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Speaker 1: Bloomberg Audio Studios, podcasts, radio.

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Speaker 2: News lifcio Dave Risha joins us for more. Good morning, David,

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Speaker 2: there's something really interesting in your kind of forward looking

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Speaker 2: strategy commentary on the cool Uber talks about something the same.

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Speaker 2: There are parts of this country, America where ride share

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Speaker 2: is less pervasive, people don't use as much, probably they

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Speaker 2: drive their own car.

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Speaker 1: You want to go.

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Speaker 2: After that market? Why and how so?

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Speaker 3: The answer is we've gotten really good at obsessing over

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Speaker 3: our customers and we want to take it bigger and

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Speaker 3: go bigger. I mean, look, this is our sixteenth consecutive

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Speaker 3: quarter of growth. You know, we're a profitable company. We're

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Speaker 3: generating nine hundred million dollars of cash, and yet yet

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Speaker 3: the rideshare market is still tiny. One hundred and sixty

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Speaker 3: billion rides in the United States every year and we

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Speaker 3: only do a couple three billion between the two of us.

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Speaker 3: So there's so much opportunity. It really is better to

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Speaker 3: be in the back of the car having someone else

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Speaker 3: drive you, and we want to do it in places

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Speaker 3: like Indianapolis and others where you know, the opportunities even

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Speaker 3: bigger cash.

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Speaker 2: When last year on which was just a few weeks ago,

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Speaker 2: we were talking about M and A in Europe, and

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Speaker 2: with respect it was a modest deal. The buy back

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Speaker 2: is clearly well received by your investors. Yeah, but that

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Speaker 2: would indicate that you have some ability to do M

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Speaker 2: and A going forward, you know, do you see that

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Speaker 2: in your capital plans? And if you did buy something,

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Speaker 2: what would it be.

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Speaker 3: So, so, first, thanks for acknowledging it's true.

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Speaker 1: I mean, this is a business that is now.

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Speaker 3: Generating nearly a billion of dollars of cash in the

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Speaker 3: trailing twelve months.

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Speaker 1: So that's a wonderful place to be.

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Speaker 3: Again, huge thanks to the incredible team that has been

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Speaker 3: working so dang hard to make this business not only

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Speaker 3: great for customers, but great for shareholders as well.

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Speaker 1: So now the question is, right, what are other opportunities?

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Speaker 3: I would say our near term focus is making the

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Speaker 3: cash that we've got, you know, putting it to work.

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Speaker 3: As you say, we just acquired free now, which will

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Speaker 3: allow us to expand internationally.

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Speaker 1: You know, nothing more.

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Speaker 3: Obviously to announce right now, aside from the the buyback,

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Speaker 3: of course, but it's created me in a strong position.

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Speaker 3: We've got a strong bound sheet and a strong income statement.

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Speaker 3: So it feels that's a good place to be.

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Speaker 4: And it's a strong position that you managed to fend

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Speaker 4: off Engine Capital David in terms of they were a

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Speaker 4: pushy investor wanting changes potentially at a board level, but they've

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Speaker 4: withdrawn that because of what you've given to the investor

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Speaker 4: base in terms of buybacks, David.

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Speaker 1: Is that a cyber relief?

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Speaker 3: I mean, you know, we talk to investors all the time.

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Speaker 3: I would say maybe not so much the cyber relief

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Speaker 3: as much as just it absolutely allows us to continue

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Speaker 3: to focus on our writers and our drivers.

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Speaker 1: That's sort of the big thing.

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Speaker 3: But it's great that investors are responding so well to

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Speaker 3: what it is that we're doing.

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Speaker 1: Again, share buy back is great.

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Speaker 3: You know, profitable growth, you know, quarter after quarter, that's great.

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Speaker 3: And this is what I've always said, it's customer obsession

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Speaker 3: that drives profitable growth and we're sort of seeing that

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Speaker 3: play out now, and.

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Speaker 4: That customer possession drives innovation, drives autonomous vehicles. I know

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Speaker 4: you're looking at Atlanta, You've got a partnership there. How

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Speaker 4: much are you going to see driverless vehiclesmatically you're going

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Speaker 4: to have safety drivers in the car. What is that

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Speaker 4: going to look like as a pilot?

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Speaker 3: Yeah, so this is a pilot that we're doing with

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Speaker 3: main mobility.

