Uber and Lyft could consider several strategies to reduce their spending. Firstly, they could reduce driver subsidies and promotional discounts for riders, which have been major contributors to their cash burn. Secondly, they could invest in technology to improve operational efficiency and reduce costs. Thirdly, they could explore partnerships with other businesses to share costs. Lastly, they could consider diversifying their revenue streams to reduce reliance on ride-hailing.
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