Lyft's boss says he knows how much riders hate surgepricing and claims his ridesharing company is trying to get rid of the system.
Surge pricing has always faced strong opposition from rideshare passengers for obvious reasons, so the news from Lyft this week is sure to be welcomed.
Recommended Videos During an earnings call this week, Lyft CEO David Risher said that while surge pricing has the effect of bringing out more drivers when ride demand peaks, it also causes some passengers to avoid the service because they simply don’t want to pay — or can’t afford — the higher prices.
Since the end of the pandemic, Lyft’s supply of drivers has reached new heights and so, in some locations at least, it’s in a good position to move away from surge pricing as the drivers in those places should be able to comfortably deal with busier times. The flip side is that it’s led to a reduction in revenue for the company, “but it’s good for our riders, and it’s good for our overall market results,” Risher said.
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