Lyft CEO David Risher recalls the tough conversations with his late mother about the realities of aging.
“One of the most unpleasant conversations I ever had with her was, ‘Mom, I think it’s time for you to turn over the car and keys,’” Risher tells Coins2Day.
His personal experience—coupled with the demographic shift where 80 million people are expected to be 65 and older by 2040—pushed the CEO to consider how the multi-million-dollar rideshare company can better serve older adults. Today, less than 6% of Lyft’s passengers are over 65, according to data provided by the company.
This week, Lyft announced “Lyft Silver” to make their rideshare service more appealing to older adults. Risher thought of his mom, who embodied the desires of many older adults: eager to stay involved with those around them and have easy access to travel.
“The physical world is a really important part of our lived experience, and that is only more true as you get older,” says Risher.
The number one priority for Risher during product development was ensuring it would be “easy for people to use.” The program will, therefore, have bigger fonts and fewer options to choose from. During the research phase, the team also found that older adults feared they would do something wrong on a rideshare platform, which could dissuade them from using it. To address this, Lyft Silver will have a more customer-service-enabled button at the top of the screen to address “everything from ‘I’m not sure who my driver is’ to ‘I think I just put in the wrong destination,'” Risher says.
Caregivers and family members are a central part of Lyft Silver. Older adults using the platform can easily share their rides with a loved one or caretaker, who can add money to their balance if needed. And, users will be more often paired with cars that are easier to get in and out of for comfort and space. Lyft partnered with the Foundation for Social Connection Action Network and Self-Help for the Elderly, among other organizations, to help design the feature.
This week, the option to switch your interface to silver is open, and the company will enroll up to 25,000 people in the offering. Monitoring user habits will inform whether or not the service is rolled out in full and under a subscription model. “It’s really just about trying to get as many people to try it and give us feedback,” Risher says.
The rideshare’s rival, Uber, has launched a similar service as more companies recognize that responding to boomer’s needs is a smart economic move.
“It’s good for business, but I think it’s just good for society,” Risher says.