https://www.wsj.com/articles/lyft-seeking-at-least-500-million-in-new-funding-1488418612 This is weird, right? Why not just get a loan?
I like competition. Hopefully it's not down round for them. I'm not surprised why they rushed into many new cities recently.
Jumping into a lot of new cities very expensive due to increased marketing and incentive spend
They needed that slide for their fundraising deck though
The cities are very cheap, can promise you that. It's not that operationally heavy. Also burn is very low and close to breakeven. It's easy to raise right now and good to have in case there are strategic opportunities we'd want to look at. Probably all I should say.
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Quitting this Slave life
Nobody will loan money to lyft because lyft will shut down in 12 months.
Yo relax
Truth is ugly, my friend.