The repairs that Uber and Lyft make now because of the coronavirus pandemic may be the necessary push for innovation they need for the future. DoubleLJSquared explains. WSJWhatsNow
The coronavirus has hit the ride-hailing business head on, but subsequent repairs should at least yield a leaner and more sustainable industry model.
Disappointing public offerings last year forced the cash-guzzling companies to shift from a race to growth to a race to profitability. While the pandemic has played havoc with their targets, it is at least forcing the industry to speed up aggressive cost-cutting measures it probably should have taken all along.
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