DoorDash, Uber, Lyft and WeWork's parent all became top industry players after raising billions from investors who subsidized the companies’ costs, but none is profitable
Heather SomervilleThe discounts and freebies many tech startups have used to lure customers—free lunch delivery, $3 beauty products and bargain taxi rides—have fallen out of favor with investors who are losing patience with the failure of these companies to turn a profit.
The proliferation of subsidized products and services from venture-capital-backed startups over the past decade reflected a rush by investors to fund the next behemoth consumer-tech company. The thesis: Create a market leader with loyal customers hooked by attractive deals...
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