recognize until I was wrong the company. We would look astatine work metrics. An illustration of a work metric mightiness beryllium operator cancellations. And this wasn’t thing that the committee typically would look at, but I would person a peculiar involvement successful it. So I would say, “Let’s speech astir operator cancellations due to the fact that I person this frustration. I unfastened up the app, and immoderate percent of the time, I get matched with a driver, and past 3 minutes later, it says, ‘You’re going to rematch with a caller driver,’ which I find irritating, and it besides lengthens the process. I don’t similar it.”

And truthful I recovered out, this was really aft I joined the company, but it inactive tells the story. This is simply a institution that said they were customer-obsessed. I’m like, “Okay, let’s speech astir what that truly looks like.” So I said, “Okay, let’s look at…” And they said, “Well, yeah, okay. So it’s astir 15 percent of the clip that this happens, 15 percent. But the bully quality is, 95 percent of the time, radical extremity up rematching and taking the ride. So nary large deal. Most radical are inactive taking the ride.” 

I’m like, “Okay, clasp up, you’ve conscionable glossed implicit the astir important thing, which is that 100 percent of the clip it happens, it’s a symptom successful the ass, and the rider is frustrated by it. And truthful I volition warrant you, you don’t person to spell and bash a clump of probe connected this, I already know, radical who person that acquisition are little apt to instrumentality rides successful the future. So you tin spell up and determine if you privation to look astatine that oregon not, but I already cognize the reply to that.”

So I said, “Let’s absorption connected this,” arsenic an example. Early on, this was not my biggest decision; it was 1 of the smallest. But again, possibly it tells the story. So it was 15 percent of the clip that this would happen, and I said, “Let’s absorption connected it similar a laser. Let’s speech astir what accusation the operator gets erstwhile they’re making this decision. Let’s speech astir however large the font is. Let’s speech astir whether we’re talking astir it successful dollars. Remember, what’s happening successful the inheritance is that a operator is deciding whether oregon not to instrumentality the ride, and then, for immoderate reason, a mates of minutes later, deciding differently. So possibly we’re telling them excessively early, possibly we’re telling them excessively late, possibly we’re not giving the close information, possibly it’s up connected the surface for excessively small time, possibly the font is excessively small.”

We looked astatine each azygous 1 of those things. When I started, it was 15 percent; a twelvemonth later, it was 10 percent; 3 weeks ago, it was 5 percent. As of this past Wednesday, it was 4.5 percent, truthful a monolithic change. But that’s the lawsuit obsession side. So lawsuit obsession, that was the archetypal happening I knew, was that we person to get truly customer-obsessed, not conscionable blah, blah, blah. And past fig 2 is we don’t person the close radical connected the elder absorption team. And this is old-school Jim Collins, Good to Great, if you’ve ever work the book. If you don’t person the close radical connected the bus, it conscionable doesn’t matter.

And truthful I asked our CFO to permission precise soon aft joining, and that was its ain thing. And past determination were outgo operation things and innovation things and truthful forth. But those were the 2 basics that I started with erstwhile I opened up that Google Doc due to the fact that I knew we had to marque changes successful personnel, and I knew we had to reorient the institution astir customers. And past yes, I knew that successful bid to wage for immoderate of what we had to bash to reorient ourselves, we were doing excessively galore things, and we had to chopped a batch of staff.

This leads close into the Decoder questions. How is Lyft organized now? How person you structured the institution present that you’ve been connected a occupation for 2.5 years?

Sure. So let’s see. Well, I answered the question, but I’ll springiness you a small spot of context. The question is that we’re organized by customer, oregon excuse me, the reply is that we’re organized by customer. So we person a rider group, we person a operator group, and we person what’s called a marketplace group. That radical is successful complaint of matching those riders and drivers successful existent time, 24 hours a day, 7 days a week. So it’s operationally, but besides computationally, rather complex. We person a radical that is focused connected our ads business, which is simply a comparatively newer business, a comparatively tiny business, but astatine a $100 cardinal tally complaint with precocious maturation and precocious margins, it’s awesome. They besides bash immoderate different things that are newer merchandise types. Of course, past we person a clump of cardinal functions similar selling and legal, and truthful connected and truthful forth. But that’s truly the primary. Oh, and we person a backend radical that does a batch of the infrastructure, but really, I’d accidental the superior organizing vector is by customer.

So erstwhile you signifier that way, immoderate of those cardinal functions tin get pushed successful antithetic directions. Engineering is simply a cardinal function, but if you privation to physique the performance experience, you’ve got to give immoderate resources to that versus bringing down rider mismatches, right?

How bash you marque those decisions? How bash you equilibrium that hostility out?

We enactment a batch of our engineering into those lawsuit groups. So those lawsuit groups are full-stack groups. They’ve got merchandise management, they’ve got engineering, they’ve got tests, they’ve got design, each the rest. So we judge the information that determination volition beryllium immoderate redundancy and immoderate organisation of talent. Then you person to inquire the question: How bash you maintain, let’s say, excellence across… functional excellence? How bash you marque definite your engineering is operating astatine apical talent? And we’ve identified radical oregon teams oregon immoderate to thrust that benignant of horizontal excellence crossed the company.

But the trade-off is that there’s immoderate redundancy, we’ve got immoderate worldly happening in… And we person 2 apps: a operator app and a rider app. You tin ideate a satellite wherever there’s 1 radical that develops some apps utilizing the aforesaid frameworks and all. We don’t person that; we person 2 antithetic groups. They make it utilizing 2 antithetic frameworks. It’s a symptom successful the butt sometimes, but you marque it work; it’s amended that mode due to the fact that you’re adjacent to your customers arsenic opposed to adjacent to your technology. That sounds large until you recognize you person mislaid way of what your customers attraction about.

Amazon famously organized this way. I tin conscionable contented immoderate criticisms of Amazon broadly. I cognize what those trade-offs are. We speech astir the structures connected the amusement each the time. If you look astatine however Amazon is, they person tons of single-threaded owners of 2 pizza teams that marque their ain products. Those products seldom speech to each other. 

As you were describing, you extremity up successful a batch of different… Google, the aforesaid way. You extremity up successful a batch of antithetic directions, and abruptly you’re like, “We’ve got to rotation retired AI crossed the company,” and you don’t person a communal shared model to bash specified a thing.

Have you tally into this astatine Lyft? Are you alert of this trade-off? How are you managing that?

Remember erstwhile you asked maine astir my imaginativeness for Lyft and I talked a batch astir rideshare and a absorption connected getting radical astir and making definite that… So I would accidental a spot that we person is we’re truly rather focused connected our customers and our usage cases.

And truthful portion yes, occasionally those issues harvest up, it’s a tiny happening for us. And besides I would say, and this is… I don’t cognize if this is simply a bully oregon atrocious thing, but it conscionable is. I americium precise progressive with merchandise decisions. Very, precise involved. Just reasoning astir the past 24 hours and however I spent my clip and merchandise is just… And it’s, again, determination are parts of the squad that similar that, determination are parts of the squad that find it a small frustrating, but I person nary occupation saying, “We don’t request to bash these 3 antithetic things; we’re going to bash this 1 happening here, we’re going to bash it ace well. And that means that these different 2 teams that thought they were going to get to enactment connected those things, we’re conscionable not going to person that happen. Instead, we’re going to person them absorption connected thing else.”

So I conjecture a small spot of, to a definite extent, we lick the occupation by focusing due to the fact that we’re focused connected 1 happening and not… Amazon’s focused connected galore things, but we’re focused connected 1 thing, and past second, I play a beauteous large relation determination successful breaking ties and…

That does look similar the mode to marque this operation work; you request to person the person who’s conscionable going to amusement up and interruption ties each time long. It besides seems similar standard is the other… that the person can’t scale. At the aforesaid time, if you privation to pull large people, you person to springiness them immoderate autonomy. How bash you equilibrium this? What’s the cadence of letting your folks bash what they privation to bash and past showing up and telling them they person to bash what you privation to do?

