Fortune Staff

This year’s Fortune 500 marks the 68th running of the list.

Fortune 500

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legacy

DoorDash

doordash

Jacob Carpenter

The gig economy endured a tumultuous two years. It’s emerging from the pandemic better than ever

/2022/08/05/uber-airbnb-doordash-lyft-gig-economy-earnings-q2/

Christiaan Hetzner

Amazon Prime members now get free Grubhub deliveries after retail giant strikes deal with Just Eat for the struggling service

/2022/07/06/amazons-grubhub-takeaway-deal-doordash-uber-deal-food-delivery-market/

Apple CEO Tim Cook may deserve huge stock awards—but not every executive does

/2022/05/06/ceo-pay-compensation-tech-stock-awards-tim-cook-apple/

Charlie Wells

Bloomberg

DoorDash considered takeover of Deliveroo, Sunday Times says

/2022/03/06/doordash-considered-takeover-of-deliveroo-sunday-times-says/

The metaverse means different things to different people, but to the CEO of Niantic, this fully-immersive future is “technology gone wrong.”

Niantic CEO John Hanke on his take of the ‘metaverse’

 Stuart Isett for FORTUNE BRAINSTORM TECH

Conferences

Niantic CEO John Hanke on his take of the ‘metaverse’


your vision of the metaverse is very different. This helps inform what you were talking about in a recent blog post where you called it a dystopian nightmare as it is being more widely Formulated right by maybe some of the tech giants you wrote, a lot of people are talking about the metaverse these days coming off 18 months of Zoom Netflix and Doordash. You can count me out at least in the form that most folks are imagining. And so what is your vision of the metaverse in that case and where does it differ? Well, you know, I mean, I'm a fan of the metaverse as a work of fiction, like I'm a huge neal Stephenson fan and William Gibson fan already play our one fan, but if you read all the way to the end, I'm not sure everybody, you know who's been talking about it has read to the end, but um you know, the world in those books is like this horrible place, you know, where everything has gone wrong, nobody can go outside anymore. It's polluted, there's crime everywhere. Well, it's kind of like the way things are um the point being like that's I think that's not the future that we want, where like the world is so horrible that the only our only respite are only relief is to Jack into this digital thing and just block it all out, I think that would be really horrible. Actually, don't think that's where tech is headed. I don't think that's what's going to happen. But as people are getting really excited about that vision, I just felt compelled to raise my hand and sort of say like, hey let's pause a moment here and ask the question like is that the future we want to build or is there may be a different future where we use this technology that we've invested hundreds of billions of dollars and maybe more over the past few decades and apply it to try to like reconnect us as a society and you know, just make the world a better place, a place that we would. You know, hopefully you feel good about passing on to our kids and you know, I think that technology has the potential and promise for that. And you know in many ways we have an obligation to use technology and our position in our companies to try to try to do that. Do you see a future? Right. Your focus is A. R. But do you see a future in which VR do you ever see a future where you maybe dive into VR or do you think VR as a technology as an entirety is immoral or problematic? Yes. Well I often will point to this guy, Mark Weiser who was a computer scientist at xerox parc. Uh he's passed on but he did it a lot of similar work around this notion of like he called it ubiquitous computing. The basic theory is that over time computers become smaller, less intrusive and they just sort of fade away. They become invisible to us, but they're always there to help us give us information that we need guidance to the world, help us do things that we couldn't otherwise do give us superpowers, but they don't get in the way of us being human beings and like talking to other people face to face and interacting with the world. Um and he compared that vision of ubiquitous computing even in 1991 to VR and he said, you know, VR literally cut you off from the world, like you're jacked in, the glasses are on, you're not seeing anything except what's being projected into your eyes, are not aware of what's around you. And um you know, he said the future is the former, you know, it's this world where computing is there to help us and it's kind of invisible, it's this great assistant to humanity. So um I think that that is going to be the main way that we use tech now. They are, I mean you all probably have amazing home theater system set up at home, you probably have surround sound, great speakers and giant LED screens. Like there's a place for like immersive entertainment, you know, I like watching, you know, a great movie on a giant screen, I want to see Dune on the biggest screen possible. Um but it's it's I think VR is kind of good for that. You know, it's good for like when you those times of the day when maybe you really want to get away even for that though, Like what I want to watch a movie or have a VR experience with my wife at home, with us, sitting side by side on a couch with a VR headset on, vs watching a screen and having checked out with her and just kind of feeling her presence and being there together. Like I, you know, I'm not sure, I think VR is kind of a niche application.

A conversation with Alok Gupta of DoorDash and Freedom Dumlao of Zipcar.

How DoorDash and Zipcar pivoted during the pandemic with the help of A.I. 

Tech

DoorDash and Zipcar pivoted during the pandemic with A.I. 

