Speaker unverified: belief

Transcript context

…Coming back to the very first conversation about why we did this in the first place, the point Chenyi just made is the fundamental one, which is that creation of economic value is pretty orthogonal to capturing some of that value for yourself, which is to say the creation of company value. Creation of economic value and the creation of company value are different animals, and both are important. There's a dynamic connection in the sense that if you create economic value, it creates the opportunity to think about capture and so on. In just a single slice in time, they're very different, but that's a fundamental point about all this. I think that's a good way to put it, which basically means all of the common narratives out there are really useful. They're really useful as idea generators that tell you where to look for the next product/market fit out there. We think the understanding of power is the missing link here. We have all these ways to come up with options, but how do you assess which one of them is really the best idea? That's what we set out to give a better structure to. I'll just say how power helps you out in a way. I mentioned this ethereal concept before of this definition. It's rather important. If you think about Uber versus Netflix, where do they go next? Uber, at first, their thought was that this was an international business. That means that going into China, somehow, their strength would be transferable into that effort, and they could be successful. Netflix thinking about going international, thinking that if they started streaming in Korea, that would make a lot of sense.…

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