In May, I shared a deck made up of insights, observations and predictions for the present and future of the food delivery space, after spending 2.5 years at Uber working on building Uber Eats. Sharing the deck was meant to be a test of how sharing material using slides, rather than articles or blog posts, impacted engagement.
The results were clear — decks result in better engagement. The deck was seen by over 100,000 people (including being shared on Hacker News) in over 100 countries. …
It sounds strange, but we are in the golden age of food delivery. Venture capital and other private equity firms are pouring hundreds of millions into the space, seemingly every few months. Globally, many similar services are fiercely competing for market-share by subsidizing the cost of deliveries. This is a win for consumers (“eaters”), as they are often able to enjoy food from their favorite restaurants from the comfort of home for the same or even lower cost they would pay in-store.
Some worrying signs for Lyft as it preps for IPO:
Their uptick in marketshare in the US has been fairly strongly correlated with an increase in operating losses. It seems likely that they have been essentially buying short-term share. With losses hitting just under half of their annual revenue, this is not sustainable.
None of the founders own more than 1% of the company. That reads, to me, as though they’ve struggled to raise capital in the past and have needed to give advantageous terms to get investors to come in.
Product Manager @ Airbnb. Startup advisor. Previously helped build Uber Eats.