Steering Towards an Autonomous Future?

HAHA, PUN. BECAUSE LYFT IS UP NEXT. YEAH. LET'S WELCOME OUR NEXT GUEST, CO-F CO-FOUNDER JOHN ZIMMER AND KIRSTEN KOROSEC. >> ALL RIGHT. HELLO, EVERYONE. JORDAN TOOLY STOLMY LINE. MY WHOLE ENTIRE JOB IS TO GET AS MANY PUNS IN A SINGLE INTERVIEW. LYFT IS CELEBRATING ITS 10-YEAR ANNIVERSARY. WE WERE REMINISCING BACKSTAGE. YOU WERE ON THIS STAGE I THINK IN 2014. IT'S BEEN QUITE A RIDE. >> IT THATS. >> SEE? >> NUMBER ONE. >> I GOT THREE LAUGHS. THAT'S AWESOME. IF YOU COULD HAVE A RE-DO, WHAT WOULD YOU CHANGE? >> HONESTLY, MY OWN PSYCHE. GOING THROUGH — READYING FOR WHAT WE WENT THROUGH THE LAST 10 YEARS. BASICALLY THREE BIG CHAPTERS. WE CAME IN WITH THIS REALLY BIG MISSION OF CHANGING CITIES, MAKING CITIES DESIGNED AROUND PEOPLE NOT CARS, AND WE HAVE

MADE A LOT OF GOOD PROGRESS ON THAT. YOU KNOW, WE DIDN'T OBVIOUSLY FORESEE ALL THE CRAZY CHALLENGES WE WOULD HAVE WITH A COMPETITOR RAISING $3 BILLION OVERNIGHT WITH US HAVING FIVE MONTHS LEFT TO LIVE WITH A PANDEMIC THAT TOOK OUT 70% OF OUR BUSINESS OVERNIGHT. AND THE PRECURSOR OF POTENTIALLY A RECESSION. AND THROUGHOUT THAT, YOU KNOW, I COULD PSYCH MYSELF OUT. HALFWAY THROUGH, I THINK I REALLY LEARNED HOW TO, AS A LEADER, AS AN ENTREPRENEUR, KIND OF GET MYSELF READY FOR ANYTHING. BUT THERE WERE MOMENTS WHERE I WAS KIND OF STUCK. SO THAT'S WHAT I WOULD CHANGE >> SO, DO YOU FEEL LIKE YOU WERE KIND OF GETTING IN YOUR OWN WAY A LITTLE BIT? . >> YEAH. YEAH. EXACTLY. >> SO IT'S KIND OF INTERESTING. BECAUSE WE LIKE TO THINK THAT ONCE YOU REACH SOME SORT OF, YOU KNOW, ANNIVERSARY OR PINNACLE THAT YOU WOULD NO LONGER HAVE

IMPOSTOR SYNDROME. SITTING UP HERE TODAY, ARE YOU ABLE TO PUSH IT ASIDE AND SAY, HEY, I'VE GOT THIS. >> IS I'M IN A MUCH BETTER PLACE. OLDER. I FEEL LIKE I CAN TAKE IT ON. WISH I HAD GOTTEN THERE SOONER. >> YEAH. WE WERE TALKING ABOUT SOME OF THAT CRAZY SHUT. YOU SAID WE FINALLY SURVIVED. WE, AFTER BASICALLY BATTLING IT OUT WITH UBER. >> YEAH. >> — GO PUBLIC. AND THEN COVID COMES. . >> YEAH. >> SO WHEN YOU'RE LOOKING AT ALL THOSE CHALLENGES, WAS IT COVID THAT JUST COMPLETELY TOOK ALL THE OXYGEN OUT OF THE WAY OR A SUSTAINED FIGHT WITH UBER? . >> THE SUSTAINED FIGHT WITH UBER BY FAR WAS THE HARDEST PART OF THE JOURNEY. WE STARTED WITH THIS IDEA TO GET PEOPLE TO RIDE IN OTHER PEOPLE'S CARS. IT WAS A NEW REGULATORY CATEGORY.

