Weekly reading – 3rd April 2021

What I wrote last week

Handling a lot of data isn’t easy

Business

A drive to survive: How Liberty Media used Netflix and esports to win a new generation of fans and safeguard the future of Formula 1

Apple Watch can function as a reliable indicator of cardiovascular activities

The a16z Marketplace 100: 2021

Credit Suisse’s research on Stripe

Credit Suisse’s research on Payments, Processors and Fintechs

How Vietnam can reimagine tourism

What I found interesting

The Ancient Method That Keeps Afghanistan’s Grapes Fresh All Winter

Who owns the Nile? Another geopolitical conflict that will take years to resolve, if we can even do so.

Stats you may find interesting

A survey by Brickmeetsclick shows that online grocery hit $8 billion in February 2021, down from $9.3 billion in January 2021

Meat sales in the US increased by 20% in 2020, compared to 2019

88% of Berkshire Hathaway Energy’s investment in Property, Plant & Equipment in 2020 was in renewables

Berkshire Hathaway Energy's PP&E in 2020

Berkshire Hathaway Energy’s renewables output made up 34% of its total production in 2020, compared to 12% in 2006

Berkshire Hathaway Energy's Renewables Output

Weekly reading – 6th March 2021

What I wrote last week

My take-aways from Berkshire Hathaway’s latest shareholder letter

A quick look at Buy Now Pay Later

Business

Demand for semi conductors exceeded supply by 30%

A look into Google’s failure to build games

A higher saving rate in American households is expected to boos the economy in the future

Macy’s, Gap, Neiman Marcus Will Let You Buy Now, Pay Later. The piece has some good information on the “Buy Now Pay Later” trend

WSJ profile of Roblox

A very nice post on Reddit’s history and its potential that has never been realized

The New Era of Social Media Isn’t About Feeds

A very interesting piece on payments in Vietnam. From my observation, it’s true that a lot of Vietnamese skip credit cards and go straight ahead to e-wallet.

Google is going to stop selling ads based on individualized tracking. As users are more conscious of their privacy and the topic becomes more scrutinized, I do think it’s in Google’s best interest to start looking at a new way to deliver effective ads. The macro environment is changing. The conditions are less favorable to their way of doing business. Why sticking to the old way? Google has enough talent and resources to pivot and innovate. If I were a Google shareholder, I would be happy about the news

Rolling Stones interview with Twitter and Square CEO Jack Dorsey

What I found interesting

Taking on the tech giants: the lawyer fighting the power of algorithmic systems

Africa’s biggest air polluter is now battling sewage flows into a major water source

SoundCloud announced changes to how they compensate artists. The move is said to help less popular creators, but how much exactly the help would be remains to be seen.

Using Apple Silicon (M1) as a cloud engineer, two months in

How to operate an airport in Antartica

Stats that you may find interesting

21% of Vietnam’s eCommerce spend was from Digital/Mobile Wallet

Instacart claims that they are serving 85% of US households

Kohl’s partnership with Amazon added 2 million customers in 2020

If the world adopted a plant-based diet we would reduce global agricultural land use from 4 to 1 billion hectares

Weekly reading – 23rd January 2021

What I wrote last week

A few simple tips to save money that I have from personal experience

I wrote about the debate on whether social media should censor Trump

Business

Internal deliberations at Twitter over whether they should ban Trump

Checkout.com vs Adyen

If you aren’t too familiar with Fintech, this article is a good place to start

A piece on a16z and its media-savvy founder

Apple TV+ is said to have only 3% of the market in which Netflix still remains the leader

21% of Chime’s revenue per user as of June 2020 came from ATM fees for out-of-network withdrawals

Nintendo – capitalizing on nostalgia

A survey shows that Apple may have a problem with Apple TV+ churn on its hands

A profile of the CEO of Edwards Lifesciences

The Story of a Cap Table: Affirm

Technology

The Myth of The Infrastructure Phase. Such an interesting read on the development of applications and infrastructure

The insider story of PDFs

What I found interesting

A beautiful beautiful letter on living a life worth living

Nikkei Asia has a nice piece on Covid-19 as an opportunity for Vietnam, given how the country has masterfully managed the crisis so far

Why cats love catnips

Axios has an 8-part (till now) series of great reporting on Trump and his post-election madness

Weekly reading – 26th December 2020

Last episode of 2020

What I wrote last week

Amazon’s bullying tactics and my thoughts on some antitrust issues

My review of Wonder Woman 1984 and why I like it

Business

Streaming Is Stalling: Can Music Keep Up in the Attention Economy?

