Recently I encouraged my GF to try Lyft for the first time on what is normally a $10-15 ride from SAN to OB. Instead they quoted her $44. So I just picked her up.

Last time I took a taxi it was about $18 for this route.

Strangely, I checked for a bug and looked at the cost to go to the airport, and it was a normal $16.

Maybe losing half their business and charging luxury prices is the way forward, but the size of that market is a lot smaller.

I am short Uber and Lyft both even though I am generally a fan of both and would prefer they succeed. I just doubt they will.