metadata
tags:
- sentence-transformers
- sentence-similarity
- feature-extraction
- generated_from_trainer
- dataset_size:668
- loss:MultipleNegativesRankingLoss
base_model: sentence-transformers/all-MiniLM-L6-v2
widget:
- source_sentence: >-
How does the concentrated control held by the Co-Founders of the company
potentially impact stockholders and the market price of the Class A common
stock?
sentences:
- >-
•inaccuracies in our key metrics and estimates;•our marketing
efforts;•our ability to offer high-quality user support and to deal with
fraud;•changes in the Internet, mobile device accessibility, mobile
device operating systems and application marketplaces;•the
interoperability of our platform across third-party applications and
services;•factors relating to our intellectual property rights as well
as the intellectual property rights of others;•our presence outside the
United States and any future international expansion;Regulatory and
Legal factors•the classification status of drivers on our
platform;•changes in laws and the adoption and interpretation of
administrative rules and regulations;•compliance with laws and
regulations relating to privacy, data protection and the protection or
transfer of personal data;•compliance with additional laws and
regulations as we expand our platform offerings;•litigation resulting
from violation of the Telephone Consumer Protection Act or other
consumer protection laws and regulations;•intellectual property
litigation;•assertions from taxing authorities that we should have
collected or in the future should collect additional taxes;•our ability
to maintain an effective system of disclosure controls and internal
control over financial reporting;•costs related to operating as a public
company;•climate change, which may have a long-term impact on our
business;Financing and Transactional Risks•our future capital
requirements;•our ability to service our current and future debt, and
counterparty risk with respect to our capped call transactions;•our
ability to make and successfully integrate acquisitions and investments
or complete divestitures, joint ventures, partnerships or other
strategic transactions;•our tax liabilities, ability to use our net
operating loss carryforwards and future changes in tax
matters;Governance Risks and Risks related to Ownership of our Capital
Stock•provisions of Delaware law and our certificate of incorporation
and bylaws that may make a merger, tender offer or proxy contest
difficult;•exclusive forum provisions in our bylaws;•the dual class
structure of our common stock and its concentration of voting power with
our Co-Founders;•the volatility of the trading price of our Class A
common stock;•sales of substantial amounts of our Class A common
stock;•our intention not to pay dividends for the foreseeable future;
and•the publication of research about us by analysts.16
- >-
Certain losses may be excluded from insurance coverage including, butnot
limited to losses caused by intentional act, pollution, contamination,
virus, bacteria, terrorism, war and civil unrest.The amount of one or
more auto-related claims or operations-related claims has exceeded and
could continue to exceed our applicable aggregate coverage limits,for
which we have borne and could continue to bear the excess, in addition
to amounts already incurred in connection with deductibles, self-insured
retentions or otherwisepaid by our insurance subsidiary.Insurance
providers have raised premiums and deductibles for many types of claims,
coverages and for a variety of commercial risks andare likely to do so
in the future.As a result, our insurance and claims expense could
increase, or we may decide to raise our deductibles or self-insured
retentions when ourpolicies are renewed or replaced to manage pricing
pressure.Our business, financial condition and results of operations
could be adversely affected if (i) cost per claim,premiums or the number
of claims significantly exceeds our historical experience (ii) we
experience a claim in excess of our coverage limits, (iii) our insurance
providersfail to pay on our insurance claims, (iv) we experience a claim
for which coverage is not provided, (v) the number of claims and average
claim cost under our deductibles orself-insured retentions differs from
historic averages or (vi) an insurance policy is cancelled or
non-renewed.Our actual losses may exceed our insurance reserves, which
could adversely affect our financial condition and results of
operations.We establish insurance reserves for claims incurred
but not yet paid and claims incurred but not yet reported
and any related estimable expenses, and weperiodically evaluate
and, as necessary, adjust our actuarial assumptions and insurance
reserves as our experience develops or new information is learned.We
employvarious predictive modeling and actuarial techniques and
make numerous assumptions based on limited historical experience
and industry statistics to estimate ourinsurance
reserves.Estimating the number and severity of claims, as well as
related judgment or settlement amounts, is inherently difficult,
subjective and speculative.While an independent actuary firm
periodically reviews our reserves for appropriateness and provides
claims reserve valuations, a number of external factors can affect
theactual losses incurred for any given claim, including but not limited
to the length of time the claim remains open, fluctuations in healthcare
costs, legislative and regulatorydevelopments, judicial developments and
unexpected23
- >-
Accordingly, Logan Green, our co-founder, Chief Executive
Officer and a member of our board of directors
holdsapproximately 21.42% of the voting power of our outstanding capital
stock; and John Zimmer, our co-founder and President and Vice Chair of
our board of directors, holdsapproximately 12.63% of the voting power of
our outstanding capital stock.Therefore, our Co-Founders, individually
or together, will be able to significantly influencematters submitted to
our stockholders for approval, including the election of directors,
amendments of our organizational documents and any merger,
consolidation, sale ofall or substantially all of our assets or other
major corporate transactions.Our Co-Founders, individually or together,
may have interests that differ from yours and may votein a way with
which you disagree and which may be adverse to your interests.This
concentrated control may have the effect of delaying, preventing or
deterring a changein control of our company, could deprive our
stockholders of an opportunity to receive a premium for their
capital stock as part of a sale of our company and
mightultimately affect the market price of our Class A common stock.Each
Co-Founder’s voting power is as of December 31, 2021 and includes shares
of Class A commonstock expected to be issued upon the vesting of such
Co-Founder’s RSUs within 60 days of December 31, 2021.Future transfers
by the holders of Class B common stock will generally result in those
shares converting into shares of Class A common stock, subject to
limitedexceptions, such as certain transfers effected for estate
planning purposes.In addition, each share of Class B common stock will
convert automatically into one share ofClass A common stock upon (i) the
date specified by affirmative written election of the holders of
two-thirds of the then-outstanding shares of Class B common stock,
(ii)the date fixed by our board of directors that is no less than 61
days and no more than 180 days following the date on which the shares of
Class B common stock held by ourCo-Founders and their permitted entities
and permitted transferees represent less than 20% of the Class B common
stock held by our Co-Founders and their permittedentities as of
immediately following the completion of our initial public offering, or
IPO, or (iii) nine months after the death or total disability of the
last to die or becomedisabled of our Co-Founders, or such50
- source_sentence: >-
What potential challenges and risks could arise from entering new markets
for bike and scooter sharing, and how could these challenges affect the
company's business strategy and offerings?
