We (consumers) didn't put anything on a CC. VCs did.
And I count that for the blessing it was. I ordered tons of subsidized food on DoorDash, cheap rides on Uber, etc.
Now that golden era is over, and I will not be ordering any more of that stuff at the now exorbitant prices.
Thank you based VCs, for comping a bunch of stuff for me the last 10 years.
The only structures that were torn down were things that required capital and upkeep. So for example, once you starve the beast of the taxi industry, then the fleet decays and they can’t compete without new capital investment.
For a small restaurant delivery, they can at any point hire another person to run orders just as they always could, with no loss. The reason this is not viable is because the whole economy got disrupted by covid and now it’s not actually feasible for someone to earn a living just moving parcels of food around locally. Like literally the unit economics don’t resolve positively because CA minimum wage is $15 an hour and you need even more than that to have a decent life.