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Factor of production- entrepreneurship

ZimRide, a carpooling service for Cornell Univeristy, was founded in May of 2007 by Logan Green. Green grew up in Los Angeles, California, where he despised the traffic. While in college, he had to utilize public transportation a lot. He quickly realized how broken the public transportation system is. While on his trip to Zimbabwe, he came up with the idea of ZimRide because all the locals carpooled.

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Factor of production - labor

Shortly after creating ZimRide, Green met John Zimmer through a Facebook ad of ZimRide. Zimmer reached out to Green and they met up in New York. They both realized they had the same passion of solving a problem and started working together.

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Factor of production - entrepreneurship

After working together for a couple of years, Green and Zimmer analyzed what was going well in their company and what could they change. They decided they wanted to market more towards the general public, not just college students. Also since phones have been such a huge part of our daily life, they wanted to come up with a mobile version of ZimRide.  ZimRide was sold to Enterprise and Green and Zimmer started working on Lyft.

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Factor of production - labor

Lyft hires drivers for their service. When someone on the app requests a ride, a driver nearby will get an alert to go pick them up. Drivers can earn anywhere from $20-$30+ an hour. Lyft gets 20% of each ride's total.

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Factor of production - land (kind of difficult because Lyft is a digital business)

Lyft started using a big fluffy pink mustache to put on the front of the cars to get attention for their business. The fluffy mustache is made out of acrylic faux fur with polyester. The natural resources made to use include chemicals derived from coal, air, water, petroleum, and limestone. Other natural resources used to build and operate a vechile are steel, rubber, plastics, oil, and aluminum.

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Factor of production - capital

As the company got bigger around the area, Lyft decided to move into their new headquarters at 2300 Harrison St in San Francisco, California.

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Factor of production - capital

After Lyft moved into their headquarters in San Francisco, they began expanding by opening up more offices around the world. Currently there is 24 Lyft offices all around the United States. Lyft also has offices in 5 other countries including Canada, Mexico, Belarus, Germany, and the United Kingdom.