Lyft don't lower your rates in Denver, Colorado like Uber did - Don't be stupid
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Uber lowered their rates tremendously in Denver, Colorado recently and other cities as well. This fare cut makes it unprofitable to drive. Uber knows this, but by combining their new guarantee this is clearly a move to steal all the drivers who work for both platforms. It will also help stimulate demand, but clearly they are trying to kill Lyft as a company.
I'm not sure what Lyft will do as a company. As a expert on game theory and economics this was brilliantly designed by Uber. Based on past experience you will feel the need to lower your prices. DON'T DO IT. The only way you can do it is to match a guarantee with the driver pay as well. If you can't keep up with the burn rate it will kill Lyft as a business. Hold the line. Uber is only doing it until the end of January.
As a company you can implement pricing in each market. Pricing is more inelastic than you think. Don't lower fares here hold the line. Customers are willing to pay. Drivers are willing to drive.
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