sentences:
- >-
This release shall include but is not limited to any rights or claims
under federal, state or local law (whether arising fromstatute,
executive order, regulation, code, or constitution, or other source),
including but not limited to claims arising under Title VII of the
CivilRights Act of 1964, as amended, Section 1981 of the Civil Rights
Act of 1866, the Fair Labor Standards Act (to the extent subject to a
waiver of thissort), the Equal Pay Act, the Employee Retirement Income
Security Act of 1974, as amended, the Civil Rights Act of 1991, the Age
Discriminationin Employment Act of 1967 (“ADEA”), the Americans with
Disabilities Act, the National Labor Relations Act, the Family Medical
Leave Act, theGenetic Information Nondiscrimination Act of 2008, the
Occupational Safety and Health Act (“OSHA”), the Rehabilitation Act of
1973, theWorkers Adjustment Retraining and Notification Act, the
Uniformed Services Employment and Reemployment Rights Act, the Fair
CreditReporting Act, the anti-retaliation provisions of the Corporate
and Criminal Fraud Accountability Act of 2002 (also known as the
Sarbanes-OxleyAct and the Dodd-Frank Wall Street Report Consumer
Protection Act), Cal-OSHA, the California Fair Employment & Housing Act,
the CaliforniaLabor Code, the California Government Code, the California
Family Rights Act, the California Civil Code, the California Business &
ProfessionsCode, each as amended, rights to rehire and reemployment, and
any and all common law claims, including claims sounding in tort or
contract, claimsfor compensation, benefits, equity, or other
remuneration or attorneys’2
- >-
changes to our pricing methodologies or our ability to efficiently price
our offerings could adversely affect our business, financial condition
and results of operations.If we are unable to efficiently grow and
further develop our network of Light Vehicles, which may not grow as we
expect or become profitable over time, and managethe related risks, our
business, financial condition and results of operations could be
adversely affected.While some major cities have widely adopted bike and
scooter sharing, there can be no assurance that new markets we enter
will accept, or existing markets willcontinue to accept, bike and
scooter sharing, and even if they do, that we will be able to execute on
our business strategy or that our related offerings will be successful
insuch markets.For example, in 2021, in New York City, a competing
operator named Joco attempted to launch a bike share program in
violation of Citi Bike’s exclusivity,arguing that New York City could
not regulate Joco because Joco’s stations were in private garages.The
City successfully obtained a preliminary injunction against Joco,with
our support.However, Joco continues to operate in a limited manner and
it is possible Lyft may need to further support the City in additional
legal action against Joco.A negative determination in other legal
disputes regarding bike and scooter sharing, including an adverse
determination regarding our existing rights to operate, couldadversely
affect our competitive position and results of operations.Additionally,
we may from time to time be denied permits to operate, or be temporarily
restricted fromoperating due to public health and safety measures, our
bike share program or scooter share program in certain jurisdictions.For
example, the City of Miami suspendedrentals of bikes and scooters from
March through October 2020 as a result of the COVID-19 pandemic and
again suspended rentals of scooters from December 2020through February
2021 and for a brief period in November 2021 due to concerns with
certain aspects of the program.While we do not expect any denial or
suspension in anindividual region to have a material impact, these
denials or suspensions in the aggregate could adversely affect our
business and results of operations.Even if we are ableto successfully
develop and implement our network of Light Vehicles, there may be
heightened public skepticism of this nascent service offering.In
particular, there couldbe negative public perception surrounding bike
and scooter sharing, including the overall safety and the potential for
injuries occurring as a result of accidents involving anincreased number
of bikes and scooters on the road, and the general safety of the bikes
and scooters themselves.Such negative public perception may result from
incidentson our platform or incidents involving our competitors’
offerings.We design and contract to manufacture bikes and scooters using
a limited number of external suppliers, and a continuous, stable and
cost-effective supply of bikesand scooters that meets our standards is
critical to our operations.We expect to continue to rely on external
suppliers in the future.There can be no assurance we will beable to
maintain our existing relationships with these suppliers and continue to
be able to source our bikes and scooters on a stable basis, at a
reasonable price or at all.Wealso design and contract to
manufacture certain assets related to our network of Light
Vehicles and we rely on a small number of suppliers for
components andmanufacturing services.The supply chain for our bikes and
scooters exposes us to multiple potential sources of delivery failure or
shortages.In the event that our supply of bikes andscooters or key
components is interrupted or there are significant increases in prices,
our business, financial condition and results of operations could be
adversely affected.Changes in business conditions, force majeure, any
public health crises, such as the COVID-19 pandemic, governmental or
regulatory changes and other factors beyond ourcontrol have affected and
could continue to affect our suppliers’ ability to deliver products and
our ability to deploy products to the market on a timely basis.We incur
significant costs related to the design, purchase, sourcing and
operations of our network of Light Vehicles and we expect to continue
incurring such costsas we expand our network of Light Vehicles.The
prices and availability of bikes and scooters and related products may
fluctuate depending on factors beyond our controlincluding market and
economic conditions, tariffs, changes to import or export regulations
and demand.Substantial increases in prices of these assets or the cost
of ouroperations would increase our costs and reduce our margins, which
could adversely affect our business, financial condition and results of
operations.Further, customsauthorities may challenge or disagree with
our classification, valuation or country of origin determinations of our
imports.Such challenges could result in tariff liabilities,including
tariffs on past imports, as well as penalties and interest.
