Ridesharing’s Ongoing Search for Sustainability
Ridesharing remains an industry in search of a business model. With gas prices soaring, inflation at 40-year highs, and Wall Street volatility returning with a vengeance, companies like Uber and Lyft have been left with no choice but to raise prices. Industry estimates peg ridesharing pricing as being up by as much as 30% on a per mile basis between 2019 and 2022. This has led to the ridesharing business model receiving a renewed look as to its long-term sustainability and competitiveness. What is found isn’t pretty.
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