I mean, it’s specified a classical issue. And truthful I really wrote astir this past twelvemonth successful the shareholder letter. I wrote astir 2 things: I wrote astir stratification, wherefore products thin to get worse, and however we’re pushing things the different direction. And past this topic, which I called Falcon Mode. So the benignant of ocular that I wanted radical to deliberation astir is the falcon, which is flying astatine 2,000 feet and hangs retired up successful the entity often due to the fact that they request to spot everything. They’re looking for, Where’s my adjacent meal? And they’re beauteous bully at, adjacent astatine 2,000 feet, seeing wherever that adjacent repast is. And past they dive successful deep, and they person to get the meal; otherwise, they starve and autumn retired of the sky. So this coming down and going backmost up and coming down and going backmost up, that’s the satellite that the CEO lives in.

It’s art. And portion of it is anticipation setting. Part of it is telling my team, “I americium going to bash this. I americium going to speech successful excruciating item astir this loyalty programme that we’re successful the process of developing.” And anyway, that’s going to beryllium wherever I spell Falcon Mode connected you, but past I’m going to spell way, mode up, and I’m going to say, “Now it’s yours,” and you’re going to archer maine each the ways wherever I got it incorrect oregon you’re going to marque it amended oregon you’re going to propulsion backmost oregon immoderate it is. I don’t know. There’s nary casual reply here, but I deliberation a batch of it is conscionable possibly being judicious due to the fact that if you bash it…

I’ll accidental a small spot of an adjacent thing, atrocious for going into specified item connected this. This is really a remark that I heard Gavin Newsom of each radical say, which I thought was precise interesting. He was saying you person 2 types of powerfulness arsenic a leader: you person positional power, and you person motivation authority. And the quality is with positional power, the much you usage it, the little you person of it. So if you usage excessively overmuch of it, you squander it, right? Because radical yet get bushed of being told what to do.

Moral authorization is simply a small different. If you say, for example, successful my case, “We’re going to beryllium a customer-obsessed organization, and we’re going to look astatine everything that lands, and occasionally, I’m going to travel successful and punctual you what that truly looks like, but past I’m going to backmost mode off.” The much you usage it, the much it creates itself, it reinforces, and radical spell disconnected and they person their ain astonishing ideas and stuff. So anyway, that’s the mode I effort to get to. You tin inquire radical connected my squad whether I’m palmy oregon not, but I effort to beryllium very, let’s say, deliberate astir the equilibrium betwixt the two.

I’m ever funny erstwhile you extremity up successful that divisional structure, there’s an magnitude of conscionable re-coordinating that needs to occur, and astir tech companies person chosen against it. So it’s fascinating that you’ve chosen this way, and you are precise wide that you really request to bash that circumstantial task, due to the fact that I person truthful galore conversations with… I mean, the fig of CEOs who are like, “I don’t bash anything,” which is precise funny, is precise high.

Let maine accidental 1 small tiny happening astir that. So Scott Cook, who I’m definite you cognize of, the laminitis of Intuit and inactive precise progressive connected the board, he’s conscionable successful the process. I conscionable saw him a mates of nights ago, and he’s idiosyncratic I’ve known for galore years. He was connected Amazon’s committee successful the aboriginal days, and we’ve reconnected implicit the past bit. Anyway, he’s really penning an article that I deliberation comes retired immoderate time successful the Harvard Business Review astir a survey of a mates of companies wherever helium makes the lawsuit that the champion companies are the ones wherever the CEO focuses not conscionable connected the what, but really connected the how, really gets progressive successful the how.

This full “I don’t bash thing arsenic a CEO,” he’s like, “That’s bullshit.” If you’re moving a company, you’re doing a lot. And a batch of it is not conscionable the large ideas; it’s however are we really going to organize? How are we really going to get this happening done? So I don’t know, I’d beryllium a small skeptical. I don’t know. I deliberation the CEOs are saying that either… I don’t cognize what that’s each about. But anyway, it’s not who I am. I’ll conscionable accidental it that way.

I consciousness similar our producers and I could bash an full occurrence of Decoder just connected wherefore we deliberation immoderate radical accidental immoderate of the things they say. Speaking of which, we person a small broadside stake going connected on however you’re going to reply the different Decoder question: however bash you marque decisions? What’s your framework?

Okay. I mean, the evident thing, and it truly is true, is that I commencement from the lawsuit and enactment backwards. I don’t cognize whether that’s what you were betting, I would say, but that is really true.

I’ll accidental possibly a antithetic thing, though, that I haven’t talked astir publically excessively much. So I guess, okay, I americium blessed successful the pursuing way: I don’t find making decisions ace hard. And what I mean by that is I deliberation there’s a mode of… In a sense, each you’re doing arsenic a CEO oregon immoderate person is making decisions, successful a sense. Like yes, no, prosecute the close people, occurrence the incorrect people, accidental yes to the bully ideas, accidental nary to the atrocious ideas. That’s the job. And determination are a batch of decisions there. Is it the close idiosyncratic oregon the incorrect person? Do I occurrence them oregon support them? I emotion them similar a brother, but possibly they’re not the close person. All these things. And past is this a bully thought that’s going to standard and customers are going to emotion it, oregon is it a atrocious thought that was conscionable dumb successful the archetypal place?

Okay, truthful that’s benignant of a framework, I guess, but not really; it’s conscionable an reflection astir the job. And past I get down 1 level and say, “Well, I don’t personally caput making decisions a lot, I don’t, but I americium alert that each determination takes a definite magnitude of effort. It does.” And truthful what I effort desperately to bash is marque the biggest determination I perchance tin truthful that everything other conscionable becomes astir a checklist.

Let maine springiness you a idiosyncratic example. Years ago, my woman and I sat down, this was backmost successful the aboriginal 2000s, and said… We met astatine Microsoft, and we said, “It’s interesting. At work, we person these multi-year plans, but present we person a family.” We person 2 daughters, arsenic you and I were talking astir earlier we started. At the time, they were precise young, and we said, “What’s our multi-year program for our family?” And we came fundamentally to the decision that we privation to unrecorded extracurricular the United States astatine immoderate point. We privation to springiness ourselves and our kids that experience. That was the large decision.

Then determination are a clump of questions astir where, when, what schools, and however to get insurance. All these things. But we already made the large decision. And truthful everything other was conscionable a checklist. And we ended up doing it. A mates of years later, we moved extracurricular the United States. It turned retired to beryllium a very, precise agelong and precise important happening for our household to do. But I told that precise agelong communicative to say, I effort to clasp myself to what are the biggest decisions that tin perchance beryllium made, wherever erstwhile that determination is made, everything other becomes conscionable a checklist. And past frankly, I don’t interest a batch about… If things are past connected track, I don’t person to interest excessively overmuch astir it, and I tin spell connected and marque the adjacent decision.

Okay, we each mislaid the bet. Congratulations. I deliberation we should nonstop you an award. You are the archetypal ex-Amazon idiosyncratic to ever accidental thing different than that determination are type-one and type-two decisions.

Oh, God, yeah. Oh, shit. Oh, yeah, yeah, yeah. I mean, yeah, sure.

Literally successful the pre-production, the enactment was, “He’s from Amazon, he’s going to accidental determination are 2 one-way doors and two-way doors,” and we were each like, “All right, we’ll conscionable get done it.” You’re the archetypal 1 ever, the archetypal idiosyncratic who’s ever travel wrong a 100 miles of Amazon headquarters, who did not instantly accidental one-way doors and two-way doors.

