David Rosenthal: prediction

Transcript context

…Yeah, close to a million restaurants. For us, our growth is also supply-led. If you think about post pandemic, one of the reasons why I think, generally, we're doing really well and gain a bunch of category share versus Lyft coming out of the pandemic, was because we really focused on bringing those drivers back to the platform, building our service, et cetera. It was a supply-led way of building the business, which definitely was a learning that I took from booking.com. With Booking, you can build a market of geography for hotels and then use that to build a vertical. You can do the same thing at Uber in a way that your competitors on both sides of the business can't because you can cross market, rides, and Eats. Exactly. Especially in the US, there's a much more crossover between couriers who deliver food, and then drivers who drive people, there's a much larger crossover. We can actually use Eats almost as a recruitment tool. At that moment, when someone says, I am interested in earning gig money on demand, et cetera, with all the flexibility, freedom, et cetera, the faster you can get that person earning money, the higher the conversion rate. Because of Eats, you don't need to get your car inspected. There are a lot of additional steps, background check, et cetera, that's required for driving. Those steps don't necessarily need to be completed to deliver food. You can get people into the food ecosystem, they can start earning on the Uber platform, and then you can upsell them into additional opportunities, driving people, shopping, et cetera. It's a structural recruitment advantage we have in terms of building up supply. As you build up the supply, the liquidity in the marketplace gets better. Surge comes down, pricing gets better, ETA gets better, your ability to price gets better, and the demand goes up to some extent.…

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