The Vergecast Yelp CEO Jeremy Stoppelman welcomes you to Team Antitrust
Aug 25, 2020
Jeremy Stoppelman, Co-founder and CEO of Yelp, discusses the urgent need for antitrust regulation against tech giants like Google. He reflects on Yelp's pandemic challenges and its strategic pivots to support local businesses. Stoppelman highlights concerns over Google's market dominance and its impact on competition, emphasizing the importance of a fair digital marketplace. The conversation also explores the implications of potential Section 230 repeal on online content moderation and the persistent struggle for authentic user expression in reviews.
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Yelp's Pandemic Rollercoaster
- Yelp experienced a significant downturn at the start of the pandemic, forcing layoffs and furloughs.
- However, they provided $30 million in relief to local businesses, primarily restaurants and nightlife.
Impact on Local Businesses
- Interest in various local business categories like restaurants, nightlife, and gyms drastically declined at the onset of the pandemic.
- While recovery has been observed, it remains incomplete.
Yelp's Revenue Model
- Yelp's revenue primarily comes from advertising, similar to Google's model.
- They also offer profile upgrades and other features for businesses to enhance their visibility.