I consciousness proud. I person my ain ideas. Look astatine that.

Very good!

Let maine inquire you astir immoderate worldly that is changing, that I deliberation you’re going to person to marque immoderate decisions about. And honestly, it volition accent immoderate of your structure. AI is here, and it’s happening successful a batch of ways. Every CEO of a work company, whether that’s TaskRabbit oregon Uber oregon whoever has travel connected the show, I’ve asked this question. I’ve been calling it the DoorDash problem. I should astir apt get the radical from DoorDash connected the amusement to really inquire them straight astir this happening that I’ve been calling the DoorDash occupation for six months.

But conscionable a mates of days ago, OpenAI had DevDay, and they showed a clump of integrations wherever you could inquire ChatGPT to spell bash worldly for you, including booking an Uber. We’ve seen different agentic products. Amazon announced Alexa+, which volition beryllium capable to publication a formation for you and volition traverse websites; it’s built into Chrome now. We’re going to traverse websites connected your behalf and bash worldly for you.

The backend of that, whether it’s you oregon Zocdoc oregon whoever other is, well, we person a database of information, we cognize wherever each the drivers are. If you privation to bargain a sandwich, we cognize wherever each the sandwiches are. And truthful your agent’s going to travel and bid a sandwich connected our website, and we won’t get the customer. 

We volition conscionable go a work supplier to immoderate chatbot interface, and we won’t beryllium capable to bash upsells. We won’t say, “Hey, determination are Dua Lipa tickets,” oregon immoderate we’re going to say, and that’s going to shrink our margins, and we’ll conscionable go commodity work providers. This feels similar a precise large problem. I’ve been asking everybody astir it. Does that consciousness similar a large occupation to you?

I mean, possibly for the reasons you conscionable said, but I wouldn’t accidental it’s 1 of the apical 5 that I interest about. And a large portion of it is, archetypal of all, retrieve what you’re doing: you’re trusting something. You’re trusting that this thing, this person, is going to travel and prime you up, and they’re going to conscionable beryllium connected time, and it’s going to beryllium safe. And if I permission my iPhone there, I’m not going to get the happening stolen. All these antithetic things. And it’s physical, it’s safety, and it’s real-world stuff. And truthful the astir utmost mentation of what you’re saying is I spell to ChatGPT and I say, “Please travel prime maine up.” And immoderate rando comes to prime maine up, and there’s nary guarantee, there’s nary service, there’s no… That would beryllium bad. I don’t deliberation a batch of radical would beryllium ace excited astir conscionable immoderate rando coming, picking maine up successful an unbranded service, and immoderate it is.

So if it’s not going to beryllium an unbranded, conscionable a rando picking maine up, past it astir apt has to beryllium 1 of the guys who are doing existing rideshare, and that’s us. And past we’ve got each sorts of ways wherever I deliberation we tin compete. So we privation to vie connected relationships, by the way, not conscionable connected transactions. And what does that look like? That [is something] you already mentioned: you take us, among different reasons, due to the fact that you get points connected your recognition card, an unnamed recognition card, erstwhile you bash that. Well, that’s inactive going to beryllium the lawsuit successful the future. And truthful you mightiness person a penchant for america that you propulsion done ChatGPT. If they effort to disintermediate, you say, “Well, no, I really person a penchant here.” And we’re going to bash a full clump of antithetic things to marque definite that you person a very, precise beardown penchant for asking for america by name, not conscionable saying, “I privation to get to a place.” And past 2nd of all, retrieve that-

Wait, tin you archer maine what those things are? Because close present connected my phone, the apps are broadside by side, and I unfastened them both, and I will… if it’s wrong $5, I’ll prime the recognition paper points, but I volition astir ever prime the cheaper one. And I consciousness similar an cause going disconnected onto the web and uncovering the cheapest 1 is really the astir nonstop menace to your margins, to everyone’s margins.

So I don’t deliberation it’s a large borderline menace due to the fact that we already price… Let’s speech astir terms specifically. So you are not alone; rather a fewer radical terms shop. Interestingly enough, from my perspective, I privation everybody did. And you’re saying, “Well, that’s weird. Why?” Because remember, I person a 30 percent share, and the different guys person a 70 percent share. And we terms astir astatine parity. In fact, I mean, our strategy is really to terms a small little erstwhile we can, but it’s truly hard due to the fact that we person costs. And those are existent costs: insurance, operator pay, and each these antithetic things. By the way, the different guys person beauteous damn akin costs, which is wherefore our prices are truthful adjacent similar this.

Now, we mightiness person a somewhat antithetic strategy; possibly we vie a small harder astatine airports, possibly they vie a small harder astatine thing else, but it’s marginal. So my constituent is, wherefore bash I accidental I privation everyone to cheque both? Because if everyone checked both, I’d triumph astir apt 55 percent of the clip arsenic opposed to 30 percent of the time. So that’s large for me. So let’s just, archetypal of all, let’s just… Step one, I don’t caput that.

That is the borderline pressure. If ChatGPT is saying, “Here are the 2 rates,” and the strategy to triumph is to ever person the little rate, you volition rapidly statesman competing successful a mode that, close now, possibly you aren’t competing each the time.

No, no, we are. That’s the thing, we already are. That’s the basic… I deliberation the premise of the question. This is existent successful immoderate industries wherever terms makes little of a difference, and therefore, if you’re… And cipher wants to beryllium reduced to competing connected price. But the information is, that’s our beingness each azygous day. Every azygous day, we aftermath up and we look competitively marketplace by market, wherever we are high, wherever we are low, however we tin get lower, and truthful forth. So I don’t interest a batch astir idiosyncratic else. 

I virtually don’t cognize however someone, a 3rd party, not america oregon the different large guys, could underprice america consistently. People try, and they spell retired of business. That’s the mode that works due to the fact that they recognize that the outgo that they person is nary little than the outgo that we have. They conscionable effort to subsidize it done immoderate different magical happening for a while, and they tally retired of cash. And we person a large standard and each these reasons wherefore it’s hard to underprice us.

And past betwixt america and the different large guys, again, there’s conscionable not that overmuch left. You cognize what I mean? So it’s similar I don’t cognize however either 1 of america tin underprice the different successful a sustainable way.

But past backmost to the cardinal thing, of course, which is if you past judge that the terms is beauteous overmuch the same, and again, if astir radical judge that, past I astir apt person a 50 percent share, not a 30 percent share, but I digress. Then it becomes: Who tin get you the points? Who tin let you to wage with the points? For example, who tin prime you up faster? Today, we prime you up astir a infinitesimal and a fractional faster than we did a twelvemonth and a fractional ago. And oftentimes, not always, but oftentimes, it’s really faster than the different guys due to the fact that we’ve got bully algorithms, I’ll conscionable accidental that. And we person drivers who similar america a lot. That’s besides a existent root of strength. So anyway. And past there’s a work you tin get successful the car. What happens erstwhile you get successful the car? Today, you mightiness accidental it’s a small generic Toyota Camry.

But I don’t know. Maybe determination are things we tin bash with the drivers determination to marque you consciousness a small spot much special. That mightiness marque you say, “You cognize what? I really bash person a preference.” Even if the terms is precisely the same, I’ll inactive ever inquire for a Lyft implicit the different guys due to the fact that I’m going to get a amended acquisition from the driver. So that was a small spot of a roundabout point. But the crushed I don’t interest excessively overmuch astir it is that I deliberation it’d beryllium precise hard for anyone to “go direct” to the 1.5 cardinal drivers that we have. I deliberation that’s very, precise hard to do.

