Lyft Goes Public, Worth $23 Billion

Episode 1579 (03:00)

Lyft

Lyft went public this week, and on shares, it was worth $23 Billion. Leo thinks that Wall Street is banking on a future when these ride-sharing companies will have driverless vehicles. Until then, Lyft has to share the fare with its drivers and even subsidize nearly 40% of what cabs would normally charge. But once driverless cars are the norm, Wall Street believes the profits will come. But the real question is, would you get into a driverless car and trust that the computer will get you to your destination safely? Especially with other human drivers on the road with it?

The other challenge is, will regulators in every state and nationwide approve widespread driverless ride-sharing?