The Information's TITV
00:15:21 · David Risher
[00:15:21] S3: Yeah, I probably won't go into the business behind the scenes, who splits what revenue, but what I'll say is, so Lyft, if you look at our kind of, what's powered our growth over the last three years, a lot of it has been partnerships, right? We have a partnership with United Airlines, where you can earn miles on Lyft and burn miles on Lyft. We have a partnership with Alaska Airlines. We have a partnership with DoorDash that preexisted this, which gave you discounts on both platforms, and now this kind of evolves it to, you can earn on Lyft and then spend on DoorDash or Lyft. 30% of our rides are tagged to partnership rides. So we've gotten really good over the years at partnering with other, in some cases, very, very large companies, much larger than we are in the case of say United Airlines, to create things that benefit both companies and benefit riders or drivers depending. And I think that's a really sort of interesting, almost an ethos, that is going to work really well for us, for example, in the world of AVs, where again, we're going be partnered with other companies, much larger than we are in some cases, but still trying to create economic benefit for both. And so far we've been pretty successful at that.
00:16:27 · Akash Pasricha, David Risher
[00:16:27] S0: You talked about partnerships. So let's talk about Waymo, which I saw, it looks like you guys are leaning into your partnership with Waymo in Nashville. This comes at a time where Uber... I mean, was an interview with the CEO of Waymo. Looks like Waymo is sort of winding down their relationship with Uber. And so this is an interesting tale of two ride sharing companies here in I terms of mean, the issues around it being a bit of a scrappy or messy experience, not knowing what vehicle you're going to get. That was something that they highlighted with the Uber Why or Waymo are you confident that you are not going to have those same issues? [00:17:14] S3: We're better partners. It's just, and I do think this is [00:17:19] S0: kind Why of though, why are you better partners?
00:17:21 · David Risher
[00:17:21] S3: Sure, so I think a couple things. I think first of all, we're very focused on the customer experience. I don't want to comment on those other guys, but my general view, so for example, I'll give you some stats and then kind of go back to the core of your question. Right now, are markets where we pick you up four to even six minutes faster than the other guys. We price very competitively against the other guys. We have we have a almost a 50 preference. It's like 28% versus 56% driver preference. People who drive on both platforms, they prefer driving on us. Okay. Why would that be the case? It's because we start over and over again with what does the customer want and work backwards from that. Now, so for example, you talk about the relationship and some of the reasons that Waymo has given for that breakup, and part of it is they couldn't figure out a customer experience that really worked well. It was a little bit unpredictable and so forth. We've been in very, very deep conversations with Waymo for a long time on exactly these same issues, We think we've got a great path forward with them. Let me give you the evidence there. We run a big 80,000 square foot depot in Nashville, where we're actually servicing Waymo's cars and doing a really good job there. But we're also providing demand to them, and it's working. The reason I can say it's working is we're expanding the fleet by multiples. It's kind of one of those things where I think companies just have different ways of doing business, and ours is collaborative and generative.
00:18:40 · Akash Pasricha, David Risher, Ashraf Alkarmi
[00:18:40] S0: David, let me ask you one last question before you go. We saw the DoorDash Instacart deal. Yeah. Has DoorDash come knocking on your door at all? [00:18:50] S3: I think they're pretty focused on delivery. I think both of us have a similar philosophy, which is let's really do one thing really well, and then partners with other to create additional value. And I think that's what we're doing with Instacart, really trying to lean in the delivery side. We've had acquisitions in Europe for rideshare. We've had acquisitions around the world actually for rideshare. So I think both of us are going to kind of pursue those types of strategies and then work together how to kind of create these collaborations like Lyft Go. [00:19:16] S0: Great. Well, David, I want thank you for coming on. That is David Risher, the CEO of Lyft, here on TITV. Dropbox announced it is acquiring cloud storage company Tigris Data for $350,000,000 The company also announced its third quarter results, another roughly flat quarter with solid free cash flow margins around 40%. For more on all this, I want to bring on Ashraf Alkarmi, co CEO of Dropbox, for more color. Ashraf, welcome to show. Great to have you back. [00:19:45] S4: Hello. Hello. Thank you for having me again. [00:19:47] S0: Great to have you back. So you bought this company, Tigris, and I was looking at the description of the company. It's more of a developer storage company, and you obviously are more consumer storage. The first thing that came to mind is you couldn't have just built this in house. Why did you have to buy it?
00:20:06 · Ashraf Alkarmi
[00:20:06] S4: So let's start with a little bit of context. So Dropbox is almost celebrating our twenty year anniversary in a couple of months, and that's a huge milestone. For the last twenty years, we've built a lot of incredible infrastructure, and that happened to be an amazing product for people. So basically, have the ability to have a trusted content foundation. You're able to not just store things, but securely share them, apply permissions. And what we found as we started rolling out our own AI capabilities, that we have a structural advantage. People don't want to just use AI. They want to use AI where their content is. They want to be able to use AI in a trusted, safe way. You want to be able to apply permissions and sharing. You don't typically work in a siloed environment, you work with people. And so what we solved for people over the last two decades, we realized there's an opportunity to solve it for agents as well. And as we started thinking more about it, we realized that what we've built over the last twenty years has an insane potential to enable other developers and AI companies to build on top of. And so as we started looking at this, we found Tigris to be an incredible match for us. And I'll explain why. Number one, they have actual thousands of customers who are developers, both AI builders and large known AI companies like fal.ai, for example. And so not only do they have traction, they have a lot of experience building for AI developers. And this is a company that built their product from day one for agentic use cases. So they have capabilities like forking and snapshotting. I'll give you what it translates to in simple terms. If you build agentic or AI workflows, you're gonna get better speed, better latency, and you're gonna be able to do things much faster and closer to your GPUs. So essentially, they've built their product from the ground up in a way that is really compelling. And what we could do with them, the match here, is we can help with taking this to more customers, and we can also help bring the exabyte scale efficient infrastructure we built in our own data centers to that company. So The Match was really great, and it accelerates significantly the opportunity.
00:22:31 · Akash Pasricha, David Risher
[00:22:31] S0: So are you talking to the replets and the lovables of the world about trying to make Tigris or, I guess, whatever you call it, DGX... Is it... DGX... Dropbox cloud? Is that what [00:22:44] S3: you're calling? [00:22:45] S0: Yeah. So we're Are you talking are you talking about them making it the the the de facto developer storage tool? I mean, is that the distribution strategy here?