Re:DoorDash raises minimum pay to $29.93 per hour in NYC
by troupo on Tuesday December 05, 2023 @02:48AM
(#38528125)
> it seems as if Uber’s losses were self-evidently sustainable.
With the unlimited free investor money. Same goes for the rest of "amazing starup innovators" of recent years (e.g. YCombinator's startups). The flow of money has now stopped/slowed, and we now see mass layoffs and a wave of bankrupcies.
Losing a billion dollars a year for 10 years is not a sustainable business. But somehow it has become the norm in IT.
With the unlimited free investor money. Same goes for the rest of "amazing starup innovators" of recent years (e.g. YCombinator's startups). The flow of money has now stopped/slowed, and we now see mass layoffs and a wave of bankrupcies.
Losing a billion dollars a year for 10 years is not a sustainable business. But somehow it has become the norm in IT.