RECEIVED CEASE AND DESISTS IN THE FIRST WEEKS OF OPERATION. UBER FOLLOWED WITH UBER X. THEY TRIED TO SHUT US DOWN THROUGH THE PUC. WE HAD FIVE MONTHS LEFT TO HREUF — LIVE IN TERMS OF CASH. THEY WERE BY FAR THE HARDEST MOMENTS. INCREDIBLE TEAM WITH A FOCUS ON THE MISSION AND PASSION FOR WHAT WE'RE DOING WAS ABLE TO GO TO SINGLE DIGIT MARKET SHARE UP TO 30%, 40%, A COUPLE MARKETS NEARING 50%. THAT WAS BY FAR THE HARDEST. SO THEN YOU'RE LIKE, AND WE GET OUT PUBLIC BEFORE THEN. WE HAVE ENOUGH CASH TO SUSTAIN US FOREVER. AND THEN A PANDEMIC TAKES OUT 70%, 80% OF YOUR BUSINESS. IT WASN'T THE HARDEST. JUST AFTER YOU TAKE A SMALL BREAK THAT IS ALSO QUITE CHALLENGING. >> DURING THE UBER BATTLE DAYS, HOW DID YOU — OR WERE YOU EVEN ABLE TO KEEP UP EMPLOYEE MORALE? IT WAS LIKE A SUSTAINED LONG FIGHT. >> YEAH. IN RETROSPECT, IN SOME WAYS THAT WAS THE MOST PASSIONATE AND

EXCITING MOMENTS. YOU KNOW, WE WERE — IT WAS CLEAR WHO AND WHAT WE WERE FIGHTING. WE BELIEVED IN RUNNING A COMPANY WITH CERTAIN VALUES. TO IMPROVE PEOPLE'S LIVES WITH THE WORLD'S BEST TRANSPORTATION. TO IMPROVE PEOPLE'S LIVES, THERE WAS SOME HUMANITY IN WHAT WE WERE DOING. WE WERE FIGHTING I WOULD ARGUE AN ENTITITY THAT DID NOT SHARE THOSE VALUES OR THAT VISION. IT WAS INCREDIBLE. I JUST SAW ONE OF THE EARLY TEAM MEMBERS VERONICA THERE. IT WAS AN INCREDIBLE MOMENT TO BE IN IT AND EXCITED. >> DO YOU THINK IT'S HARDER, THEN, TO KEEP THAT PASSION BECAUSE THERE ISN'T NECESSARILY, LIKE, I DON'T KNOW, NOT AN ENEMY TO GO AFTER BUT TO KEEP THAT KIND OF LEVEL OF PASSION, EXCITEMENT AS THE COMPANY HAS GROWN? . >> IT CHANGES. >> WE DIDN'T GET INTO THIS TO FIGHT ANOTHER COMPANY. WE GOT INTO THIS TO CHANGE THE WAY TRANSPORTATION WORKS. IF YOU LOOK BACK HISTORICALLY

THROUGHOUT U.S. HISTORY, CANAL INFRASTRUCTURE, RAILROAD INFRASTRUCTURE SHAPED OUR CITIES, SHAPED THE ECONOMY. PEOPLE'S ACCESS TO TRANSPORTATION IS MORE DETERMINANT OF THEIR ABILITY TO PULL THEMSELVES UP THAN SOME STUDIES SHOW THAN EDUCATION. IT IS INCREDIBLY IMPORTANT TO PEOPLE'S QUALITY OF LIFE. SO WE ARE STILL GROUNDED IN THAT. WE ARE FIGHTING FOR THAT. IT'S NOT HARD TO GET FIRED UP. >> SO AS YOU KNOW, HITTING MILESTONES DOES NOT REMOVE ANY CHALLENGES. THERE ARE STILL ONES THAT REMAIN. A NEW ONE HAS KIND OF POPPED UP. THE BIDEN ADMINISTRATION HAS RECENTLY PROPOSED A RULE THAT WOULD, IF ADOPTED — THERE'S A LONG WAY TO GO. IF ADOPTED, WOULD RECLASSIFY GIG WORKERS AS EMPLOYEES. YOU KIND OF ALREADY HAD THAT FIGHT IN CALIFORNIA. SO WHAT IS YOUR STRATEGY AS A COMPANY ON THE NATIONAL LEVEL? ARE YOU GOING TO DO THE SAME THING, PUT THE SAME AMOUNT OF RESOURCES, WHICH WERE

