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I wonder if that means the "VC-subsidized" companies are going to go out of business. I don't know the list of them, the extent of it, or anything, but from wh
by mancerayder 4y ago
I wonder if that means the "VC-subsidized" companies are going to go out of business. I don't know the list of them, the extent of it, or anything, but from what I understand (again a source would be fantastic), companies like Uber held artificially low prices in order to show customer growth, and for some companies in the face of competition.
We have inflation and soon, reduced discretionary spending power which is becoming rapidly more obvious.
Airbnb fees are through the roof, and tons of people are choosing hotels over them again. "AirDNA" recently showed a trend towards vacancy, and if you read reddit subs on the topic you'll see hundreds of people piling on saying things like, "I used Airbnb for years, it used to be cheaper than a hotel, now not only is it drastically more expensive with the service and cleaning fees, but the hosts leave a laundry list of TODOs before I check out, and I can't check in til 4pm"
Now what?
- vishnugupta 4y agoIt played out similarly with app-based taxis in India (Uber, Ola). They subsidised drivers and riders and it was reliable enough that I had given up driving. However things quickly reverted once they cut-down driver subsidies. The supply tanked immediately and getting a taxi meant waiting for 20-40 minutes and face multiple cancellations. So I gave up and went back to driving. Uber/Ola are on their last breath in India.