Uber and smaller rival Lyft (NASDAQ:LYFT) had rough debutante balls last year, but the two broken IPOs are the ones thumping the market in 2020. Investors are gravitating to the stocks, even as the two companies begin to pull back in some areas. Uber unloaded its problematic food-delivery platform in India earlier this month. Lyft announced a restructuring on Wednesday that included laying off a little less than 2% of its workforce.
Taking a step back may not be a good look on the surface, but Anmuth believes that rationality is finally starting to make itself known in this niche. Both Uber and Lyft appear to be scaling back on their discounting promotions and shifting their marketing efforts to loyalty products and subscription plans that will keep customers close. An industry that lost billions last year could be profitable on an adjusted basis as soon as next year with Uber leading the way.
Imagine a true economic apocalypse, one that makes the German hyperinflation of the 1920s, with its wheelbarrows of near-worthless paper currency, look like a hiccup. To prepare for the worst worst-case scenario, some doomers prefer daily staples like tampons, vegetable seeds and cigarettes (that timeless prison medium of exchange) to silver or gold as an alt-currency.

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