Lyft, Inc. (NASDAQ:LYFT) Q1 2023 Earnings Call Transcript

David Risher: I do. I mean it’s — I have a lot to say about this, but I’ll be very brief today. Autonomy is a big deal. It’s a big deal. And the reason it’s a big deal is because the companies that have invested in it so far have invested, and this is not probably billions of dollars into their platforms. That means that in order for them to make — have any chance at all making a decent ROI or any return on that investment, they got to plug in to effectively use fleet in a very generic way of operators who can bring that volume because it’s going to take a while on the consumer side. These are going to be expensive and sort of niche for some period of time. So very, very important that we position ourselves as being an incredible partner.

Now you know we are doing some experiments in Las Vegas with this. We’ve got cars on the road in kind of a venture there. And the whole point of that is to be very, very ready to be that great partner with the AV guys. I’ll say one last thing. This like AI, I think we will wake up one day and think, wow, where did this come from? Where did AV come from so fast? So right now, the narrative is, oh, it’s always just around the corner, it’s always just around corner. And that’s been true. But if you’re here in San Francisco, and again, this is not hyperbole you can within 5 minutes see 5 cars driving with no one in the front seat. And that’s, again, not hyperbole, that’s lived reality day by day. So what that tells you is this is one of those phenomena that are going to seem below the surface for most people for a fair period of time, kind of background noise.

But when it happens, it will happen fast, and we are positioning ourselves to be very ready for that.

Steven Fox: Great. That’s very helpful. Thank you.

David Risher: Sure.

Operator: There are no more questions at this time. Ladies and gentlemen, thank you for participating. This does conclude today’s conference call. You may now disconnect.