The economics of the human hair trade

The global boom in neobanks – digital banks

Reuters reported that Apple Car might be coming soon in a few years. Much as I want to see that happen, I still remain pretty doubtful

Substack has more than 250,000 paid subscribers and the top 10 publishers earn more than $10 million/year

The death of department stores

Telegram is approaching 500 million active users and selling ads

Technology

YouTube’s recommendations try to give you toxic content, alleged an engineer who used to work on their algorithm

A few folks rendered a million webpages to find out what made websites load slowly

What I found interesting

A 9000-year-old Stonehenge-like structure was found under a lake in Michigan

Early humans may have slept through devastating winters

An insider story on why Vietnamese people in South Korea sent their infants back to the homeland on repatriation flights

Some amazing photos of Phan Thiet, Vietnam some decades ago

Life of an Iranian woman in Iran during Covid and amidst crushing sanctions from the US. Every time I read these stories, I am thankful for the life I currently have in the US. Is it perfect? No. But I’d be a damn fool not to appreciate it.

What’s the danger with Vietnam’s motorcycle helmets?

Weekly reading – 12th December 2020

What I wrote last week

How much money could you save from drinking coffee at home?

Business

The economics of the $2B+ Christmas tree industry

Bloomberg’s profile on OnlyFans, a potential major social media on the horizon

Uber sold its autonomous vehicle arm to Aurora. This move isn’t a surprise given that Uber has been trying to offload cash-intensive and loss-making businesses in order to focus on the ones that do make money. Though there is a big write-down from $7.5 billion to $4 billion, investors may find this deal good news

CNBC has a good article on AT&T, HBO and their effort to compete with Netflix and other streamers

Inside Google’s deal with French Media

Many Google employees came out with their version of the story involved Timnit Gebru, contradicting what the company publicly said

WSJ’s profile on a few men that helped build Microsoft’s gaming business today

Online grocery slowed down in the last few months compared to the height in the summer. The basket size continued to be relatively big, compared to the same period last year and pre-Covid months.

https://www.brickmeetsclick.com/stuff/contentmgr/files/1/495948404a0913f7ced51b6524a17539/files/bmc_scorecard_nov_2020_sm.png
Source: Brickmeetsclick

Clover, which belongs to Fiserv and sells hardware & software payment solutions to small businesses, a competitor of Square, seems to have a higher GPV as well as a higher percentage of sellers with $125k in annual GPV. As Clover has more than 90% of its sellers above the $125,000 GPV threshold, the figure is far smaller for Square.

Source: Fiserv

Technology

John Gruber’s review of Apple’s latest product: AirPods Max

What I found interesting

A story on a small coffee business in Vietnam that prioritizes sustainability

Benefits of walking

The US Department of Health and Human Services published a presentation on how unhealthy Americans’ diet is. The information is informative and use, but the presentation is hilariously terrible.

The old Americans get, the more they spend time alone

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 – 11th October 2020

What I wrote last week

My thoughts on Section 230 and why I think Facebook & Twitter are failing us

Business

An interview with the principal medical officer of Amazon Halo, Amazon’s latest health tracker. Amazon has an established relationship with consumers, a well-known & loved brand, a war chest and expertise in machine learning. It’ll be interesting to see how Amazon Halo will compete in this space.

A family business controls 97% of the ice cream truck music market

Covid-19 has decimated independent restaurants much more than it has the biggest chains

Google, once a friend, becomes a formidable foe of travel companies.

A startup released its Serie A funding round memo publicly. Pretty interesting.

The challenges that Disney faces in designing a strategy for Hulu

Technology

A comprehensive review of iOS14 and iPadOS14

Google announced a new feature that would allow users to look for songs by just humming. Don’t you love technology? It’s very remarkable

What I found interesting

Gen Z folks feed themselves misinformation. A pretty interesting yet scary revelation.

