Rishi Taparia - Issue #21
This week JD.com shares their unmanned store strategy, more on why malls are dying, the cost of demonetization in India, the older generation’s obsession with WhatsApp, how the Opium Wars still shape China’s view of the West and more. Enjoy, and happy holidays!
Commerce
JD.com will open hundreds of unmanned convenience stores
There was quite a bit of fanfare around Amazon’s unmanned grocery store concept announced just over a year ago. Unfortunately, technical hiccups have led to a delayed launch with the initial buzz having died away. JD.com has seemingly beaten Amazon to the punch. 10,000 employees at its Beijing headquarters have been testing their unmanned stores, and now they plan to open hundreds of such stores around the country next year in a partnership with a massive real estate player. The future is here, and being built in China.
In America’s Most Middle-Class City, the Mall Is Dying. Here’s Why
As I’ve mentioned a few times, the future of retail is the experience. This WSJ article on the city of Wassau, WI and its local mall describes it well. Small businesses providing a more curated and personalized feel are getting their groove back. As one. “People want that mom-and-pop store again…It’s all coming full circle.”
FinTech
RBI's big spending on new notes after demonetisation has cost the Modi government $5.5 billion
It takes money to make money…literally. The demonetization effort put forth by the Indian government in 2016 resulted in US$5.5bn worth of expense thanks to the high cost of printing new notes. Now the question is whether note-makers were paid with new bills or old…?
Technology
Older Indians Drive Millennials Crazy On WhatsApp. This Is Why They're Obsessed.
A hilarious and must read piece for anyone interacting with their families via WhatsApp. Going deep into the psychology behind messaging, the randomness of the GIFs and positive thought messages, and the dangers of the service due to the propensity for fake news to spread, it describes my experience with such accuracy you would think the writer was on my phone!
Random Tidbits
The Opium Wars still shape China’s view of the West
China and Britain fought a war in the 19th century. Britain won and moved on. Most Brits today wouldn’t know anything about it. But China has not forgotten the Opium Wars. A #longread that explores the Chinese humiliation following the conflict and how it’s current dominance is, at root, a means of avenging the Opium Wars.
The Western Elite from a Chinese Perspective - American Affairs Journal
A fantastic piece that explores the differences between Western and Chinese society, focusing on the path to success. “In Communist China, I was taught that hard work would bring success. In the land of the American dream, I learned that success comes through good luck, the right slogans, and monitoring your own—and others’—emotions.”
Millennials Are Screwed
An article that made the rounds this week, focusing on why millennials are facing the scariest financial future of any generation since the Great Depression. The answer: uncertainty. Well researched with some eye opening data (an ‘09 college graduate could earn up to $58,600 less than the typical ’07 grad due to the recession), read this one on a desktop if you can - it’s interactive.