ManiThis is an interesting news video that I came across at Reuters about Lyft taking their IPO to the stock market.
Ride hailing app Lyft is listing on the New York stock market Friday with a lot of investor excitement, but one driver tells Reuters, he’s steering clear of the stock. Lyft is going to the stock market at a time when Uber has announced the acquisition of Careem a Pakistani ride hailing platform operating very successfully in Asia and Middle East.
The gig economy is is a growing sector as more and more people are looking for alternate source to boost or augment their incomes.
Unfortunately, most of the fan fair around traditional gig economy service providers like Fiverr, Freelancer and etc is fizzling and for good reasons. These days if you follow the discussion boards you will see that both service providers and the project owners both are walking away unhappy.
The complexity of the work and need for quality is increasing while the rates are budgets are falling. To make matters worse the fees and charges by the intermediaries are increasing.
Lyft is considering to enter the market with great fan fare but only time will tell if its is going to be worth it for investors, the IPO is priced at the top end of the spectrum reflecting the mindset of most of these service providing platform.
Creating a new technology or app is one challenge, and making it accessible for mass market adoption is another feat in itself. While not true for all innovation, however unfortunately, most new and exciting technologies that we see or hear about in the news fails to reach a value proposition for the masses.
Companies are now working on CX focued tech, AI, and ML to improve their value propositions and force usability.
What I am more interested to learn is if this is a short lived fad or does this actually have any potential for businesses to adopt. Most importantly can it be profitably marketed?
The more technologies like these become mainstream and can me mass marketed, it will reduce costs and improve products adoption.
It is intriguing how this ride hailing apps and gig service providing apps are evolving and impacting our lives.
I try to write about science and technology related developments on my website, one for referencing back when you are writing something or researching, and two to share with everyone.
If you like this story you should check out some of the other stories in the technology category
If you are a tech enthusiast and feel that you can contribute to this topic feel free to reach out to me.
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