8 Comments
Jul 20, 2023Liked by CJ Gustafson

excellent take

Expand full comment
Jul 18, 2023Liked by CJ Gustafson

Fast.co and Bolt are fantastic case studies on this.

Expand full comment
author

excellent examples

Expand full comment

Excellent piece 👏

Expand full comment
author

Thank you my man

Expand full comment

its kind of wild to me that no where in this entire article did the author bother to mention what GMV stands for.

Expand full comment

Just because VCs didn't want to miss the valuation gravy train they blindly followed metrics which would be rubbish to someone with common sense let alone an Ivy League management degree.

Expand full comment

Question for you: What would have happened if Uber and Lift charged two separate transactions for every ride. One charge for their take rate and a second charge also on the rider's credit card going directly to the driver? Doing so would have prevented them from being sued for using independent contractors for the drivers. But if would have also dramatically lowered their "Revenue" causing the investors (VC & public) to think of them as a much smaller company.

Expand full comment