Companies like Apple and Microsoft pour billions into Research and Development (R&D) annually to innovate and bolster their products. In 2023, Apple spent $29.92 billion, while Microsoft allocated $27.20 billion to R&D. Their market dominance hinges on R&D outcomes, as without them, they risk being overtaken by competitors. However, in the rideshare sector, the R&D model plays a minimal role in market share. Here, victory is determined by whichever company can attract and retain more drivers, as ridesharing giants such as Uber and Lyft rely heavily on drivers for revenue generation.

Both Uber and Lyft operate on the same premise: transporting riders to their destinations swiftly and conveniently. Consumers favor their business models over traditional taxi services due to the ease of hailing and paying for rides without direct contact with drivers. For riders, the primary desire is simple: prompt pickups and quick drop-offs. Uber's dominance in the industry stems from its superior ability to attract and retain drivers compared to its closest competitor, Lyft. Established in 2009, Uber boasts over 190 million monthly users across 70 countries and invested over $3 billion in R&D in 2023, resulting in a market valuation of $140 billion as of Friday 05/10/24.