LYFT Inc (NASDAQ: LYFT) Suspends Price Increases in New After a Shooting in Sunset Park, Brooklyn

After a horrific incident where a man in a construction vest and face mask opened fire in a subway car, LYFT Inc (NASDAQ: LYFT) has suspended its price surge. The event, which occurred in Sunset Park, Brooklyn, resulted in the injury of 29 people.

After the incident, people noticed that the fares for Lyft and Uber Technologies Inc (NYSE: UBER) had gone up. The news was met with disgust as many people felt the companies were making it difficult for people who were afraid for their lives to leave the city.

The price increases were due to an automated system 

The companies have since blamed the problem on their automated systems, which register an increased demand and thus increase prices. This explanation is understandable as automated systems cannot be sensitive to the context that leads to an increase in demand.

Lyft has since suspended its price surge across the city, even though Uber has limited this suspension to Brooklyn, where this incident happened.

The incident occurred in the morning and made many people in the city afraid. Many scrambled for ways to leave since they were afraid it was an act of terror. Most people are now afraid to use the subway for fear of another attack.

According to Tricia, who worked in Midtown, she and many colleagues are afraid to use the subway. Fortunately, their employers are paying for them to use Lyft and Uber to get to the office.

Uber only suspended price surge in Brooklyn 

Katie Kim, a spokesperson for Lyft, assured customers that the price surge had been suspended in the afternoon. A spokesperson for Uber, on the other hand, stated that the company had capped all prices. However, she did not give a specific amount. Uber only suspended the increased prices in the Brooklyn borough.

Many people have expressed their disappointment with Uber. Subways are now not working, and people have to pay for a ride-hailing service to move about the city. Uber still appears to cost significantly more than Lyft, as the former has refused to suspend price increases throughout the city.

Uber has stated that people charged more to leave Sunset Park after the incident will get a refund. The company’s spokesperson stated that the company supports the victims.

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Published by Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing. http://www.facebook.com/ben.rouss