Speaker unverified: belief

Transcript context

…There's a platform that's selling iPhones via this community group-buying model in rural China. Yeah. It's one of the top ones that are well-funded. What I'm saying is that this is a model, but while it's starting off at groceries, you can see pretty clearly that this is really just rural ecommerce. The group-buying aspect is if you consider group-buying as something like the order only happens when enough people order it, that's not really happening right now anymore either. Even the group-buying aspect, I would say everything about these words is up for debate. I would just call it hyperlocal rural ecommerce, which by the way, Alibaba, their new initiative, that's what they're calling it. They're calling it hyperlocal ecommerce. The way this all works is fascinating. The platforms are pushing so much of the logistics work onto users and leaders of these group-buying platforms themselves. PDD, Meituan, or whoever is actually doing very little to get these products in the hands of customers.…

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