Uber and Lyft are finally starting to look like different companies
Uber and Lyft have been operating on parallel tracks for a long time. Drivers moonlight for both services, customers toggle between the two apps, and despite Lyft’s efforts to position itself as a “woke” alternative to Uber, the two companies essentially operate identical ride-sharing services in the US.
Of course, there’s a lot to differentiate the two from one another. Uber is global, while Lyft only operates in North America. Uber dominates ride-sharing, taking in roughly 70 percent of US riders spending and leaving Lyft with the rest. But this week’s earnings reports revealed a much sharper divergence between the two companies than we’ve seen in the past, namely around side hustles.
Uber’s main side hustle is...