So how has door dash pivoted during the pandemic? And I guess the role that a I played um as you thought about all of this, one of the things we saw when the pandemic started was an increased demand by people home for food delivery etcetera. And at the same time it was coupled with have fewer people commuting less traffic on the road. So what that meant was we had a surge in demand and all of our food um prediction times for how long it would take to deliver an item. Got a little confused because it's far quicker to travel the road. So we have to readjust all of our models to instead of training on say the last three months of data, shrink it to the last two days or two weeks of data. And so it's a scramble to go through all of our models. What do we need to update? Um That was one thing, the second thing was there was a a really big demand from users to access grocery and convenience items from home more than than there had been. So we had to accelerate some of our ai there in problem areas. We haven't really done much before in the past like predicting inventory, recommending substitution sort of problems that you don't see in the food delivery, but you see in the grocery delivery space freedom. How about you? How how I guess how did the demand change during the pandemic? And then as we came out of the pandemic and power you able to leverage ai for that. Yeah it was it was a pretty dramatic shift, you know, similarly to what you were speaking to look all of a sudden the traffic disappeared. Some of that was people just simply were staying home. So at the very beginning of the pandemic, nobody was driving, nobody was doing anything. Um, and then all of a sudden everyone was driving again, at least everyone was getting into zip cars again for us. Uh That came as a shock because it was sort of all at once. There wasn't anything that really helps us to predict that that was about to happen. And then once we saw it happening, we noticed right away that the the types of drives and the driving behavior that our members had were completely different right before the pandemic, people would wake up in the morning, maybe they would take a Zipcar to the office or to do their daily chores. Um, but people had all decided to, you know, people were all forced to work from home, uh which meant that they were spending more time where they maybe had an opportunity in the middle of the day to do something different. Uh, So the models for how people were using cars dramatically changed during the pandemic. And even now, even as we've seen some offices reopening, we're still seeing lots of people who are still staying at home. And so that the way that they use our our cars has changed. Uh, fortunately before the pandemic, we've made some pretty big investments in some systems that helped us to predict what we would need in terms of positioning vehicles to make sure that every member had access to a vehicle when they needed it. Uh so we were able to tune that system once we started seeing how people were driving again and get those predictions to be back on target so that members can get access to vehicles when they needed them again. So this is very interesting because a lot of machine learning models are very data hungry. But if you can't use historical data, how do you gather, I guess. How do you get enough data to train these machine learning models accurately? I think the first one doesn't you accept at the beginning there's gonna be some noise and um, elevated levels of inaccuracy and you sort of use that cost of that budget to explore the data space maybe more actively than you would otherwise to then build up your training set, then you can then take advantage of and train the model. But yeah, there's no shortcut in the beginning of a lot of trial and more more error than usual for us, we were able fortunately to to leverage some comparable models. So for example holidays and vacation weeks and things like that helped us to bridge quite a bit. But you know, we did have to sort of drop that time period of like the bizarre, nobody's leaving their house anymore time period. All of that was basically useless for us as we restarted. So we had to sort of skip that period in time. Hello, can you share some of the more creative uses of ai that you've seen within door dash? Yeah. So one thing we see with a lot of our restaurants are merchants on the platform. They're opening and closing hours can be quite dynamic and if we send an order when they're not open, it's a poor experience for everybody. So um one of the functionalities, our dashes have the dashes are the folks that door dash that pick up the item from the restaurant, deliver it to the customer is when they go to a restaurant and they see it closed. They take a photo to verify that it's closed and to help us process and just our timing. We used that bank of photos and we saw that was actually pretty good information. They're using computer vision, we could actually read the updated opening and closing times and use that to dynamically update the restaurants. How is it um And other use cases based on some of our best performing dashes, we're able to improve our hyper local understanding of restaurants and residents to try and surmise what are the best routes or places to park and then routes to walk to get inside the restaurant inside an apartment building and it may seem trivial, but shaving 10 seconds here, five seconds there really adds up to improve the experience with the dash to the customer, the merchant, everyone, and so we're going that sort of into that level of detail.

Food delivery app DoorDash is going public

How DoorDashs CEO Wants to See His Company Expand

Leadership

Tony Xu joined Fortune at Brainstorm Tech.

we started Gord Ash because we wanted to help local businesses actually grew up working as a dishwasher for my mom's restaurant in Illinois for all of my childhood, and I didn't exactly think that was gonna make its way back so quickly back into my life. But when I was in grad school thinking about what to do next, I was talking to a group of small businesses, some of which restaurants. Others were retailers. And they would tell me about deliveries they would refuse, which is pretty un American, to turn down all these credit cards, I thought. But to figure out why this is happening. Over and again, I became a delivery driver for about a month. Driving for service is like FedEx, as well a Domino's Pizza and figure out why delivery does not exist in America. And after figuring that out, that's when my co founders and I decided to start Gord Ash today we're in about We're serving over 1000 cities, but we still have five or 600 cities that we want to get just this year and and by the end of next year, we'd love to be able to deliver toe every door, not shift every door, but actually be the only service may be outside of the Postal Service. It'll actually be able to reach every single household. Second, we want to be able to continue building on the merchant service Is that have allowed door dash, you know, to reach partnerships with 90% of the top 100 restaurants. That's more than all of our peers combined. And it's one of the reasons why we've been the fastest growing service in the space for the last 12 consecutive month. Onda. Finally, as you mentioned, certainly, if you can deliver ice cream in 10 minutes or burrito in 20 minutes, you can deliver other types of products in more time. And so in April, for instance, we announced a partnership with Wal Mart, where we're fulfilling their grocery deliveries, and you can imagine that there might be other extensions you have. How many employees? 700 employees? The door. Okay, so it's been an incredible couple of years for you. Tell me a little bit about taking their about the hard choices that you've made over the years to scale, because that's an enormous amount of scale in a very short time. It certainly is, and we've been fortunate along the way. But I think it goes back to, you know, one of these early notions that we've been chatting about on stage, which is to run your own race and not focus on the media frenzy or the competitive dynamics. But to really stay your course and to prove out things that makes the most sense for the business. For example, you know, one of things out for brought up was, you know, is it just a service for certain types of neighborhoods? And in fact, before even fundraising, one of the early decisions we made was actually not the launch in San Francisco, which was a bit contrary to what a lot of the companies at the time were doing. We actually decided to launch an E San Jose. We made that decision based on her own independent thinking, to figure out who could this actually be a mainstream service, you know, and we answered many questions like that before we actually decided to scale, becomes so focusing on what matters into the business and then, you know, believe me in the convictions against the noise and against what other people are doing has been one of the best things that has allowed us to do what we've done.

DoorDash

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