- >-
We provide a service to drivers to complete a successful transportation
service for riders.This service includes on-demand lead generation that
assists drivers tofind, receive and fulfill on-demand requests from
riders seeking transportation services and related collection activities
using our Lyft Platform.As a result, our singleperformance obligation in
the transaction is to connect drivers with riders to facilitate the
completion of a successful transportation service for riders.We evaluate
the presentation of revenue on a gross versus net basis based on whether
we act as a principal by controlling the transportation service provided
to therider or whether we act as an agent by arranging for third parties
to provide the service to the rider.We facilitate the provision of a
transportation service by a driver to arider (the driver’s customer) in
order for the driver to fulfill their contractual promise to the
rider.The driver fulfills their promise to provide a transportation
service to theircustomer through use of the Lyft Platform.While
we facilitate setting the price for transportation services,
the drivers and riders have the discretion in accepting
thetransaction price through the platform.We do not control the
transportation services being provided to the rider nor do we have
inventory risk related to the transportationservices.As a result, we act
as an agent in facilitating the ability for a driver to provide a
transportation service to a rider.We report revenue on a net basis,
reflecting the service fees and commissions owed to us from the drivers
as revenue, and not the gross amount collected from therider.We made
this determination of not being primarily responsible for the services
since we do not promise the transportation services, do not contract
with drivers toprovide transportation services on our behalf, do not
control whether the driver accepts or declines the transportation
request via the Lyft Platform, and do not control theprovision of
transportation services by drivers to riders at any point in time either
before, during, or after, the trip.We consider the ToS and our customary
business practices in identifying the contracts under ASC 606.As our
customary business practice, a contract existsbetween the driver and us
when the driver’s ability to cancel the trip lapses, which typically is
upon pickup of the rider.We collect the fare and related charges from
riderson behalf of drivers using the rider’s pre-authorized credit card
or other payment mechanism and retain any fees owed to us before making
the remaining disbursement todrivers; thus the driver’s ability and
intent to pay is not subject to significant judgment.We earn service
fees and commissions from the drivers either as the difference between
an amount paid by a rider based on an upfront quoted fare and the
amountearned by a driver based on actual time and distance for the trip
or as a fixed percentage of the fare charged to the rider.In an upfront
quoted fare arrangement, as we do notcontrol the driver’s actions at any
point in the transaction to limit the time and distance for the trip, we
take on risks related to the driver’s actions which may not be
fullymitigated.We earn a variable amount from the drivers and may record
a loss from a transaction, which is recorded as a reduction to revenue,
in instances where an up-frontquoted fare offered to a rider is less
than the amount we are committed to pay the driver.We recognize
revenue upon completion of a ride as the single performance
obligation is satisfied and we have the right to receive
payment for the servicesrendered upon the completion of the ride.We
offer various incentive programs to drivers that are recorded as
reduction to revenue if we do not receive a distinct good or service in
consideration or if wecannot reasonably estimate the fair value of goods
or services received.In some cases, we also earn Concierge platform fees
from organizations that use our Concierge offering, which is a product
that allows organizations to requestrides for their customers and
employees through our ridesharing marketplace.Concierge platform fees
are earned as a fixed dollar amount per ride or a percentage of theride
price depending on the contract and such Concierge platform fee revenue
is recognized on a gross basis.We recognize revenue from subscription
fees paid by users to access transportation options through the Lyft
Platform and mobile-based applications over theapplicable subscription
period.We generate revenue from licensing and data access agreements.We
are primarily responsible for fulfilling our promise to provide
rideshare data and access toFlexdrive vehicles and bear the fulfillment
risk, and the responsibility of providing the data, over the license
period.We act as a principal in delivering the data and accesslicenses
and present revenue on a gross basis.Consideration allocated to each
performance obligation, the data delivery and vehicle access, are
determined by assigning therelative fair value to each of the
performance obligations.
- source_sentence: >-
What measures does the ridesharing platform undertake to prevent and
address security breaches and incidents? Discuss the potential costs and
resources involved in implementing these measures.
sentences:
- >-
Lyft, Inc.Consolidated Statements of Redeemable Convertible Preferred
Stock and Stockholders’ Equity (Deficit)(in
thousands)RedeemableConvertiblePreferred StockClass A and Class BCommon
StockAdditionalPaid-inCapitalAccumulatedDeficitAccumulatedOtherComprehensiveIncome
(Loss)TotalStockholders’Equity (Deficit)SharesAmountSharesAmountBalance
as of December 31, 2018219,176 $5,152,047 22,438 $— $73,916
$(2,945,330)$133 $(2,871,281)Issuance of common stock upon exercise of
stockoptions— — 10,855 — 18,336 — — 18,336 Issuance of common stock upon
settlement of RSUs— — 28,622 — — — — — Issuance of common stock under
employee stockpurchase plan— — 404 — 14,767 — — 14,767 Shares withheld
related to net share settlement— — (14,394)— (942,982)— —
(942,982)Issuance of common in connection with initial publicoffering,
net of offering costs, underwriting discountsand commissions— — 35,497 1
2,483,622 — — 2,483,623 Conversion of redeemable convertible preferred
stockto common stock in connection with initial
publicoffering(219,176)(5,152,047)219,176 2 5,152,045 — — 5,152,047
Cancelled escrow shares related to businesscombination— — (2)— (90)— —
(90)Vesting of early exercised stock options— — — — 2 — — 2 Stock-based
compensation— — — — 1,599,311 — — 1,599,311 Other comprehensive income—
— — — — — 2,592 2,592 Net loss— — — — — (2,602,241)— (2,602,241)Balance
as of December 31, 2019— $— 302,596 $3 $8,398,927 $(5,547,571)$2,725
$2,854,084 Issuance of common stock upon exercise of stockoptions— —
