How the COVID-19 Pandemic Has Impacted the Rideshare Industry
Send us a text The rideshare industry is bleeding. The Q1 conference calls were basically cost-cutting manifestos— a huge shift from an earlier focus on growth to now a more sustainability/ balance sheet game. Uber & Lyft have been swift to reduce their expenses at all costs, from dropping pool rides, coupons and other marketing expenses as well as cutting staff. Let's break down the quarter further: Uber Volumes were down BIG! Almost ~ 70% (Uber) Y/Y in AprilThey still managed a ...