Business
Analysis: Fintech lenders tighten lending standards, bolstering debt financing. Fintech startups that can make it through the next few years will be here to stay, in my opinion. They will have survived the low rate environment in which growth is paramount and the high-rate world in which profitability ranks supreme. At the moment, these lenders have to tighten up underwriting criteria to limit risk and raise funds, something that most of them did not do before Covid. Hence, the chance to develop such important business muscles will serve survivors well and long in the future
Why Businesses Can’t Stop Asking for Tips. The answer is pretty straightforward: businesses want to pass wages onto consumers without consent. I get that tipping is part of the American culture, but consumer generosity is being abused. What part of taking my order of a black coffee and handing it to me deserves a tip? What part of giving me my order of a few croissants amounts to a job so well-done that I need to tip? If I get a haircut, I already pay for the service. Why would I need to tip again? What frustrates me the most is that I have never given consent to subsidize wages with my money. In America, we value individual freedom. Then, why are we tolerating this non-sense?
Inside Lyft CEO David Risher’s Efforts to Bolster the Company. Trimming organizational fat, subsidizing rides and the CEO getting more hands-on by being a driver himself all made sense, but I fear that’s a little too late for Lyft. The challenge for the company is that its nemesis Uber has a formidable flywheel. Uber’s Delivery and Mobility generate more business for drivers. The more drivers, the better the customer experience (shorter wait time, more options). The better the experience, the more likely users will stick around. Can Lyft break that cycle? Possible, but highly challenging. With that being said, Uber should NOT, under any circumstances, get complacent. The company must make sure it continues to innovate and execute. This game is as easily lost as it is won.
A Soap Maker Cracks the Code to ‘Made in America’. A really interesting read on how manufacturing is coming back to America. There are two reasons: 1/ to shorten the distance between production and consumers; 2/ to mitigate supply chain risks. However, it’s not easy to bring production back to the US from overseas and it’s not for everyone. It requires careful planning and execution to put together a manufacturing process. Plus, this calculus doesn’t make sense for every industry or every business. Just because some managed to flip the switch doesn’t mean everyone will. Nonetheless, I find it interesting to see more manufacturing in the US.
Google, Microsoft, and Meta can’t stop talking about A.I. — here’s why Apple rarely mentions it. Ordinary folks don’t care about AI and what is done in the backend to make products better or operations more efficient. All they care about is what companies can do for them. Apple is the perfect example of a customer-led company. They don’t mention AI because they keep their feet on the ground and frankly they never need repeated mention of AI to sell products and services.
How Roku is shifting its advertising strategy to cater to digitally-native brands. “Roku continues to roll out new ad products catered to ad buyers trying to figure out as precisely as possible whether or not someone bought a product after viewing an ad on Roku. “I would say their strategy seems to have shifted and they [Roku] are much more interested in collaborating with agencies and with performance brands to try to figure out how to make the media work,” said Devin McGaughey, chief solutions officer for a unit of Tinuiti called Streaming+“
Other stuff I find interesting
Japan’s digital ID program is a complicated mess. I am shocked that a modern society that gives us so many technological advances, including super high-speed trains, can’t have a digital ID program. I am even more shocked when I read “Human errors in inputting data”.
New visa programs spark brain drain fears across Africa. Everyone is indebted to themselves and their family to do whatever it takes to create a best life for them. I can’t fault anyone from Africa for seeking a better life. But this trend is concerning for Africa and the US. The US’ immigration system is nothing but a disgrace to skilled workers. Losing African talent can’t be a positive for Uncle Sam.
Endless pivots and mass departures: Inside VinFast’s chaotic U.S. expansion. “Some former employees spoke about rules that seemed arbitrary, and were not raised until they joined the company. “It was a number of things. One of them was that the employees were expected to wear a certain color of shirt and tie to the office, and if you didn’t follow that, it could get you in trouble,” Akshay said. (This rule was later softened; these days, employees can even wear jeans.) The scrutiny also extended to how employees moved within the buildings. “In the main office building where I worked, if you had to go two or three floors up or down, you were not allowed to use the lift,” said James. “If they caught you doing that, your salary would be deducted.”
Aston Martin Wants to Win and to Sell Cars, Too. Non-F1 or casual fans don’t know that once a team enters a winning cycle, it stays there for a few years. The sport is so complex and sophisticated that once a team breaks out from the pack, the rest will struggle to catch up, until a change in regulations. Ferrari dominated in the first half of the 2000s. Red Bull dominated between 2010 and 2014. Mercedes won 8 in a row until 2022. Red Bull has been the dominant force for the last two years. When a team is at the top, there is no lack of visibility and marketability. The challenge for Aston Martin and Stroll is to get to the summit. It doesn’t look likely for the next 3 years, but even being among the competitive teams can also boost the car brand a lot
Inside Walmart’s Warehouse of the Future. File this under the “this sounds great but let’s evaluate it based on how much it impacts the bottom line” cabinet
Stats
One out of three credit card applications is likely to be rejected as of Jun 2023
Moe than 75% of available homes on the market are too expensive for middle-income buyers
Minh Quang Duong 
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