1,039 — 4,673 — — 4,673 Issuance of common stock upon settlement
ofrestricted stock units— — 19,762 — — — — — Shares withheld related to
net share settlement— — (552)— (20,240)— — (20,240)Issuance of common
stock under employee stockpurchase plan— — 892 — 21,351 — — 21,351
Equity component of the convertible senior notesissued, net of tax and
offering costs— — — — 139,224 — — 139,224 Purchase of capped call— — — —
(132,681)— — (132,681)Stock-based compensation— — — — 565,807 — —
565,807 Other comprehensive loss— — — — — — (3,198)(3,198)Net loss— — —
— — (1,752,857)— (1,752,857)Balance as of December 31, 2020— $— 323,737
$3 $8,977,061 $(7,300,428)$(473)$1,676,163 The accompanying notes are an
integral part of these consolidated financial statements.81
- >-
Lyft, Inc.Consolidated Statements of Redeemable Convertible Preferred
Stock and Stockholders’ Equity (Deficit)(in
thousands)RedeemableConvertiblePreferred StockClass A and Class BCommon
StockAdditionalPaid-in
CapitalAccumulatedDeficitAccumulatedOtherComprehensiveIncome
(Loss)TotalStockholders’Equity (Deficit)SharesAmountSharesAmountBalance
as of December 31, 2020— — 323,737 $3 $8,977,061
$(7,300,428)$(473)$1,676,163 Issuance of common stock upon exercise of
stockoptions— — 812 — 5,184 — — 5,184 Issuance of common stock upon
settlement of restrictedstock units— — 19,926 — — — — — Shares withheld
related to net share settlement— — (509)— (26,298)— — (26,298)Issuance
of common stock under employee stockpurchase plan— — 972 — 28,637 — —
28,637 Settlement of convertible senior notes— — — — (1)— —
(1)Stock-based compensation— — — — 721,710 — — 721,710 Other
comprehensive loss— — — — — — (2,038)(2,038)Net loss— — — — —
(1,009,359)— (1,009,359)Balance as of December 31, 2021— $— 344,938 $3
$9,706,293 $(8,309,787)$(2,511)$1,393,998 The accompanying notes are an
integral part of these consolidated financial statements.82
- >-
Inparticular, our service providers may also be the targets of
cyberattacks, malicious software, phishing schemes, and other attacks,
and our third-party service providers’systems and networks may be, or
may have been, breached or contain exploitable vulnerabilities or bugs
that could result in a breach of or disruption to our or their systemsor
networks.Any actual or perceived privacy or security breach or incident
could interrupt our operations, result in our platform being unavailable
or otherwise disrupted, resultin loss, alteration, unavailability or
improper use or disclosure of data, result in fraudulent transfer of
funds, harm our reputation and brand, damage our relationships
withthird-party partners, result in regulatory investigations and other
proceedings, private claims, demands, litigation and other proceedings,
loss of our ability to accept creditor debit card payments, increased
card processing fees, and other significant legal, regulatory and
financial exposure and lead to loss of driver or rider confidence in,
ordecreased use of, our platform, any of which could adversely affect
our business, financial condition and results of operations.Any actual
or perceived privacy or securitybreach or incident impacting any
entities with which we share or disclose data (including, for example,
our third-party technology providers, third party autonomous
vehicleproviders, or other parties with whom we have agreed to share our
data under licensing or other commercial arrangements) could have
similar effects.In addition, anyactual or perceived privacy or security
breach or incident impacting any autonomous vehicles, whether through
our platform or our competitors’, could result in legal,regulatory and
financial exposure and lead to loss of rider confidence in our platform,
which could significantly undermine our business strategy.Further, any
cyberattacksdirected toward, or privacy or security breaches or
incidents impacting, our competitors could reduce confidence in the
ridesharing industry as a whole and, as a result,reduce confidence in
us.We incur significant costs in an effort to detect and prevent
security breaches and other security-related incidents and we expect our
costs will increase as wecontinue to implement systems and processes
designed to prevent and otherwise address security breaches and
incidents.In the event of a future breach or incident, wecould be
required to expend additional significant capital and other resources in
an effort to respond to prevent further breaches or incidents, which may
require us to divertsubstantial resources.30
- source_sentence: >-
What potential consequences could occur if the third-party background
check providers fail to provide accurate information or are unable to
complete background checks due to data access restrictions, court
closures, or government shutdowns? Discuss the potential impact on the
business, financial condition, and results of operations, and suggest
possible strategies to mitigate these risks.
sentences:
- >-
Any of theforegoing risks could harm our business, financial condition
and results of operations.We rely on third-party background check
providers to screen potential and existing drivers, and if such
providers fail to provide accurate information, or if providersare
unable to complete background checks because of data access
restrictions, court closures or other unforeseen government
shutdown, or we do not maintainbusiness relationships with them,
our business, financial condition and results of operations could be
adversely affected.We rely on third-party background check providers to
screen the records of potential and existing drivers to help identify
those that are not qualified to utilize ourplatform pursuant to
applicable law or our internal standards.Our business has been and may25
- >-
circumstances that existed as of the acquisition date. After the
measurement period, any subsequent adjustments are reflected on the
consolidated statements of operations.Acquisition costs, such as legal
and consulting fees, are expensed as incurred.GoodwillGoodwill
represents the excess of the purchase price over the fair value of the
net tangible and identifiable intangible assets acquired in a business
combination.Intangible assets resulting from the acquisition of entities
accounted for using the purchase method of accounting are estimated by
us based on the fair value of assetsreceived. Intangible assets are
amortized on a straight-line basis over the estimated useful lives which
range from two to twelve years.Goodwill is not subject to amortization,
but is tested for impairment on an annual basis during the fourth
quarter or whenever events or changes in circumstancesindicate the
carrying amount of the goodwill may not be recoverable. As part of the
annual goodwill impairment test, we first perform a qualitative
assessment to determinewhether further impairment testing is necessary.
