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!

Weekly readings – 18th July 2020

What I wrote

Uber’s latest chess moves

An interview with AirBnb CEO Brian Chesky on the future of his company and travel

What I think of a potential Twitter subscription feature

A groundbreaking and disheartening study on violence against women in Vietnam

Chris Evans started a project to facilitate communication between voters and elected officials. It’s called A Starting Point

Business

Kroger conducted a test in which they moved plant-based meat into the meat section at some select stores. The test proved that the move lifted sales of plant-based meat. This is great news for suppliers such as Beyond Meat and environmentalists.

In the past, I was somewhat bearish on Netflix’s prospect, but I have grown more bullish over the past year. The high retention figure below bolsters the new position

Source: Second Measure

Lidl’s entering the Long Island market caused competitors to reduce item prices by 8% to 15%. It’s worth noting that Lidl commissioned the study, but it was independently conducted.

Amazon is formidable in online grocery. The company leads many aspects in the latest study on consumer satisfaction with online grocery services.

Technology

US Netflix Subscribers Watch 3.2 Hours and Use 9.6 GB of Data Per Day

This company presents an interesting concept when it comes to encryption. Slack-rival Element wins largest ever collaborative software deal

A government’s role in stimulating demand and widespread adoption of next generation products is at play here. Europeans get substantial subsidies for electric cars from their government

How SHA-2 Works Step-By-Step (SHA-256)

What I think is interesting

According to JP Morgan, 19% of eCommerce transaction value in Vietnam in 2019 was through digital wallets while 34% was through debit and credit cards

How Parmesan cheese is made and how you can identify the real Parmesan cheese. Fascinating stuff

I didn’t know there is a company that has an exclusive deal with airlines to buy lost luggage

‘Absolutely No Mercy’: Leaked Files Expose How China Organized Mass Detentions of Muslims

Scale and Loyalty are more important online than offline

The competition for immigrants will heat up soon as women are giving birth less, especially in developed countries

Graph of number of children women have
Source: BBC

Violence against women in Vietnam

Vietnam has progressed a lot for the last few decades, both economically and socially. Nonetheless, there are still major issues that we have to face and violence against women is one of them. A recently published study shed light on this particular issue and some of the findings are both horrifying and embarrassing to me. I want to share them here because I believe in the transparency and in the fact that we can’t advance as a nation without looking squarely at our problems.

What is this study about? How was it organized?

The 2019 study consists of three parts: the quantitative study; the qualitative study; and economic costing of violence against women.

The quantitative component of the study (the “survey”) was conducted by the General Statistics Office at the request of the Ministry of Labour, Invalids and Social Affairs (MOLISA). This included reviewing and testing questionnaires, interviewer training, fieldwork and data processing. The quantitative study is a household survey covering all six regions of Viet Nam and is nationally representative. A multistage sample design was used to select a sample of 6,000 households. A total of 5,976 women aged between 15 and 64 completed a face-to-face interview with a trained female interviewer.The qualitative component of the study was conducted by the Centre for Creative Initiatives in Health and Population (CCIHP).

The qualitative study aimed to: provide a context for violence against women by intimate partners; triangulate the quantitative results; gain insights and explanations for quantitative data that are unexplained; and explore related issues that by their nature could not be studied through a quantitative survey. Data was gathered through in-depth interviews, key informant interviews and focus-group discussions. A total of 269 participants, including women with disabilities and from ethnic minorities, as well as 11 key informants, provided information and shared their experiences for the qualitative research.

Lastly, the study component on economic costing of violence against women was carried out by UNFPA Viet Nam in cooperation with several local and international consultants.UNFPA Viet Nam managed the overall process with technical assistance from the kNOwVAWdata Initiative (a partnership between the UNFPA Asia and the Pacific Regional Office and the Australian Government). The entire study was technically and financially supported by the Government of Australia through the Department of Foreign Affairs and Trade (DFAT) and UNFPA.

Source: United Nations Population Fund

At least 6 out of 10 women in Vietnam experienced violence at least once in their life time. More than 3 out of 10 experienced violence in the last 12 months

Figure 1 – Source: United Nations Population Fund

More than 1 out of 4 women in Vietnam agreed with this statement: “A good wife obeys her husband even if she disagrees”

Figure 2 – Source: United Nations Population Fund

More than half of the women in Vietnam think that there are good reasons for their husbands/partners to hit them

Figure 3 – Source: United Nations Population Fund

Half of the women who experienced violence didn’t tell anyone about it

Figure 4 – Source: United Nations Population Fund

More than 30% of working women experienced violence in their lifetime, a disturbing figure that signals even employment and some economic independence cannot save women

Figure 5 – Source: United Nations Population Fund

Compared to 2010, drunkenness became a more common trigger of physical violence against women in Vietnam

Figure 6 – Source: United Nations Population Fund

As a Vietnamese guy, I am really ashamed and embarrassed when I read this report. We still have so much to go as a nation. I don’t really care what the percentages are for other countries. This is not a competition. We have to be better than this. At least, I would love to see a few things:

  • There needs to be education to women on their rights. They don’t have to think that there are good reasons to be hit or that they have to obey to be called “a good wife”
  • We also must educate the men that it’s uncivil, reprehensible and awful to exert violence on women
  • As a society, we need to have a shaming culture on violence against women and call out terrible cases
  • There must be more organizations or groups that can protect women’s rights