Uber

“I just don't think there's a way that a public company that raised like a hundred million in IPO is going to outcompete. Companies that have raised four billion dollars each, I think, in Uber and DoorDash like to crush you.”

“And it allowed them to use their supply that, that was signing up for Uber, but maybe didn't have a good enough car, or maybe the person was too young. So it allowed them to get some more efficiency on their supply acquisition as well.”

“TAM is kind of a misleading metric for marketplaces, because in all the biggest marketplaces like Uber and Airbnb, it looked like there was no TAM.”

“That made them a little bit less fragile to the pandemic because while, you know, rides shrank during the pandemic, food delivery demand went up and Lyft didn't really have that counterbalance only being focused on rides.”

“A bunch of people tried to copy Uber's launcher strategy, and then a bunch of people like almost went bankrupt doing it because it's really expensive and they weren't raising billions. You didn't really understand what your playbook required. You were just kin…”

“And famously, Uber, like, does not believe this. They believe supply is all that matters, and I fundamentally disagree. Supply is It's a lot of times the tool to get demand, but owning demand is what keeps the supply happy.”

“Uber early on was all about legitimacy. These are licensed drivers. It's a black car, all this kind of stuff. And Lyft was like, oh yeah, it's like your neighbor and it's fun and it's friendly and it's safe. And then I think Uber was smart to say actually thei…”

“Uber was very much about, you can be a little bit more fast and loose, get stuff out there, learn. And to your point, ops was really important to the point where sometimes operational changes could have a drastically bigger impact on the business, on the user,…”

“If you look about, you know, look at TaskRabbit, we were too early. Like we should have waited five years, followed on Uber or something like that. Like we could have done that a totally different way, but definitely some timing, right time, right place, solvi…”

“It's not just 30% that these delivery apps take from the restaurant. It's also 20% on average that they're charging the consumer.”

“Uber actually did pay for a year for a support contract. And it was a lot of money. It was a big, big contract for us. And we did, we chose to not renew it. And I'm like, I don't want to be in that business. I don't want to sell on-prem software. I don't want …”

“If we don't make money, nobody will make money in this industry because we will gut the whole thing. And that was the entire strategy of like, you know what? It's okay that Uber doesn't pass because Uber's not gonna pay anybody. And we've just removed that. An…”