DoorDash CEO Tony Xu is taking on the role of industry consolidator in food delivery

In this article DASH Follow your favorite stocks CREATE FREE ACCOUNT Tony Xu, co-founder and CEO of DoorDash Inc., smiles during the Wall Street Journal Tech Live conference in Laguna Beach, California, on Oct. 22, 2019. Martina Albertazzi | Bloomberg | Getty Images During the depths of the Covid pandemic, with restaurants around the country facing an existential crisis, DoorDash CEO Tony Xu had an unconventional proposal. He wanted to cut commissions. Chief Business Officer Keith Yandell worried that such a move would result in a massive hit to profits ahead of the company's planned IPO. But Xu made a persuasive case. "If restaurants don't thrive, we cannot," Yandell told CNBC in a recent interview, recalling Xu's perspective at the time. "We need to take a leadership position." The company ended up sacrificing over $100 million in fees, Xu later said. Since starting DoorDash on the campus of Stanford University in 2013, the now 40-year-old CEO has navigated the notoriously cutthroa ... Read full article.