In response somewhat to AVC post :: https://seedvc.blog/2018/11/18/pivot-or-fail-avc/
Also some solid points. Again – there is no black and white call or rule to extrapolate here.
radical candour from a deep generalist
In response somewhat to AVC post :: https://seedvc.blog/2018/11/18/pivot-or-fail-avc/
Also some solid points. Again – there is no black and white call or rule to extrapolate here.
Quite the reversal from the Oracle or Omaha:
The dominance of tech stocks has forced some of the best investing minds—including Warren Buffett himself—to reexamine their thinking.
— Read on fortune.com/longform/value-investing-warren-buffett-tech-stocks/
Actual report here
Haven’t dug into it yet – I assume it’s an update to their original report.
Six figures that show why you need to pay attention to Southeast Asia’s dynamic internet economy.
— Read on www.blog.google/around-the-globe/google-asia/economysea-2018/
The end of the beginning — Benedict Evans
This looks to be one to watch. Not always agree with him but love the data.
Nice quote:
Finally, as we think about the next decade or two, we have some new fundamental building blocks. The internet began as an open, ‘permissionless’, decentralized network, but then we got (and indeed needed) new centralised networks on top, and so we’ve spent a lot of the past decade talking about search and social. Machine learning and crypto give new and often decentralized, permissionless fundamental layers for looking at meaning, intent and preference, and for attaching value to those.
Well that’s pretty damning evidence.
If true then it’s easy to see why Walmart had to deal with it.
Flippin’ over backwards | Founding Fuel:
In July this year, the complainant sent a letter directly to Doug McMillion, the global CEO of Walmart’s HQ in Bentonville, Arkansas, making allegations of sexual assault against Binny. That prompted Walmart to ask Gibson Dunn, a global law firm to do a thorough and detailed investigation. The investigation found that the allegations of sexual assault against Binny were unsubstantiated and that the relationship was consensual. But it found a serious lapse: An investigator from the security firm employed by Binny had called the woman for a meeting and had tried to physically assault her, but she escaped. When the lady informed him about the assault incident on email, in order to deal with a potential criminal case, instead of responding to her, Binny employed yet another security firm to put a lid on the matter. The second security firm tried to hammer out a monetary compensation. But it seems the lady demanded a much higher compensation.
Interesting. Love all the competition.
Behind this year’s Singles Day sales in SEA, is the somehow unnoticed rise of Shopee – KrASIA
— Read on kr-asia.com/behind-this-years-singles-day-sales-in-sea-is-the-somehow-unnoticed-rise-of-shopee
Excited to check this mall out next time I am in Bangkok.
Good quotes here from Pomelo.
Fair point on logistics and the first purchase being in store.
Build it and they will come: Thai developers pour billions into retail | Reuters:
Even e-commerce in Thailand is turning to malls. JD.com-backed (JD.O) fashion retailer Pomelo saw an untapped customer segment after experimenting with pop-up stores, said CEO David Jou.
“We found that some customers didn’t feel comfortable making their first purchase online, but liked our products.”
The Bangkok-based startup, which has its fifth store in Iconsiam, where e-commerce is growing, says physical stores familiarize customers with products before they place digital orders.
Shops create brand recognition and double as a pick-up point for online orders, simplifying logistics, he said.
Nice time to be investing in SEA
Boom!
Investing in Southeast Asia: What’s Behind the Boom – Bain & Company:
At a Glance
Bain research shows that Southeast Asia’s investment ecosystem is entering a new phase of growth. We expect that by 2024, the region will give rise to at least 10 new companies with a market value of more than $1 billion each.
More than 1,300 companies in Southeast Asia received a first round of seed financing since 2011, including 261 in 2017—five times the level of 2011.
Total deal value over the next five years is likely to reach $70 billion, double the level of the previous five years.
I am no expert here and have never even been to the country but it really has taken a turn for the worse.
I guess I just expected more from Suu Kyi but maybe she can’t really do anything about it.
However this article points out some pretty glaring issues with her leadership.
Where Aung San Suu Kyi and Myanmar Went Wrong:
IRON LADY
Suu Kyi has been unable to alter this basic dynamic. Following the 2015 elections, she failed to persuade the military brass to amend the constitution by removing its prohibition against anyone who has family members who hold foreign passports from serving as president. This clause directly targets Suu Kyi, whose late husband, Michael Aris, was British and whose two children are British citizens. In March 2016, the NLD-controlled legislature elected a confidant of Suu Kyi’s, Htin Kyaw, as president; he has served a mostly ceremonial role. Suu Kyi created and took the position of “state counselor,” giving herself a role akin to that of a prime minister—a fully defensible workaround to the military’s move to block her from becoming president.
Less justifiable are the autocratic inclinations Suu Kyi has demonstrated since taking office and the extraordinary degree to which she has centralized power in her own hands. In addition to serving as state counselor, she also heads the Ministry of Foreign Affairs and retains the presidency of the NLD. As party chief, she has personally chosen every member of the party’s Central Executive Committee—a violation of party rules. She is a micromanager who finds it difficult to delegate; most consequential decisions require her approval, which has led to bottlenecks. She sits on at least 16 governmental committees, all of which seldom produce concrete decisions. In November 2017, the government established a new ministry, dubbed the Office of the Union Government, just to help Suu Kyi cope with her workload.
Suu Kyi has also decided to act as her own spokesperson, but she has done a poor job of communicating her administration’s policies. She prefers limited transparency: according to several NLD members of parliament with whom I have spoken, she has instructed them to not ask tough questions during parliamentary sessions and to avoid speaking to journalists. Her preference for personal loyalty over competence was illustrated by her appointment of several cabinet members with scant qualifications.
Suu Kyi is in her early 70s yet has no apparent successor, and her party is dominated by other septuagenarians who enjoy her trust but lack the energy, imagination, and skills necessary to carry out the comprehensive renewal the country needs. Although Suu Kyi has been exceedingly critical of the constitution, she has used its antidemocratic provisions when they have suited her purposes. For instance, she appointed two NLD members as chief ministers in Rakhine and Shan States, both of which are home to large minority ethnic communities—even though in both places, a candidate from a local party that represents those groups had won the popular vote.
The complex political situation in which Suu Kyi operates requires a leader with a firm hand and a clear sense of purpose. She remains very popular among ordinary Burmese, who admire her tenacity, respect her authority, and consider her the one indispensable leader. Her autocratic style and silence on the Rohingya crisis might be less troubling if her government had made significant progress on economic reform or on reconciliation with other ethnic minority groups. But it has not.