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Uber and Lyft know they have to raise prices in order to turn a profit. Neither of them wants to make the first move. (UBER, LYFT)

Dara Khosrowshahi

  • Uber and Lyft are playing chicken with each other.
  • Both companies need to raise prices and wean customers off the coupons that helped grow market share in years past if they ever want to turn a profit.
  • Lyft said last week that it tried to cut back on coupons, but didn’t see it matched by Uber, leading it to change course.
  • Analysts agree that rationalization is coming to the ride-hailing industry. But someone has to lead that charge, and so far, neither company seems to want to go first.
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Source:: BusinessInsider.Com