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Funnily enough, Deliveroo has just announced today they are exiting the German market. It's interesting how in so many places there's just one big player left (in Austria there's mjam, in Germany there's takeaway/lieferando). Maybe the market is not big enough for several competitors?

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At least one player in each market is executing the "take investor money; earn huge losses in the first five years to kill competition and corner the market; then crank up rates to become profitable" strategy right now.

The thing with that strategy is, you can only do it once, using your initial capital. After you've set your new prices, new players are free to enter the market and compete with you on cost, driving you back out of profitability.

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