Do you sometimes wonder how it all works? How does it work?
Because according to publicly available data on the finances of instant delivery platforms, this business is a disaster. The four leading platforms have continued to generate billions of dollars in losses since their shares were listed on stock exchanges.
Just Eat Takeaway: listed on the stock exchange since 2020, in Poland as dobre.pl – the total loss is USD 9.1 billion.
Delivery Hero: listed on the stock exchange since 2017, in Poland as Glovo – loss of USD 7.8 billion;
DoorDash: listed on the stock exchange since 2020, in Poland as Wolt – loss of USD 2.6 billion;
Deliveroo: listed on the stock exchange from 2021, not available in Poland – loss of USD 777 million;
In addition, there is a classic of the genre: the Uber platform, which has had a total loss of $31.5 billion since 2014 – with an extremely questionable profit in 2023.
So, if we earn pennies and the Platforms claim that they make losses, how does it work out? Who finances it? The answer is quite simple. Platforms are the essence of modern capitalism. First of all, the costs and risks are transferred to employees – we contribute to this circus with our work and exploitation. Secondly, it is financed by shareholders, attracted by the vision of possible future profits, buying subsequent series of shares. Because everyone hopes that the effect of scale and domination will finally work. The platforms argue that this is a classic Internet business: you just need to gain a majority share of the market, and then it will stabilize and the profits will come. And they will no longer be counted in millions, but in billions.
And certainly, yesterday, today and tomorrow, the management boards and supervisory boards of Platforms are and will be winners. There, money is paid out in really large amounts and certainly on time.
#zentrale_rzeczywistosc