The Negative Hits of Active Writers

The company spent $750 million on stock based compensation in 2022. But active writers grew 10%. What we're seeing here is that management is focused on bringing down price. This should increase active writers and they reported actually having their first quarter of market share improvement in the last two years because they took down prices. That's a positive, but it's going to her contribution margin because you don't necessarily want to pay your drivers less.

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