CONSIDERABLE TO FIGHT THIS? . >> YEAH. SO, FIRST, FOR THIS QUESTION, I THINK ABOUT WHAT DRIVERS WANT AND HOW DRIVERS USE THE PLATFORM. I THINK THE REACH OF THE PLATFORM IS STILL SHOCKING TO US THAT ABOUT 5 MILLION DRIVERS HAVE DRIVEN ON THE LYFT PLATFORM ALL TIME. 3% OF THE U.S. WORKFORCE HAS EARNED EARNED TENS OF BILLIONS OF DOLLARS OF WHICH THE FAR MAJORITY DRIVE LESS THAN 90%. YOU CAN TURN ON AND OFF THE APP AND GET IN WHENEVER YOU WANT. DRIVERS WANT TO REMAIN INDEPENDENT CONTRACTORS. THAT'S THE MOST IMPORTANT PART OF THIS. AT THE SAME TIME, WE WANT TO PROVIDE BENEFITS TO THOSE DRIVERS. BUT THE CURRENT LEGAL CONSTRUCT IS BENEFITS ARE TIED TO EMPLOYMENT. AND SO IT'S BEEN A MULTIYEAR, JUST LIKE CREATING THE NEW REGULATORY CATEGORY FOR TRANSPORTATION NETWORK COMPANIES, CREATING THE RIGHT CONDITIONS FOR WORKERS ON THE

PLATFORMS IS REALLY IMPORTANT AND SPEAKS TO THE BROADER MISSION. THE RECENT BIDEN ADMINISTRATION RULING BASICALLY JUST RETURNS THINGS TO THE WAY THEY WERE IN THE OBAMA ADMINISTRATION WHERE ALL OUR DRIVERS WERE INDEPENDENT CONTRACTORS. TYPICALLY WE ARE GOVERNED AT A STATE LEVEL. FEDERAL GOVERNMENT IS IMPORTANT AND MATTERS FOR ALL INDUSTRIES. BUT IT IS REALLY INTERPRETED AT THE STATE LEVEL, OF WHICH I WOULD ARGUE WE HAVE MADE SIGNIFICANT PROGRESS OVER THE LAST FEW YEARS. CALIFORNIA BEING ONE EXAMPLE. . >> AND MASSACHUSETTS AS WELL, CORRECT? >> THAT'S STILL KIND OF — THERE'S THINGS HAPPENING. >> CREATING POLICIES THAT ALLOW FOR INDEPENDENCE PLUS BENEFITS. >> IN CALIFORNIA, AND ALSO POTENTIALLY SOME MASSACHUSETTS, DEPENDING ON HOW THIS — IF IT DOESN'T GO YOUR WAY IN MASSACHUSETTS, LET'S SAY, OR EVEN ON THE FEDERAL LEVEL, EVEN AS INDEPENDENT CONTRACTOR, IT DOES PUT PRESSURE ON YOUR BOTTOM

LINE, DOESN'T IT? . >> SURE. IN A HYPOTHETICAL SITUATION, IF THAT WAS — WHICH I DON'T FORESEE TO BE HAPPENING, FIRST, IT'S IMPORTANT TO TALK ABOUT THE EXPERIENCE. PEOPLE SAY, WELL, WHAT'S SO HARD ABOUT DOING THAT? AND WHY IS THAT BAD FOR THE DRIVER? IF EVERYONE ON THE PLATFORM WAS AN EMPLOYEE, THE SECOND THEY TURN ON THE APP THEY WOULD START COLLECTING INCOME. WOULDN'T EVERYONE JUST TURN ON AN APP WHERE YOU START GETTING INCOME. SO THEN WE WOULD CREATE SHIFTS IN THAT CASE. WHEN YOU CREATE SHIFTS, IT DOESN'T GIVE DRIVERS THE TYPE OF FLEXIBILITY THEY WANT TO BEGIN WITH. SO, ONE, JUST TO PLAIN ONE OF SEVERAL REASONS WHY THAT IS NOT THE PWBEST SOLUTION, YOU CAN FI A WAY TO MAKE EVERYTHING WORK. I THINK IT ENDS UP WITH A LOT LESS DRIVERS AND CONDITIONS THAT I DON'T BELIEVE DRIVERS WOULD LIKE COMPARED TO THE SITUATION TODAY.

