When my co-founder James and I started our mobile-based laundry service in 2013, the “on-demand” economy was starting to emerge.
VCs were excited to find the next Uber and companies were launching on-demand services in all verticals imaginable (more broadly known as “Uber for X” companies). Fast forward to today where a few companies have found success with the on-demand model, but several more have struggled. In recent months, we’ve seen several well-funded startups with strong teams either going through layoffs or shutting down entirely. The natural question to ask is why?