The “everyone but me” correction

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Another month of startup data = another month of mixed signals as to the ecosystem’s health.

For the last month or so the rhetoric around startup valuations, mega rounds, Fidelity mark downs, and the lack of anything dramatic happening in one way or another at the time of Square’s IPO has lead to one of two narratives:

  • A correction is coming
  • A correction is already here… haven’t you seen the IPO market?

A third one is starting to emerge: We’re just living in a world of extreme haves and have nots..

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Instacart demands correction to Pando report on new worker policy. Hours later, announces that exact policy

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On Tuesday, I wrote about Instacart transitioning some of its contractors in certain markets to part-time employee status. I also interviewed some of the workers who stood to be impacted by such a change — including one who complained about the company’s poor communication.

“It’s funny how little they tell us, they just roll shit out,” he said. “It’s a black box. For example, if my hours get cut in half one week, and I email “Shopper Happiness,” they won’t explain why. They’ll say something like ‘we’re just scheduling more effectively,’ so I won’t know if there is something I need to change or improve. I understand move fast and break shit, but this isn’t just affecting user experience, it’s people’s livelihoods.”

Shortly after my piece was published, Instacart’s PR company wrote to complain that my piece was misleading. Specifically, they claimed I had suggested that the company was planning to reclassify San Francisco’s in-store shoppers, without giving them fair warning. They requested a correction.

I wrote back explaining that Pando readers are intelligent enough to realize I made no such claims. Accordingly, I wouldn’t be publishing a “correction.”

And then, a few hours after the piece was published, something odd happened…

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