If, as a result of its qualitative assessment, it is
more-likely-than-not that the fair value of the reporting unit is less
than itscarrying amounts, the quantitative impairment test will be
required. There was no impairment of goodwill recorded for the years
ended December 31, 2021, 2020 and 2019.Recent Accounting
PronouncementsSee Note 2 to our consolidated financial statements
included elsewhere in this Annual Report on Form 10-K for recently
issued accounting pronouncements notyet adopted as of the date of this
report. Components of Results of OperationsAs noted above, we expect to
see decreased levels of demand for our platform, decreased numbers of
new rider activations, and negative impacts on revenue for solong as
responsive measures to COVID-19 remain in place when compared to
levels prior to the onset of the COVID-19 pandemic in March 2020. We
have adoptedmultiple measures in response to the COVID-19 pandemic. We
cannot be certain that these actions will mitigate some or all of the
negative effects of the pandemic on ourbusiness. In light of the
evolving and unpredictable effects of COVID-19, we are not currently in
a position to forecast the expected impact of COVID-19 on our
financialand operating results in future periods.Revenue
RecognitionRevenue consists of revenue recognized from fees paid by
drivers for use of our Lyft Platform offerings, Concierge platform fees
from organizations that use ourConcierge offering, subscription fees
paid by riders to access transportation options through the Lyft
Platform, revenue from our vehicle service centers and revenue
fromlicensing and data access agreements. Revenue derived from these
offerings are recognized in accordance with ASC 606 as described in the
Critical Accounting Policiesand Estimates above and in Note 2 of the
notes to our consolidated financial statements.Revenue also consists of
rental revenues recognized through leases or subleases primarily from
Flexdrive, Lyft Rentals, and our network of Light Vehicles,
whichincludes revenue generated from single-use ride fees paid by riders
of Light Vehicles. Revenue derived from these offerings are recognized
in accordance with ASC 842 asdescribed in the Critical Accounting
Policies and Estimates above and in Note 2 of the notes to our
consolidated financial statements.We offer various incentive programs to
drivers that are recorded as reduction to revenue if we do not receive a
distinct good or service in consideration or if wecannot reasonably
estimate the fair value of goods or services received.Cost of
RevenueCost of revenue consists of costs directly related to revenue
generating transactions through our multimodal platform which primarily
includes insurance costs,payment processing charges, and other costs.
Insurance costs consist of insurance generally required under TNC and
city regulations for ridesharing and bike and scooterrentals and also
includes occupational hazard insurance for drivers in California.
Payment processing charges include merchant fees, chargebacks and failed
charges. Othercosts included in cost of revenue are hosting and
platform-related technology costs, vehicle lease expenses,
personnel-related compensation costs, depreciation,amortization of
technology-related intangible assets, asset write-off charges and
remarketing gains and losses related to the sale of vehicles.Operations
and SupportOperations and support expenses primarily consist of
personnel-related compensation costs of local operations teams and teams
who provide phone, email andchat support to users, bike and
scooter fleet operations support costs, driver background checks
and onboarding costs, fees paid to third-parties providing
operationssupport, facility costs and certain car rental fleet support
costs. Bike and scooter fleet operations support costs include general
repairs and maintenance, and other customersupport activities related to
repositioning bikes and scooters for rider convenience, cleaning and
safety checks.Research and Development61
- "6.5Other Requirements.Severance\_Benefits\_under\_this\_Plan\_shall\_terminate\_immediately\_for\_aParticipant\_if\_such\_Participant,\_at\_any\_time,\_violates\_any\_such\_agreement\_and/or\_the\_provisions\_of\_this\_Section\_6.7.Timing of Severance Benefits.Provided\_that\_the\_Release\_becomes\_effective\_and\_irrevocable\_by\_the\_ReleaseDeadline\_Date\_and\_subject\_to\_Section\_9,\_the\_Severance\_Benefits\_will\_be\_paid,\_or\_in\_the\_case\_of\_installments,\_willcommence, \_on \_the \_first \_Company \_payroll \_date \_following \_the \_Release \_Deadline \_Date \_(such \_payment \_date, \_the\"Severance Start Date\"), and\_any\_Severance\_Benefits\_otherwise\_payable\_to\_theParticipant\_during\_the\_period\_immediately\_following\_the\_Participant's\_termination\_of\_employment\_with\_the\_Companythrough\_the\_Severance\_Start\_Date\_will\_be\_paid\_in\_a\_lump\_sum\_to\_the\_Participant\_on\_the\_Severance\_Start\_Date,\_with\_anyremaining\_payments\_to\_be\_made\_as\_provided\_in\_this\_Plan\_and\_the\_Participant's\_Participation\_Agreement.8.Exclusive Benefit.Unless \_otherwise \_provided \_for \_by \_the \_Administrator \_in \_a \_Participant's \_ParticipationAgreement,\_the\_benefits,\_if\_any,\_provided\_under\_this\_Plan\_will\_be\_the\_exclusive\_benefits\_for\_a\_Participant\_related\_to\_his\_orher\_termination\_of\_employment\_with\_the\_Company\_and/or\_a\_change\_in\_control\_of\_the\_Company\_and\_will\_supersede\_andreplace \_any \_severance \_and/or \_change \_in \_control \_benefits \_set \_forth \_in \_any \_offer \_letter, \_employment \_or \_severanceagreement\_and/or\_other\_agreement\_between\_the\_Participant\_and\_the\_Company,\_including\_any\_equity\_award\_agreement.For\_the\_avoidance\_of\_doubt,\_if\_a\_Participant\_was\_otherwise\_eligible\_to\_participate\_in\_any\_other\_Company\_severance\_and/orchange\_in\_control\_plan\_(whether\_or\_not\_subject\_to\_ERISA),\_then\_participation\_in\_this\_Planwill\_supersede\_and\_replace\_eligibility\_in\_such\_other\_plan."
- source_sentence: Why is the Mine Safety Disclosures section not applicable in this context?
