Weekly reading – 27th November 2021

What I wrote last week

A helpful post on the new Covid-19 variant, Omicron

Good reads on Business

Uber introduced the new membership plan called Uber One. Perks include unlimited $0 delivery fees for qualified orders ($30+ for groceries and $15+ for other stuff), 5% off on eligible rides & deliveries, $5 refund if a delivery arrives after the Latest Estimate Time and other perks. It’s the same as DoorDash’s Dash Pass or Instacart’s subscription. The difference is that Uber’s plan also includes rides.

Incentives – How will Visa Amazon Play Out? If you are interested in fintech or payments, subscribe to Tom’s newsletter. It’s good.

More than Joe Rogan: Inside Spotify’s audio revolution. “The same could be said for Spotify, which over the last three years has transitioned from a groundbreaking music streaming service to one that also now offers 3.2 million podcasts on its platform. The expansion has been nothing short of meteoric when you consider that Apple, which has been offering podcasts since 2005, has just over 2 million audio shows. Spotify’s gains were highlighted in its third-quarter earnings report in late October, when it revealed that 3.2 million figure, as well as the fact that advertising revenue from podcasts helped drive total ad revenue up 75% year over year. Stockholm-based Spotify is now on track to pass 1 billion euros (more than $1 billion) in ad revenue for the first time this year.”

Apple taps TSMC to build custom iPhone 5G modem in 2023. A competitive advantage is what you do so much more efficiently and better than your competitors. In the case of Apple, it’s the integration of hardware and software. Within hardware, it’s a combination of so many things, including chip, industrial design and supply chain. Reliant on Qualcomm for the modem chip in the iPhone, Apple decided to be more independent and bring deeper integration by designing its own chip and outsourcing the production to TSMC. Think about it this way. Apple became the most valuable firm in the world while relying on others for parts of their products. Now they gained the capability to own most of the production process. What a company.

Starbucks has opened a store with Amazon Go.At this store, customers that have ordered ahead of time via the Starbucks app can walk in, look to see if their order is ready via the large digital Order Status sign, pick up their drink and walk out. They can also use their Amazon app or credit card to scan into the store and pick up a Dominique Ansel pastry (or a number of other New York City-specific items Ess-a-Bagel), Amazon Kitchen sandwich or sushi roll from the marketplace and just walk out. Once they exit the store with the item, they’ll be charged via their Amazon account via the Amazon Just Walk Out Technology as seen in the Amazon Go stores.” The more Amazon tests this technology, the better it will become. A few years from now, they’ll be miles ahead of others in reimagining the retail experience

AmEx Pitched Business Customers a Tax Break That Doesn’t Add Up. Another shady exercise by a major financial institution.

An interesting write-up on Visa from Greenskeeper Asset Management

Other stuff I found interesting

The ER charged him $6,589.77 for 6 stitches, a cost that led his wife to avoid the ER. The healthcare system in the U.S is really broken and quite frankly just disgraceful.

Workers in Vietnam lived inside factories to keep Samsung’s products on shelves during the pandemic. Poorer countries should band together to pressure tech companies and their suppliers into increasing workers’ pay. Divided, they will be taken advantage of. The economic output is reflected on the paper, but the price that workers have to pay and the longer term sustainability is also damaged

The Humble Brilliance of Italy’s Moka Coffee Pot. “The various species of Coffea, the seeds of which are dried, roasted, and ground to make coffee, are native to east Africa, particularly Ethiopia. Coffee as a beverage first shows up in the historical record—which is not necessarily to say that it wasn’t consumed in its native Ethiopia first—in what is now Yemen. It spread quickly throughout the Middle East, North Africa, and firmly established itself as part of the culture in what are now Turkey and Iran. Italians began coming up with their own gadgets for brewing coffee in the 19th century, but the biggest by far was the idea of applying pressure to coffee in order to create a strong, and more importantly fast, drink. This is the age of steam, a miraculous source of power that can unlock the world, and though it’s not entirely clear who originated the idea of using steam to brew coffee, certainly it was in Italy that it was popularized. The first known patent for a machine we might now recognize as an espresso machine was registered by Angelo Moriondo, who created a giant complicated steam-driven machine in 1884, but who never bothered to manufacture it. Luigi Bezzera, from Milan, modified the Moriondo patent, and hisdesign was further modified (though less so than Bezzera’s) by Desidiero Pavoni, whose La Pavoni introduced the world to espresso in 1906, at a world’s fair held in Milan.”