>> THERE'S OTHER INTERESTING RENEWED PRESSURE. UBER IS ALWAYS THERE IN THE BACKGROUND. BUT WE HAVE SEEN A RESURGENCE IN THE TAXI INDUSTRY LIKE IN NEW YORK AND SAN FRANCISCO. ALSO DURING COVID, CAR OWNERSHIP WENT ON UP. THESE NEW/OLD PRESSURES. I'M WONDERING HOW LYFT OUTMANEUVERS, ANOTHER PUP BY THE WAY, THESE OLD AND NEW SORT OF PRESSURES ON THE BOTTOM LINE OPERATIONS. . >> IT'S THE CUSTOMER EXPERIENCE. WE NEED TO CONTINUE EVOLVING THE CUSTOMER EXPERIENCE TO MAKE IT BETTER THAN OWNING A CAR. OR EVEN PROVIDING SERVICES FOR THOSE THAT DO OWN A CAR. THE BROAD VISION IS WHENEVER YOU NEED TRANSPORTATION, WHETHER IT'S A RAID SHARE VEHICLE, RENTAL CAR, THAT LYFT PROVIDES YOU WITH THAT BEST ALTERNATIVE. SO I WOULD SAY IT'S BEING CUSTOMER ORIENTED. WE, SINCE THE BEGINNING, HAVE DONE 3 BILLION RIDES. MORE THAN A THIRD OF THE U.S. POPULATION HAS TAKEN A RIDE WITH LYFT.

OVER 112 MILLION UNIQUE PEOPLE. SO WE HAVE THIS INCREDIBLE REACH AND ABILITY TO PROVIDE BETTER AND BETTER TRANSPORTATION SERVICES TO THAT BROAD USER BASE. >> SO IS IT JUST ABOUT EXPERIENCES OR IS IT FINDING GROWTH IN NEW AREAS? YOU HAVE BIKES. HOW SUBSTANTIAL OF A REVENUE CONTRIBUTOR IS THAT? AND IS THERE GROWTH THERE. >> I CAN'T GIVE SPECIFIC FINANCIALS. BUT SPECIFIC TO WHAT WE TALKED ABOUT, WE HAD THE LARGEST BIKE SHARE PROVIDER IN NORTH AMERICA N. '21 WE DID 45 MILLION RIDES ON BIKE SHARE JUST TO GIVE A SENSE OF SCALE. THAT IS LARGER THAN B.A.R.T., THE TRANSIT SYSTEM HERE. IF YOU CALL CITI BIKE EUFTSD IS ACTUALLY LARGER, THE NEW YORK BIKE SHARE SYSTEM WE OWN IS LARGER THAN B.A.R.T. IT IS THE 25th LARGEST TRANSIT SYSTEM IN THE UNITED STATES. PLACES WHERE WE HAVE GOTTEN TO DENSITY OF BIKE SHARE AND ADDED E BIKE, AN INCREDIBLE PRODUCT THAT THE TEAM DEVELOPED, IT'S GETTING TO A REAL SIGNIFICANT

SCALE. >> HOW COME YOU HAVE NOT EMBRACED OR SWRUFPLD INTO DELIVERY AS A GROWTH OPPORTUNITY AND REALLY INSTEAD STEADFASTLY SAID YOU'RE NOT GOING TO DO THAT AND TAKE THE UBER EATS ROUTE, FOR EXAMPLE? . >> A TRILLION DOLLARS IS SPENT EVERY YEAR. THERE'S SO MUCH MORE TO BE DONE IN THIS SPACE. IF WE FOCUS ON TRANSPORTATION WHICH, AGAIN, HAS MANY DIFFERENT VERTICALS, YOU CAN BUILD ONE OF THE LARGEST COMPANIES EVER BUILT. EVEN BY FOCUSING ON THE REGIONS WE ARE IN. FOCUS IS REALLY, REALLY IMPORTANT. WE CAN HAVE PARTNERSHIPS IN OTHER AREAS. I THINK THAT ALLOWS US TO BEST COMPETE AND DELIVER FOR OUR CUSTOMERS. >> FOCUS IS IMPORTANT. BUT DIVERSIFYING IS ALSO IMPORTANT. DURING COVID WE DID SEE RIDE HAILING REALLY TOOK A HIT. AND DELIVERY WAS A BIT OF A BRIGHT SPOT.