sentences:
- >-
Any of the foregoing risks could also result in decreased usage of our
network of Light Vehicles and adversely affect our business,
brand,financial conditions and results of operations.If we fail to
effectively manage our growth, our business, financial condition and
results of operations could be adversely affected.Since 2012 and prior
to the COVID-19 pandemic, we generally experienced rapid growth in our
business, the number of users on our platform and our geographicreach,
and we expect to continue to experience growth in the future following
the recovery of the world economy from the pandemic.This growth placed,
and may continueto place, significant demands on our management and our
operational and financial infrastructure.Employee growth has occurred
both at our San Francisco headquartersand in a number of our offices
across the United States and internationally.The number of our full-time
employees increased from 2,708 as of December 31, 2017, to 4,453as of
December 31, 2021.However, from time to time, we have undertaken
restructuring actions to better align our financial model and our
business.For example, in thesecond quarter of 2020, we implemented a
plan of termination to reduce operating expenses and adjust cash flows
in light of the ongoing economic challenges resultingfrom the COVID-19
pandemic and its impact on our business, which plan involved the
termination of approximately 17% of our employees.Steps we take to
manage ourbusiness operations, including remote work policies for
employees, and to align our operations with our strategies for future
growth may adversely affect our reputation andbrand, our ability to
recruit, retain and motivate highly skilled personnel.Our ability to
manage our growth and business operations effectively and to integrate
new employees, technologies and acquisitions into our existing business
willrequire us to continue to expand our operational and financial
infrastructure and to continue to retain, attract, train, motivate and
manage employees.Continued growthcould strain our ability to develop and
improve our operational, financial and management controls, enhance our
reporting systems and procedures, recruit, train and retainhighly
skilled personnel and maintain user satisfaction.Additionally, if we do
not effectively manage the growth of our business and operations, the29
- >-
2.2Additionally, the post-termination exercise period for any
stock options exercisable for shares of the Company’sClass A
Common Stock held by Consultant set forth on Schedule 1 (each, a
“Company Option”), to the extent vested and exercisable as ofthe
Contract Termination Date, are hereby amended to extend such
exercise period until the original maximum term of the
CompanyOption, subject to earlier termination (for a reason other than
termination as a service provider) in accordance with the Equity
Documents.Notwithstanding any contrary provision of this Agreement, the
longer exercise period provided by this Section 2.2 will be provided
only ifthe release of claims attached as Exhibit 1 is signed
by Consultant, returned to the Company within the 21 day
period immediatelyfollowing the Contract Termination Date, and
the release becomes effective and irrevocable no later than 29
days after the ContractTermination Date.2.3Consultant shall not be
authorized to incur on behalf of the Company any expenses and will be
responsible for allexpenses incurred while performing the Services
unless otherwise agreed to by the Company in writing in advance by the
President.3.Term. The “Term” will commence on the Effective Date
and will terminate on June 1, 2022, unless earlier
terminatedpursuant to the terms hereof, or unless extended by
agreement of the parties hereto (whichever date applies being
the “ContractTermination Date”). On or immediately following the
Contract Termination Date, Consultant will promptly deliver to the
Company allcompany property and documents and other materials of
any nature furnished by the Company to the Consultant or
produced by theConsultant in connection with the services rendered
hereunder, together with all copies of any of the foregoing pertaining
to the Services orpertaining to any Confidential Information.
Termination of this Agreement under this Section 3 shall not affect the
Consultant’s continuingobligations to the Company under Section 7
below.4.Termination.4.1Breach. Either party may terminate this
Agreement in the event of a material breach by the other
party of thisAgreement if such breach continues uncured for a period
of ten (10) days after written notice.4.2Expiration. Unless terminated
earlier, this Agreement will expire at the end of the Term.4.3No
Election of Remedies. The election by the Company to terminate this
Agreement in accordance with its termsshall not be deemed an election of
remedies, and all other remedies provided by this Agreement or available
at law or in equity shall surviveany termination.5.Conflicts of
Interest.5.1The Consultant will not disclose to the Company any
information that the Consultant is obligated to keep
secretpursuant to an existing confidentiality agreement with a
third party, and nothing in this Agreement will impose any
obligation on theConsultant to the contrary.5.2The Consultant shall
not use the funding, resources, facilities or time properly devoted to
any third party to performconsulting work hereunder and shall not
perform24857-0921-6260.2
- >-
Item 3. Legal Proceedings.See discussion under the heading Legal
Proceedings in Note 9 to the consolidated financial statements included
in Part II, Item 8 of this report.Item 4. Mine Safety Disclosures.Not
applicable.54
pipeline_tag: sentence-similarity
library_name: sentence-transformers
metrics:
- cosine_accuracy@1
- cosine_accuracy@3
- cosine_accuracy@5
- cosine_accuracy@10
- cosine_precision@1
- cosine_precision@3
- cosine_precision@5
- cosine_precision@10
- cosine_recall@1
- cosine_recall@3
- cosine_recall@5
- cosine_recall@10
- cosine_ndcg@10
- cosine_mrr@10
- cosine_map@100
model-index:
- name: SentenceTransformer based on sentence-transformers/all-MiniLM-L6-v2
results:
- task:
type: information-retrieval
name: Information Retrieval
dataset:
name: Unknown
type: unknown
metrics:
- type: cosine_accuracy@1
value: 0.520253164556962
name: Cosine Accuracy@1
- type: cosine_accuracy@3
value: 0.7025316455696202
name: Cosine Accuracy@3
- type: cosine_accuracy@5
value: 0.7620253164556962
name: Cosine Accuracy@5
- type: cosine_accuracy@10
value: 0.8151898734177215
name: Cosine Accuracy@10
- type: cosine_precision@1
value: 0.520253164556962
name: Cosine Precision@1
- type: cosine_precision@3
value: 0.23417721518987342
name: Cosine Precision@3
- type: cosine_precision@5
value: 0.1524050632911392
name: Cosine Precision@5
- type: cosine_precision@10
value: 0.08151898734177215
name: Cosine Precision@10
- type: cosine_recall@1
value: 0.520253164556962
name: Cosine Recall@1
- type: cosine_recall@3
value: 0.7025316455696202
name: Cosine Recall@3
- type: cosine_recall@5
value: 0.7620253164556962
name: Cosine Recall@5
- type: cosine_recall@10
value: 0.8151898734177215
name: Cosine Recall@10
- type: cosine_ndcg@10
value: 0.6712485933066905
name: Cosine Ndcg@10
- type: cosine_mrr@10
value: 0.6248035965441024
name: Cosine Mrr@10
- type: cosine_map@100
value: 0.6305430820923001
name: Cosine Map@100
SentenceTransformer based on sentence-transformers/all-MiniLM-L6-v2
This is a sentence-transformers model finetuned from sentence-transformers/all-MiniLM-L6-v2. It maps sentences & paragraphs to a 384-dimensional dense vector space and can be used for semantic textual similarity, semantic search, paraphrase mining, text classification, clustering, and more.
