Rishi Taparia - Issue #66
This week we look Uber’s data driven restaurant model, Walmart trying to develop community centers, Casper’s founding story, Amazon’s foray deeper into the business market, electric vehicle distribution around the world and more. Enjoy!
Commerce
Uber’s Secret Restaurant Empire
With great data, comes great responsibility. In Uber’s case, they are trying to be responsible for feeding you. With all they know about food trends in various geographies thanks to their Uber Eats app, the company has built 1,600 virtual restaurants in 300 cities. These ‘restaurants’ only exist in the Uber Eats app and are built with data on customer desires and trends, no store front required. In a word: Brilliant.
Walmart wants to redevelop parking lots into bustling town centers
One of the benefits of having space is the ability to reinvent its use. This is an ambitious plan from Walmart but could be the physical cornerstone in their push toward next generation retail. Execution here is everything, and convincing city inhabitants that the motivations of Walmart are aligned with the city’s is no small task.
Amazon HQ2: Advanced talks about second headquarters in Northern Virginia
Scott Galloway looks more prescient by the day. A flurry of activity took place this weekend as speculation grows that Crystal City in Arlington, VA (right outside DC) would be the winner of the gameshow known as Amazon HQ2.
Sinking into the Casper Mattress Story
A good look at the founding story of Casper and how they have built an iconic brand in what was once a very stale industry.
FinTech
Warren Buffett’s Firm Invests Millions in Fintech
Todd Combs and Ted Weschler are two names worth paying attention to in fintech. Both driving the next generation strategy for Warren Buffet’s Berkshire Hathaway. With $111bn to put to work and a clear appetite for fintech, these guys could do for fintech what SoftBank’s Vision Fund is doing for tech in general. Paytm and StonePagamentos are just the beginning.
Amazon Debuts No-Fee AmEx Card to Lure Small-Business Spending
Amazon is doubling down on business with a no-fee Amex card. Prime membership is required, but a 90-day no interest loan or 5% back on anything Amazon, Amazon Biz, AWS and Whole Foods is hugely valuable. I mean, 5% on AWS…that’s enough reason to do it right there! Just don’t be surprised when you get targeted, spend based ads. Separately, this is a great move by Amex who got massively burned when Costco went away from them to Visa. Maybe they’ll have the last laugh after all.
Plastic cards will be gone in five years: Synchrony CEO
Margaret Keane, CEO of Synchrony, made a comment during an interview discussed Synchrony’s investments in technology. “Asked whether she thought plastic cards would meet their demise within the next decade, Keane said she expects the transition to occur much faster than that.” Pushing a technology angle makes complete sense, and I applaud her desire, but in the world of payments there’s just no chance this one is true. File this one under the “yeah, no” category of predictions.
Technology
Electric vehicle capitals: Accelerating the global transition to electric drive
Fun fact: Almost half the world’s electronic vehicles are located in just 25 cities around the world. China is (unsurprisingly) the leader in the market, with 1.2mm of the 3.1mm global passenger EVs and 11 of the top 25 cities.
AI Guru Andrew Ng on the Job Market of Tomorrow
Former Chief Sentient at Baidu, Andrew Ng, talks about how artificial intelligence will impact jobs moving forward. Not too much new in here, but I appreciate him calling out the false promises and timelines some in the industry seem to perpetuate.
Random Tidbits
Air Force spends over $300,000 on metal coffee mugs, raising questions
The cups, which reheat beverages in-flight and cost $1,280 a piece, have a breakable handle that’s not purchasable. And I thought having coffee in SF was expensive…
Quote I’m thinking about: “A little learning is a dangerous thing; Drink deep, or taste not the Pierian spring.“ Alexander Pope