Lyft outlines all the reasons ridesharing could fail, in its IPO documents

Lyft is due to be the first giant tech startup to list its shares on the stock market this year -- and it has laid out all the roadblocks that could derail not only its own business, but the ridesharing industry itself. From dockless scooters and bicycles to self-driving cars, any number of transport modes Lyft has bet on could upend the ride-hailing business that it helped pioneer, according to documents Lyft filed as part of its IPO process. To the extent that Lyft is dependent on drivers, they also are a source of risk to the company, as well as potential regulation stemming from concern over increasingly crowded streets and curb space. Analysts said it was among the most candid assessments yet of the challenges facing the ride-hailing industry, which has historically employed as few as possible in its pursuit of the transportation market, instead depending on thousands of independent "driver-contractors" to support its business. The risks, which are mandatory for companies to detail as part of a stock market listing, are a kind of worst-case scenario for the business.