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The flaw in the model is that companies like these do not exist to provide a service to customers - they exist to persuade investors they're worth funding.

Homejoy was primarily a cash hoover, not a carpet cleaner.

On that basis it worked okay for a while. But the emphasis on Insane Growth [tm] as a metric for potential unicorn-hood meant that customer care, customer retention, and service quality - never mind basic business metrics like profitability - all declined to the point where these was only an empty shell of a business covered by a paper imitation of a multinational corporation.

The lawsuits didn't help, but I doubt they killed the company on their own.




I agree.

Also ISS was actually so modern that my own mom who was a simple cleaning lady had stock in the company and this is 20 years ago.

So actually disrupting them requires something more than underpaying your workers.




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