Economic Value

"The difference between the perceived benefits gained by a customer who purchases a firm's services and the full economic cost of the services."

One of the amazing things about Lyft is how many times I've heard individuals say that they would much rather use the service than a taxi. Regardless of actually value, there is a true perceived value at play with the company. Of course, it goes without saying that the temporary rental of a car is much better than walking, but a lot of times people will see more value in renting a temporary driver than actually driving their own car on that specific night. 

With the ease of use, Lyft has been able to create a distinct economic and competitive advantage over taxi services in most cities. The problem, as I'm sure we'll get to in later chapters are the competitors that have also created the same sort of economic value with customers. It really feels more intimate than a taxi and that helps people feel like home.