Rishi Taparia - Issue #14
This week had Alibaba report monster earnings, Lord and Taylor selling their iconic 5th Ave location to WeWork, WhatsApp threatening as a major payments player, a good read by Bonobos CEO Andy Dunn on the importance of timeliness and more. Enjoy!
Commerce
Alibaba Profit Rises on Targeted Use of Consumer Data
Alibaba announced killer FY2Q earnings this week, in large part (and unsurprisingly) due to better data usage to properly target customers. $8.3bn in revenue, 488 million active consumers, 99% growth in the cloud business and 549mm mobile users. Not too shabby.
Department Stores Have One Thing Left to Sell: Real Estate
Flailing retailers are offloading their often-iconic buildings. The latest casualty: Lord and Taylor sold their iconic 5th Avenue location to WeWork for $850 million.
To Compete With Amazon, Retailers Reach For AI -- Here's How Some Get It Wrong
Retailers are increasingly trying to find ways to improve the commerce experience. ‘AI’ is the term du jour, with multiple strategies being implemented. The unfortunate reality is there is no Silver Bullet in commerce. An interesting piece on the the questions retailers need to ask – and answer – before they make up a strategy.
There's precedent for Amazon competing with so many companies. It doesn't end well.
A well researched piece on Amazon, it’s quest to dominate all markets, and a bearish view on how it can end.
FinTech
WhatsApp in-chat payments feature is bad news for digital wallets, payment companies in India
WhatsApp is going to begin rolling out their digital payment strategy in India. If this roll out goes anywhere according to plan, India’s about to have a massive new player that shouldn’t be taken lightly.
New York to Replace MetroCard With Modern Way to Pay Transit Fares
Farewell trusty yellow Metrocard that I will always inevitably lose or forget how much money is on it. New York’s transit system is replacing the MetroCard with a technology that can accommodate cellphones and certain kinds of credit or debit cards.
NAB, Westpac and CBA team up with new payments app, Beem
Three of the Australia’s banks have joined forces to roll out Beem, an app that enables instant payments between people or to small businesses via a smart phone, the idea being to create a ‘digital wallet’. Seemingly copying Zelle in the US, this is one initiative that feels a little too late,
Alibaba-Affiliate Ant Financial Isn’t Itching to Go Public
Ant Financial, Alibaba’s financial affiliate, has long been believed to be the next publicly traded unicorn in the Alibaba family. Having last raised $4.5bn at a $60bn valuation, the company (which includes Alipay as part of its offerings), the company supposedly go public anywhere between $150bn and $200bn. However, as the company focuses on executing on its global strategy, the long anticipated IPO seems to be on hold.
Debating Where Tech Is Going to Take Finance
Economics professor Tyler Cowen recently spoke with Bloomberg View columnist Matt Levine, on the future of technology and finance. An interesting discussion that touches on the future of identity, blockchain, global banking and others. A point I liked: “I think that a lot of financial technology is heading in the direction of perfecting that vanishing act, so that in 20 years you’ll just think about financial things less than you do now.”
Technology
22 Million Amazon Echo Smart Speakers To Be Sold In 2017, Driving US Smart Home Adoption
Amazon sold over 11 million Amazon Echo devices in 2016, and Forrester expects this number to double in 2017. Driven by the rapidly growing adoption of smart speakers, the installed base of smart home devices in the U.S. looks to reachhttps://www.racked.com/2017/11/2/16595426/department-stores-selling-real-estate 244 million in 2022.
Random Tidbits
How to Remember What You Read
The benefits of reading are negated if you don’t remember what you read. This article discusses a tested system to increase retention. A fantastic piece with a lot of actionable insights.
The Angel’s in the Details
A good post by Bonobos CEO Andy Dunn on timeliness as an indicator for success.