I agree. In addition to this its main competitor Uber has many other business units (eats, freight, etc) and can reinvest revenue from other countries where it is the leading rideshare provider.
The S1 shows that Lyft on the other hand is loosing a significant amount of money on all trips through its position as the second player in all markets its in.
Lyft is the second player in two markets. In Canada a distant second. Contrast this with Uber that not only has more business segments (eats, freight, etc in addition to rideshare), but is also the largest player in most markets its in.
I simply don't see how Lyft can turn profitable without loosing marketshare when competing against a rival that has profitability it can reinvest from elsewhere.
The S1 shows that Lyft on the other hand is loosing a significant amount of money on all trips through its position as the second player in all markets its in.
How is it supposed to decrease that loss?