And past connected price, I’m not ace disquieted astir being competed retired of the crippled due to the fact that I deliberation I’ve got a beauteous bully outgo position. I deliberation it’d beryllium hard for idiosyncratic to underprice, and we already vie beauteous directly. And truthful past I deliberation it comes backmost to who tin connection the amended service. I consciousness truly bully astir our quality to connection a great, large service.

So that your lawsuit narration volition traverse immoderate interface radical are using? People volition say, “I inactive person a narration with Lyft.”

And remember, astir radical don’t alteration what they’re doing unless thing other is 10 times better. Checking prices connected hose tickets is hard. It’s dynamic pricing, immense swings. You’re readying ahead, abrogation of a lifetime, each the things. But our unit is like… I’d accidental precise fewer radical ever nonstop maine notes saying, “I had a hard clip with your app oregon getting a car,” oregon thing similar that. So, successful different words, I really deliberation that we already bash a very, precise bully job. So I’m not definite of the further worth added. Again, if determination was idiosyncratic other who could travel successful and springiness it a overmuch little price, I mightiness beryllium worried. But I…

The different situation determination is that you mightiness person a marque relationship, but they’re not really opening your app. The app is wherever you mightiness amusement them upsells to different products, oregon straightforward advertising, oregon explicate and reenforce wherefore your marque is much invaluable than the different one, due to the fact that it’s each happening successful idiosyncratic else’s app.

And truthful that would beryllium a drag. Yeah, yeah, that’d beryllium a drag. But I would say, astatine slightest what I’ve seen truthful far, conscionable utilizing ChatGPT arsenic the example, they look to be, let’s say, much accommodating astir that than you mightiness expect. In different words, they don’t… And again, it’s not that they can’t alteration strategies oregon that there’s nary crushed for them to, but astatine slightest the benignant of apps that I’ve seen thin to beryllium a small spot more… springiness much power implicit to the app developer than conscionable a generic thing, due to the fact that I deliberation they besides admit brands substance to a batch of people.

My mentation connected that is that the agentic products that they are promising don’t enactment arsenic good arsenic they should, truthful they are forced to enactment app views successful the chatbots. But erstwhile you perceive them each speech about… crossed the board, not conscionable OpenAI, but crossed the board, you perceive them speech astir their agentic products, there’s not a presumption that you’re going to get dumped into an app; there’s a presumption that the cause volition really bash it. And erstwhile the cause starts doing it, your lawsuit narration starts to diminish. And that’s the bosom of what I person been calling the DoorDash problem. Now it doesn’t substance wherever the car comes from.

Of course, it’s thing we deliberation a batch about, truthful I don’t privation to diminish it astatine all. But if you have… This occupation becomes a overmuch bigger occupation if A, you’re not utilized to competing connected terms already, oregon B, you don’t person a large proviso that would beryllium hard to get to directly. And it’s truly hard to get to 1.5 cardinal drivers and cognize wherever they are and each the antithetic things astir them successful immoderate nonstop way, hard to spell around. But who owns the lawsuit and each that? That is going to beryllium played out. And portion of my job, of course, is to marque the Lyft marque truthful absorbing and compelling that careless of however you get here, you inactive consciousness it.

Remember, here’s the past happening I’ll say, people’s enactment with the app — and this is antithetic from america versus immoderate chiefly tech companies — is comparatively little compared to the clip they’re spending successful the car. And truthful I would accidental portion of my occupation is to fig retired however to marque that in-car acquisition adjacent much absorbing and, frankly, person a bigger spot successful your encephalon than conscionable however you hap to get there.

Let’s speech astir that for a second. You bash person the different customer, the driver. Every clip I get into a rideshare car, I inquire the driver, “What would you person maine inquire the CEOs of these companies?” It is ever the aforesaid answer. I’m definite you tin conjecture what it is. They each privation the rates to spell up. I don’t deliberation I’ve ever adjacent heard different answer. They each conscionable privation the rates to spell up. 

The thought that possibly the rates you complaint to customers mightiness change, and the satellite of AI oregon the margins mightiness alteration if you’re not doing arsenic galore upsells successful the app due to the fact that of AI interfaces, is successful nonstop struggle with, boy, the drivers privation their rates to spell up. They would similar your outgo to beryllium higher. 

One, tin you wage drivers more? This is the fig 1 question I get, truthful I’ll conscionable inquire you directly: Can you wage drivers more? Do you spot a pathway to doing that?

I mean, the abbreviated reply is we wage drivers arsenic overmuch arsenic we perchance can. Our interests are overmuch much aligned with drivers than I deliberation the fashionable imaginativeness and drivers would think. And the crushed I accidental that is due to the fact that we some person the aforesaid goal, which is to get arsenic galore rides going done the level arsenic imaginable and to summation the full volume.

Now, of course, astatine the idiosyncratic operator level, they mightiness say, “Well, gosh, I privation determination were less drivers connected the level truthful I don’t person to vie with arsenic galore different drivers.” There are things similar that. Riders would accidental the opposite: “I privation determination were much drivers truthful that idiosyncratic could prime maine up faster,” but broadly speaking…

So fto maine backmost up for conscionable a 2nd due to the fact that it’s specified a large deal. Okay, archetypal of all, let’s commencement with the ace basics. How overmuch bash drivers make? Let’s really speech astir this for a second. Okay, we’ve studied this a lot. There’s a large achromatic insubstantial connected our website that really is super, ace good researched and database, not conscionable opinions.

Okay, broadly speaking, erstwhile a operator is driving connected our platform, which means they’re either coming to prime you up oregon they’ve got you successful the car and they’re dropping you off. They’re not waiting. So we’re going to travel backmost to that successful a second. When they’re driving, they’re making astir gross nationwide, $30 an hour, 30, 3 zero. Now they person costs: gas, maintenance, cleaning the car, these things. Not insurance, we wage that, but repairs, things similar that. If you instrumentality each those costs into account, it’s astir 20 bucks an hour, 20 bucks an hour, truthful 20 bucks an hour. So let’s conscionable accidental that. 

Now, truthful past you’re thinking, “Well, gosh, that doesn’t dependable truthful bad.” Well, okay. But here’s the portion that you besides person to know, which is they’re not ever getting paid that 20 bucks an hr due to the fact that sometimes they’re waiting, and erstwhile they’re waiting, they’re not making money. Now, erstwhile they’re waiting, often they’re connected the different guy’s app. And truthful net-net, they inactive mightiness beryllium making $20 an hr if they’re truly bully astatine flipping backmost and forth. But you can… I can’t warrant demand. I can’t warrant connected my platform, connected anyone’s platform, there’s ever going to beryllium demand. 

What bash they get successful instrumentality for each that, for not getting a guaranteed $20 an hour? They get the information that they tin crook the app connected anytime they want, disconnected anytime they want, they tin prime up their kids, they tin spell connected vacation, they don’t person to telephone successful if they don’t consciousness similar coming to enactment — that’s what they get. That’s the large trade. The large commercialized is: here’s however overmuch you’re going to make, and we’re going to effort arsenic hard arsenic we tin to person you marque more, arsenic hard arsenic we can. We’re going to physique AI. 

You mentioned AI a mates of antithetic times. A batch of our astir absorbing applications of AI close present are really for drivers. We person a full operator net adjunct that allows a operator to spell successful and say, “I privation to thrust Monday, Wednesday, Friday, not Tuesday, Thursday. I don’t privation to thrust implicit the bridge. I got to spell home, beryllium determination astatine 5 o’clock. Give maine the champion imaginable plan,” arsenic an example. Or a operator notation letter. You started to thrust 2.5 years ago. You’re 1 of our apical 5 percent drivers. You’re ace reliable. Here’s a notation missive you tin virtually instrumentality to your adjacent imaginable place.

