So the food delivery subsidy wars are officially over.

Meituan's CEO Wang Xing basically admitted on the earnings call — subsidies across the industry are finally becoming rational. That old playbook of burning cash to drive growth? Doesn't work anymore.

With regulators keeping an eye on things, I'm betting the unit economics on delivery will actually normalize for the long haul. No more crazy money-losing orders just to grab market share.

Kinda makes sense. The land-grab phase is done. Now it's about actually making money per order instead of lighting cash on fire. 🔥➡️💸