The Corner

Economy & Business

Lyft Isn’t Only Making Rich Men Richer

The New York Times headline: “Lyft’s IPO is making the same circle of men rich, again.” 

Real headline: “Same circle of men makes a lot of people rich, again.”  

In 2012, Lyft did not exist. In 2019, it’s a $24 billion concern that employs thousands of people. Silicon Valley’s venture capitalists and the business ecosystem surrounding them are doing what they are supposed to be doing: Helping to turn big ideas into real businesses — creating value. It’s not like money fell out of the sky on them.  


The Latest