Model Details
Model Description
- Model Type: Sentence Transformer
- Base model: sentence-transformers/all-MiniLM-L6-v2
- Maximum Sequence Length: 256 tokens
- Output Dimensionality: 384 dimensions
- Similarity Function: Cosine Similarity
Model Sources
- Documentation: Sentence Transformers Documentation
- Repository: Sentence Transformers on GitHub
- Hugging Face: Sentence Transformers on Hugging Face
Full Model Architecture
SentenceTransformer(
(0): Transformer({'max_seq_length': 256, 'do_lower_case': False}) with Transformer model: BertModel
(1): Pooling({'word_embedding_dimension': 384, 'pooling_mode_cls_token': False, 'pooling_mode_mean_tokens': True, 'pooling_mode_max_tokens': False, 'pooling_mode_mean_sqrt_len_tokens': False, 'pooling_mode_weightedmean_tokens': False, 'pooling_mode_lasttoken': False, 'include_prompt': True})
(2): Normalize()
)
Usage
Direct Usage (Sentence Transformers)
First install the Sentence Transformers library:
pip install -U sentence-transformers
Then you can load this model and run inference.
from sentence_transformers import SentenceTransformer
# Download from the 🤗 Hub
model = SentenceTransformer("sentence_transformers_model_id")
# Run inference
sentences = [
'Why is the Mine Safety Disclosures section not applicable in this context?',
'Item 3. Legal Proceedings.See discussion under the heading Legal Proceedings in Note 9 to the consolidated financial statements included in Part II, Item 8 of this report.Item 4. Mine Safety Disclosures.Not applicable.54',
'Any of the foregoing risks could also result in decreased usage of our network of Light Vehicles and adversely affect our business, brand,financial conditions and results of operations.If we fail to effectively manage our growth, our business, financial condition and results of operations could be adversely affected.Since 2012 and prior to the COVID-19 pandemic, we generally experienced rapid growth in our business, the number of users on our platform and our geographicreach, and we expect to continue to experience growth in the future following the recovery of the world economy from the pandemic.This growth placed, and may continueto place, significant demands on our management and our operational and financial infrastructure.Employee growth has occurred both at our San Francisco headquartersand in a number of our offices across the United States and internationally.The number of our full-time employees increased from 2,708 as of December 31, 2017, to 4,453as of December 31, 2021.However, from time to time, we have undertaken restructuring actions to better align our financial model and our business.For example, in thesecond quarter of 2020, we implemented a plan of termination to reduce operating expenses and adjust cash flows in light of the ongoing economic challenges resultingfrom the COVID-19 pandemic and its impact on our business, which plan involved the termination of approximately 17% of our employees.Steps we take to manage ourbusiness operations, including remote work policies for employees, and to align our operations with our strategies for future growth may adversely affect our reputation andbrand, our ability to recruit, retain and motivate highly skilled personnel.Our ability to manage our growth and business operations effectively and to integrate new employees, technologies and acquisitions into our existing business willrequire us to continue to expand our operational and financial infrastructure and to continue to retain, attract, train, motivate and manage employees.Continued growthcould strain our ability to develop and improve our operational, financial and management controls, enhance our reporting systems and procedures, recruit, train and retainhighly skilled personnel and maintain user satisfaction.Additionally, if we do not effectively manage the growth of our business and operations, the29',
]
embeddings = model.encode(sentences)
print(embeddings.shape)
# [3, 384]
# Get the similarity scores for the embeddings
similarities = model.similarity(embeddings, embeddings)
print(similarities.shape)
# [3, 3]
Evaluation
Metrics
Information Retrieval
- Evaluated with
InformationRetrievalEvaluator
| Metric | Value |
|---|---|
| cosine_accuracy@1 | 0.5203 |
| cosine_accuracy@3 | 0.7025 |
| cosine_accuracy@5 | 0.762 |
| cosine_accuracy@10 | 0.8152 |
| cosine_precision@1 | 0.5203 |
| cosine_precision@3 | 0.2342 |
| cosine_precision@5 | 0.1524 |
| cosine_precision@10 | 0.0815 |
| cosine_recall@1 | 0.5203 |
| cosine_recall@3 | 0.7025 |
| cosine_recall@5 | 0.762 |
| cosine_recall@10 | 0.8152 |
| cosine_ndcg@10 | 0.6712 |
| cosine_mrr@10 | 0.6248 |
| cosine_map@100 | 0.6305 |
Training Details
Training Dataset
Unnamed Dataset
- Size: 668 training samples
- Columns:
sentence_0andsentence_1 - Approximate statistics based on the first 668 samples:
sentence_0 sentence_1 type string string details - min: 14 tokens
- mean: 34.62 tokens
- max: 111 tokens
- min: 3 tokens
- mean: 226.63 tokens
- max: 256 tokens
- Samples:
sentence_0 sentence_1 What is the market value of Lyft's common stock held by non-affiliates as of June 30, 2021, based on the closing sales price of the Class A common stock on that date?UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-K (Mark One)☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2021OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIODFROM TOCommission File Number 001-38846Lyft, Inc.(Exact name of Registrant as specified in its Charter)Delaware20-8809830(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)185 Berry Street, Suite 5000San Francisco, California94107(Address of principal executive offices)(Zip Code)Registrant’s telephone number, including area code: (844) 250-2773Securities registered pursuant to Section 12(b) of the Act: Title of each classTradingSymbol(s)Name of each exchange on which registeredClass A common stock, par value of $0.00001 per shareLYFTNasdaq Global Select MarketSecurities registered pursuant to ...Has Lyft filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act?UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-K (Mark One)☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2021OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIODFROM TOCommission File Number 001-38846Lyft, Inc.