The coronavirus has hit the ride-hailing business head on, but subsequent repairs should at least yield a leaner and more sustainable industry model. Disappointing public offerings last year forced the cash-guzzling companies to shift from a race to growth to a race to profitability. While the pandemic has played havoc with their targets, it is at least forcing the industry to speed up aggressive cost-cutting measures it probably should have taken all along.

Source: Wall Street Journal May 08, 2020 11:26 UTC