In 2012 John Zimmer launched Lyft as a computer programmer as an extension of Zimride, the original platform for the taxi service. As many of you know, Lyft is the primary competitor to Uber. Lyft was originally designed for college students and was for students who didn’t have a ride from place to place and couldn’t pay the high prices of a taxi service. They are alternatives to a traditional taxi service. The idea is that they can provide taxi services at a cheaper cost by allowing employees to use their own cars instead of taking on the costs of owning many cars, buildings and funding taxi drivers. Zimmer then sold Zimride to Enterprise Rent a Car in 2013 in order to focus on the Lyft program. This platform has changed the way people think about travel. They no longer have to rent cars or order taxis when in their non native area. Additionally, this results in cheaper prices for consumers and creates new opportunities for side jobs for people looking for extra work since the app employs regular people and not specific taxi cab drivers who do that as a full time job. In in the same way, people can still make a decent amount of money by exclusively driving for Lyft and forgoeing a full time job.
Good Job, John Zimmer has an interesting story and was able to build a competitor strong enough to compete with Uber. My uncle drove for Lyft and got to meet John Zimmer at their IPO event he said he was very nice and dedicated to Lyft. You really can get an idea from anywhere, taxis where a stale industry then Uber and Lyft completely overturned it. Nice article.
Lyft is a classic example of a successful entrepreneurial venture. It was an idea that definitely could have flopped, but they worked to make it happen. The problem of taxis was effectively solved, so people got on board. People can make money driving, and people can get rides! Win-win!
Obviously this business model has been wildly successful and changed the way we view transportation in urban areas. Lyft (and also Uber) are some fascinating companies!