As Restaurants Continue to Struggle, What are the Long Term Effects of Prop 22’s Passage?
The Passage Of Prop 22 In California
The passage of Prop 22 in California is a hollow victory for restaurants and their employees struggling to retain profitability during the COVID epidemic. With dining room closures now taking place throughout the United States, and Cold weather rendering outdoor seating unusable in many areas of the country, Restaurants are more dependent on delivery than ever before. These added pressures are set to make this holiday season incredibly difficult for restaurants to retain staff.
Michael Zimmerman’s Prentice Capital is having a strong year
Prentice Capital was up 15.3% net last month, bringing its year-to-date gain to 49.4% net. Prentice touted its ability to preserve capital during market downturns like the first quarter of this year and the fourth quarter of 2018. Q3 2020 hedge fund letters, conferences and more Background of Prentice Capital The fund utilizes a low Read More
In the eyes of many restaurant owners, Third-party delivery services such as Doordash are seen as a necessary evil. Yet at the same time, these services also charge businesses upwards of a 30 percent margin and do not provide their drivers with the safety and security offered by full employment.
Now one startup is trying to give businesses an alternative. inhousedelivery.com is gearing up to launch Driversharing.com, a service that allows restaurants to share their drivers both between locations and even different restaurants. If you have some time in the next couple of weeks, we would love to connect with you to show you what we’ve created.
Controlling The Media Narrative
Doordash and Ubereats are currently controlling the media narrative. We believe our platform can enable restaurants to offer delivery while paying workers fairly.
"As restaurants across the US look to survive, third party businesses such as Doordash will need to lower their commission percentages in order for businesses to stay open." Said Roger A Avats, Founder of inhousedelivery.com. "In the age of Covid, delivery workers are essential workers and deserve to be paid a living wage."