Honey, I shrunk the revenue multiple

With new leadership and a soon-to-be-thinned employee base, Lyft is going to look a heck of a lot different at the end of 2023 than it did at the start. After its co-founders said they’d relinquish their roles as CEO and president in March, the company last week said it intends to dramatically cut its staffing by as much as 30%.
The changes were probably necessary. Lyft, as it turns out, is not nearly as valuable a company as its founders and backers once expected. And that’s an odd thing to realize if your startup was able to raise billions while private and eventually price its p

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