Stats

JP Morgan estimates that a Prime Membership of $120/year brings more than $1,000 in value to subscribers

63% of U.S Gen Z used TikTok in the last two years

Weekly reading – 2nd October 2021

What I wrote last week

How our brains receive messages and some implications

Articles on Business

Bessemer Venture Partners struck gold with their investment in Toast, which went public recently. Their memo outlining the rationale such an investment is worth a read, especially for those who want to learn about Toast, those who want to learn Business and those who wish to go into Venture Capital.

Apple’s power move to kneecap Facebook advertising is working. A pretty biased article if you ask me. This is a complicated and nuanced issue, yet the author focuses more on the alleged impact that the privacy-centric features Apple introduced have on Facebook business. It does mention: “People are opting out of Facebook’s tracking for a reason: they no longer trust the company with their data after years of evidence they should not. But the context of Apple’s power move is important too.” What it fails to convey is that small businesses do have a problem when it relies on a single channel (Facebook, in this case) for survival. The article fails to articulate why it is Apple’s responsibility to take care of Facebook’s interest. Look, I totally agree that Apple does things out of its self-interest as all of us do. Most of the time, Apple masks its true intention with shiny marketing language as all companies do. But it’s strange to side with Facebook and its tactic to use small businesses as weapons in the war with Apple WITHOUT looking at the issue from the consumer perspective.

Google, Battling Amazon, Tries an E-Commerce Makeover to Win Back Advertisers.Amazon’s accelerating ad business has raised alarms inside Google, prompting Chief Executive Sundar Pichai to assure Alphabet’s board that rejuvenating its flagging e-commerce efforts is a priority, according to former Google executives. He must fix a mess of Google’s own making. The company has rebooted its digital shopping strategy at least four times over two decades and has had five leaders of its e-commerce operations in 10 years, the former executives said. “Google is almost like the living dead” in e-commerce, said Guru Hariharan, chief executive of CommerceIQ, an online-retail service provider. “No one goes there for shopping.”

How IBM lost the cloud. “Over and over again during the last decade, IBM engineers were asked to build special one-off projects for key clients at the expense of their road maps for building the types of cross-customer cloud services offered by the major clouds. Top executives at some of the largest companies in the country — the biggest banks, airlines and insurance companies — knew they could call IBM management and get what they wanted because the company was so eager to retain their business, the sources said. This practice, which delayed work on key infrastructure services for months or even years, was still happening inside IBM as recently as last year, according to one source.

Narrative Distillation. “Even today, the ability to get strong engineers to work on a problem engineers normally don’t want to work on remains a very strong formula for returns. You can increasingly see other top companies shifting to invest more in their company and founder brands. Product market fit is just narrative distillation for customers. It only makes sense that this same process is as crucial for investors and employees, too. And just as we have spent so many years reinforcing the primacy of founders focusing on product market fit—and the process of how companies converge on it—so too must founders take distilling their narratives for all audiences equally seriously.

BNPL Fund Flows
Neobank Landscape

Other stuff that I find interesting

History’s Seductive Beliefs. “Everything has a price, and the price is usually proportionate to the potential rewards. But the price is rarely on a price tag. You don’t pay it with cash. Most things worth pursuing charge their fee in the form of stress, doubt, uncertainty, dealing with quirky people, bureaucracy, other peoples’ conflicting incentives, hassle, nonsense, and general bullshit. That’s the overhead cost of getting ahead.

