Why are service apps like Uber and DoorDash losing so much money despite being so popular? What are they spending all that money on?
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I like to say: Here in startup land we burn money, the smoke attracts the customers.
Or for real, running a taxi service is expensive with all the drivers and the cars there are close to no economies of scale. Which is not super suprising seeing as the taxi industry never consolidated over the last like 50 years. Uber has no business model.
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