[kragen]

Yes, that's because of network effects, but that doesn't mean it's not because they're operating a two-sided marketplace. Operating a two-sided marketplace often provides extremely strong network effects; for example, listing a one-of-a-kind product for auction on eBay means you can't list it for auction on MercadoLibre. (Though now most MercadoLibre listings are mass merchants, not people cleaning out their storage space.) And I don't think MercadoLibre's survival is an example of where that moat failed; it was just outside eBay's moat.

Two-sided markets are kind of like Willie Sutton's banks. The buyers have to go to, say, Amazon, because that's where the products are. The sellers have to go to Amazon because that's where the buyers are. Amazon does whatever they think they can get away with to keep those relationships exclusive, which is the genius of Fulfilled by Amazon.

I suspect that you're right about the food delivery market. Probably most of the VCs investing in it also suspect you're right. They just aren't sure.

BTW I had to upvote your comment because some dumb fuck downvoted it.