CNN Business: “Lyft is losing a lot of money. And it might not turn a sizable profit until 2023”By admin_45 in IN THE NEWS
Excerpt from CNN Business quoting DataTrek's Nick Colas:
..... "Colas compared buying Lyft today with owning stock in a railroad company in the 1880s, when they were losing money from building thousands of miles of rail. Eventually, those railroad companies went on to make a lot of money. 'It will be a long, transformative cycle,' Colas said. 'The investor who buys these ridesharing IPOs thinks they know where this cycle is going -- and wants to get ahead of it'....
Read the full article here on CNN Business!