The Race for Your Dollars

Land of the Giants

Vox Media Podcast Network

Technology, Society & Culture, Business

4.6 • 2.3K Ratings

🗓️ 29 June 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The restaurant delivery industry is worth more than $100 billion. But none of the major apps are profitable. In this episode, the key battles that have shaped the delivery wars from the point of view of founders, company executives and venture capitalists. And a key question: With billions invested, rockstar IPOs and a pandemic that exploded the growth of the industry, why aren’t these companies profitable? Hosts : Ahmed Ali Akbar (@radbrowndads) & Jason Del Rey (@delrey) Enjoyed this episode? Rate us ⭐️⭐️⭐️⭐️⭐️ and leave a review on Apple Podcasts. Want to get in touch? Tweet @recode or @eater. Subscribe for free. Be the first to hear next week's episode by subscribing wherever you get your podcasts. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:26.6	Not investment advice, crypto trading involves risk of loss.
0:30.2	I want to take you back to 2019 now.
0:32.9	It was a time when Grubhub CEO, Matt Maloney,
0:35.8	was coming to grips with a new reality.
0:38.5	The company's third quarter results were mediocre.
0:40.7	The outlook for the next quarter was even worse.
0:43.3	So, Maloney had to explain what was going on to his shareholders.
0:47.3	He wrote a letter.
0:48.8	And in this letter, there was this one line in particular,
0:52.3	where you really get the feeling that Maloney was frustrated.
0:56.0	Recoads Jason Delray is here to help me tell the story.
0:59.3	Jason, you want to do the honors?
1:01.2	Sure, it's kind of quick. Here's the quote.
1:04.1	We believe online diners are becoming more promiscuous.
	...

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