“I recently rode Lyft a few times. The price was considerably lower to the point, that I stopped checking Uber.”
Do you buy on amazon? Do you bother checking around other sites for $30 purchases or do you one click buy knowing it will be priced aggressively and will have it on your door in a few days? This has been amazon’s model for a long time. Be so low priced that customers don’t even bother checking competition. This isn’t my theory I’ve seen it written by their management well over ten years ago. And it sure worked considering they have 50% market share and people like me don’t want to go through the hassle of entering credit card info on another site.
Not sure if that will work for lyft but it might. They have nearly doubled their market share over the past 3 years and remain laser focused on ride sharing while Uber is trying to get into food delivery and freight.