A former McKinsey partner believes he can defeat Uber and Lyft by giving drivers better benefits and employee status — and he just raised $45 million to do that (UBER, LYFT)

Will Coleman, CEO of the startup Alto, is pictured smiling at the camera in a white shirt.

Summary List Placement

Uber and Lyft say they’ve been making strides in rebuilding their driver workforce as the economy opens up, but they’re encountering a vastly different labor market and a driver shortage.

Will Coleman, the CEO of Alto, a ride-hailing competitor, told Insider he believes the driver shortage is largely due to better options available. In order to lure drivers back, ride-hailing companies will have to provide more reliable income, he said.

Of course, Coleman is also talking up his own book. His company Alto employs their drivers rather than uses contract labor. That means the company details ⇒

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