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by jfrunyon
1847 days ago
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> I’m having trouble conceptualizing how they are making any actual profit after expenses They're not. They aren't profitable. They have never been profitable. They admit that they would not have been profitable even without COVID last year. They do not expect to be profitable until Q4 of this year - if you remove half their costs and their assumptions hold. They do not expect to actually be profitable (even on EBITDA) for even longer. http://techcrunch.com/2021/02/12/will-ride-hailing-profits-e... > in the meantime they (and their ilk) are pushing the traditional restaurant delivery network away since they cannot compete or price nor convenience. https://en.wikipedia.org/wiki/Predatory_pricing |
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