Armitage Archive

It's hard to find numbers for Uber Eats, but Uber itself lost $6.8 billion—and that's better than its $8.5 billion loss in 2019. And it's unsustainable for individual investors, too; food delivery doesn't work for anybody. The drivers—gig workers with no benefits or job security—are poorly paid. The services hurt restaurants: they're not profitable for a whole bunch of reasons, they don't bring in incremental sales, and a restaurant's reputation suffers when the delivery service screws up. Even the customers don't fare well: they're hit with service fees and higher prices and suffer all sorts of delivery problems.