Source | LinkedIn | LinkedIn Daily Rundown (US)
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Public investors now favor tech companies valuing profits over growth, and Grubhub “isn’t delivering much of either,” says The Wall Street Journal. The food delivery service’s once imperious market share lead has been eaten away by rivals Uber Eats and DoorDash. As the two zoomed past GrubHub’s growth and market share metrics, the company’s market value has slumped. It’s down 53% in the past year – including 26% in the past three months alone. Alarmingly, analysts also expect its income to plummet more than 90% year-over-year in the current quarter. • Here’s what people are saying.
It’s no longer a question of if the U.S. is headed towards a recession, but when, and Americans appear unprepared for the threat of a possible downturn, say economists. About 40% of people in the U.S. say they are “somewhat prepared” for a recession if it were to happen within the next year, according to a new Bankrate survey, while 16% say they’re not at all prepared. Experts recommend preparing while the economy is on “firm footing,” i.e., households should try and pay off debt and boost emergency savings. • Here’s what people are saying.