David Rosenthal: belief

Transcript context

…Right. If they threw all their weight behind PDD, how could that meaningfully change the trajectory? Here's another interesting thing. I didn't dig too much into this but there are articles—I believe that Tencent has been testing competing in the space on their own natively. Like spinning up a social commerce platform within Tencent. There are all sorts of reasons why they could be doing that—to learn more, experiment, and all sorts of stuff. Facebook, to talk about them, is another example. They're building new stuff all the time that they don't really intend to invest behind. But if they were to decide to make this a big initiative, that would really suck for Pinduoduo. Yup. To give an answer, because we're going to waffle on the fence, I'm going to say I'd rather be Alibaba. I'd rather be Taobao,especially at these prices. A big part of my analysis is PDD is so freaking expensive. I’m curious where you fall down on that.…

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