Ben Gilbert: belief

Transcript context

…I would say also too even on that, one thing, we don't get delivery often. I've done it the last couple of nights in research for this episode. But what we do often is takeout and I think this is one of the things that's really smart that DoorDash has invested in is making that a feature on the platform, too. It's way more I vastly prefer and probably the restaurant vastly prefers me to place my takeout order to walk over and pick up from my local Thai place via an app rather than calling them and tying up the phone lines. DoorDash has found a way to enable that and get paid for it. Yup. The biggest bear case I think you can make is that they're not going to be able to make the leap out of this restaurant category and this is going to continue to be a razor thin, highly competitive business, and they're just never going to be able to take all the investment that they've made and actually get to benefit from an immensely cash flow positive output on the other side. Yeah, that makes sense. I guess maybe there is one more legitimate argument you can make on the bear case, especially at this valuation, which is this [...] is maybe not as big as you think. Obviously it's big, but how big is it now? In the S-1, they talk about what is it, I want to say something like $600 billion off premise restaurant food annually in the US.…

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