The Lyft IPO has investors excited, but these kinds of businesses aren't proven to be recession-proof.
Ives says he believes we could be in for a"slower demand cycle" over the next 12 to 18 months, though he thinks the economy will likely dodge a full blown recession.
This scenario views services like Lyft and Uber as essential staples of everyday life. Unlike"discretionary" goods that people decide they can do without during tough economic times, ride-sharing has become a critical means of transportation. "A bus might be more economic, but if you need to get to work quickly, that 30 minutes might be worth a few more bucks," says Kim.As people lose their jobs in a recession , the gig-economy could provide a sort of safety net for the unemployed to earn cash and try to make ends meet.Drivers are already protesting because of the price cuts that Uber and Lyft have rolled out. A flood of new drivers could push prices down to rock-bottom levels.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
From Lyft to Airbnb, new round of IPOs is no market top: Nick ColasDataTrek's Nick Colas sees historical trends and valuations as bullish support for the next round of IPOs.
Baca lebih lajut »
Lyft raises $2.34 billion as U.S. IPOs kick into high gearLyft raised about $2.34 billion in its initial public offering, pricing its shares at the top of an elevated range in a listing seen as a bellwether for Silicon Valley companies.
Baca lebih lajut »
How IPOs From Uber, Airbnb And Others Could Create A $230 Billion Windfall And 6,000 New Millionaires6,000 is a rough guess of just how many millionaires will be part of this next tech IPO wave.
Baca lebih lajut »
In market debut, Lyft counters Uber with 'nice guy' imageLyft Inc has been challenging larger ride-hailing rival Uber Technologies Inc fo...
Baca lebih lajut »
Early Lyft investor Ben Horowitz picked it over Uber because 'character and culture' was betterLyft board member Ben Horowitz said that Lyft's environment was a selling point for his firm Andreessen Horowitz buying into six percent of the company's IPO.
Baca lebih lajut »
Will Lyft and Uber make ‘car cutting’ the new cord cutting?Lyft’s IPO may help investors’ portfolios, but ride-sharing may hurt when it comes to traffic congestion.
Baca lebih lajut »
‘I'm really struggling’ — Facing pay cuts, some ride-hailing drivers prepare to strikeLed by a group called Rideshare Drivers United, Uber and Lyft contractors in Los Angeles are planning a strike after Uber slashed the per-mile pay from $0.80 to $0.60.
Baca lebih lajut »