While I am not a Millennial, I have reaped the rewards of the Millennial Lifestyle Subsidy and am not complaining. However, I would suspect that there is a fair amount of price inelasticity (thanks Econ 101) in many of these services and as Millennials climb the "corporate ladder," earnings increase and they become less price sensitive. Uber and Lyft are still consistently 15%-20% cheaper than a cab and way more convenient. While customer acquisition costs are high, they have built a better mouse trap and now it's time to get paid for it - I'm ok with that, as long as the subsidy doesn't become a tax!
If you wake up on a Casper mattress, work out with a Peloton before breakfast, Uber to your desk at a WeWork, order DoorDash for lunch, take a Lyft home, and get dinner through Postmates, you’ve interacted with seven companies that will collectively lose nearly $14 billion this year. If you use Lime scooters to bop around the city, download Wag to walk your dog, and sign up for Blue Apron to make a meal, that’s three more brands that have never recorded a dime in earnings, or have seen their valuations fall by more than 50 percent.