Speaker 1: Ride sharing company Lift reported first got a results and guidance.
Speaker 1: The beat investors expectations really send you the shares of
Speaker 1: the company higher. Joining us now is the Lift CEO
Speaker 1: David Rische on set in San Francisco. There was something
Speaker 1: interesting you said, which is you'd made improvement in both
Speaker 1: rider retention and new riders, and you've made some progress
Speaker 1: in Canada. But actually I wanted more specifics on what
Speaker 1: you did to achieve that.
Speaker 2: Yeah, so I break it down like this. First of all,
Speaker 2: it's good to be here. Second of all, I break
Speaker 2: it down like this. First, you got to get the
Speaker 2: basics right. We call it ride share perfection. That's all
Speaker 2: about pricing, rate, paying drivers, right. Picking you up fast
Speaker 2: our ETA is that's what we call them. How fast
Speaker 2: we pick you up are faster they've been in four years.
Speaker 2: So those are the basics. Once you do that, then
Speaker 2: you can build on top of that. Then you can
Speaker 2: do things like innovations around how fast can we pick
Speaker 2: you up for the airport, for example. One of my
Speaker 2: favorite example. I think last time you and I talked,
Speaker 2: we had just rolled out this on time pickup promise,
Speaker 2: and now less than one point five percent of people
Speaker 2: are being picked up so late that we have to
Speaker 2: give them one hundred bucks. So after the basics, then
Speaker 2: you innovate and then you partner with other people. We've
Speaker 2: got great partnerships with Chase, with Delta and others. You
Speaker 2: put all those things together and it's a great combinations
Speaker 2: work really well.
Speaker 3: Oh, let's go in on the B to B partnerships, David,
Speaker 3: because I know that you are mobility first. But you
Speaker 3: look at Uber and Instacart yesterday. What other partnerships do
Speaker 3: you have in mind?
Speaker 2: So I probably won't be able to speculate on new partnerships,
Speaker 2: but I can tell you this. You know, I spent
Speaker 2: in my prior career a lot of time in Africa.
Speaker 2: And you're asking where is this going? But the answer
Speaker 2: is in a lot of countries in Africa. There's this
Speaker 2: great expression, if you want to go fast, you go alone,
Speaker 2: but if you want to go far, you go together.
Speaker 2: So you know, as I say, Delta Amazon as a partner,
Speaker 2: we pick up some of the folks at distribution centers.
Speaker 2: LinkedIn as a partner, we actually they overran their parking
Speaker 2: lot when people came back to work, and so we
Speaker 2: help people get back to work. Delta sky miles. Of
Speaker 2: course you can get sky miles, but also we helped
Speaker 2: move their flight crews around, particularly in early morning hours.
Speaker 2: The Eastern partnerships that they're chase with Sapphire, they're real
Speaker 2: deep partnerships. And when you really go deep with someone,
Speaker 2: you know, it's almost like a relationship. You can find
Speaker 2: all sorts of amazing things to do.
Speaker 1: Those are the groups of people you're moving. And as
Speaker 1: you know, I spend a lot of time thinking about
Speaker 1: how people move from A to B. I want to
Speaker 1: go back to ROBOTAXI. Tesla will show us a robotax
Speaker 1: in August. And your competitor Uber has this relationship with Weimo.
Speaker 1: I don't think you have a formal relationship, but if
Speaker 1: Tesla comes to market, you must be thinking about that
Speaker 1: long term.
Speaker 2: Yes, But so first, robotaxes or let's just say, autonomous
Speaker 2: vehicles are going to happen. There's no question here in
Speaker 2: San Francisco. We know they're happening. You see them on
Speaker 2: the street. But we have to think about it this way. First,
Speaker 2: someone's got to make the tech. Then someone's got to
Speaker 2: build the car. Then someone's got to own the car,
Speaker 2: and someone's got to run the network. Right, these are
Speaker 2: four different pieces of business that people have to do.
