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Comment by koolba | Hacker News Reader

I just don't get it. Who's buying this stock and why do they think that a company that is not profitable during a pandemic, with people locked in their homes and in-person dining outlawed, is going to be worth billions of dollars?

There's no loyalty in food delivery. Everybody is chasing the same promos. There's no moat. Just VC funded revenue.

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We're in a bubble, every IPO is being bought, we're in the manic state, "stocks only go up" they say, people FOMO into all kinds of stocks. I think we're in the peak time of scams, grifters and conmen. Heck, even the president is one. BTC at all time valuation again. Everything is amazing in the stock market right now. But look at the food lines, look at the covid cases and deaths, unemployment. We're heading to an insolvency event.

BTC is high because BTC is in limited supply. While US govt is pouring in trillions of dollars out of thin air into the economy, BTC is seen as a safe store of value. You can’t create that much BTC out of thin air. Just like gold, BTC is a good place to store money that doesn’t lose if value. Albeit a risky one. Gold is perhaps better.

BTC is a great store of value until better tech come out then it's done.

DoorDash doesn’t intend to be a “food delivery company”. Listen to their CEO in interviews. His catch phrase is that if you solve food delivery, you solve some of the most challenging aspects of last-mile logistics.

I expect they will transition away from food and into other verticals soon.

However, they are not solving that problem. They are throwing unlimited investor money at getting food delivered by overworked underpaid poor people.

That's ... that's not a solution.

UPS famously hired mathematicians to figure out the optimal way to plan their trucks' routes [1]. Now that is a solution.

[1] https://www.wired.com/2013/06/ups-astronomical-math/ and https://www.mathscareers.org.uk/ups-turn-left/

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