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A 500 Million Dollar Lyft

GM Lyft Partnership

GM invested 500 million dollars into the ride sharing company, Lyft, today. Lyft’s biggest competition Uber is backed by the Alphabet (Google).

Both companies are in the race to win out with self-driving cars. The world of the Jetsons is soon to be upon us people.

I have no idea which horse is winning the race, but both companies are in it to win it. Uber has a model of being more professional and similar to a cost effective private driver service. Whereas Lyft is much more like a friend picking you up.

Both models have proven to be successful as Lyft and Uber have skyrocketed, and I’m sure both companies made a pretty penny taking home the drunk and celebratory folks on New Year’s Eve.

GM is already promised to rent out vehicles to driver, allowing those who previously didn’t have a vehicle access to one and to drive others around. A major hindrance to Uber sign-ups is that a lot of people don’t have cars, but Lyft is looking to overcome that setback.

The GM Lyft partnership will be similar to the deal that the mustache has with Hertz. 

But, the extra 500 million from GM will help Lyft when the race for self-driving innovation away from Google, Uber, Tesla, and any other players in the game.

I’ve never taken an Uber or a Lyft car, but I think in 15 years driving might become a thing of the past. This might be good though, because I despise tickets.