I'm starting to think that consumer subscription services that aren't marginally "free" are basically impossible to keep going long-term, unless subsidized by other parts of the business.

By marginally "free" I mean like cable TV - it doesn't cost much at all to enable some channels for a customer, even though you charge them $79.99.

But something that costs $50 to provide, sold for $80+, there's no margin there even though it appears there is.

Grocery stores have tried the "meal in a box" and failed; and they're best positioned for it.

I mean, that's basically it. Blue Apron was being evaluated purely based on revenue growth like a tech company. If you were buying their stock you were not actually looking at their product margins.

Much of the last twenty+ years can be summed up as "low margin business sold as a high-margin tech company to investors".

That's too bad. There's merit in the idea. It's good for people to cook more, and the easier you can make it for them, the better. It's a good way to try out recipes, ingredients, and techniques that might otherwise be difficult or off-putting.

But yeah, the margins are brutal. And the market is a sliver: people willing to cook but not wanting to do all of the research and shopping. I've never had the service because I actually enjoy cooking and even shopping for groceries. But I've helped other prepare their Blue Apron deliveries, and I really enjoy it.

So I hope that the business model doesn't get completely squeezed out, even though I'll never use it.