Lyft Co-Founder on the Gig Economy

The transcript discusses the company's strong quarterly performance, with record profits and improved driver earnings. It addresses concerns about the macro environment, including inflation and recession risks, and compares the company's recession resistance to Uber. The strategy on costs and hiring is cautious, focusing on profitable growth. The company is well-positioned for autonomous vehicle integration, with strong partnerships. Future demand is expected to remain positive despite potential COVID challenges.

What was the average hourly earning for drivers during the record quarter?

• $25

• $30

• $37

• $40

How did the company's ETA, a measure of service levels, change year over year?

• Increased by 5 minutes

• Remained the same

• Decreased by 3 minutes

• Increased by 3 minutes

What is one of the benefits the company sees in the current macro environment?

• Higher gas prices

• More people seeking flexible work

• Decreased demand for rides

• Increased competition

How is the company approaching spending and hiring?

• Reducing workforce significantly

• Freezing all hiring

• Cautiously, with a focus on valuable headcount

• Aggressively expanding

What is the company's position regarding autonomous vehicles?

• They are not interested in autonomous vehicles

• They have no partnerships in this field

• They are in a perfect strategic position for the transition

• They are behind competitors in this area

What is the company's expectation regarding future demand trends?

• Expecting demand to remain constant

• Uncertain and unprepared

• Seeing positive trends and ready for uncertainties

• Expecting a significant decline

What is the company's strategy for dealing with potential COVID spikes?

• They plan to shut down operations

• They have more tools now and are ready for anything

• They are following monkeypox trends

• They have no strategy