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The "Why" in Lyft

In his Money Stuff piece for Bloomberg Opinion, Matt Levine talks about Lyft's articulation of its business in the Company's prose-filled mission statement in the S-1 prospectus. "Our mission: Improve people’s lives with the world’s best transportation. It’s time to redesign our cities around people, not cars. The Y in Lyft - The why in what Lyft is doing is most important to us, as well as the cities and communities we serve, and it will always be our company’s North Star,” says the Company in its filed document. While it might seem silly, that articulation is possibly advantageous, says Levine. Focusing on this stuff has a few obvious advantages. For one thing, it draws a contrast between Lyft and its main competitor (in the U.S. rideshare industry, and in the 2019 rideshare IPO race), Uber Technologies Inc. “Lyft Wants Investors to Know It’s the ‘Better Boyfriend,’” says Bloomberg News: Lyft has staked out a position as the nice and woke alternative to Uber, and it picked up market share in 2017 due to Uber’s string of scandals. Full article in Bloomberg Opinion - HERE


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