One of the most amusing and galling things about companies like doordash and uber is that they are public companies. Fifty-sixty years ago, these types of firms would have been laughed out of the room at places like Brown Brothers Harriman if they had wanted to go public. What is their product? Absolutely nothing. An app for your phone. The New York Stock Exchange (now itself a public corporation) used to be a place where legitimate companies went to raise capital for their business. Now, it’s just a game room, so to speak, for those with nothing but the thinnest of reasons for a business to enrich themselves. It’s all a game.
One of the most amusing and galling things about companies like doordash and uber is that they are public companies. Fifty-sixty years ago, these types of firms would have been laughed out of the room at places like Brown Brothers Harriman if they had wanted to go public. What is their product? Absolutely nothing. An app for your phone. The New York Stock Exchange (now itself a public corporation) used to be a place where legitimate companies went to raise capital for their business. Now, it’s just a game room, so to speak, for those with nothing but the thinnest of reasons for a business to enrich themselves. It’s all a game.