Lyft diversified beyond ride-sharing into bikes and scooters for a resilient recovery.
John Zimmer advocates for nuanced driver employment policies and focuses on autonomous vehicles for Lyft's future.
Deep dives
Building Resilience Amid Challenges
John Zimmer, the co-founder of Lyft, discusses the challenges faced by his company during the pandemic. Despite significant disruptions, Lyft has shown resilience with a strong recovery in ride numbers. Zimmer emphasizes the importance of long-term thinking and making tough decisions to ensure the company's survival during tough times.
Diversification and Adaptation in Business Strategy
Lyft's response to the changing market conditions involves diversification beyond traditional ride-sharing. The company has expanded into bike-sharing and scooter programs, which have shown promise in terms of recovery and reduced downsides. Additionally, Lyft is exploring opportunities in delivery services to support local businesses and provide job opportunities.
Navigating Policy Debates and Future Innovations
Zimmer addresses the policy debate concerning the employment status of drivers and the Proposition 22 initiative in California. He advocates for a nuanced approach that offers benefits based on driver's work hours while acknowledging the need for regulations. Furthermore, Zimmer highlights Lyft's focus on autonomous vehicles and new services like car rentals to meet changing transportation demands.
This year has brought unexpected challenges to Lyft, starting with a 75 percent drop in rideshares at the beginning of the pandemic. But co-founder John Zimmer says ride-hailing is returning, and the company is continuing to diversify with car, scooter, and bike rentals. John also answers questions about whether app-based drivers should be thought of as part-time employees or independent contractors. These conversations are excerpts from our How I Built Resilience series, where Guy talks online with founders and entrepreneurs about how they're navigating turbulent times.