OF HIGHER MARINING EXPECTED TO
DO WELL, JOINING US RIGHT NOW,
D.A. DAVIDSON SENIOR VICE
PRESIDENT SENIOR RESEARCH
ANALYST TOM WHITE NOICHTD BUY
RATING 75 DOLLARS A SHARE
TARGET PRICE TELL US ABOUT
THAT.
>> THANKS FOR HAVING ME, BUY
RATING ON LYFT A FUNCTION OF
THE NEAR-TERM ON THAT COMPANY
HAD AS YOU MENTIONED THEY HAVE
GONE TO MARKET SHARE IN U.S.,
THE MOMENTUM PLAY IN TERMS OF
U.S. RIDE-SHARING, LONGER TERM
THERE ARE QUESTIONS ABOUT
PROFITINGABILITY HOW LONG TO
GET THERE WE THINK THEY CAN
ACHIEVE PROFITABILITY IN CORE
RIDE-SHARING BUSINESS THEY ARE
AT CORE TWO SIDED MART PLACE
MODEL ONLINE MARKET PLACES
TEND TO ABOUT PROFITABLE
PARTICULARLY IF SORT OF NUMBER
ONE OR NUMBER TWO PLAYER IN
THE MARKET.
>> JAMES FREEMAN AT "THE WALL
STREET JOURNAL," WONDERING AS
YOU LOOK AT LONG TERM VALUE
HOW BIG IS DOES DRIVERLESS
VEHICLES FIT INTO IT?
IS THE VALUATION ASSUMPTION
THAT PRETTY SOON,
TRANSPORTATION IS JUST A
SERVICE YOU APPLY AND A ROBOT
DRIVING LYFT IS IN THE MIDDLE
OF IT OR DO YOU NOT NEED TO
BELIEVE THAT TO LIKE THIS
COMPANY?
>> WELL, I THINK YOU KNOW, FOR
NEXT 12 MONTHS PERIOD I DON'T
THINK YOU NEED TO ABOUT A BIG
BELIEVER THAT AUTONOMOUS
TOTALLY TRANSFORMS LANCE
ESCAPE FOR TRANSPORTATION IN
THIS COUNTRY.
WE THINK THAT THE MARKET FOR
RIDE-SHARING IN U.S. IS
PROBABLY ABOUT
105-BILLION-DOLLAR MARKET.
UBER, LYFT HAVE BEEN ABLE TO
EASY OF PRODUCTS, BEYOND
NATURE OF SERVICES EXPAND
TRADITIONAL MARKET FOR HIGH
FOR FOR HIRE CARS LENGTHER
TERM IF RIDING SHARES PRICES
COME DOWN FUNCTION OF
AUTONOMOUS DRIVING
TECHNOLOGIES OR OTHER MEANS,
POTENTIALLY INCREASED USE OF
SHARED RIDES THAT SORT OF
THING WE THINK ABOU
THING WE THINK ADDU
THING WE THINK ADDRESSABLE
MARKET CAN BE CLOSER TO 1.2
TRILLION DOLLARS AMERICANS
SPEND ON TRANSPORTATION, ARE,
AUTO TRANSPORTATION IN THE
U.S. BUT OUR PRICE TARGET OUR
KIND OF BUY RATING FOR THE
MOMENT SORT OF VIEW THAT LUSH
MOMENT SORT OF VIEW THAT LONH
MOMENT SORT OF VIEW THAT LONG
TERM POSSIBILITY.
>> DAGEN YOU MADE THE POINT
THAT THE COMPANY LOST ALMOST A
BILLION DOLLARS.
I MEAN.
DAGEN: INVITE UP FROM THE
LOSS WAS 600 MILLIONS YEAR
PRIOR BUT WHAT WAS THAT WHAT
IS POTENTIAL FOR THAT NUMBER
TO COME DOWN?
SIGNIFICANTLY IN CURRENT YEAR?
I KNOW THAT IN ROAD SHOW LYFT
WAS TALKING ABOUT AS IT BUILDS
SCALE, IT WILL BE ABLE TO
REDUCE ITS INSURANCE PRICES
THAT IS ONE OF ITS BIG COSTS.
>> YEP ON ROAD SHOW IN WHAT WE
UNDERSTOOD TALKING BE LEVERAGE
ON INSURANCE LEVERAGE
ON PAYMENT PROCESSING, AND I
THINK THE OTHER TWO VERY BIG
LEATHERS ARE INCENTIVES THAT
THEY PROVIDE FOR DRIVERS AND
RIDERS TO TRACK TO MARKETPLACE
THE INVESTMENT IN AUTONOMOUS,
ON INCENTIVE SIDE OF THINGS I
THINK WHAT WILL BE INTERESTING
TO SEE WHETHER OR NOT IPO
UBER, YOU KNOW WE -- PRESUME
HATCHING LATER THIS YEAR
WHETHER A CATALYST FOR A
MODERATION OF THE COMPETITIVE
INTENSITY PRIVATE COMPANIES
UBER AND LYFT FOCUSED ON
GROWTH THE SUSPENSE OF --
PROFITABILITY, TRYING TO
MAXIMIZE METEORITE SHARE, ONCE
PUBLIC COMPANIES, WE THINK A
POSSIBILITY THEY TAKE MORE
BALANCED APPROACH ON GROWTH
VERSUS PROFITABILITY MAYBE YOU
SEE COMPETITIVE INTENSITY
ATTRACTING TRIRZ MODERATE
ATTRACTING.
A LYFT UBER DRIVER IN NEW YORK
CITY I SAID YOU DRIVE FOR LYFT
TOO DID YOU HEAR PRICE RANGE
IS GOING TO BE HIGHER PROBABLY
LOW 70S HE SAID I DON'T EXPECT
THEM TO LOSE 9 HUNDRED MILLION
DOLLARS THIS YEAR BECAUSE
LOSING THAT IBD COULD OF MONEY
TRYING TO TAKE ON UBER AHEAD
OF THE IPO.
TRYING TO CONTAINING MARKET
SHARE SO SPENDING MONEY AT
THIS --
>> I LOT OF DRIVERS HAVE A
STAKE IN THAT YOU WILL GOOD