Ah yes, the Grubhub letter. Consumers have choices (or at least appearance of) and classic market dynamics take over.
Makes me think that not all marketplaces are equal: some might compress margins even further with inefficiency or multiple actors with a take rate. Of course food comes to mind, as margins are already thin. And, some marketplaces add value - curation, shipping and easy returns, warranty, etc.
Ah yes, the Grubhub letter. Consumers have choices (or at least appearance of) and classic market dynamics take over.
Makes me think that not all marketplaces are equal: some might compress margins even further with inefficiency or multiple actors with a take rate. Of course food comes to mind, as margins are already thin. And, some marketplaces add value - curation, shipping and easy returns, warranty, etc.