Pu Luong, a pristine and untouched beauty in the North of Vietnam, a few hours from the capital

How Oslo Achieved Zero Pedestrian and Bicycle Fatalities

If you have a chance to visit Dalat in Vietnam, try this dish. It’s great, delicious yet dirt cheap. I miss it.

On average, Americans spend $21 on subscriptions every month

Weekly readings – 22nd August 2020

What I wrote last week

I compared what is happening in Vietnam and New Zealand in the fight against Covid-19 and why it looks very bleak for America

I wrote a bit of analysis on Square, the owner of Cash App

Business

Instacart dominated the grocery delivery in the US

Second Measure on pandemic grocery spending
Source: Second Measure

A startup that promises to deliver groceries in less than 13 minutes in Turkey

An interview with the CEO of New York Times. He grew the subscriber base from the rock bottom of 22,000 in Q2 2013 to 6.5 million today

How Uber Turned a Promising Bikeshare Company Into Literal Garbage

Technology

Ben Evans on App Store and antitrust issues

A deep dive into iPhone 5C plastic cases

John Gruber on TikTok as a security threat

What I find interesting

The Canva Backlink Empire: How SEO, Outreach & Content Led To A $6B Valuation

To all Americans who are told all the nasty and misleading facts about Socialism & Communism whenever social benefits and safety nets are mentioned, please read this from your fellow American, who considers his move to Vietnam the best decision

Confessions of a Xinjiang Camp Teacher

A dazzling civilization flourished in Sudan nearly 5,000 years ago. Why was it forgotten?

Schools saw Covid outbreaks. We got this onto ourselves

I remember six months ago, on a Friday when I was in the office, my colleagues and I were alarmed by the news that Covid-19 appeared in Omaha. We got the first confirmed case on that day. I went straight from my office to my car and drove to buy supplies that I still keep to this day. After that, we followed the news to get updated every hour on the number of cases in the US and Omaha, where we live. Every new case was a big deal. Fast forward to now, 6 months later, we have more than 170,000 deaths in the US and the number of cases is not in the hundreds or the thousands. It’s in the millions. I no longer care what the number of cases is on a daily basis. My friends don’t and judging from what I have seen on the streets of Omaha, Nebraska, many don’t either. We are already used to living with the virus at this moment. Not because we beat it. No, the number of cases in the US is still high. The last day when we had fewer than 35,000 new cases a day was almost 2 months ago! And look at the upward trend from left to right. You would love it if that were your stock portfolio’s return, but this is a deadly pandemic we are talking about!

Source: Google

Things don’t seem much better in Nebraska. We are on the same level as we were in May, in terms of new cases a day. It has been three months and it’s pretty difficult to argue that we made progress.

Source: Google

Vietnam’s handling of the crisis has been objectively successful. It was perfect up till 31st July. After going 99 days without a community transmission, an outbreak appeared in the 3rd biggest city in Vietnam. Since then, we have had 300-400 more cases and 25 deaths so far. The same story applies to New Zealand. The country also had a 102-day streak of no transmission before a new outbreak appeared out of nowhere.

That goes to show how vulnerable and fragile our societies are against this virus without a vaccine. If we don’t take, I’ll say it, draconian measures before a vaccine arrives, we won’t win this battle. Vietnam put towns with infections into lockdown. No one can be in or out. Borders have been closed to international guests for 6 months and I expect it to continue to the end of the year. Authorities go on the streets to fine folks who don’t wear a mask. Even all of those measures cannot stop the virus.

Look at what we are doing here in the US. Anti-mask is still going on in the country. If a government institutes a lockdown like we do in Vietnam, I fear there would be a civil war. Worse, some states are pushing for schools to reopen. To no one’s surprise, it didn’t take long for the consequences to arrive. Omaha reported, as of Tuesday (8/18/2020) night, there were 17 students and 18 staff tested positive while more than 150 others were in quarantine (Source: Omaha.com). In Mississippi, 71 out of 82 counties reported outbreaks at school with more than 430 confirmed cases and 2,500 in quarantine (Source: Tara Haelle).