(Exact name of Registrant as specified in its Charter)Delaware20-8809830(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)185 Berry Street, Suite 5000San Francisco, California94107(Address of principal executive offices)(Zip Code)Registrant’s telephone number, including area code: (844) 250-2773Securities registered pursuant to Section 12(b) of the Act: Title of each classTradingSymbol(s)Name of each exchange on which registeredClass A common stock, par value of $0.00001 per shareLYFTNasdaq Global Select MarketSecurities registered pursuant to ...In the "Management's Discussion and Analysis of Financial Condition and Results of Operations" section, what information would you expect to find regarding the company's market risk?Table of ContentsPagePART IItem 1.Business5Item 1A.Risk Factors15Item 1B.Unresolved Staff Comments53Item 2.Properties53Item 3.Legal Proceedings54Item 4.Mine Safety Disclosures54PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities55Item 6.[Reserved]56Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations56Item 7A.Quantitative and Qualitative Disclosures About Market Risk73Item 8.Financial Statements and Supplementary Data74Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure123Item 9A.Controls and Procedures123Item 9B.Other Information123Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections123PART IIIItem 10.Directors, Executive Officers and Corporate Governance124Item 11.Executive Compensation124Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters124Item 13.Certain Relat... - Loss:
MultipleNegativesRankingLosswith these parameters:{ "scale": 20.0, "similarity_fct": "cos_sim" }
Training Hyperparameters
Non-Default Hyperparameters
eval_strategy: stepsper_device_train_batch_size: 10per_device_eval_batch_size: 10num_train_epochs: 2multi_dataset_batch_sampler: round_robin
All Hyperparameters
Click to expand
overwrite_output_dir: Falsedo_predict: Falseeval_strategy: stepsprediction_loss_only: Trueper_device_train_batch_size: 10per_device_eval_batch_size: 10per_gpu_train_batch_size: Noneper_gpu_eval_batch_size: Nonegradient_accumulation_steps: 1eval_accumulation_steps: Nonetorch_empty_cache_steps: Nonelearning_rate: 5e-05weight_decay: 0.0adam_beta1: 0.9adam_beta2: 0.999adam_epsilon: 1e-08max_grad_norm: 1num_train_epochs: 2max_steps: -1lr_scheduler_type: linearlr_scheduler_kwargs: {}warmup_ratio: 0.0warmup_steps: 0log_level: passivelog_level_replica: warninglog_on_each_node: Truelogging_nan_inf_filter: Truesave_safetensors: Truesave_on_each_node: Falsesave_only_model: Falserestore_callback_states_from_checkpoint: Falseno_cuda: Falseuse_cpu: Falseuse_mps_device: Falseseed: 42data_seed: Nonejit_mode_eval: Falseuse_ipex: Falsebf16: Falsefp16: Falsefp16_opt_level: O1half_precision_backend: autobf16_full_eval: Falsefp16_full_eval: Falsetf32: Nonelocal_rank: 0ddp_backend: Nonetpu_num_cores: Nonetpu_metrics_debug: Falsedebug: []dataloader_drop_last: Falsedataloader_num_workers: 0dataloader_prefetch_factor: Nonepast_index: -1disable_tqdm: Falseremove_unused_columns: Truelabel_names: Noneload_best_model_at_end: Falseignore_data_skip: Falsefsdp: []fsdp_min_num_params: 0fsdp_config: {'min_num_params': 0, 'xla': False, 'xla_fsdp_v2': False, 'xla_fsdp_grad_ckpt': False}fsdp_transformer_layer_cls_to_wrap: Noneaccelerator_config: {'split_batches': False, 'dispatch_batches': None, 'even_batches': True, 'use_seedable_sampler': True, 'non_blocking': False, 'gradient_accumulation_kwargs': None}deepspeed: Nonelabel_smoothing_factor: 0.0optim: adamw_torchoptim_args: Noneadafactor: Falsegroup_by_length: Falselength_column_name: lengthddp_find_unused_parameters: Noneddp_bucket_cap_mb: Noneddp_broadcast_buffers: Falsedataloader_pin_memory: Truedataloader_persistent_workers: Falseskip_memory_metrics: Trueuse_legacy_prediction_loop: Falsepush_to_hub: Falseresume_from_checkpoint: Nonehub_model_id: Nonehub_strategy: every_savehub_private_repo: Nonehub_always_push: Falsegradient_checkpointing: Falsegradient_checkpointing_kwargs: Noneinclude_inputs_for_metrics: Falseinclude_for_metrics: []eval_do_concat_batches: Truefp16_backend: autopush_to_hub_model_id: Nonepush_to_hub_organization: Nonemp_parameters:auto_find_batch_size: Falsefull_determinism: Falsetorchdynamo: Noneray_scope: lastddp_timeout: 1800torch_compile: Falsetorch_compile_backend: Nonetorch_compile_mode: Nonedispatch_batches: Nonesplit_batches: Noneinclude_tokens_per_second: Falseinclude_num_input_tokens_seen: Falseneftune_noise_alpha: Noneoptim_target_modules: Nonebatch_eval_metrics: Falseeval_on_start: Falseuse_liger_kernel: Falseeval_use_gather_object: Falseaverage_tokens_across_devices: Falseprompts: Nonebatch_sampler: batch_samplermulti_dataset_batch_sampler: round_robin
Training Logs
| Epoch | Step | cosine_ndcg@10 |
|---|---|---|
| 0.7463 | 50 | 0.6668 |
| 1.0 | 67 | 0.6661 |
| 1.4925 | 100 | 0.6699 |
| 2.0 | 134 | 0.6712 |
Framework Versions
- Python: 3.10.12
- Sentence Transformers: 3.3.1
- Transformers: 4.47.1
- PyTorch: 2.5.1+cu121
- Accelerate: 1.2.1
- Datasets: 3.2.0
- Tokenizers: 0.21.0
Citation
BibTeX
Sentence Transformers
@inproceedings{reimers-2019-sentence-bert,
title = "Sentence-BERT: Sentence Embeddings using Siamese BERT-Networks",
author = "Reimers, Nils and Gurevych, Iryna",
booktitle = "Proceedings of the 2019 Conference on Empirical Methods in Natural Language Processing",
month = "11",
year = "2019",
publisher = "Association for Computational Linguistics",
url = "https://arxiv.org/abs/1908.10084",
}
MultipleNegativesRankingLoss
@misc{henderson2017efficient,
title={Efficient Natural Language Response Suggestion for Smart Reply},
author={Matthew Henderson and Rami Al-Rfou and Brian Strope and Yun-hsuan Sung and Laszlo Lukacs and Ruiqi Guo and Sanjiv Kumar and Balint Miklos and Ray Kurzweil},
year={2017},
eprint={1705.00652},
archivePrefix={arXiv},
primaryClass={cs.CL}
}