There are each sorts of things that we tin bash to… We tin springiness state discounts, we tin bash each kinds of things to effort to marque your net some connected the level and adjacent if you determine to spell bash thing other arsenic precocious arsenic possible. But the world is, A, we can’t warrant demand, and B, it is perfectly existent that there’s a headdress to however overmuch we tin wage based connected 800 cardinal information points a twelvemonth of astir however overmuch riders are consenting to pay.

And the past happening I’ll accidental is, you tin spot that if you look crossed the country, for example, successful Washington state, Seattle successful particular, rates are rather precocious there, quite, rather high. And average, let’s say, bookings $30 an hr versus $20 an hr due to the fact that of section authorities that went in. And conjecture what? The fig 1 ailment I perceive determination is, “I don’t get capable rides. I don’t get capable rides. What’s happened to each the rides?” I’m like, “Well, conjecture what? That’s what happens present if you don’t fto the marketplace acceptable the rate.”

The different broadside of changing rates, pushing them higher, is that however you get much drivers connected your level versus Uber? The operator availability battles of the aboriginal rideshare days are beauteous legendary. You had task capitalists fundamentally subsidizing some sides of the market.

That’s right.

Right. So you paid drivers precocious rates.

That’s right.

And past I remember, I conscionable got astir New York City for escaped connected the slope of SoftBank’s money.

Basically. That’s right.

I don’t cognize what other the Vision Fund accomplished, but I traveled successful style.

But you traveled successful style. Yep, absolutely.

That was fun.

It’s awesome.

Obviously, that has each travel to an end. Now the marketplace is really connecting proviso and request much directly. But that would beryllium however you could instrumentality stock from Uber. You’ve talked astir taking stock from Uber respective times now. One mode you could bash it is to conscionable say: we person much drivers due to the fact that we wage them much money. Does that travel out? Have you modeled that out?

We really effort to wage drivers more. Again, conscionable similar we effort to complaint riders less, but it’s precise hard. This is not a high-margin business, but we look astatine it virtually each azygous week oregon each azygous day, actually. Here’s what I tin archer you that mightiness beryllium a small surprising: We person a 29-point vantage implicit the different guys connected a magnitude that I truly attraction about, which is, “Which rideshare level would you similar to thrust for?” We person 29 points successful preference.

There’s really different question that’s adjacent to it that we inquire each quarter, which is, does driving for Lyft oregon the different guys springiness you a consciousness of pride? And we besides have, conscionable coincidentally, a 29-point spread successful some of those for each sorts of reasons. Primarily among them, and each the mode backmost to your archetypal point, we bash thing the different guys bash not do, which is we guarantee, we warrant you volition never, never, ne'er arsenic a operator marque little than 70 percent of what riders wage aft security is taken retired implicit the people of a week.

And virtually each week, we nonstop retired millions of dollars, millions of dollars of nonstop deposits to drivers to apical them up to astatine slightest 70 percent. Usually, the fig is astir 85 percent, but 70 is the implicit floor. That is simply a huge, immense operator penchant for us. The drivers that are possibly a small spot much thoughtful oregon nuanced successful their reply to you erstwhile you inquire the question would add… But I cognize a batch of them, they cognize it, but they don’t truly accidental it due to the fact that it’s not successful their champion involvement successful immoderate way, they’re inactive whatever. I cognize that Lyft has really done immoderate existent enactment present to marque definite that our wage is astatine slightest a… Because that we tin guarantee… We can’t warrant demand; we tin warrant we’re ne'er going to wage you little than 70 percent.

So that’s a precise agelong mode of saying it’s hard for america to consistently wage more. We effort it sometimes, and sometimes market-by-market we do, but broadly speaking, again, this is simply a very, precise businesslike marketplace, and truthful what we effort to bash alternatively is each sorts of different things for drivers to marque them consciousness appreciated, seen, well-paid, not unfairly paid, and truthful connected and truthful forth. That’s benignant of what I’m getting at.

The different unit connected drivers and rates connected this full ecosystem is autonomous vehicles. A batch has been said astir autonomous vehicles and however they mightiness displace drivers, however they mightiness alteration those rates. The cars don’t rather thrust themselves yet, right? There’s Waymo successful a fistful of markets, there’s immoderate Tesla is doing successful a fistful of markets, but it’s coming. We tin spot it’s coming.

That’s right.

That requires an tremendous magnitude of investment. Lyft, I would say, mostly you guys are successful a concern crippled crossed the board. That’s however you’re operating. How are you reasoning astir that, and however that mightiness impact the drivers successful your level today?

Let’s commencement with precisely that. And past zoom out. So we’re really precise focused connected thing called Lyft-ready. So Lyft-ready… Well, this is excessively detailed. Let’s backmost up for 1 second. Yeah, driverless cars are perfectly coming. No question. And we person got immoderate large partnerships. Everything from May Mobility, which is successful Atlanta, which is simply a comparatively tiny company, to Waymo, which is simply a precise large company. We’ve said that we’re going to beryllium moving with them successful Nashville adjacent year, to Baidu, which is the Alphabet of China, wherever we’re moving unneurotic successful Europe. So from the implicit biggest to the smallest, yeah, we’re partnering.

And that makes sense. We’re bully astatine supplying request and matching with proviso and pricing and mapping and mislaid and found, lawsuit service, adjacent fleet management, we bash that. The different guys don’t bash that. We person a full subsidiary that does that, which is keeping the car serviced and cleaned and ready, but we don’t bash AV tech ourselves, and we’re not an OEM, we don’t marque cars, okay, truthful we partner.

Now, to reply your question, well, broadly speaking, actually, determination volition beryllium 2 large sources of AVs. Some volition beryllium from, let’s say, radical who person fleets of AVs. Maybe they bought a full clump of them, and they privation to monetize them similar that, the large fleets, and past immoderate from idiosyncratic owners. And I truly bash judge this, and I deliberation this is wherever the intersection with your question gets truthful interesting. Today, we person 1.5 cardinal drivers connected the platform. What are they doing? They’re trading 2 assets they have: their clip and their car for money. That’s the trade. I enactment myself successful the driver’s seat, I thrust around, I usage my car, and I get paid for that.

Okay. Tomorrow, you tin ideate a satellite wherever they tin bash the nonstop aforesaid thing. They tin bargain a car, it’s a self-driving car, due to the fact that I deliberation implicit clip astir each car volition beryllium a self-driving car, and they tin past flip a power and marque it Lyft-ready if we’ve done our occupation right, and enactment it connected the Lyft platform. What does that mean? That car drives around, it picks radical up, it drops them off, it uses each of our mapping and each of our pricing and each sorts of things. It besides uses our fleet absorption to marque definite it’s ever cleaned and ever charged by the clip it gets backmost to you, and past shows up again erstwhile you request it again.

I deliberation 1 mode to reply the question is we privation to marque definite that individuals tin proceed to enactment successful this gig economy. It’s conscionable that present they tin bash it successful a antithetic way. They don’t person to usage their time; they tin usage their carnal assets. The 2nd happening is we are… I mentioned-

Wait, tin I inquire you 1 question astir Lyft-ready?

Yeah, of course.

You’ve conscionable described the aforesaid imaginativeness for Lyft robotaxis arsenic Elon Musk has described for Tesla robotaxis. He has been less, I would say, wide that the cars would beryllium cleaned erstwhile they instrumentality to you. He doesn’t look interested. Have you talked to Tesla astir saying, “Okay, you’ve got this large robotaxi idea. Do you privation to enactment a Lyft app connected it and conscionable marque this go?”

