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The fast-en and the Fare-ious
The fast-en and the Fare-ious

The fast-en and the Fare-ious - PowerPoint Presentation

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The fast-en and the Fare-ious - Description

Two companies business strategies to compete with uber and lyft Megan Knox 1182016 Introductory Microeconomics PPPA 6017 Backstory Two companies Fasten and Fare enter the market to compete against Uber and Lyft ID: 540100 Download Presentation

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drivers fasten uber driver fasten drivers driver uber price service information quantity austin lyft boston market ride sell piece

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Presentation on theme: "The fast-en and the Fare-ious"— Presentation transcript

Slide1

The fast-en and the Fare-iousTwo companies business strategies to compete with uber and lyft

Megan Knox

11.8.2016

Introductory Microeconomics, PPPA 6017Slide2

Backstory

Two companies, Fasten and Fare, enter the market to compete against Uber and Lyft

Fasten’s business model:

Charge drivers a $1 flat feeSees itself as selling information and connecting drivers and passengersThe formal service provider is the driver in a driver-passenger transactionRelies heavily on volumeNo more required “surge” or peak time for customersFare: allows passengers to select drivers upon requestSlide3

A viable contender to uber/lyft?

Fasten making a profit from early success in both Austin and Boston (price > AVC)

Ascended to the top spot in Austin for ride apps in 10 days

Fasten plans to add additional drivers and roll out a “drivers’ lounge”

Price

Quantity

MC

ATC

AVCSlide4

What can we expect for fasten?

Is this a perfectly competitive market?

In Boston, are Uber, Lyft, and Fasten rides indistinguishable?

Is the service really the same?

Price

"At the end of the day, we sell a piece of information to a driver who is the actual service provider […]They move them in the physical world from point A to point B. We sell a piece of information to the driver that someone needs a ride.“

- Fasten COO Vlad Christoff

Quantity

Quantity

Price

Boston

Austin

D

D

1

S

1

S

1

S

2

D

2

S

2