Ditching your commute: worth ~$40K/year in happiness

Our constitutional crisis is already here. “There was a time when political analysts wondered what would happen when Trump failed to “deliver” for his constituents. But the most important thing Trump delivers is himself. His egomania is part of his appeal. In his professed victimization by the media and the “elites,” his followers see their own victimization. That is why attacks on Trump by the elites only strengthen his bond with his followers. That is why millions of Trump supporters have even been willing to risk death as part of their show of solidarity: When Trump’s enemies cited his mishandling of the pandemic to discredit him, their answer was to reject the pandemic. One Trump supporter didn’t go to the hospital after developing covid-19 symptoms because he didn’t want to contribute to the liberal case against Trump “. A somber yet real read on the constitutional crisis that is unfolding right in front of our eyes.

This embroidery has a great talent in bringing aerial landscapes to life. Check it out!

Stats

Almost 25 million people played golf in the U.S in 2020

TikTok Claims the App Now Tops 1 Billion Monthly Active Users

Weekly reading – 28th November 2020

What I wrote last week

I wrote about why I think Apple Card would be a significant credit card as Apple Pay grows more popular

I wrote about Target, Salesforce’s acquisition talk with Slack and Uber vs Lyft

I reviewed President Barack Obama’s new memoir “A Promised Land

Business

The difference in the business model between Booking.com and Expedia

NYTimes and The Washington Post expanded their subscriber base substantially in the last two years

Black Friday’s online shopping exceeded $5 billion

Amazon is strengthening its advantages with delivery capabilities that can rival UBS’

TikTok used its biggest stars in its legal fight against the US government

Research shows that unique visitors to Microsoft Teams far outnumbered those to Slack in October 2020

Technology

There are 123 Fintech startups in Vietnam in 2020. Most of them operate in the Payments area

Users of the new Macs with M1 referred to the hardware as having “alien technology”, “wicked” or “sockery”

What I found interesting

Hanoi and Saigon/Ho Chi Minh City is the second busiest domestic flight route in the world

This piece tells a story about how Utah uses collaboration and human touch to create policies that help foster the state’s equality and economy. Two quotes stand out to me

Utahns seem strongly committed to charitable works, by gov­ernment, alongside government or outside government. What­ever tools used are infused with an ethic of self-reliance that helps prevent dependency . . . when there’s a conflict between that ethic and mercy, Utah institutions err on the side of mercy

Betty Tingey, after seeing the news coverage about the Utah Compact, wrote to the Deseret News, “I don’t know much about politics except the sick feeling I get inside when there is constant arguing. . . . I don’t know how to settle debates, but I know a peaceful heart when I have one. I felt it when I read the Utah Compact.”

Source: American Affairs Journal

This clip about an 86-year-old baking master in Greece gave me mixed feelings. On one hand, I admire his work ethics, but on the other, it can be a condemnation of a system that forces old people to work this late in their life

Weekly readings – 15th August 2020

What I wrote last week

I wrote a bit about Epic Games vs Apple, Goldman Sachs’ inroad further into consumer credit card world and the potential departure from California of the likes of Uber & Lyft

A historic day for America when Kamala Harris was named as Biden’s Vice President Candidate

My thought on Disney’s latest quarter

Business

Horace Dediu wrote a blog post answering some questions on Apple’s cash strategy

A long and informative deep dive into TikTok and what makes it great

Another deep dive by Turner Novak on Pinduoduo

Nick Sleep on Costco

Meet the Woman Who Got Joe Rogan and Michelle Obama to Spotify

Netflix Business Model & Economics 

A thread on why Avalara has real competitive advantages

Technology

Here’s why Apple believes it’s an AI leader—and why it says critics have it all wrong

How the government’s new real-time payments system could transform commerce

Apple wins a Patent for a Possible Dual Display MacBook Supporting a Virtual Keyboard & more

A potentially life-changing technology for visually-impaired folks

What’s going on with Apple Maps

What I find interesting

An inside look at a data analytics firm that Mike Bloomberg is using to help Democrats

The 19th-century entrepreneur who pioneered modern ice cream

A very long and interesting post on the bombing of Hiroshima and what was happening at the time based on recollections of a few survivors

Giant American Cars Don’t Belong on the Streets of the Future

How Taiwan’s Unlikely Digital Minister Hacked the Pandemic