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Lyft is making a lot of money, but will it be enough to find a buyer? | Recode Daily: August 3, 2016

A leaked letter says the ride-hailing service is growing.

Lyft

.A leaked Lyft investor letter obtained by Recode shows that the company set a record of 13.9 million rides last month, and that its number of unsubsidized rides (11 million) is trending upward. That's some good news for Lyft, which needs a buyer of some sort if it wants to hold on against the recently forged Uber-Didi behemoth.
[Johana Bhuiyan | Recode]

.Time Warner is investing $580 million for a 10 percent stake in Hulu, joining Comcast, 21st Century Fox and Disney. Unlike its other partners, Time Warner won't put its programming in the existing version of Hulu, which shows repeats of recently aired shows. Instead, it will license its stuff for a new pay TV service Hulu wants to launch next year.
[Peter Kafka | Recode]

.Instagram has a new feature called Stories, and it's the same exact thing as Snapchat stories. Though Facebook has tried cloning Snapchat before, this time it might actually stick: Instagram's advantage is that you can see the stories of all the people you know on Instagram, instead of going through Snapchat's wonky phonebook following process.
[Kurt Wagner | Recode]

.Tesla is releasing its quarterly report today, and investors are keen to hear Elon Musk talk more about his "master plan" for Tesla, which now includes SolarCity. One big potential hurdle: Tesla will probably end up needing a partner with a ride-hailing or ride-sharing network in order to allow Tesla owners to rent out their cars to other people.
[Johana Bhuiyan | Recode]

.HP CEO and well-known business community Republican Meg Whitman is crossing party lines to endorse Hillary Clinton for president. In an interview, she called Donald Trump a "dishonest demagogue." The endorsement is the result of months of work by the Clinton camp to flip prominent Republican leaders against Trump.
[Jonathan Martin | The New York Times]

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This article originally appeared on Recode.net.

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