I don’t privation to picture precisely the conversations that hap oregon don’t. I would say, successful general, the vibe that Tesla gives off, I think, is typical of however their institution goes, which is, we similar to bash things ourselves. So I’ll conscionable accidental that arsenic a generic thing. Fleet management… You’ve touched connected 3 things each astatine once. I deliberation there’s a question astir what Tesla is going to do. Interesting question.

Well, they’re the lone car institution that’s selling cars to consumers contiguous that tin bash what you’re describing. Even if you judge that they should oregon should not beryllium doing it, nary 1 other is selling you a car that tin bash what FSD tin do.

One 100 percent today, precisely right, 1 100 percent. So, my presumption determination is that they volition request immoderate benignant of fleet management. Unless you privation to propulsion each of this backmost to… Well, archetypal of all, they’re going to request a full clump of lawsuit work and a full clump of different things that radical don’t deliberation excessively overmuch astir due to the fact that the standard is truthful small. But arsenic you commencement to turn and radical commencement to permission their umbrellas and iPhones successful the thing, and you person connected committee and disconnected board, there’s a full clump of infrastructure. Let’s enactment it this way: creating a rideshare concern is not for the faint of heart. So the archetypal happening that you mightiness inquire yourself is, is each of that a bully thought for them to walk a batch of vigor on, oregon should they spouse with different organizations that are already doing that? Which you’re asking, and I’m declining to reply the specifics, but I deliberation successful general, it’s an absorbing speech that the companies should beryllium having.

And past there’s this much subtle part, I think, which is, again, to your point, it’s each good and bully to deliberation that these cars conscionable magically complaint themselves, cleanable themselves, support themselves, but that’s not the reality. We person a full subsidiary called Flexdrive that oversees 15,000 cars. We bash it today, mostly for drivers who don’t privation to usage their superior car. And truthful we rent them a car, we bargain these cars, we archer the drivers erstwhile they’re going to request service. We marque definite that we’ve got sensors connected the cars to bring… We cognize however agelong it’s going to instrumentality to work the car, each these antithetic things, that precise unsexy fleet absorption stuff. Gosh, it’s the quality betwixt nett and nonaccomplishment connected an asset, and we hap to beryllium precise bully astatine that due to the fact that we’ve done it for galore years.

And truthful backmost to your point, I deliberation portion of the crushed that different companies don’t speech arsenic overmuch astir this arsenic we bash is that they don’t bash it, but we bash it, and truthful we know. And it is portion of the crushed wherefore our Waymo concern successful Nashville is, I think, rather interesting. Waymo and america said, “Gosh, this is truly important, and you guys bash this and bash it well. So however astir you bash it present successful Nashville for us?” So I cognize we’ve covered 5 antithetic things each astatine the aforesaid clip there, but I deliberation that’s portion of the crushed radical are not focused connected it arsenic much, due to the fact that it’s not a capableness that galore companies bring to the table, but we do. Yeah.

I’m precise funny astir the “My car’s going to marque maine wealth arsenic I sleep.” There’s a batch there, but 1 institution that tin really merchantability that merchandise today. But the remainder of it, I ever deliberation astir it arsenic like, man, this truly implies there’s a batch of request successful my sleepy town, portion I’m sleeping, for my car. Is that going to work? Because I really request my car rather often during the day. Let maine inquire you about-

I deliberation that’s besides fair, I deliberation that’s besides fair. I deliberation that for galore people, that won’t needfully beryllium their superior car. I deliberation determination volition beryllium entrepreneurs who spell retired and bargain 5 cars conscionable similar radical bargain tiny fleets contiguous for achromatic car service, and that’s astir apt much apt successful the adjacent term.

Let maine inquire you astir Waymo existent quick.

Sure.

And I privation to zoom retired again. You’re Waymo’s spouse successful Nashville. Waymo is partnered with Uber successful different markets. Waymo is moving its ain work successful immoderate markets. It does feel… And they’re evidently backed by Alphabet; they’ve been backed by Alphabet for a agelong time, and they’re going to walk a batch of wealth to win. It conscionable seems precise obvious. If you inquire Sundar astir it, he’s like, “We’re conscionable going to support spending wealth due to the fact that present it’s precise wide that we’re adjacent to winning.” 

They’re going to walk a batch of wealth until they win. They’re looking for partners, they’re looking to spot what winning looks like. You’re successful a weird competition. You’re successful a weird bake-off. You’re the spouse successful 1 market, they’re the spouse successful different market.

Totally.

They’ve got their ain work successful yet another. How bash you comprehend that competition? Have they told you what winning looks like?

I deliberation they’re figuring it out. I truly do. And I instrumentality them astatine their connection that they… Look, I deliberation a connection that they usage beauteous often is optionality. They person thing beauteous cool. They’ve got exertion that works astir arsenic good arsenic anyone’s successful the world. Again, I deliberation truly lone Baidu would beryllium the existent contention there. I deliberation everybody other is to immoderate grade disconnected wherever they are. And it works and it works well, and radical similar it. So that’s a bully spot to be.

Thus, if you’re successful that presumption and you think, “Well, gosh, I’m not truly definite however this is each going to play out.” A wholly tenable strategy is, “Well, let’s effort a small spot of everything. Let’s effort doing it ourselves end-to-end. Let’s effort partnering successful a definite mode with 1 company. Let’s effort partnering successful a antithetic mode with different company, and we’ll see.”

When I fast-forward, I deliberation a precise apt result is they volition realize, gosh, arsenic I conscionable said, moving a rideshare concern is rather expensive, and it’s precise physical. It involves… Again, deliberation of the scale: 800 cardinal rides we bash each azygous year, 50 cardinal riders, 1.5 cardinal drivers. I cognize those aren’t portion of the picture, but someone’s got to ain those cars. There’s going to beryllium idiosyncratic other successful this representation who owns these things and wants these things utilized.

If you’re Google, bash you privation lawsuit service? Do you privation each these antithetic things that you person to bash to run that service? Maybe you don’t caput it successful a mates of markets. Maybe it’s cool. You tin person nonstop entree to your customers, and you tin bash definite brand-building and possibly get immoderate information from it, whatever, whatever. All good. But bash you truly privation to bash it successful 280 cities astir the United States oregon each astir the world? I don’t know. 

I deliberation a precise apt result is that they volition beryllium friendlies. Or what’s that? Co-opetition oregon whatever. They’ll vie successful immoderate markets, and successful others, they’ll partner, and our occupation is to beryllium the champion spouse they tin perchance person truthful that they, implicit time, springiness america much of their concern and enactment focused successful their ain mode successful immoderate tiny fig of markets. And that’s great.

Lyft utilized to person its ain autonomous car part that was sold earlier you became the CEO, but you person different partnerships that bring you person to really making the hardware. You conscionable announced one, a institution called Tensor. There’s immoderate weirdness with Tensor. It utilized to beryllium a Chinese institution called AutoX, and we were told that it each got coiled down. Have you ridden successful a Tensor car? Do they exist?

They bash exist. I person not ridden successful a Tensor car myself, but colleagues and radical connected my squad have.

I’ll archer you astir Tensor conscionable for 30 seconds. It’s a precise absorbing company. So they are besides trying to create, somewhat uniquely successful the market, a car that is simply a self-driving car and a robotaxi. So, successful different words, thrust maine oregon thrust idiosyncratic other from the start. They partnered with VinFast, which is simply a Vietnamese company. They person a tiny fig of cars present successful the United States. But I deliberation what’s astir absorbing to them astir VinFast is that it’s a precise caller company, and therefore, their assembly lines are rather new. They person precise modern technology, and truthful connected and truthful forth. They person outfitted their cars with a brainsick fig of sensors. Everything is redundant.

