Skip to main content

Lyft capitalizes on Uber’s no good, very bad year, reports a stellar 2017

Uber may have had an abysmal 2017, with a massive data breach, lost licenses, and too many lawsuits to count. But here to keep you from getting too down on the future of ridesharing is Lyft, whikh has proven once and for all that the best way to get on top is to be everything your competition is not. So as Uber went low in 2017, Lyft managed to go high, and recently, the company unveiled what it calls its 2017 Economic Impact report. Keep in mind, of course, that these are self-reported numbers, but all the same, they’re pretty impressive.

“Together with our drivers and passengers, Lyft is making a positive mark on communities across the nation,” the company emphasized in its report. For starters, the company says that Lyft passengers were particularly generous, spending an additional $2 billion in their respective communities. Lyft drivers, on the other hand, managed to double their earnings in 2017 to $3.6 billion. That figure, the company noted, does not include tips, which alone accounted for $240 million in earnings. This represents a 120-percent increase over 2016. In total, Lyft gave passengers 375.5 million rides, which equates to 92 million travel hours or $3.2 billion saved compared to other forms of transportation, the company says. Its busiest day, unsurprisingly, was New Year’s Eve, with more than two million rides given.

Recommended Videos

Those nearly 400 million rides represents 130 percent growth when measured year over year, and were given to 23 million unique passengers, which is a 92-percent year-over-year increase. Lyft also managed to double the number of drivers on its platform to 1.4 million in 2017.

Perhaps most intriguing, however, is Lyft’s claim that it has managed to reduce the number of personal cars on the road. In 2017, Lyft says that nearly 250,000 passengers decided to do away with their personal vehicles because of a ridesharing alternative. The company also claims that 50 percent of its users reported driving themselves less thanks to the Lyft platform, and 25 percent no longer feel owning a car is particularly important. If this proves to be widely true of not only Lyft passengers, but those of other ridesharing services as well, we could soon be seeing far fewer cars on the road. And that, friends, is a future worth looking forward to.

Lulu Chang
Fascinated by the effects of technology on human interaction, Lulu believes that if her parents can use your new app…
Cheaper EVs ahead? GM and LG say new battery cells are the key
2025 Chevrolet Equinox EV front quarter view.

General Motors and LG Energy Solution have announced a new phase in their ongoing partnership: developing a new battery cell chemistry that could significantly lower the cost of electric vehicles. The joint effort centers on lithium manganese iron phosphate (LMFP) battery cells, a variation of lithium iron phosphate (LFP) that’s gaining popularity for being more affordable and less reliant on expensive materials like nickel and cobalt.

This is a big deal because battery costs are still the single largest expense in producing EVs. According to GM and industry experts, LMFP cells could help bring the cost of electric vehicles close to — or even on par with — gas-powered cars. The goal? Making EVs accessible to a broader range of drivers without sacrificing range or performance.

Read more
Waymo recalled 1,200 robotaxis following collisions with road barriers
Waymo Jaguar I-Pace

Waymo’s autonomous-car technology has made great advances over the years to the point where it’s now allowed to offer paid robotaxi rides in select locations in the U.S.

But the development of the technology is ongoing, and the robotaxi rides continue to gather valuable data for Waymo engineers to pore over as they further refine the driverless system to make it as reliable and efficient as possible. Which is why glitches will sometimes occur.

Read more
Apple CarPlay Ultra looks stunning in Aston Martin supercar debut
Apple CarPlay Ultra

Apple CarPlay Ultra is the next generation of the Cupertino, California-based firm's smartphone projection system for your car, and it's available in new vehicles in the US and Canada.

When we say "new cars", your options are very much limited to one brand... Aston Martin. So you'll need deep pockets if you want to experience CarPlay Ultra for yourself.

Read more