WHEN THAT HAPPENED WERE YOU LIKE, UH, I REALLY WISH I HAD DIVERSIFIED MY BUSINESS? . >> YEAH. WHAT IS TEMPORAL AND WHAT IS PERMANENT. I WOULD ARGUE COVID IS POSTALLY PAST US. WE DID WORK ON SOME B2B DELIVERY. THERE ARE RETAILERS THAT WANT TO GO DIRECT THROUGH DELIVERY. AND WE CAN PROVIDE THEM WITH A CERTAIN AMOUNT OF DELIVERY AS A PLATFORM. SO I THINK THAT'S BEEN SMART. BUT WE'RE PAST, AGAIN, I WOULD ARGUE AND ARE LOOKING AT A POTENTIAL RECESSION. IN A RECESSION TRANSPORTATION HISTORICALLY IS ALWAYS STABLE. IT'S A NECESSARY THING PEOPLE NEED. AND $30 SALADS FOOD DELIVERY IS NOT STABLE IN A RECESSION. I'M NOT SAYING IT'S A HARD BUSINESS. BUT THERE IS A HIGHER ROI. IT'S ON US TO MAKE SURE WE BALANCE THE NEAR TERM AND LONG TERM. >> ANOTHER GREAT AREA WHICH IS A LITTLE BIT MORE FUTURISTIC, IT'S

CERTAINLY NOT NEAR TERM, IS AUTONOMOUS VEHICLES. AND LYFT DID A BIT OF A U-TURN — ANYONE? NO. YAY. SOLD THEIR TECHNICAL UNIT FOR DEVELOPING AUTONOMOUS VEHICLE TECHNOLOGY, AND REALLY IS NOW DOING THIS NETWORK EFFECT, PARTNERING WITH COMPANIES LIKE MOTIONAL. AND I'M WONDERING WHAT IS THE TIMELINE, FROM YOUR VIEW, NOT TO JUST COMMERCIAL LAUNCHES, BUT THERE IS AN APPRECIABLE AMOUNT THAT LYFT IS CAPTURING FROM THIS. >> YEAH. I'VE GOTTEN THESE PREDICTIONS WRONG. IT FEELS LIKE — I HAVE TWO KIDS NOW. IT IS THE ARE WE THERE YET? YOU SAY 20 MINUTES. 20 MINUTES LATER, YOU SAY IT'S 20 MINUTES. I THINK WE ARE A COUPLE YEARS AWAY. YOU HAVE TO GET THE COST DOWN. IT WILL HAPPEN. I STRONGLY BELIEVE. IT'S NOT A MATTER OF NOT IF BUT WHEN.

THE GOOD NEWS IS WE HAVE A BUSINESS THAT CREATES REVENUE AND PROFIT. DOESN'T NECESSITATE THAT HAPPENING TOMORROW. YOU WILL NEED TO HAVE A HYBRID WITH DRIVERS AND AUTONOMOUS VEHICLES. THEY CAN DO LESS THAN 1% OF USE CASES WITHOUT A DRIVER. MAYBE THEY WILL GET TO 10% IN THE NEXT FEW YEARS. MAYBE BEING ON AT&T, VERIZON AND MAKING 1 OUT OF 10 CALLS. THAT WOULD NOT BE A GOOD NETWORK TO BE ON. ON LYFT, YOU MIGHT GET 10 OUT OF 10. NINE WILL BE FROM THE DRIVER COMMUNITY. SO I THINK WHAT WE DO IS SUPER IMPORTANT AND CAN FLEX AS THAT TECHNOLOGY IS READY. >> IS YOUR AIM TO PARTNER WITH EVERY SINGLE AUTONOMOUS VEHICLE COME OUT THERE, OR ARE YOU BEING AS STRATEGIC — IF YOU ARE BEING STRATEGIC WHAT IS MAKING YOU PICK ONE OVER THE OTHER? >> I THINK THERE'S A CERTAIN BAR OF ANY PAST PARTICULAR THERE I IN AV. AV, IT'S SAFETY. AND LIKELIHOOD TO GET OVER THIS

