The Rideshare Arms Race

While the narrative that millennials and Gen Z will bring about the end of personal car ownership is a bit overwrought (and perhaps not entirely accurate), these are still heady days for companies that want to provide rides for people. Uber’s upcoming IPO is perhaps the most anticipated in years, even if its valuation may seem a bit high to some.

Meanwhile, Wall Street analysts are bullish on Lyft’s long-term prospects in the first round of reports written since its IPO on March 29. And if you like being driven around but hate the human interaction of dealing with a driver, Elon Musk has some delightful news for you. In an apparent shot across the bow to established rideshare services (not to mention regular old traditional taxis), Musk said this week that Tesla will have more than one million autonomous robotaxis on the road next year.

Who will be the clear winner, or winners, from all of this ten years from now? No one knows; but it’s clear the battle for rideshare mindshare is only just beginning.