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(Bloomberg) -- This time last year, hardly anyone in the US knew what Temu was. Now, as American consumers grapple with runaway inflation, the bargain shopping app backed by a Chinese tech company is on a tear, with sales exceeding rival Shein.Most Read from BloombergBiggest Losers of AI Boom Are Knowledge Workers, McKinsey SaysNYC’s Rent Surge Defied by New Grads Pursuing a TikTok LifestyleElizabeth Holmes Objects to $250-a-Month Victim Payments After PrisonTrump Urges Prosecutors to Drop Case,

This time last year, hardly anyone in the US knew what Temu was. Now, as American consumers grapple with runaway inflation, the bargain shopping app backed by a Chinese tech company is on a tear, with sales exceeding rival Shein.

On Monday, June 12, food delivery platform Grubhub stated that it plans to lay off 400 employees i.e. 15% of its corporate workforce.

Food delivery company Grubhub said it would lay off 15% of its corporate workforce, or 400 employees, citing a need to maintain competitiveness.

San Francisco’s fiercest startup rivalry is over.  If Lyft ceased being a meaningful competitor, regulators could review Uber's claims that drivers are “independent contractors”. Consumers could also turn against the company over pricing