Given what happened in Vietnam & New Zealand and what is happening in the US, do you think we are going to contain this pandemic without a virus? I don’t. The consequences of our failure are real. One of my teammates has three kids, two of which are 5-year-old twins. He desperately wants to send them to school, because working remotely and taking care of three kids at home with their class schedule is taxing for him. However, at the same time, sending them to school means that he is putting their health at risk. And I don’t think his situation is unique. It’s common among Americans.

While some businesses boomed lately because of the pandemic, many others struggled. Even a corporation like Kohl’s struggled financially, let alone small businesses. The government can throw money at the problem a couple of times, but it can’t be the solution forever. Somewhere it has to stop. Additionally, many people lose jobs and have likelihood in jeopardy. The stimulus check is still stuck somewhere in the Senate.

Airlines have secured a lot of cash to improve their liquidity, but at some point, they will have to increase the number of flights, including international routes. But if they do, receiving folks from other countries can easily raise the risk of new infections.

The domino effects of our situation in the US are multifold and severe. Yet, the odds that we have even a mild control over it are pretty slim in my opinion. Remember the last time we had fewer than 35,000 new cases a day was almost 2 months ago and you have to go back to 22nd March 2020 to find the last time we had fewer than 10,000 new cases a day.

This is not a summer that I could ever envision. I miss the feeling of sitting in a coffee shop for a couple of hours and working on my laptop. I miss sitting on a patio and having fun with my friends. I miss going to the office to meet my colleagues. I miss going to a park without wearing a mask. We could have had a chance at all of that if we had done a better job of handling this crisis.

Weekly readings – 25th July 2020

What I wrote

Slack filed an antitrust complaint against Microsoft over Teams to the EU. On the surface, I don’t think Slack is going to win the case, if the EU decides to formally launch an investigation. How Microsoft structures their Microsoft 365 offers does give customers a choice to include Teams or not, a counterpunch to the core of Slack’s complaint. I wrote my thoughts here

I also wrote about matcha, how it can beneficial to our health and why it and its accessories are expensive

Business

In investing, when truly exceptional opportunities present themselves, Charlie Munger said: use a shovel, not a teaspoon

Both strategies yield the same result: that foreign affiliate employment increased as a direct response to increasingly stringent restrictions on H-1B visas. This effect is driven on the extensive and intensive margins; firms were more likely to open foreign affiliates in new countries in response, and employment increased at existing foreign affiliates. The effect is strongest among R&D-intensive firms in industries where services could more easily be offshored. The effect was somewhat geographically concentrated: foreign affiliate employment increased both in countries like India and China with large quantities of high-skilled human capital and in countries like Canada with more relaxed high-skilled immigration policies and closer geographic proximity. These empirical results also are supported by interviews with US multinational firms and an immigration lawyer

Source: NPER

How Ben & Jerry’s Perfected the Delicate Recipe for Corporate Activism

A look at how influential Facebook is in Bangladesh

Apple’s report on their sustainability progress

Where banks really make money on IPOs

An investigative piece by WSJ that looks into accusations that Amazon used confidential information accessed through its investment arm to launch competing products.

Shopify Saved Main Street. Next Stop: Taking On Amazon

An interesting piece on what appears to be a change in strategy for Apple TV+. This streaming space is highly competitive. I look forward to how Apple will compete with other heavyweights. On a side note, I really enjoyed Greyhound. You should give it a try

Technology

Giving GPT-3 a Turing Test

A good blog post on the behind-the-scenes technology that changed air travel

A report commissioned by Apple on commission rates of other marketplaces, compared to Apple Store. It’s an interesting study and it’s definitely good to have all the facts in one document. On the surface, Apple Store’s commission rates don’t look outrageous, compared to those of other marketplace platforms. However, the debate doesn’t end only at take rates

What I think is interesting

The Last Hunter Gatherers

A great write-up on beaches in Quy Nhon and Phu Yen in Vietnam. If you visit my country, I highly recommend that you go there. Wonderful beaches, few tourists, and great sea food

For years, African countries have taken loan money for China to improve their infrastructure and economy, in exchange for the use of these countries’ vast reserve of rare metal and resources. Now, a report said that Africa is more aware of the strings attached to loans from China. For a good reason!