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Illustration: Aïda Amer/Axios

Many well-known consumer service startups have begun supplementing their core businesses with secondary revenue streams.

Why it matters: After lukewarm investor reception to IPOs by Uber and Lyft, there’s increased pressure to find paths to profitability.

On-demand delivery companies, whose business model is most similar to ride-hail because of slim margins and human labor costs, have been drawing additional revenue in several different says.

  • Grocery delivery service Instacart gets paid to promote select packaged goods to consumers.
  • Meal delivery companies Postmates and DoorDash offer a range of services to restaurants, from order management software to a white-label delivery fulfillment service to merchants like Apple and Chipotle.

WeWork, best known for its flexible office rentals, sells office design and management services to companies that want to import the WeWork brand and experience without physically uprooting.

  • The company also is experimenting with such things as an elementary school and apartment building with flexible leases.

Airbnb is going with a more direct adjacency: Hotel bookings.

SoFi, which for years was best known for refinancing student loans, has recently launched new businesses like deposits and robo-advising.

The bottom line: Few of these initiatives will rival the core business, but might give future investors more comfort that growth needn't come at the indefinite expense of profit.

Go deeper

Felix Salmon, author of Capital
6 mins ago - Economy & Business

The biggest obstacle to a wealth tax

Illustration: Aïda Amer/Axios

Taxing the rich is an idea that's back. An "ultra-millionaire tax" introduced by Elizabeth Warren and other left-wing Democrats this week would raise more than $3 trillion over 10 years, they say, while making the tax system as a whole more fair.

Why it matters: New taxes would be a necessary part of any Democratic plan to redistribute wealth and reduce inequality. But President Biden has more urgent priorities — and Warren's wealth tax in particular faces constitutional obstacles that make it a hard sell.

House passes sweeping election and anti-corruption bill

Photo: Win McNamee via Getty Images

The House voted 220-210Wednesday to pass Democrats' expansive election and anti-corruption bill.

Why it matters: Expanding voting access has been a top priority for Democrats for years, but the House passage of the For the People Act (H.R. 1) comes as states across the country consider legislation to rollback voting access in the aftermath of former President Trump's loss.

Updated 7 hours ago - Politics & Policy

House passes George Floyd Justice in Policing Act

Photo: Stephen Maturen via Getty Images

The House voted 220 to 212 on Wednesday evening to pass a policing bill named for George Floyd, the Black man whose death in Minneapolis last year led to nationwide protests against police brutality and racial injustice.

Why it matters: The legislation overhauls qualified immunity for police officers, bans chokeholds at the federal level, prohibits no-knock warrants in federal drug cases and outlaws racial profiling.