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Rosemary salmon quinoa bowl. Photo: Munchery

Munchery, an eight-year-old San Francisco meal delivery startup, announced its shutdown on Monday, becoming the latest to succumb to the harsh realities of the business.

The bigger picture: A number of companies have attempted to cook and deliver their own meals (or meal kits), but most have shuttered or struggled.

Some of the startups that have attempted to cook and deliver meals, and shut down:

Meanwhile, some meal kit startups like Plated and Home Chef sold to large grocers as a way to survive. Presumably, this enables them to tap into their parent companies' supply chains and lager customer reach.

The bottom line: Shuttling meals from restaurants to customers' doors is no easy business (as a slew of companies are finding out), but preparing food and getting it to customers comes with a whole host of additional challenges — often much more than startups can handle.

Go deeper

Janet Yellen co-opts Reaganomics phrase for new Davos speech

Treasury Secretary Janet Yellen at a speech this week. Photo: Alex Wong/Getty Images

The U.S. needs to focus on increasing its productive potential, Treasury Secretary Janet Yellen will tell world leaders Friday, calling for what she terms "modern supply side economics."

Why it matters: She is co-opting a phrase traditionally used by political conservatives to describe low-tax and deregulatory policies — and framing the Biden administration's initiatives as the best path forward to achieve greater national prosperity.

Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Calling the startup valuation peak

Illustration: Annelise Capossela/Axios

Anyone who's called a private market peak over the last decade, or even suggested that air was leaking out of the balloon, has been swiftly humbled. "Nothing matters" has consistently proven to be the only thing that matters.

Our thought bubble: The go-go era is history, even if the economy and new company formations remain strong.

3 hours ago - World

U.S. will give Russians written response to NATO demands, Blinken says

Blinken and Lavrov shake hands in Geneva. Photo: Russian Foreign Ministry / Handout/Anadolu Agency via Getty Images

Secretary of State Antony Blinken confirmed after a meeting with his Russian counterpart on Friday that the U.S. will provide written answers to Russia's security demands next week.

Why it matters: Russia claims to be waiting for "concrete answers" to its demands that NATO rule out further expansion and roll back its presence in eastern Europe before deciding its next steps on Ukraine. But the U.S. and NATO have called those proposals "non-starters," and Friday's meeting offered no breakthroughs, so it's unclear how written answers might change the equation.