Lyft’s CEO says these 3 companies are getting business right

Lyft’s CEO has a leaderboard of his favorite companies, and it includes Starbucks.

Speaking in an interview with Sherwood News, released on August 28, CEO David Risher said there were three companies he thought were doing interesting things and getting business right.

Risher joined the ride-hailing company’s board in 2021 and became its chief executive in 2023. The 60-year-old leader was a general manager at Microsoft in the 90s, and also did a stint at Amazon as the senior vice president of US retail.

In the interview with Sherwood News, Risher listed three companies, from small to large, that he admires.

Oura Ring

Sherwood News wrote that when talking about a small company he admired, Risher pointed to the Oura Ring on his finger. He told the outlet that Oura Ring had “nailed the customer experience.”

Oura Ring is a health technology company founded in Finland. It makes smart rings ranging from $199 to $499 that track heart health, sleep patterns, activity, and stress levels, per the company’s website.

“It gives me enough information, and it doesn’t feel naggy,” he said to the outlet. “The technology is super slick and easy.”

Risher added, “They started with a clear idea, they’ve not tried to add 20 different things, and it’s a really good example of a focused and customer-obsessed product.”

Speaking to Business Insider in June, Risher revealed that his Oura Ring was part of his morning routine.

He said he checked the ring’s report every morning after brushing his teeth to get insights into how well he had slept the night before.

Starbucks

Risher said Starbucks was a medium-sized company he thought was doing a good job.

He said to Sherwood News that it was hard to be “consistent across so many geographies” while juggling other facets like their app, loyalty program, and drive-thrus.

Starbucks has outlets in about 80 countries, per its website. The bulk of the stores are in the US and China, with 17,230 and 7,828 stores respectively, per an earnings report released in July.

“Then their beverages change. They go through their cycles, of course, but I think they’ve done a very good job,” Risher said.

Risher’s comments on Starbucks come as the Seattle-based coffee chain is turning around several quarters of weak performance. It saw business slide due to operational problems like long wait times and issues with its mobile ordering system.

Starbucks’ CEO, Brian Niccol, is nearly a year into his work to turn around the brand.

Risher said to Business Insider in June that he’s a coffee addict. He always has a cup of joe in the morning, but he said he’s a Nespresso person.

Microsoft

Risher said Microsoft, and its CEO Satya Nadella in particular, was a big company he thought was doing good business.

Risher, who worked as a general manager for Microsoft from 1991 to 1997, per his LinkedIn, said to Sherwood News, “I think Microsoft went through a period of stasis and a little bit of confusion.”

“I think Satya Nadella has done such a good job of both being a purpose-driven leader, but also showing that he can make incredibly tough, very strategic business decisions that make your company one of the most valuable in the world,” he added.

He said that when he worked for Microsoft in the 90s, it was a “fierce competitor,” and “laser-focused on increasing market share of its products.”

Risher said that with Lyft, he didn’t focus so much on market share, but took pointers from Microsoft on “really understanding what your competitors are good at and really understanding how you can do better.”

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