Lyft's Transformation -- From Cash-Burn to Profitability

Under David Risher's leadership since April 2023, Lyft has undergone a dramatic financial turnaround: from years of losses to its first full year of GAAP profitability, $1.12 billion in free cash flow, and record gross bookings of $18.5 billion in 2025. This module covers the strategic decisions that powered this transformation -- including painful layoffs, operational discipline, the FREENOW acquisition, and the $500M share repurchase program -- giving candidates the business context to show they understand what Lyft is building and why.