Uber Eats just spent $5.5 million plus whatever it cost to get Cardi B, Mike Meyers and Dana Carvey to tell us to "support local restaurants" while putting local restaurants out of business by charging them 30% delivery fees.
Some of us are lucky enough to inherit the following balance sheet from our parents:
Contacts: 0
Money: 0
Power: 0
Resiliency: ♾
Desire: ♾
Drive: ♾
Grit: ♾
How lucky were WE?!?!
There is no connection between the stock market and reality.
A thread:
1. Airlines spent 96% of free cash flow on stock buybacks for a decade, then cut 90,000 jobs as soon as trouble hits. Then they got a $50 billion bailout
bloomberg.com/news/articles/…
So to recap we told people to stay home for the last 325 days and gave them $1,800. That's $5.54 a day.
Meanwhile, they pumped about $3 trillion in to the stock market for corporations, which then turned around and did record layoffs anyway.
When we doubled our minimum wage to $70k, we didn't raise fees 1 cent on our small-business customers.
How? I slashed my CEO pay, we saved big on costs like turnover/training and our happy employees drove in more business.
A higher minimum wage can work without higher prices.
Our big competitor (Toast) raised $900M then laid off half its staff. Afterward its valuation went from $5B to $8B.
We're way smaller, have $0 in outside funding and faced the same revenue decline. We laid off 0 people, killing our profit.
Business is about choices.
Lastly, if you think what Twitter and other companies did is "censorship," or "like the USSR," you don't know anything about censorship or the USSR. I do, and when the state attacks a company for offending an official is when you're getting closer, not the other way around.
Boeing:
*Responsible for 2 plane crashes that killed 346 people
*Engaged in a government cover-up and was charged with criminal fraud conspiracy
*Fired CEO left with $81 million exit package
*No one went to jail
*Fined $2.5 billion - 2% of annual revenue
cnbc.com/2021/01/07/doj…
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