This Week in Future Startup | No.03
We’ve published 04 essays, 02 news analyses, and 01 partner stories this week. Read them below.
1. What is Practice
I have started a new book this week by always fascinating Maria Konnikova, The Biggest Bluff: How I Learned to Pay Attention, Master Myself, and Win. I’m mid-way through and it is an excellent read. I have also been reviewing my notes from last week’s Mastery by George Leonard. I published a short essay on one of the chapters of Mastery titled practice. Our idea of practice is quite departmental in nature. We think about practice when we think about some skills. Say cricketers practice daily. Footballers practice and so on. But if you look at the idea of practice it is about getting better at something by doing it repeatedly with an intention to improve. It means we can bring the idea of practice to every aspect of our life, from how we run our business to how we deal with our marriage and relationships. Read the essay here.
2. Wage Digitization for RMG Workers: Financial Inclusion Paving the way for Innovation
Nabila Khurshed has put together an excellent essay at the intersection of wage digitization, financial inclusion, and innovation. “The digitization of wages provides a multitude of opportunities — from empowering women, to improving access to financial services, to enhancing the overall quality of life for workers and their families — and lays the foundation for advancing financial inclusion for low- and moderate-income workers in Bangladesh”, she writes. Read the essay here.
3. Foodpanda Vs. Restaurants, Internet and Aggregators, and What Restaurants Can Do
Humans understand through analogy. When we see a new thing, we first try to put it in the context of something that we already know and then find similarities and differences. This is a useful framework. But at times it could mislead and limit our understanding of reality. Digital businesses such as Foodpanda and Shohoz Food are not mere food delivery services, these are powerful entities with almost infinite opportunity to scale and exert power in the market. Tech analyst Ben Thompson calls these businesses aggregators. In the context of Foodpanda, it aggregates demands and thus market power, which it then uses on restaurants to earn greater commission and so on. In this essay, I take a critical look into Foodpanda vs Restaurants saga and offer a new lens to understand these internet businesses. Read the essay here.
4. COVID-19 Response Strategy Has Changed B2B Marketplace Sindabad
Coronavirus pandemic has changed our world. It has also changed how businesses operate and deal with a crisis. If you pay attention, businesses are broadly trying to address the pandemic challenge and the widespread fall in demand in two ways: cut cost and pivot to more relevant verticals. These responses have many second and third-order consequences. And how companies across verticals use these tools tell a lot about their strategy. When you make a major strategic decision like a pivot or laying off, it changes your business forever. A strategy is all about knowing what to do and how to do it well. Good strategies are usually simple, unambiguous, and straightforward. In this essay, I examine the B2B marketplace Sindabad’s response strategy to the coronavirus pandemic fallout. Read the essay here.
2. News analysis: 1. Industry Dive Acquires NewsCred’s Content Marketing Studio and Services 2. Truck Lagbe Looks to Forge Closer Ties with Driver Partners Amid the Pandemic, Provides Free Disinfection Service to top Drivers
1. Bohubrihi Launches Career Track: An Exclusive Online Course on Full-Stack Web Development