4 ms·
GrubHub... lost $33.4 million over the last 3 months. (In fairness: COVID-19.) I don't understand the qualifier. Hasn't Covid-19 been a boon to delivery servic
by hanging 6y ago
GrubHub... lost $33.4 million over the last 3 months. (In fairness: COVID-19.)
I don't understand the qualifier. Hasn't Covid-19 been a boon to delivery services? If they can't profit during these artificially beneficial market conditions (boosted demand and endless supply of minions to do delivery), how can they ever profit?
- weare138 6y agoI'm guessing it's because of so many of the restaurants being closed in urban areas during the lockdown and people having less money to spend on things like takeout.
- boublepop 6y agoThey are engineered to take a loss. If market conditions improve they ramp up costs. It’s not a game to maximize profits yet, it’s a game of trying to maximize vale extracted from losses.
- hazbot 6y ago"We're losing money on every sale!" "Don't worry, we'll make up for it in volume."
- jjeaff 6y agoIs that from silicon valley? Because I have to say that Seinfeld (Kramer) already did that bit, hilariously, many years ago.
- tanseydavid 6y agoAccording to this post: https://www.barrypopik.com/index.php/new_york_city/entry/we_lose_money_on_every_sale_but_make_it_up_on_volume https://www.barrypopik.com/index.php/new_york_city/entry/we_... the original use of the joke/phrase goes back to at least 1933 and likely further.