Hey Snackers,
We never thought we would have to compete with potato chips, but here we are: Pepsi just launched Snacks.com for online delivery of digestible snacks__ like Cheetos, Lays, and Doritos (they beat us to the domain name circa 20 years ago). FYI: we're snacks.robinhood.com đ
All 3 major indexes had their worst daily drops since May 1st, as renewed COVID-19 outbreaks crop up in South Korea, Germany, and China (which have all recently loosened restrictions). Dr. Fauci warned the US could face more deaths if states reopen too quickly.
All Uber the place... Uber's been on a consolidation streak lately. First came last week's sizable investment in e-scooter company Lime (and consolidating it with its own e-scooter/bike biz). Now, Uber has reportedly offered to acquire Grubhub (to consolidate with its own Uber Eats delivery) as early as this month. Let's reacquaint ourselves with the mafia-style delivery wars:
Tackling the promiscuity problem... Back in October, Grubhub's CEO famously called its users "promiscuous" â there's no loyalty in the food delivery game, as you switch from app to app according to whoever offers the best promos.
Consolidation breeds consolidation... And more of it is coming. Once 2 competitors merge to form a mega-competitor, even the biggest competitor in the game will feel threatened, and then be tempted to team up with someone else. If Uber and Grubhub mega-merge, DoorDash might team up with Postmates to regain its don-style market leader status.
Test driving the couch... You buy socks, matcha powder, and dumbbells from your couch â why not throw a minivan in the cart too? Online used-car seller Vroom reportedly just filed to go public â and it's circled the calendar for June. Vroom wants to disrupt the car dealership experience:
Not every company that plans/files to IPO actually does it... Postmates, DoorDash, and (cough) WeWork still haven't. But Vroom's plan to IPO in June, in the middle of the corona-conomy, suggests it's confident in its outlook (or it just needs to raise money):
Vroom thinks its IPO filing is coronavirus proof... Vroomâs S-1 filing (it's still confidential) will give potential investors a lot of info â we're betting Vroom will highlight its corona-conomy strengths: Vroom's anti-human-contact, online-focused biz model. And for people looking to avoid public transit, Vroom's used cars may fit snuggly with economic strain and germ worries.
Never wear real pants again... Twitter just told employees they'll be allowed to work from home forever. Jobs that require being physically present will still have to come in, but other than that, WFH is officially a forever thing. Google and Facebook and a bunch of others have already made WFH optional until 2021 â but "forever" takes it to a whole new level:
But there are a lot of unknowns... Do employees really want to work from home forever? Will this hurt productivity, collaboration, and collegial relationships? Will Twitter lose talent/applicants to companies with cool, social offices if people don't want a remote office culture? WFH is also almost entirely dependent on services like Slack, which had some down time yesterday.
This could be the start of a mega-trend... But its effects aren't so clear. Permanent WFH hasnât been tested long-term, so we really don't know how it might affect company/employee success. Guess Twitter can be the guinea pig, if enough employees choose to do it (permanent work from home will be optional at Twitter, not mandatory).
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