Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Lyft Files S-1

sec.gov

Post reply on HN
Print view View original

51–60 of 405 posts

Re: Lyft Files S-1

#51

Post by jonknee »

randomacct3847 wrote: post #48
untog wrote: post #44

Earlier quoted context omitted.

This is something that always strikes me about the amount of money swilling around in tech. $90M is an absurdly huge amount of money. By absolutely any outside objective measure of work put in to payoff it is off the scale. To look at this as the founders having lost out is almost comical.

Well apparently you can play baseball and make $330m. Yes, it’s a lot, but to build a $30b company and make 90m pre-tax (maybe 50m post in CA) is something... The obvious comparison is Travis Kalanick, who is definitely a billionaire and retained much more of Uber.

On the other hand, the baseball player will create much more than that in value while Lyft has lost billions of dollars. If someone here is underpaid it's not the Lyft founders.

Re: Lyft Files S-1

#52

Post by oneplane »

us0r wrote: post #12

>In January 2019, we entered into an addendum to our commercial agreement with AWS, pursuant to which we committed to spend an aggregate of at least $300 million between January 2019 and December 2021 on AWS services. If we fail to meet the minimum purchase commitment during any year, we may be required to pay the difference, which could adversely affect our financial condition and results of operations. Not as bad a…

Even medium retail easily does 10 million per month.

Re: Lyft Files S-1

#53

Post by bluedino »

us0r wrote: post #12

>In January 2019, we entered into an addendum to our commercial agreement with AWS, pursuant to which we committed to spend an aggregate of at least $300 million between January 2019 and December 2021 on AWS services. If we fail to meet the minimum purchase commitment during any year, we may be required to pay the difference, which could adversely affect our financial condition and results of operations. Not as bad a…

That would buy a couple racks worth of servers and plenty of ops staff wouldn’t it?

Re: Lyft Files S-1

#54

Post by Ozzie_osman »

randomacct3847 wrote: post #7

Biggest thing I noticed is that the cofounders only own a little more than 1m shares each, which is less than .5% each! Painful amount of dilution....wow.

The S-1 notes a lot of RSUs and options outstanding, that I assume are owned by the founders (and employees). So I assume when those kick in it'll be more than that.

Re: Lyft Files S-1

#55

Post by 0xB31B1B »

us0r wrote: post #12

>In January 2019, we entered into an addendum to our commercial agreement with AWS, pursuant to which we committed to spend an aggregate of at least $300 million between January 2019 and December 2021 on AWS services. If we fail to meet the minimum purchase commitment during any year, we may be required to pay the difference, which could adversely affect our financial condition and results of operations. Not as bad a…

Running fraud detection models

Giant EMR clusters to develop fraud models

Running a giant dynamic marketplace

Running giant EMR jobs for pricing/demand

Re: Lyft Files S-1

#56

Post by adjkant »

danielvf wrote: post #25
randomacct3847 wrote: post #7

Biggest thing I noticed is that the cofounders only own a little more than 1m shares each, which is less than .5% each! Painful amount of dilution....wow.

Yeah, this shows Lyft as having gone through ten rounds of funding with the last one being a "Series I" round. I've not seen that too often before!

I read that as "Series 1" and had to do a double take.

Re: Lyft Files S-1

#57

Post by jonknee »

pastor_elm wrote: post #50
untog wrote: post #44

Earlier quoted context omitted.

This is something that always strikes me about the amount of money swilling around in tech. $90M is an absurdly huge amount of money. By absolutely any outside objective measure of work put in to payoff it is off the scale. To look at this as the founders having lost out is almost comical.

> $90M is an absurdly huge amount of money. is it? A 10 million dollar house isn't all that special in a lot of parts of the country. A family worth 90 million can still have a lot of financial anxiety.

> A family worth 90 million will still have a lot of financial anxiety

My god, get out of the valley for even 2 minutes. $90,000,000 is an obscene amount of money literally anywhere in the world.

Re: Lyft Files S-1

#58

Post by teej »

untog wrote: post #44
Fordec wrote: post #24

Earlier quoted context omitted.

Still, a $150M-90M personal net worth at the 18B-30B valuation window. They're not going to starve either.

This is something that always strikes me about the amount of money swilling around in tech. $90M is an absurdly huge amount of money. By absolutely any outside objective measure of work put in to payoff it is off the scale. To look at this as the founders having lost out is almost comical.

The founders (theoretically) created $20B in value and you think $90M is sufficient compensation?

$90M is definitely enough to be more than comfortable the rest of your life. But a $5B payout would have meant they could start a VC firm, invest in the next several generations of startups, partially self-fund something ambitious like a Space-X, start funded non-profits, etc.

Re: Lyft Files S-1

#59

Post by fullshark »

SilasX wrote: post #40
IAmGarrett wrote: post #20

Earlier quoted context omitted.

Crunchbase lists 19 funding rounds. They've gone through the ringer.

Weird, I didn't think they were that cash-starved for most of their history.

They were rumored to be for sale 3 years ago and no one wanted them. They seemed to be on deaths door.

Re: Lyft Files S-1

#60

Post by CondensedBrain »

bluedino wrote: post #53
us0r wrote: post #12

>In January 2019, we entered into an addendum to our commercial agreement with AWS, pursuant to which we committed to spend an aggregate of at least $300 million between January 2019 and December 2021 on AWS services. If we fail to meet the minimum purchase commitment during any year, we may be required to pay the difference, which could adversely affect our financial condition and results of operations. Not as bad a…

That would buy a couple racks worth of servers and plenty of ops staff wouldn’t it?

Then they slowly turn into a datacenter company and lose sight of being a ride sharing company. That's the same reason billion dollar companies rent buildings instead of owning them.
Post reply on HN