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Speaker 1: First, let's set back.

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Speaker 3: Autonomous vehicles are going to come, right they're here in

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Speaker 3: San Francisco, you see them everywhere. They're obviously in La

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Speaker 3: and Austin and other places as well.

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Speaker 1: They'll come. It'll be many, many years before they're a

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Speaker 1: big deal.

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Speaker 3: But as they come, it's such a great opportunity for

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Speaker 3: ride share and for a lyft because it allows us

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Speaker 3: to provide better service.

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Speaker 1: Using different technologies.

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Speaker 3: As you say, we'll be starting in Lantam in a

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Speaker 3: couple of months middle of the summer. We will start

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Speaker 3: with a sort of a confidence driver, someone else in

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Speaker 3: the car to kind of help make sure that people

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Speaker 3: feel comfortable with what's going on there. It'll be a

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Speaker 3: fairly small scale pilot, but this is something it'll grow

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Speaker 3: into Texas next year with a partnership with mobil I

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Speaker 3: and others, and then we'll just keep building and building

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Speaker 3: and building to the point where drivers are driving millions

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Speaker 3: of people and autonomous vehicles are driving millions of people

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Speaker 3: as well.

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Speaker 2: David, you're a technology CEO, and as such you must

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Speaker 2: field questions on economics and the state of trade and travel.

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Speaker 1: It's our favorite thing to.

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Speaker 2: Du Uber reflected on the idea of cross border travel

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Speaker 2: Canada into the US, the inbound travel into the US

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Speaker 2: being soft business travel. People arrive at airports, are they

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Speaker 2: or are they not doing ride share? What are you

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Speaker 2: seeing through the consumer about the state of this economy.

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Speaker 1: I don't see. We're seeing strength.

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Speaker 3: And I know a lot of people are trying to

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Speaker 3: look ranular where why So.

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Speaker 1: I'll give you a couple of examples.

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Speaker 3: Let's actually go back literally to earlier this week Sincle Demya, right,

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Speaker 3: that's not a holiday, that's necessarily a huge thing. But

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Speaker 3: at the same time we saw one of our biggest

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Speaker 3: sink of demayos. Ever, it's a very very strong day.

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Speaker 3: Let's go back to the end of March. Last week

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Speaker 3: in March was actually our strongest week ever in terms

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Speaker 3: of ride volume. I think what we're seeing here is

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Speaker 3: ridehare has become a very sort of base staple part

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Speaker 3: of so many people's lives that I don't really expect

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Speaker 3: a sort of consumer sentiment fluctuates around to see that

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Speaker 3: much difference. I'll talk about airports for just a second,

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Speaker 3: because you asked airports basically quarter to quarter are flat.

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Speaker 1: It is true.

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Speaker 3: Consumer Excuse me, the commute is going up faster. So

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Speaker 3: if you look at it that way, consumers growing a

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Speaker 3: little bit faster.

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Speaker 1: Ecte me commute. I keep saying that.

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Speaker 3: But you know, again, even when you look at airports, gosh,

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Speaker 3: it's only one in five people who use right here

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Speaker 3: to get to airports in the first place. That means

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Speaker 3: eighty percent is still out there for sort of the

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Speaker 3: you know, the picking. So I think our big focus

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Speaker 3: is trying to expand the market. I don't think that

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Speaker 3: the macro stuff is a big deal right.

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Speaker 1: Now for us.

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Speaker 4: You're growing in Canada, David. And it's interesting. I've asked

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Speaker 4: this time and time again a start of ibm asked

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Speaker 4: a voubask of a view. Is there any impact from

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Speaker 4: being an American brand going into a country such as

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Speaker 4: Canada right now? Because we are hearing of pushback thirty

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Speaker 4: seconds you know, it's.

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Speaker 1: So interesting, No is the real answer.

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Speaker 3: In fact, we've just got authorization to open in Quebec,

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Speaker 3: in the province of Quebec, which which we might have

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Speaker 3: wondered whether it was going to happen given everything going on.

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Speaker 3: So no, we've actually seen acceptance. Actually, Toronto's a big

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Speaker 3: city for us, going super.

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Speaker 4: Well, David Richard, so great to catch up with you

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Speaker 4: about some of the numbers. We appreciate it lift to

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Speaker 4: see it is a pleasure