While both the retail and automotive sectors are both grappling with the chaos that’s ensured ever since President Donald Trump announced his tariffs plan on April 2, a few select businesses have been lucky enough to be “tariff-proof.”
One such retailer is TJX Companies, which along with its brands TJ Maxx, Marshall’s, and HomeGoods, has been rallying lately despite the trade war. That’s because the discount chains buy secondhand goods from other retailers, meaning they do not have to import their products from overseas.
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Another company that doesn’t need to worry is beverage giant Coca-Cola. Thanks to steps the company has taken to hedge against rising aluminum costs, Coca-Cola will not feel the sting the way hundreds of thousands of other businesses will.
Certain lucky business models are not affected by tariffs at all. One of those is Uber (UBER) , which relies on its users to supply their own vehicles in order to use the service.
Related: Uber shares new budget-friendly pricing model
When Uber reported its Q4 earnings on May 7, they looked terrific: its Q1 revenue soared a remarkable 14% year over year at $11.5 billion, with a revenue forecast to grow 12% over the next three years.
Uber CEO Dara Khosrowshahi’s recent interview with The Verge addressed the rideshare company’s future plans, including a new service that sounds a lot like a bus and which Khosrowshahi calls “complementary to public transit.”
But the CEO also shed some light on a key part of his success strategy with his company, and his advice is well worth checking out.
Uber CEOÂ Dara Khosrowshahi shares an important belief about how he runs his company.
Image source: Burkardt/SXSW Conference & Festivals via Getty Images
Uber CEO believes in ‘dogfooding your own products’
Early in the interview, The Verge editor-in-chief Nilay Patel asked Khosrowshahi an interesting question: whether he “dogfoods” his own products.
Dogfooding is a practice where businesses use their own products in real-world settings. When asked if he uses Uber services, including UberX and Uber Black, Khosrowshahi had some interesting insight to share.
“Actually, one of the really important moves I made was starting to deliver,” Khosrowshahi revealed. “Most Uber employees use Uber as consumers, but not as many use Uber as earners, as drivers, or as couriers. Early on when I joined, we were building more for the rider or the eater than the earner.”
Related: Uber takes aim at Tesla with its newest plan
Khosrowshahi went on to say that during Covid, he felt he was “going crazy at home.” The CEO’s solution? To get on his e-bike and start delivering food.
“Then, I got a Tesla and I started driving folks around,” Khosrowshahi said. “I really do think that it’s important to dogfood. You can’t do it every single day, because you have a day job. But for one, you learn about your product. Just as importantly, you’re setting an example for your employees.”
Khosrowshahi also added that Uber driving is “a lot harder than it looks.”Â
“When I first started driving, I was so nervous,” he said. “I didn’t want to screw up. I didn’t want to take the wrong route. It’s actually a lot more challenging than you think it is.”
