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  • 10.25.16

Lyft’s founder says that transportation will be like Spotify

Here at the Wall Street Journal‘s WSJ.D Live conference, Lyft cofounder and president John Zimmer said that the company is on pace to do 17 million rides in October, a record. Interviewer Rolfe Winkler pointed out that the fact Lyft is subsidizing growth with copious discount offers is probably helping. Zimmer said that’s true—and that the whole idea is to grow market share vs. Uber as quickly as possible, in order to get ready for the era when car ownership gives way to subscribing to a ride-on-demand service.

Zimmer added that in major U.S. cities, Lyft’s network of drivers is now broad enough that it can get a car to a passenger in three minutes or less, a crucial stat he compares to the wireless industry’s need to provide at least three bars of coverage.

HM