Speaker 2: We run the network, and it's a very expensive, very
Speaker 2: expansive network that we run every single day, two million
Speaker 2: rides a day. Now, if we need to incorporate, and
Speaker 2: of course we will autonomous vehicles into that, that's great,
Speaker 2: that's fantast it'll increase supply and increase the number of
Speaker 2: different ways. But I don't really look at an initiative
Speaker 2: like theirs and think it worries me. I think that's
Speaker 2: really interesting. It's going to maybe help expand the market.
Speaker 2: And I would say for them, gosh, that's a lot
Speaker 2: to take on at once. And so you know, we'll see,
Speaker 2: we'll see how that goes.
Speaker 3: David, innovation was what you're just talking about. Would you
Speaker 3: ever reconsider innovation in taking more than just people but food,
Speaker 3: but groceries.
Speaker 2: You know, our real focus is on moving people around
Speaker 2: and in specific getting them out of their house. And
Speaker 2: this is where I get a little philosophical. If you
Speaker 2: read any of the sort of articles about kind of
Speaker 2: the health of our nation, we talk a lot about
Speaker 2: sort of political divide, but there's also just a tremendous
Speaker 2: amount of loneliness and people staying at home too much
Speaker 2: and being disconnected from their friends and their family and
Speaker 2: so forth. So I'd say that really is going to
Speaker 2: be our focus. Doesn't mean that, of course, we also
Speaker 2: get people out on bikes. You and I were just talking.
Speaker 2: You've got a great bike system in New York among
Speaker 2: other places, so that's important as well. But I really
Speaker 2: think getting people out and about is really our focus,
Speaker 2: and then we can partner for other things to the
Speaker 2: extent that is important to customers.
Speaker 1: David Our Bloomberg Intelligence and this man Deep Sing and
Speaker 1: I were going through your numbers and trying to see
Speaker 1: if it proved you'd taken market share from Uber Dara Koshtrashah.
Speaker 1: He is coming up next after we've gone off on
Speaker 1: the next program with Bloomberg's Emily Chang. What's your message
Speaker 1: for Dara in terms of whether he should be looking
Speaker 1: over his shoulder in the progress you're making.
Speaker 2: You know, it's so funny. People love, of course, to
Speaker 2: talk about the sort of head to head thing. I
Speaker 2: think our competition is people staying at home. That's our competition.
Speaker 2: I want more people out, I want them connecting with
Speaker 2: other folks. I think it's just a much more interesting
Speaker 2: way to run a business than to sort of always
Speaker 2: focus on your competitor.
Speaker 1: You know.
Speaker 2: Look, they'll go through their ups and downs in their quarters.
Speaker 2: So he's got alarm in his mind.
Speaker 1: It's fine.
Speaker 2: Ask him about all the different things he's got in
Speaker 2: his mind, and we're just going to focus on our riders.
Speaker 3: And drivers on your mind, gen Z, women, corporate travelers,
Speaker 3: who's getting in your cars, who's riding your bikes?
Speaker 2: David, Well, so a lot of women are. I'm glad
Speaker 2: you brought that up. Of course, we have women plus Connect,
Speaker 2: which I'm so so proud of. One of the great
Speaker 2: quotes I heard from a friend recently is when he
Speaker 2: said he was actually talking to his girlfriend and he said,
Speaker 2: why do you like this woman plus connect rider driver
Speaker 2: connection on Lift? And she said, look, I can finally
Speaker 2: take a nap and ride share. I can finally take
Speaker 2: a nap, which I think is so profound. We've had
Speaker 2: something like twenty thousand new women join the platform on
Speaker 2: the driver side just since we've started the program, so
Speaker 2: super important. I'll tell you another thing that's really interesting.
Speaker 2: We're seeing. Of course, commute is happening, but also party time.
Speaker 2: People really are getting out it's after nine or after
Speaker 2: five o'clock and it's going great.
Speaker 3: I am here for party time. David Richer Lift CEO,
Speaker 3: thank you so much for your time today