Lyft is generating a lot of revenue for the economy, as well as working toward a much more eco-friendly driving service.

An FKD Feature exclusive

 

When I first moved to New York City, one of my biggest worries was transportation. I understood very little about subways. I also had been warned that cabs were too expensive. My biggest anxiety about travel in the city was what I should do if it was late at night and I need to get home. Being in school means I’m often not on my way home from the library until midnight.

To help, I started using Lyft at night to ensure I would get home safely. Lyft is a car service controlled by the user with their smartphone. Rates are inexpensive, and the constant bonuses and Lyft line option make it that much more affordable. Not only has Lyft helped me and many others get around, but this company also is having a large impact on the economy and the environment in addition to becoming a worthwhile side hustle for millennials.

Environmental impact

Every year, Lyft releases an economic impact report. This year’s report included the positive environmental impact that this ride-share service provides. There are too many cars on the road, and that creates traffic. The cost of this traffic is $160 billion. That culminates into 7 billion hours of our lives being stuck in a car waiting, as well as an extra 3 billion gallons of fuel. The congestion of cars on the road causes a spike in carbon-dioxide emissions. By using a ride-sharing option such as Lyft, the number of cars on the road should decrease and the emission level should fall.

Lyft also recognized that it has a duty to help the environment. The company has started working toward electric cars and cleaner fuel. In light of the U.S. pulling out of the Paris climate accord in 2017, Lyft created bigger goals to help protect the environment. By the year 2025, Lyft wants to have 1 billion autonomous car rides per year, which would reduce CO2 emissions from vehicles by 5 million per year. An autonomous car is an advanced and much greener way of transportation. These cars are self-driving and have a very small global footprint.

Lyft’s impact on side hustle jobs and the economy

If you are like me and use Lyft, you may wonder about who your drivers are. Most of the drivers use Lyft as a side hustle, with 81 percent of drivers being either full-time students, people looking for employment or people who are employed and use it as extra income. Working for Lyft is also a very flexible job because you are your own boss. A total of 91 percent of the drivers work less than 20 hours a week, making it an easy way to make some money on the side.

In terms of the economy, Lyft is doing a lot. People who utilized its service put $750 million dollars into the economy. Lyft also employees around 315,000 drivers, which means those people have a way of earning an income from a reliable company. Lyft is predicted to become the top ride-sharing app, and that means generating more revenue for the economy as well as helping more people become employed.

Takeaway

Lyft is making life easier. The ride-sharing app is easy to use, safe and provides a quick way to get around. The company is also committed to lowering the amount of CO2 emissions from cars with plans for an autonomous future. Lyft also is generating a lot of money to put back into the economy from this new style of vehicle travel, as well as providing a practical side hustle for students, those who work part-time, and for anyone looking to make a little more. Lyft is an advanced service showing the merger between technology and everyday life.

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Posted 02.13.2018 - 10:00 am EST