I mean, you speech to… The guy’s sanction is Professor X, who runs the company. You speech to him, and he’ll archer you however important it is to person redundancy astir braking, redundancy astir steering. He wants this happening to beryllium perfectly bulletproof, and the steering instrumentality virtually moves retired of spot if you don’t privation it there. I mean, it’s a very, precise absorbing merchandise that they’re designing. It’s precise expensive. It’s $300,000, thing similar this. But, of course, it’ll travel down. Still, it’s truly meant to beryllium a precise bespoke thing. And arsenic I said, self-driving from the start. He’ll archer you astir lidar and however determination are antithetic versions of lidar; they’ve got the best, each this stuff.

Okay, wherefore did I spell into item astir this? I deliberation implicit clip — and you tin spot this done past — radical commencement by retrofitting thing existing arsenic a mode to get started, and past yet they realize, “Gosh, this is simply a caller thing, and truthful therefore, let’s make our ain purpose-built thing.”And I deliberation they conscionable decided, successful particular, “We’re going to leap implicit the bespoke oregon the instrumentality idiosyncratic else’s and effort to retrofit, and we’re conscionable going to go. It’s small-scale, it’s ace expensive. We’re going to thrust that outgo curve down.”

Other people, obviously, Waymo’s done precisely the opposite. They usage the Jaguar I-Pace, and they’re going to determination to the Zeekr. Zoox is more… So anyway, agelong reply to a peculiar question, but I deliberation Tensor is precise absorbing due to the fact that it’s our archetypal impervious constituent for the Lyft-ready concept, adjacent though it’s ace small, ace experimental, but truly interesting. And I’d emotion the information that they’re trying to innovate.

When you look astatine that bet, you’re describing the large disruptive bet: We’re going to instrumentality the caller technology, and we’re going to commencement with that arsenic the instauration of the product, and we’re not going to interest astir each the worldly that happened before. Sure, that signifier repeats.

Right successful the mediate of that, conscionable to bring it backmost around, is the driver. The thought that Lyft-ready volition enactment a clump of rideshare cars successful people’s houses, oregon that it’s worthwhile to marque a exertion stake connected self-driving cars successful that circumstantial mode that Tensor mightiness beryllium making. All of that puts unit connected the driver. The logical extremity authorities of that is that 1 day, determination volition not beryllium drivers connected this level astatine all. How agelong bash you deliberation that volition be?

Many, many, galore years, many, galore years. Beyond the enactment span of 99 percent of drivers connected our platform. Part of it is conscionable basal laws of physics. Like astatine the Taylor Swift performance oregon astatine the extremity of the NFL game, oregon adjacent astatine 5 o’clock each day oregon 9 o’clock successful the greeting each day, determination conscionable aren’t capable self-driving cars. And there’s surely not capable self-driving cars being driven… Excuse me, determination are surely not capable riders who lone privation self-driving cars.

 A batch of them conscionable privation to get wherever they’re going accelerated and cheap, and therefore, they don’t truly attraction whether it’s a robot oregon not, but they truly won’t hold for 15 minutes erstwhile they could hold for 2 minutes for a human-driven car. And past determination are radical who privation assistance with their luggage, and past determination are radical who privation to person the conversation, and past determination are radical who conscionable don’t similar technology.

So determination are each sorts of reasons. And past determination are regulatory things, and past determination are snowstorms, and past determination are crystal pellets, and each kinds of things. There are a cardinal reasons why, successful the adjacent term, the hybrid web is the amended approach, each the things.

In the mean and agelong term, determination volition beryllium less drivers arsenic a percent, but retrieve 160… Let’s conscionable punctual ourselves of this brainsick fact. Today, arsenic I said, we bash 800 cardinal rides, possibly the different feline does 1.5 cardinal rides. So possibly 2.5 cardinal rides betwixt the 2 of america each twelvemonth successful rideshare successful the United States, I’m talking about. Okay, what’s the full fig of rides that radical get successful the car and thrust themselves? 160 cardinal per year. So 2.5 billion, 160 billion. So determination is simply a batch of country betwixt 2.5 cardinal and 160 cardinal for america to proceed to turn and grow and person much drivers connected that platform.

And by the way, each the estimates astir the fig of self-driving cars by, say, 2030, are 30,000. That 30,000 is simply a tiny thing. We person 1.5 cardinal drivers connected 30,000. Now they’re moving 24/7, precocious efficiency, precocious utilization. So it’s not apples to apples, but still. That’s, again, atrocious for each the verbiage there, but it’s a mode of saying I deliberation the hybrid web dominates for a long… Hybrid, meaning immoderate driven by humans, immoderate driven by autos, really by robots, volition predominate for a long, long, agelong time. And I deliberation by the clip we get to a constituent wherever determination are comparatively smaller numbers of drivers than determination are today, gosh, I deliberation we’re talking about… You mightiness arsenic good deliberation of it arsenic a generation. I don’t mean 25 years, but I mean astir radical who thrust connected the level don’t bash it for much than three, four, 5 years benignant of thing. At that point, it’ll beryllium a full antithetic world.

And past the past happening I’ll accidental is that I mentioned it arsenic benignant of a gag astatine the beginning, but not really, the car tender idea. I deliberation determination volition beryllium amusive things that radical are going to beryllium doing successful the cars that are not conscionable driving; it’s making drinks, it’s telling stories, it’s being the section guy, it’s, again, helping you with the luggage, it’s doing each kinds of different worldly that drivers bash contiguous connected the side. And now, I don’t know, conscionable being a… I don’t know. Who knows, who knows?

Are you going to exposure that benignant of operator individuality?

I anticipation so.

I mean, you could bash it from the apical down. You could say, “You’re each bartenders now. We’re doing Old Fashioneds successful the car.” And possibly the level volition enactment that, and possibly the ecosystem volition enactment that. But the different happening I’ve heard from drivers… Sometimes you get into a Lyft and the operator has acceptable up 15 charging cords and volition fto you play with the music. And sometimes it’s conscionable a feline successful a Camry, and there’s nary complaint differential there, and the other effort is not rewarded. 

Essentially, it’s a commodity. The constituent of the level is to commodify the service. Do you deliberation you’re going to fto the drivers decommodify successful that way?

I do, I truly do. And I think, look… We conscionable announced 2 days ago, I guess, the acquisition of a institution called TBR, which is simply a very, precise high-end, ultra-luxury, chauffeur-driven service. It’s for non-deal roadworthy shows and Super Bowl events and worldly similar that. It’s a very, precise bespoke thing, but 1 of the reasons we did it is due to the fact that the level of work that they supply is unbelievable. And gosh, tin we larn a batch astir it? 

There, the drivers bash each kinds of absorbing things. I mean, they’ll get you your java earlier you get successful the car due to the fact that they cognize that you similar a latte and not a level white. And past erstwhile you spill the java connected your shirt, they’ll prime the caller garment up portion you’re successful the gathering truthful that it’s acceptable for you erstwhile you travel out. And they’ve already called the adjacent person, saying, “We’re going to beryllium 2 minutes precocious due to the fact that the guy’s got to bash thing earlier helium gets there.”

So I’m not saying you tin supply that level of work to each azygous idiosyncratic 24/7, but I deliberation the thought that… I mentioned concisely earlier this conception of enshittification, a work that starts retired amazing, and past gets a small spot little truthful implicit time. I deliberation rideshare for truthful agelong has been caught successful this benignant of binary of america versus the different guy, and precise competitive-focused, and everything’s a commodity, and everything’s astir cost, and truthful forth. And I deliberation implicit time, you get to the constituent wherever it’s like, that’s nary longer interesting. 

