($) Bed Bath & Beyond Followed a Winning Playbook—and Lost. The urge to change strategy and sell private labels quickly while ignoring the required changes to the existing infrastructure hurt Bed Bath & Beyond. They didn’t have time to design, build and market their private label brands properly. And there is Covid, which makes the situation worse for the big box retailer. Its website is antiquated and doesn’t offer pick-up option for customers. The latest reminder that a strategy may be sound, but execution matters
($) Jack Ma Plans to Cede Control of Ant Group. It’s interesting to read how Jack Ma structures the ownership of his voting rights and shares at Ant Group. Essentially, two companies control a hair higher than 50% of Ant Group shares. Jack Ma controls the voting rights of such two companies while sharing the share pool equally with two executives from Ant Group. Jack already planned to step away completely from the company he founded for years, but delayed the decision so that the IPO could go smoothly. His debacle with the Chinese government took care of that. It’s, again, amazing what little an unfathomably rich and powerful guy like Jack can do to the Chinese government.
How Big Tech Runs Tech Projects and the Curious Absence of Scrum. A very interesting post on scrum and by extension, project as well as resource management. One common mistake that I often see, especially from people without experience with scrum before, is that scrum and agile is this magic bullet to increase productivity and efficiency. Like any tool, yes, it theoretically can, but it has to be used in the right way. As you can see in the post, it’s not for every company. Even at the right companies that need it, scrum and agile need to be implemented properly. I am personally going through the painful experience of seeing it implemented improperly at my company. Sure, it doesn’t cost companies any additional resources. What it does cost is employee morale and trust in the leadership
Why I researched and adopted the Mediterranean diet started with a silly story.
A few weeks ago, I felt a little bit on pain on my left chest and noticed that my heart rate was a bit higher than it usually was. For good measure, there was a little bit of pain in the area right above my left elbow. I Googled the symptom and the results said that it could be a pinched never or it could be a harbinger of a heart attack. Paranoid and scared, I scheduled a visit to a doctor at a nearby hospital, despite knowing that I would have to pay out of my pocket. I don’t want to have a heart attack and how silly it would be to die from saving a couple of hundred bucks!
I explained to the kind doctor how I felt. He did a few checks, pressed on the painful area on my chest and asked a few questions on what my routine was. After some 20 minutes, he told me that I simply had inflammation on the area, that I got a pinched nerve on my left elbow, that my high heart rates might just be because I was under work stress and he didn’t think I was at risk of a heart attack. The inflammation could be due to exercise or just because my 13lb cat had a habit of walking on my chest every morning to wake me up. He prescribed me some pills to deal with the inflammation and sent me on my way. My little scare went away a few days later, but my relief was soon replaced by the $140 bill that the hospital sent. I spent all that money just to know that my cat might have given me chest inflammation!
But then it hit me that deep down I am really concerned about the health of my heart and the risk of a heart attack. I needed to do something to make sure I gave myself the best chance at living with my newly wed wife as long as possible. In addition to regular exercise, food is an equally , if not more, important factor. So I went down a rabbit hole and it led me to Mediterranean diet.
What is Mediterranean diet? It describes the way that people in the Mediterranean region have consumed food for centuries and still to this day. Their way of life features a high emphasis on vegetables, fruits, whole grains, olive oil, legumes and white protein meat such as fish or other seafood. The Mediterranean diet discourages the consumption of red meat, processed meet, butter, eggs and sweets. (Figure 1)
Numerous studies have linked Mediterranean diet with lower cholesterol and lower risks of heart disease. According to Harvard, a study involving 26,000 women over 12 years associated the Med diet with a decrease of 25% in risk of cardiovascular disease. Plus, elderly women who followed this diet were 46% more likely to age healthily with no chronic disease. More studies on this subject could be found at National Library of Medicine.
While the evidence seems abundant, I would be intellectually dishonest if I didn’t say that not all study was properly conducted. Healthline reported one study of more than 7,400 individuals that lasted more than 4 years showed that Mediterranean diet lowered the risk of a stroke and heart attack by at least 28%. This study; however, was found to be flawed in its design and conclusion.
Nonetheless, I don’t think that all the studies on this subject are flawed. And I do believe that a plant-based diet with an emphasis on vegetables and fruits like the Med diet is healthy for us. The trick is to actually put some figures on the effect.
One concern regarding the Med diet is how we can substitute the benefits of red meat. Red meat offers a high amount of protein, iron and B12, the latter of which is crucial in generating red blood cells. The problem is that various studies show a clear link between a high intake of red meat (more than 3 servings per week according to The chair of Harvard’s Department of Nutrition) and a higher risk for cardiovascular disease, diabetes and cancer. The association between heart disease and processed meat is even stronger as processed meat can come with additives and chemicals. While we do need protein and B12, we certainly do not need the additional health risks. For the maximum health benefits, we just need to find plant-based food that is rich in B12 and protein. Fortunately, there is no shortage of that.
