Lyft needs to show a profit this quarter and this is the way they THINK they can do it.So Lyft decides to begin doing the exact opposite thing that helped them gain ground against Uber, which is the reputation that they treat drivers better, by taking more pay, and now Uber starts doing better so they think lowering rates will fix it. What a vicious and stupid cycle brought on entirely by the fact that both of these idiots just don't get the simple concept that you should actually treat people right and stop messing around with the money, and there will be no problems. It's obviously a game of who is treating people better, but they don't get it yet.
And sadly they'll probably eek out 50 million or so this Q, thanks to grand thefting the drivers.
But if a lot of drivers smarten up and do the following they'll not be profitable.
1. Don't take short deadhead rides and compare the given "x minutes" away with how far it truly is (i.e. Lyft says 4 minutes away and it's more like 1 minute away...which is an amazing flip - before the rate cuts and paid deadheads Lyft always way underestimated how long the pickups really were.)
2. Go long after accepting ride. Rack up the front end pay as much as possible.
3. Refuse any trip over 2.5x your deadhead miles. You won't know this until you arrive, but just tell the pax about rate cuts and that as a contract worker you have to cancel the ride as it's unprofitable. Hopefully causing the pax to switch to RA or Uber.
Death from a thousand cuts.