Uber, Lyft tighten belts, revamp business models
Written by Kylea Henseler on June 23, 2020
The coronavirus pandemic sent demand for ride sharing apps into a steep downward spiral while forcing industry giants Uber and Lyft to re-evaluate their business models and user safety strategies.
In the wake of the shutdown, both companies experienced a significant drop in ridership and established new health guidelines for drivers and riders.
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