And despite all of that ... Chewy is successful.
CHWY is -7% per year since Sep 2019, while SP500 is +16% per year, and CHWY has 2% profit margins, give or take. I don’t know what success means, but I would not have wanted to buy CHWY stock anytime after IPO.
My favorite example is WebVan vs. Instacart. What a difference a decade makes.
Uber / gig economy seems to be the biggest difference
In some ways, the biggest "new form of business/commerce" that ubiquitous smartphones lead to was the entire gig economy.
CHWY is -7% per year since Sep 2019, while SP500 is +16% per year, and CHWY has 2% profit margins, give or take. I don’t know what success means, but I would not have wanted to buy CHWY stock anytime after IPO.
My favorite example is WebVan vs. Instacart. What a difference a decade makes.
Uber / gig economy seems to be the biggest difference
In some ways, the biggest "new form of business/commerce" that ubiquitous smartphones lead to was the entire gig economy.