#WR: Why Uber and Airbnb are suffering hard the COVID-19? @WSJ said that in 2 weeks Uber fired 3,000 and 3,700 people, in total a quarter of its workforce. In my view Uber and Airbnb are #businesses that only can work well in hyper dynamic economic cycles. #COVID19 #Uber #Airbnb
#WR: In addition to the 6,700 workers fired by #Uber, @WSJ wrote that ‘In recent weeks, rival #Lyft Inc. said it would slash 17% of its staff, and #Airbnb said it is cutting about 25% of its jobs after bookings on its site plummeted with people largely unable to travel.” #COVID19
It is sad to recognize that no all the new tech businesses can run well at any time. But it is evident that business models like Uber, Lyft and Airbnb in between others only navigate well when the economic waves are intense and the people need these services yes and yes.
In times of pandemics or recession, when the people don't have money to buy basic food and they have to stay at home 24 hours, it is obvious Uber, Lyft or Aibnb cannot have good customers.
In summary, COVID-19 is hard lesson for all the entrepreneurs who believe the money always will fly to their pockets.
SOURCES:
#WR: Why Uber and Airbnb are suffering hard the COVID-19? @WSJ said that in 2 weeks Uber fired 3,000 and 3,700 people, in total a quarter of its workforce. In my view Uber and Airbnb are #businesses that only can work well in hyper dynamic economic cycles. #COVID19 #Uber #Airbnb
#WR: In addition to the 6,700 workers fired by #Uber, @WSJ wrote that ‘In recent weeks, rival #Lyft Inc. said it would slash 17% of its staff, and #Airbnb said it is cutting about 25% of its jobs after bookings on its site plummeted with people largely unable to travel.” #COVID19
AND:
"Coronavirus Layoffs Remake Silicon Valley Job Market" by Asa Fitch, Wall Street Journal, May 20, 2020.
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