
Lyft: John Zimmer
How I Built This with Guy Raz
Lyft
In the first year, how many people downloaded the app? Best guess, tens of thousands. Lyft receives a commission off of that, 20 to 25% off of the overall rate. The rest goes to the driver as well as a trust and service fee. And we've gone above and beyond the background checks, which actually still to this day for limos in California are not required. We've done driving record checks with more strict criteria and we've created insurance policy that's a million dollars and theirs is $750,000.
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