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DoorDash's business boomed in the pandemic, becoming a literal lifeline to many. Now it faces big questions as restaurants reopen.

Axios Re:Cap talks to CEO Tony Xu about the future of his company and the broader restaurant and e-commerce industries.

Go deeper

DoorDash, Airbnb beat revenue expectations in first post-IPO quarter

Illustration: Aïda Amer/Axios

Both DoorDash and Airbnb beat analyst revenue expectations on Thursday in their first quarter as public companies. Both also have significant losses, which they attribute mostly to IPO-related costs and stock-based compensation.

Why it matters: The two companies became Silicon Valley darlings amid the pandemic as they capitalized on resulting consumer trends.

DoorDash says delivery drivers are earning more after Prop. 22

Illustration: Sarah Grillo/Axios

Food delivery company DoorDash says that in January, its couriers in California netted on average 30% more in hourly earnings than they did in 2020 prior to the passage of Prop. 22 in November.

Why it matters: Much of the companies' pitch to voters was that Prop. 22 — which allowed gig economy firms to treat workers as contractors rather than employees — would translate to higher earnings for workers, but has faced skepticism from some drivers and critics of the industry.

Fed Chair Jerome Powell says U.S. economy is at an "inflection point"

A screenshot of Federal Reserve Chair Jerome Powell on "60 Minutes." Photo: CBS

Federal Reserve Chair Jerome Powell told CBS' "60 Minutes" in an interview broadcast Sunday that the U.S. economy is at an "inflection point," with growth and job creation forecasts looking strong.

Of note: In his interview with CBS' Scott Pelley, Powell said it's "highly unlikely" the Fed would raise interest rates this year.