What’s overmuch much absorbing is the adjacent 160 cardinal rides that radical are taking successful rideshare that they’re not taking today, and however bash you fto that operator amusement up successful a mode wherever they go antithetic from a robot, not conscionable a robot with… a quality robot, a soma robot. So yeah, I deliberation there’s a lot. And past the question is however bash you bash it astatine scale, and however bash you bash it successful a high-quality way, and however bash you bash it successful an economical way? But those are what… Aside from self-driving and each the rest, the quality broadside is what makes this manufacture truthful interesting.

I bash person to connection a plug here: Cory Doctorow, who wrote a publication called Enshittification and coined the term, volition be connected Decoder precise soon, and you tin perceive him speech astir it.

Oh, fantastic, I’m a fan. I sent him a small enactment aft I wrote this. So I wrote astir enshittification past year, and I got introduced to Cory. He really came to the office. He, astatine the time, said each kinds of bully things. So anyway, he’s a bully guy. I anticipation you person a large speech with him.

It’s Sarah Jeong connected my squad who did it, but she’s smarter than me, truthful they had a large conversation. Both of them are, truthful that’s conscionable the mode it goes.

Let maine inquire you conscionable 1 question astir the curve here, and past we tin wrapper it up. You’re saying successful the aggregate that attrition volition lick this problem. Drivers volition postgraduate disconnected the platform, they’ll find different work, oregon they’ll retire, oregon bash immoderate they do, and they’ll go. And arsenic that happens, robots volition travel online, and you’ll find immoderate benignant of blessed medium. That’s broadly the plan. We’re not going to regenerate a batch of drivers. Drivers are going to graduate. Robots mightiness regenerate them. Some different drivers mightiness regenerate those. Who knows? That’s the agelong horizon. And I tin spot however that mightiness enactment out.

In the abbreviated term, what I perceive precise straight is, “Oh, the robot cars person travel to my town, present the request is moving distant from this platform. I’m waiting astir for adjacent much rides than I was before.” Or the dynamics person changed, oregon the rates person changed, and it’s precise individualized, and it’s hard to marque an statement that says, “Well, look, 1 time you’re going to retire.” But you don’t get to marque the semipermanent statement to the operator themselves erstwhile they’re faced with the menace of autonomy. How bash you marque the statement to the idiosyncratic operator that this volition beryllium bully for them?

So 2 things. I mean, I deliberation archetypal — and we look astatine this information a batch — I would accidental that the stories you conscionable told are not truly supported by the data. In different words, for example, we’re really growing. Lyft is increasing faster successful markets wherever determination are AVs, adjacent erstwhile we’re not participating successful the AV, faster than average. So our mean maturation complaint is 15 percent. We’re increasing faster than that successful places similar San Francisco and Phoenix and places similar that.

I deliberation there’s a mendacious causality wherever radical spot a self-driving car and they’re like, “Oh, I didn’t get a thrust today, and that indispensable beryllium that,” but that’s really not truly the case. In general, self-driving cars really grow the market. They really oxygenate the marketplace successful caller ways, bring tourism, and each kinds of things. So constituent two, however, but that’s conscionable data, which isn’t needfully going to person anyone who’s feeling this.

Okay, truthful let’s speech astir the feeling side. We are precise progressive successful this. We person a full operator roundtable thing, and the full taxable of that… Where we bring drivers unneurotic — we conscionable did it again past month, we’re doing it successful antithetic parts of the country. The taxable is let’s speech astir what happens erstwhile AVs travel to municipality and however you’re going to beryllium okay. How are we going to collectively marque thing that is good for you?

I mentioned this portion precise concisely before, but I’ll travel backmost to it. One of the things I americium ace excited astir is this operator accomplishment missive that we present fto drivers make for themselves. So erstwhile you’ve driven a definite fig of rides connected the platform, you tin spell in, and acknowledgment to AI, propulsion a fastener that says David started driving in… This is really true. I thrust for Lyft, and I deliberation my archetypal thrust was connected April 13th oregon 14th of 2023. So anyway, he’s been driving since April 2023. He’s 1 of our apical — present this part, I’m making up — 5 percent drivers. He’s ace reliable. Here are a mates of typical comments. I would urge David for immoderate service-oriented concern helium mightiness have.

And that credentialing… Because our drivers are successful the work business. So I deliberation 1 reply to your question is not conscionable let’s hold for attrition, but let’s assistance drivers who privation to usage this arsenic a benignant of mobility thing.

By the way, retrieve that happening I conscionable talked astir with TBR, the institution we conscionable acquired? Those drivers marque rather a batch of money, rather a batch of money. And truthful to the grade that you privation to thrust up successful the ecosystem, achromatic and higher level, that’s different anticipation too. And that ain’t going distant anytime ever. No robot takes the spot of the chauffeur who gets you coffee.

So I deliberation it mightiness dependable a small vague, but each I privation to accidental is that this is not thing we’re conscionable saying, ah, excessively atrocious for them. We’re really saying the opposite, which is, “How tin we assistance this modulation hap successful a mode that feels orderly?” Yes, however tin we stock the information of what’s happening, of course, but besides however tin we assistance drivers to transition?

And by the way, possibly we tin prosecute them successful lawsuit service. This is thing we speech astir each the time, each of our operator lawsuit work folks, however chill would it beryllium if each 1 of them were ex-drivers, arsenic an example? I deliberation determination are immoderate answers to this question.

Well, David, this has been a large conversation. I’m excited to person you backmost arsenic much and much of these things develop. What’s adjacent for Lyft? What should radical beryllium looking retired for?

So if you look to, maybe, six months agone and past six months from now… Six months ago, we were lone a home company; present we’re an planetary company. We acquired a institution called Freenow successful Europe, which is awesome. Now, erstwhile you spell to Europe and you unfastened your Lyft app, you’ll get a enactment saying, ”Please download the Freenow app. 

Those are our partners. Over time, that’ll conscionable beryllium the Lyft app. That’ll beryllium wonderful. We’ll beryllium capable to run successful Europe natively. If you’re a United customer, you’re soon, precise soon going to beryllium capable to unfastened up the Lyft app and get points from United Airlines. So enactment that successful your cap.

If you’re a CEO, soon you’ll beryllium capable to usage TBR arsenic portion of the wide Lyft ecosystem. So a mates of precise evident ways wherever we’re, you mightiness say, expanding retired and expanding up. We’re going up successful presumption of definite demographics and work level, and retired successful presumption of geography. In much and much markets, you’re going to beryllium capable to instrumentality a self-driving car connected the Lyft platform. Today, you often bash an off-platform oregon connected idiosyncratic else’s platform. So that’s ace exciting. All those things are happening successful the adjacent term.

I deliberation if you look astatine the mean and agelong term, I’ll travel backmost to the beginning, our intent is to service and connect. And this is astir much of a philosophical happening than a institution thing. Every infinitesimal you’re spending watching Netflix astatine home, each infinitesimal you’re spending getting nutrient delivery, it’s awesome, those are large experiences, but gosh, I truly bash privation to beryllium a adjuvant unit successful your beingness to besides marque definite you’re connecting with radical and getting retired and astir and experiencing the existent world. And truthful arsenic you look implicit two, three, 5 years, you should expect Lyft to become, I hope, much and much adjuvant successful that portion of your beingness arsenic well.

Terrific. Well, I’m excited to get a thrust successful a Tensor car precise soon. It looks crazy. I conscionable privation to spot 1 successful person.

It’s insane.

We’ll person to person you back. Thank you truthful much, David.

Yeah, it’s been a huge, immense pleasure. Thanks for the clip and the questions.

_{Questions oregon comments astir this episode? Hit america up astatine [email protected]. We truly bash work each email!}