The sharing economy is changing the nature of work, providing flexibility to workers who may not be looking for the same type of jobs all the time, Lyft CEO Logan Green told CNBC on Monday.
The ridesharing company and its competitor Uber are facing two separate lawsuits by some drivers who contend they've been misclassified as independent contractors and want full employee status.
While Green wouldn't comment specifically on the litigation, he pointed out that the company's mantra is "flexibility is the new stability."
"There's nothing about this that is a traditional employment relationship," he said in an interview with "Closing Bell."
"This type of sharing economy work, whether you are doing it for a few hours or just on your way into the office, is a whole different world."
In addition to full employee status, the plaintiffs are seeking reimbursement for expenses like car maintenance costs and gasoline.
Green said that Lyft drivers work an average of 14 hours a week and noted that in Los Angeles, 60 percent of its drivers work in the creative industry. That means they can work at Lyft to pay the rent and then chase their dreams in Hollywood, he said.
Meanwhile Lyft recently announced it raised $530 million in funding, which the CEO called "a huge vote of confidence about the values of the company and the size of the problem we're solving."
Green also addressed the competition between Lyft and Uber, noting the two companies are "extremely competitive."
"I think it pushes us to both be better. Ultimately you know I think Uber is a good car service but Lyft is going after a much bigger problem in trying to make life without a car possible and reinvent the way people get around cities," he said.
"If Uber wants to step into that and help push progress in that direction, we welcome it."
—CNBC's Kate Rogers contributed to this report.