But it doesn’t betoken a path to profitability, in part because the improvement reflected an intensified squeeze on drivers. As Horan calculates, the drivers’ share of bookings fell to 73% in 2018 from 77% the year before—and from 82% in 2016. By his reckoning, if the drivers had only retained their 2016 share of bookings, they would have collected an aggregate of $941 million more by 2018. Instead, that money flowed to Lyft’s bottom line, reducing its losses.

Source: Los Angeles Times March 07, 2019 14:15 UTC