Several years ago, we joked that Lyft’s investors— a motley crew that includes Japanese conglomerates, billionaire hedge funds, other ride-sharing startups, sharp elbowed activists like Carl Icahn — and major venture capitalists like Andreessen Horowitz, Founders Fund and Floodgate — as the coalition of billionaires investing against Uber as much as they were investing in Lyft.

On October 19, another one joined the ranks: Alphabet — Google and Waymo’s parent company — lead a new $1 billion Lyft round. The same one embroiled in a multi-billion trade theft lawsuit with Uber. The same one that was once also an investor in Uber. This has never been an industry where allies stay allies forever. And Lyft’s co-founders John Zimmer and Logan Green ...