EXTREMELY DIFFICULT TECHNICAL CHALLENGE. I WOULD SAY THERE IS A BAR. I THINK IT'S TOO EARLY TO PICK ONE WINNER. TODAY IT'S ABOUT HAVING MULTIPLE PARTNERS. TEN YEARS FROM NOW, TOO HARD TO PREDICT. BUT TODAY THAT IS IMPORTANT TO DEVELOP. >> I'M GOING TO SAY THE TESLA FSD IS NOT A SELF-DRIVING VEHICLE. BECAUSE THE DRIVER HAS TO BE IN THE LOOP. BUT MORE AND MORE RIDE HAILING DRIVERS ARE USING TESLAS. DOES LYFT HAVE A POLICY OR WILL IT WHETHER DRIVERS CAN USE SFD BETA SOFTWARE WITH PASSENGERS IN THE BACK? HAVE YOU TALKED ABOUT THAT INTERNALLY? . >> THERE'S PROBABLY BEEN A FEW CONVERSATIONS THAT, YOU KNOW, SOMETHING THAT COULD BE POTENTIALLY TALKED ABOUT. WE DO NOT HAVE A POLICY CURRENTLY. WE THINK THE REGULATORS ARE THE BEST WHEN IT COMES TO THAT. MORE AND MORE ARE TURNING TO

ELECTRIC VEHICLES BECAUSE AS GAS PRICES RISE AND EV PRICES COME DOWN FOR A DRIVER OWE LYFT TA UTILIZES THE VEHICLE FAR MORE THAN THE AVERAGE CONSUMER, THE PAY BACK ON THAT BATTERY IS MUCH FASTER. SO THE ECONOMICS MAKE SENSE FOR MORE AND MORE DRIVERS. >> IT MAKES SENSE ON THE ELECTRIC PIECE. BUT I WOULD ARGUE REGULATORS HAVEN'T STEPPED IN, ACTUALLY, WITH TESLA AND FSD. IT IS VERY EXPERIMENTAL. REALLY WE ARE ALL KIND OF LIVING IN ELON'S BETAVERSE, IF YOU WILL. AND I'M WONDERING IF IT IS GOING TO COME DOWN TO THE PRIVATE SECTOR TO SORT OF SAY, ACTUALLY, WE DON'T — WHEN YOU'RE DRIVING, GIVING PEOPLE RIDES, WE REQUEST THAT YOU ARE NOT USING THAT SORT OF BETA SOFTWARE. WE WILL CONTINUE TO ASSESS. WE ARE NOT THE BEST REGULATORY BODY FOR KIND OF THE ENTIRE INDUSTRY. BUT OBVIOUSLY DRIVER AND RIDER SAFETY IS OUR TOP PRIORITY. AND, TO YOUR POINT, IS SOMETHING THAT WILL CONTINUE TO BE LOOKED AT.

>> DO YOU SEE EVENTUALLY WHEN THIS REALLY COMES TO A LEVEL HOW THE MAKEUP WILL BE BETWEEN ROBOTAXIS. IS THE AIM TO HAVE OVERALL GROWTH OR A 50/50 SPLIT. HOW ARE YOU THINKING ABOUT THAT? . >> I THINK THERE WILL BE OVERALL GROWTH SUCH THAT I CAN'T IMAGINE IMAGINE ANY TIME IN THE NEXT DECADE PLUS WE WOULD NEED ANY LESS DRIVERS. >> AS THEY CONTINUE TO IMPROVE IS THAT MORE AND MORE RIDES STILL TODAY, WHAT WE DO IN OUR INDUSTRY REPRESENTS 1% OF VEHICLES TRAVELED. AUTONOMOUS YOU CAN GO 2, 5, 10. SO THERE'S MUCH MORE ROOM FOR GROWTH OF OVERALL BUSINESS. I DON'T SEE ANY PATH WHERE THERE'S LESS DRIVERS. IN FACT, AS THAT KEEPS HAPPENING, YOU CAN ARGUE YOU WILL STILL NEED MORE EVEN IF THEY ARE DOING 90, 80, 70, 60 PERCENT OF RIDES. THE OVERALL PIE IS GETTING MUCH BIGGER. >> I WANT TO GO BACK TO THE BEGINNING. YOU WERE TALKING ABOUT YOUR PSYCHE.

