While Lyft and Uber are considered by many to be natural rivals in the ride-share space, Lyft CEO David Risher cites certain post-COVID cultural trends to be detrimental to the overall ride-share and experience industries.
Risher sits down with Yahoo Finance Executive Editor Brian Sozzi at the Goldman Sachs Communacopia & Technology Conference to discuss Lyft's refocusing on its customers and costs.
"Our strategy is to really... make price shopping kind of a waste of time, if i can say it that way," Risher says. "I want to focus on our customers, and sometimes what I say is, I don't think our big competition is Uber. I think our competition is staying at home, watching Netflix and eating pizza. I mean, as much fun as that is, I guarantee it's more fun to go out with a friend."
Risher also comments on Lyft's competitive cost-saving features on its app, the tough decision to lay off staff, and his time as one of the first Amazon (AMZN) employees working under Jeff Bezos.
