Phoenix police officers on Saturday fatally shot 28-year-old James Garcia in a parked car. The killing, which was captured on video, has led to renewed protests against police violence
Photo: Patrick T. Fallon/Bloomberg via Getty Images Yesterday, Uber announced it had successfully bought Postmates in a $2.65 billion deal after first trying, and failing, to merge with Grubhub — a plan ultimately foiled, at least in part, by antitrust concerns. So Grubhub instead joined forces with a European company called Just Eat Takeaway, and Uber bought Postmates. Last summer, DoorDash bought Caviar. The era of delivery-app consolidation is now fully upon us.
Whether this profitable future will ever actually arrive is a separate question — as Barro noted, Uber has been providing rides for a decade now and still isn’t in the black — but that’s the idea. First market share, then money . Despite any misgivings, Grinker isn’t about to abandon the apps: “I mean, listen: We do a shitload of business with all of the delivery platforms. We use Grubhub. We use DoorDash. We use Postmates. We use Caviar.” But the situation can’t continue in its current form — it only works as long as there’s venture capital to subsidize the losses — and that is where Grinker gets nervous. “It’s an old axiom, but competition brings prices down, and this is the opposite of that,” he says.
“We’re beholden to them at this point,” says Michele Gaton, who owns Extra Virgin in the West Village. You can take orders on your own website — and Extra Virgin does — but you have to be where the customers are, she says, and that is on the apps.
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