, Columnist
Lyft Confirms What We Know and What We Don’t
How big is the market for ride-hailing services? How great is the true demand? The answers are elusive.
An empty map, but plenty of excitement.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Lyft Inc. on Friday gave the public its first look at its financial statements and vision for the future of transportation. While the specific figures may have been a surprise, the general trend was not: Lyft is growing rapidly and its losses are huge, although the company is showing improvement there.
Readers will naturally have two questions: How will Lyft do in its initial public offering? And will it capture a large and lasting share of what the company says is $1.2 trillion in U.S. spending on personal transportation?