Weekly "Focus" and Hailing a Ride

On my recent trip to Cleveland, we used the ride-hailing services to travel around the city. What we learned is that it is important to have both Lyft and Uber on one’s mobile phone to be able to compare prices for the same trip. Maybe Cleveland is unique, but we learned that Lyft was substantially cheaper, as much as 40% less than Uber in some cases. An advantage with Uber was the lower wait time for a vehicle to arrive. We still had a driver pick us up, but the robotaxi business is growing in other cities. Google’s Waymo service is up and running in Los Angeles, Phoenix, and San Francisco and Uber will be introducing it in partnership with Waymo in Austin and Atlanta in 2025. Anyone ever try it?

 

	Total Return in 2024	Dividend Yield
Lyft* (LYFT)	-9.8%	0.0%
Uber Technologies* (UBER)	+19.7%	0.0%

Source: FactSet, Values as of November 1, 2024

 

This week’s "Focus" from our economics team is attached.

 

Have a great weekend and don’t forget to set your clocks back an hour,

 

Brad

Senior Portfolio Manager and Senior Investment Advisor