The American Red Cross says that the likes of of kale, broccoli, peas, spinach, sweet potatoes, dates and watermelon are rich in iron. The National Institutes of Health lists clams, tuna, salmon, fortified cereals, milk and yogurt as good sources of B12. Additionally, you get fulfill the daily intake of protein with protein, beans, yogurt, walnut, pistachio or hemp seed. Nowadays, food comes in much more diverse forms; which helps us design an interesting meal plan. For instance, this Edamame spaghetti from Aldi contains 24g of protein per serving. Instead of eating cooked beans, you can spice up the meals with this spaghetti
In short, I have been on Mediterranean diet for 3 weeks and I feel good physically while losing a couple of pounds already. I can still run 5kms or finish 30 minutes of HIIT without disruption. Anecdotally, I notice that since I cut back on red meat, I have saved some money on grocery every week (likely due to the increase in red meat’s prices). In the midst of historic inflation, that’s an additional benefit that I didn’t expect.
Nonetheless, my goal is to share my story and what I found while researching on this topic. I understand that food and diet are highly personal. What works for me may not work for you. If what I wrote can pique your interest enough that you do your own research or talk to your doctor, I will be already happy.
($) Spotify’s Billion-Dollar Bet on Podcasting Has Yet to Pay Off. “Over the next four years, Ostroff spent more than $1 billion on the business, licensing shows, buying production studios, and signing exclusive deals with celebrities, including the Obamas, Kim Kardashian, and Prince Harry and Meghan Markle. Last year, Ostroff’s research and data team asked a question that many at Spotify already knew the answer to: Had any of this spending yielded a major new hit? The team produced a report that basically said no, according to five current and former employees who didn’t want to be named discussing internal business.” A very interesting story on the development of podcasts at Spotify. They used to like Netflix making a lot of shows and movies without anything concrete in return. The new internal structure is now in place to help Spotify better at making shows. I think they may be better off by following the model of HBO and Apple. But as a company that is never actually profitable, Spotify doesn’t have the luxury that Apple or Warner Bros has.
($) The Surprising Reason Your Amazon Searches Are Returning More Confusing Results than Ever. “The problems Amazon took on once it opened up its marketplace to sellers in China have become more evident in recent years. My Wall Street Journal colleagues in 2019 uncovered thousands of banned, unsafe or mislabeled products in Amazon’s catalog, most of which came from China-based sellers. It also became apparent that Amazon sellers were gaming Amazon’s algorithms to get goods listed as high in its search results as possible, and even going so far as to bribe Amazon employees in China to help boost items’ rank. The Amazon spokeswoman says the company spent more than $900 million last year to combat counterfeiting, fraud and other abuse—an effort she says involved 12,000 people. The company stopped more than 2.5 million fraudulent attempts to create new seller accounts, she added, down from over six million the prior year.”
‘Wallets and eyeballs’: how eBay turned the internet into a marketplace. This article is actually an excerpt for an upcoming book calling for the de-privatization of the Internet. It basically calls for another version of the Internet where people would be less motivated to create their own content because capitalism and competition wouldn’t work. I haven’t read the book, so I don’t know how good it is, but it’s still cool to read up on the birth of one of the most important marketplaces we have ever had.
Lessons from an investing legend. Anyone interested in investing should have a read. Everything Peter says is similar to what I have read from some of the greatest investors
($) Inside Didi’s $60 Billion Crash That Changed China Tech Forever. It further solidifies my stance that as long as the current regime stands and it surely looks that way for years to come, I won’t buy Chinese stocks. Didi at its peak was worth $100 billion. Now it’s a shell of its former self because of actions from the government. Worse, the leaders at Didi, all Chinese and with resources to spare, didn’t understand why the government acted the way it did. Then, how could a foreign investor hundreds of miles away?
($) Draymond Green, Podcast Star, Turns an Unsparing Mic on Himself. I listened to Draymond’s podcast a few times and while it does carry a sense of disruption and fresh air, compared to the likes of First Take or Undisputed, I still want to hear more basketball analyses from Draymond. He is an intelligent player and a 4-time champion. He surely is capable of producing basketball breakdowns for casual fans like Kobe once did with Detail. I’d love to hear more about the preparation before games or during off-season. I’d love to hear about the mental struggle of players during injury rehabilitation. Dray has much to offer and I hope he will bring it instead of cat fights and trash talk against the incumbent media. On a side note, after the liquor industry, athletes are marching into the media space. With their fame, connections and insider knowledge, they are greatly positioned to make a splash in this industry.
Other stuff I find interesting
Nigerians are learning to buy now and pay later. “In a country where only 2% of the 106 million adult population have access to bank credit, credit cards are also conspicuously absent, as banks shy away from consumer lending. BNPL is becoming a rising alternative and is set for further growth, as Nigerians embrace digital credit. BNPL thrives in markets with integrated identity systems, consumer credit culture, and decent consumerism, where people are able to pay for not just essential items like food and fuel but are also willing to buy nonessential items like cars and gadgets. However, the Nigerian market struggles with efficient identity systems, over 100 million Nigerians, or a little less than half the population do not have any form of recognized ID. And following the economic slump over the last eight years, many households are barely clinging to whatever funds they have after spending on rent, food, and other necessities. A June 2021 report showed 61% of the country’s adult population suffered “severe financial distress” over the previous 12 months, forcing many to cut down on expenses.”
($) Norway Was a Pandemic Success. Then It Spent Two Years Studying Its Failures. “Norway’s government had the foresight during the first days of Covid-19 to appoint a panel called the Koronakommisjonen. Its mission was figuring out what the Norwegians did, what they could have done and what they should do. This crisis was barely under way when they began preparing for the next one. The next lesson from the Koronakommisjonen reports is the power of not pretending to know more than you do. Nobody really knew anything early in the pandemic. Anybody claiming otherwise should have known better.”