Although I do think an industry downturn is here/coming, I don't think Lyft is part of the trend. Lyft, specifically, is just a bad company. It has never made an annual profit, will never make an annual profit, and is gravely overstaffed for its operations. Liabilities are approaching assets on the balance sheet. They have to cut somewhere. They already shed their useless little autonomous driving division, and I expect them to just abandon or spin off the bike share.