This is a bad thing. It's the rich getting even richer off the labour of workers. It's an increasing small circle.
They aren't some visionary geniuses who went and founded lyft. They are just guys with money who know the right people.
They aren't some visionary geniuses who went and founded lyft. They are just guys with money who know the right people.
We could also view it as the people who paid for all of their labor for years getting even richer, considering Lyft being unprofitable.
The people who did work were paid by the investors for almost 7 years now (Lyft was founded in June 2012 and is unprofitable to this day), along with some equity.
If Lyft were to fail this year rather than IPO, the employees would walk away with 7 years of great salary and 7 years less of their working life. The investors would walk away with their money gone and wasted.