Food delivery apps like Deliveroo, Just Eat Takeaway, Delivery Hero, and DoorDash have collectively incurred $20.3 billion in operating losses since going public. Shares of these companies are trading below pandemic-era peaks as investors scrutinize their business models. Didi Global, a Chinese ride-hailing giant, reported a net loss of CNY1.4 billion in the first quarter, with revenue increasing by 15% to CNY49.1 billion.