Uber fares in April cost 40% more than they did the same time a year ago.
"We have not seen driver supply keep up with the demand growth in the US," Khosrowshahi said at aAt the same conference, John Zimmer, the co-founder and president of Lyft, said the company saw 25% more interest in driving for the platform from February to May.
Both companies are devoting millions of dollars to driver recruitment and retention. Khosrowshahi told Maureen Dowd at The Times that the aggressive investments in drivers will hurt second-quarter margins."In 2021, there are more riders requesting trips than there are drivers available to give them - making it a great time to be a driver," Dennis Cinelli, an Uber VP, wrote on the company's website.
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