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DoorDash Worth Billions as Restaurants Close En Masse

. It took a pandemic, making consumers and restaurants increasingly dependent on delivery, for third-party platform DoorDash to finally eke out a profit after quarter upon quarter of losses in the hundreds of millions. It’s a company that exploits the vulnerabilities of gig workers, gouges its restaurant partners, preys upon restaurants that aren’t partners, and subverts government regulations. It’s not unique in its competitive set it’s easy for both customers and restaurants to switch platforms nor is it guaranteed to maintain profits post-pandemic. As Ranjan Roy put it in the (wonderful) Margins newsletter earlier this year, “[DoorDash] was among the WeWorkian class of companies that, for me, represented everything wrong about startup evolution through the 2010s. Raise a ton of money, lose a ton of money, and just obliterate the basic economics of an industry.”

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