AS AS A FOUNDER AND HOW YOU HAVE NAVIGATED THAT AND YOU HAVE PUBLICLY TALKED ABOUT YOUR DEPRESSION AND HOW THAT HAS CHANGED YOU AS A FOUNDER. HOW HAS IT INFORMED HOW YOU HAVE RUN YOUR BUSINESS AND EVEN MENTAL HEALTH POLICIES WITH YOUR COMPANY? . >>. >> YOU THINK ABOUT TEAM MEMBER PRODUCTIVITY. THE BEST WAY TO GET TEAM MEMBERS BEING HIGHLY PRODUCTIVE AND BUILDING A PHENOMENAL BUSINESS IS THAT THEY ARE HAPPY AND HEALTHY. WE HAVE ADDED MENTAL HEALTH BENEFITS, WELLNESS BENEFITS. BUT ALSO JUST RUN THE COMPANY AND BUSINESS WITH EMPATHY. MY BACKGROUND IS IN HOSPITALITY NOT TECHNOLOGY. OUR TEAM MEMBERS. THAT IS THE DRIVES, THE RIDERS. AND I THINK AS ANY LEADER BEING EMPATHETIC, HAVING YOUR OWN PERSONAL EXPERIENCES AND USING THAT TO INFORM HOW YOU CONTINUE TO LEAD IS A GOOD THING. >> BEING EMPATHETIC IS ONE THING. KIND OF DECIDING YOU WILL

PUBLICLY TALK ABOUT IS A VERY DIFFERENT THING. SO WHAT COMPELLED YOU TO DO THAT? WHY WAS THAT IMPORTANT TO TELL THE WORLD? >> I THINK IT'S IMPORTANT TO NORMALIZE IT. IF YOU SURVEYED 10 PEOPLE THAT HAVE EXPERIENCED SOME FORM OF SADNESS OR DEPRESSION OR ANXIETY, YOU'LL COME BACK WITH A PRETTY HIGH NUMBER. I DON'T KNOW THE CURRENT COUNT. BUT IT COULD BE SOMETHING LIKE 50% OF THAT GROUP. YOU'VE GOT TO NORMALIZE IT. SO BY TALKING ABOUT IT — OR NOT TALKING ABOUT IT IS NOT HELPING IN THAT WAY. SO I THOUGHT ABOUT IT MORE IN THAT WAY. FOR ME, IT'S NOT A BIG DEAL TO TALK ABOUT IT. I THINK IT WOULD BE DETRIMENTAL TO NOT TALK ABOUT IT. . >> AND THEN THE MENTAL HEALTH POLICIES, IS THAT JUST FOR YOUR FULL TIME STAFF,S OR ARE YOU WORKING ON EXTENDING IT TO YOUR DRIVERS? . >> THAT'S BEEN FOR THE FULL-TIME

TEAM MEMBERS AT LYFT TO THIS POINT. >> WOULD YOU — WHEN YOU THINK ABOUT GIG WORKERS, THEY'RE ON THE FRONT LINE. HAVE YOU THOUGHT ABOUT HOW TO SUPPORT THAT REALLY IMPORTANT GROUP? >> YEAH. WHEN YOU ALTHOUGH AT FLEXIBILITY PLUS BENEFITS, THAT IS THE IDEA. THAT IS WHAT WE WANT TO DO. A YEAR INTO STARTING LYFT, WE DIDN'T START WITH THIS IDEA THAT HOLY SHIT, 3% WOULD EARNED TENS OF BILLIONS ON THE PLATFORM. WE DIDN'T REALIZE THAT HAPPENED. YOU START SEEING THAT, AND YOU FEEL AN INCREDIBLE AMENT OF RESPONSIBILITY. I WENT TO GENERAL COUNSEL AND SAID, HEY, WHAT TYPE OF HEALTH BENEFITS CAN WE PROVIDE FOR DRIVERS? THAT'S WHEN I REALLY LEARNED DEEP THERE ON THE CURRENT CONSTRUCT OF EMPLOYMENT BEING WHAT IT IS AND WHAT WE TALKED ABOUT AND PROVIDING CERTAIN LIMITATIONS. I THINK THERE IS AN OPPORTUNITY. AND WE'RE GOING TO CONTINUE TO WORK WITH POLICYMAKERS TO MAKE THAT MORE TRUE.

>> OKAY. WE'LL SEE WHAT YOU COME UP WITH ON THE STATE SIDE AND POTENTIALLY ON THE FEDERAL SIDE. . >> THAT'S GOOD. >> THANKS FOR JOINING US. JOHN'S PARENTS ARE IN THE AUDIENCE. SO LET'S GIVE HIM