So how do you low-end disrupt a high-quality, ultra-low-margin or even free product? How do you get a price lower than the $0 they’re paying today? You go negative; you actually pay people to use the product, in a currency that gets more valuable as more people join.
If capitalism is driven by a search for profit, the food delivery business confuses the hell out of me. Every platform loses money. Restaurants feel like they're getting screwed. Delivery drivers are poster children for gig economy problems. Customers get annoyed about delivery fees.
This system of fair exchange drove extraordinary improvements in global equality, poverty and innovation over decades. But since the early 1990s, social mobility has slowed considerably. According to the OECD, it now takes at least five generations for a child born into a low-income French, German, Korean, British or American family to reach... See more
It's important to do things fast: You learn more per unit time because you make contact with reality more frequently. Going fast makes you focus on what's important; there's no time for bullshit.