Lyft CEO David Risher: Surge Pricing ‘Deeply Unpopular' With Customers

Lyft found that surge pricing is “deeply unpopular” with customers, CEO David Risher said in his annual letter to shareholders, released Thursday (April 24).Surge pricing, which the rideshare company calls Prime Time or PT, balances supply and demand by raising prices when demand is high, thereby incentivizing more drivers to get online, according to the letter.The company knew this was unpopular with customers, but the issue was clarified when Risher hit the road as a Lyft driver, as he does every six week ...