- After years of venture capital-subsidized losses to gain mass adoption, millennial-targeted services (eg Uber, Airbnb, food-delivery) seeking profitability are sharply increasing prices.
- From 2012 until pre-pandemic 2020, these platforms were collectively losing billions; at one point Uber was losing $1M per week in San Francisco alone from offering discounts.
- The average Uber ride and Airbnb rental are currently 35-40% higher than 1 year ago.
- The “Millennial Lifestyle Subsidy” will continue fading as more companies go public and face shareholder scrutiny to generate profits.
