Several factors contributed to Lyft's market share doubling since 2015. One of the main factors was the company's strategy of spending on driver subsidies and promotional discounts for riders. This strategy, although it led to a significant cash burn, helped Lyft attract more users and increase its market share. Despite Uber's larger size and twice the cash, Lyft managed to double its market share from 15% to 31%.

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Uber and Lyft's financial performance can be considered quite significant in the gig economy. Despite Uber's larger size, it only has twice the cash as Lyft. However, Lyft's market share has impressively doubled since 2015 from 15% to 31%. Both companies have been investing heavily in driver subsidies and promotional discounts for riders in a bid to capture more market share. This strategy has led to significant cash burn, with Uber reportedly spending over $11 billion since its inception. However, Uber announced for the first time in its history that it will be cash-flow positive for the full 2022. While it's common for tech sector companies to operate at a loss for extended periods, Uber did so for a longer duration than others.

Uber and Lyft's financial strategies, which involve spending heavily on driver subsidies and promotional discounts for riders, could have several potential impacts on their customers. Firstly, these strategies could lead to lower prices for customers in the short term, as the companies compete for market share. However, in the long term, these strategies could lead to financial instability for the companies, which could potentially result in higher prices for customers if the companies need to increase prices to become profitable. Additionally, if either company were to go out of business due to their financial strategies, this could reduce competition in the market, which could also lead to higher prices for customers.

Uber and Lyft could consider several strategies to increase their cash reserves. They could reduce their spending on driver subsidies and promotional discounts for riders, which have been significant cash drains. They could also explore new revenue streams, such as expanding into other transportation-related services or leveraging their technology for other applications. Additionally, they could seek to improve operational efficiency to reduce costs. Finally, they could consider raising additional capital through equity or debt financing, though this would likely dilute existing shareholders' equity.

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