“You might call it the Millennial Lifestyle Sponsorship, in which consumer tech companies, along with their venture-capital backers, help fund the daily habits of their disproportionately young and urban user base. With each Uber ride, WeWork membership, and hand-delivered dinner, the typical consumer has been getting a sweetheart deal.”— The Millennial Urban Lifestyle (The Atlantic)
From a customer POV? Sweet.
From an employee POV? Not so much.
Forgive me for being dense and never fully understanding the scheme behind VC-backed startups that rake in billions of dollars but don’t turn a profit.
I’m a simple guy. Maybe that’s why I’m drawn to tech companies that have a clear model: it costs us X, we charge X+20%, we re-invest the profits, we’re a sustainable business.