Some tech companies are simply not sustainable and won’t last a year in the new reality.
Uber certainly had cash flow problems before this started, but even companies with healthy cash flow that operate in heavily hit industries are going to feel this. For example, Expedia recently laid off 3,000 if I remember correctly.
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How long does Lyft have? When can Uber raise its prices to become EBITDA positive?
Easier to impress when you start from a smaller amount and don't have a bunch of pet projects to shed.
People are obsessed with this rideshare/gig economy winner take all idea almost like they have to believe it... actually that explains a lot.