Speakers in the public record
Claim mix
belief 13evaluation 8uncertainty 4commitment 1preference 1recommendation 1prediction 1
Evidence policy
Every row below preserves an exact excerpt. Identified speakers are linked; unresolved voices are labeled and excluded from people counts.
Claim ledger
The useful parts, with receipts.
29 published records
“What they end up doing—and I think part of what makes the economics of this whole thing work—is it’s not distributors, retailers, and the traditional people who are going to sell on Alibaba and JD who are successful on Pinduoduo.”
- Publisher
- Acquired
“I promise I will pick a horse in a minute, but I actually wonder—thinking about this a little bit—if this might be a case where the right move is just to buy shares in all three.”
- Publisher
- Acquired
“I think there's a structural reason why this is going to be tough in the US in a way that wasn't in China.”
- Publisher
- Acquired
“I don't know enough about the supply side of these ecommerce platforms in China to say, but they might have been able to also build a network on the other side to a unique network that's defensible of suppliers.”
- Publisher
- Acquired
“One reason I'm hesitant to say is I don't know enough about JD, about what their strategy is and what a bull and bear case for JD would be.”
- Publisher
- Acquired
“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.”
- Publisher
- Acquired
“I would say at this point in time, Alibaba’s various properties—the equivalent is Amazon plus eBay rolled together in China.”
- Publisher
- Acquired
“Literally, the insiders, I don't think have sold a share here—the major insiders—and I think that speaks volumes.”
- Publisher
- Acquired
“There's definitely a wine bottle in front of them. I think Duan paid over $600,000 for lunch.”
- Publisher
- Acquired
“At least one of the equity follow-on rounds that they did as equity raises after the IPO, I believe Tencent bought most of or at least a significant portion.”
- Publisher
- Acquired
“I don’t know if Lei worked full time at Google, but I know he interned at Google together, then they worked on the first company and all the companies all along.”
- Publisher
- Acquired
“I think we've talked about on the show, Ben and I don't compare notes before we record so that we keep our reactions authentic.”
- Publisher
- Acquired
“Maybe rearranging deck chairs on a Falcon Heavy. It doesn't matter. You should just buy shares in all of them.”
- Publisher
- Acquired
“If we think about the way China has different cities, there's tier 1, 2, 3, and 4.”
- Publisher
- Acquired
“You've got a pretty good network. It might be a better idea, I think you should check out this little startup down in Mountain View.”
- Publisher
- Acquired
“I'll give my first one first and for the second one, I think David may claim it.”
- Publisher
- Acquired
“JD is 28% of GMV as recognized as net revenue to the marketplace. I think Tmall and Taobao are 5%, but still meaningfully higher.”
- Publisher
- Acquired
“I guess the structural question is the things that they're really good at—this gamification, retention, virality, team buying—are those things going to help them acquire the future users that they need to acquire and extract more dollars from their existing base? I don't know if the answer to that is yes.”
- Publisher
- Acquired
“Let's start a company. They launched a new company called Pinhaohuo (I think is how you pronounce it).”
- Publisher
- Acquired
“For folks that haven't listened to any of our China series before, the way to think about China tech companies is there are the best three from the previous generation of Baidu, Alibaba, and Tencent.”
- Publisher
- Acquired
“There was a missing segment that was not being addressed by either of those two companies, and it is enormous. This episode felt very timely, not just because of that $100 billion milestone for Pinduoduo, but also because ecommerce in general is having a moment (as they say).”
- Publisher
- Acquired
“At first, I thought Costco and Disneyland were going to be the hook, and then I realized all the stuff around it is actually far more absurd.”
- Publisher
- Acquired
“I think you do need to build special versions for each operating system, even if you're building a Mini Program, or at least hook into the native stuff on its own.”
- Publisher
- Acquired
“Since Alibaba competed with Tencent and basically wouldn't use WeChat platform, in fact, I think Alibaba actually banned their sellers from encouraging the use of WeChat and made them use their own chat platform.”
- Publisher
- Acquired
“I'm very fascinated by this Tencent decision because they let a thousand flowers bloom because they really have gotten to see and invest in all of these companies that are getting built.”
- Publisher
- Acquired
“A major shareholder in Snap, DiDi, and Meituan Dianping. But I think you could make an argument that now it’s about 17% ownership that they have in Pinduoduo is maybe their most important stake in the whole portfolio.”
- Publisher
- Acquired
“This is a company that does need cash to grow. It didn't need cash to grow originally because it was just growing like wildfire on WeChat, but now they have to invest dollars to make this thing grow and big dollars.”
- Publisher
- Acquired
“I think the retailer would control this too and say, if you bring 20 people, then it becomes 10 people, and now it's all the way down to 2 people.”
- Publisher
- Acquired
“Being a retailer, we did this MVP with Pinhaohuo, but that was kind of hard. We built a bunch of infrastructure and it certainly requires cash.”
- Publisher
- Acquired