News flash: Making money suddenly matters in tech. That is bad news for any company competing in a sector filled with rivals desperate to gain scale, such as food delivery, and could leave Grubhub investors with a bitter aftertaste. Venture capitalists have, in a matter of months, gone from trumpeting growth at all costs to evangelizing a new ethos that includes terms including “discipline,” “unit economics” and, perhaps most important, “profitability.” The dramatic change in tune has come in the midst of an icy reception...

Source: Wall Street Journal October 20, 2019 13:52 UTC