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> we were putting everything on a credit card and not worrying about the bill that eventually had to be paid We (consumers) didn't put anything on a CC. VCs di

by gretch 3y ago

> we were putting everything on a credit card and not worrying about the bill that eventually had to be paid We (consumers) didn't put anything on a CC. VCs did. And I count that for the blessing it was. I ordered tons of subsidized food on DoorDash, cheap rides on Uber, etc. Now that golden era is over, and I will not be ordering any more of that stuff at the now exorbitant prices. Thank you based VCs, for comping a bunch of stuff for me the last 10 years.

juped 3y ago
Thank you, Boomer pension fund managers, for giving nonboomers like me some of that pension fund money!
mtsr 3y ago
Except a lot of the formers ways of doing things / getting things have been pushed out of the market with all the capital influx. So there aren’t any small stores anymore, small restaurants don’t do delivery anymore, etc etc.
- gretch 3y ago
  Small restaurants doing delivery doesn’t make sense as an example. The only structures that were torn down were things that required capital and upkeep. So for example, once you starve the beast of the taxi industry, then the fleet decays and they can’t compete without new capital investment. For a small restaurant delivery, they can at any point hire another person to run orders just as they always could, with no loss. The reason this is not viable is because the whole economy got disrupted by covid and now it’s not actually feasible for someone to earn a living just moving parcels of food around locally. Like literally the unit economics don’t resolve positively because CA minimum wage is $15 an hour and you need even more than that to have a decent life.
- WJW 3y ago
  Are you living in the same world as me? When I go into town there's a ton of small shops. Small restaurants are absolutely everywhere, either to eat in or to get delivery from using one of several delivery apps. I cannot relate to your comment at all.

by gretch 3y ago

juped 3y ago

Thank you, Boomer pension fund managers, for giving nonboomers like me some of that pension fund money!

mtsr 3y ago

Except a lot of the formers ways of doing things / getting things have been pushed out of the market with all the capital influx. So there aren’t any small stores anymore, small restaurants don’t do delivery anymore, etc etc.

gretch 3y ago
Small restaurants doing delivery doesn’t make sense as an example. The only structures that were torn down were things that required capital and upkeep. So for example, once you starve the beast of the taxi industry, then the fleet decays and they can’t compete without new capital investment. For a small restaurant delivery, they can at any point hire another person to run orders just as they always could, with no loss. The reason this is not viable is because the whole economy got disrupted by covid and now it’s not actually feasible for someone to earn a living just moving parcels of food around locally. Like literally the unit economics don’t resolve positively because CA minimum wage is $15 an hour and you need even more than that to have a decent life.
WJW 3y ago
Are you living in the same world as me? When I go into town there's a ton of small shops. Small restaurants are absolutely everywhere, either to eat in or to get delivery from using one of several delivery apps. I cannot relate to your comment at all.