Disagree with @asymmetricinfo.
1) We didn’t run out of global software businesses: Slack, Stripe, Coinbase, Robinhood, etc
2) On-demand is working for Instacart and Doordash. Autonomy will improve margins over time.
3) Regarding Uber, see next tweethttps://twitter.com/asymmetricinfo/status/1262782944260825089 …
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Uber was an absolutely phenomenal business, but it was hit by three things: 1) didn’t acquire Lyft 2) negative press 3) coronavirus If 1/2 hadn’t happened, they may have run a low-margin scale business like Amazon. But 3 broke much of the sharing economy, not just Uber.
24 replies 8 retweets 88 likesShow this thread -
Replying to @balajis
Fred Wilson had a good post on this last year. Public market investors perceive value in these software-eating-the-real-world businesses differently than companies w/ pure software margins.https://avc.com/2019/09/the-great-public-market-reckoning/ …
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also "negative press" isn't the right way to attribute this. Negative press is usually just symptomatic of deeper cultural and structural problems that need to be fixed. @smc90 and Margit had a good podcast on this a few years back:https://a16z.com/2017/04/13/crisis-communications-basics-mindsets/ …
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