How Uber And Lyft Are Trying To Kill Each Other
J Thoendell stashed this in Tech
The Potrero Hill intersection doesn’t look like much — two empty lots and some furniture stores tucked under a freeway overpass. But the street might as well be strewn with cash, since that’s what Uber and Lyft are throwing at any driver that rolls through it.
Uber has been aggressively poaching Lyft drivers for months, offering them huge bonuses just to do a few rides on Uber. This week, Lyft started fighting back with similar bonuses, and the venture-capital-funded frenzy gets wilder each day. Money’s the weapon, new drivers are the bounty — but drivers also feel they’re the casualties.
Stashed in: Uber
I wish I could say that consumers benefit from this competition, but it's hard to see that that's true.