Peter Fisk

In the ever-changing world of e-commerce, Temu grew like a phoenix in its first 12 month since launching into US and Europe in September 2022. What was once a little-known Chinese app has now outpaced industry giants like Amazon and Shein.

Or as the New Yorker put it “Temu seemed to come out of nowhere, and now it’s everywhere, its customers summoning $5.79 yoga pants, $27.98 doorbell cameras, and $10.29 garment steamers by the thousands, directly from factories in China to their front doors within a week or two. In some ways, Temu could not be more out of step with some current trends in the American market, where delivery times are all-important, name brands carry enormous weight, and sustainability and ethical sourcing are marketing fodder. Like TikTok, it’s a corporate sibling to a major Chinese internet platform competing with entrenched American giants, which means it faces potentially existential political risks.”

Launched in September 2022, Temu has taken the e-commerce scene by storm. Within months, it has managed to outperform long-standing titans like Amazon, Walmart, and Shein. Its unique business model, coupled with an aggressive marketing strategy, including a whopping $14 million Super Bowl ad, is creating a seismic shift in the business landscape.

Supported by its parent company, Pinduoduo, Temu offers ultra-cheap imitations of popular brands. Looking for an Apple Watch copycat for $10? Temu’s got you covered. While this strategy raises financial news and technology concerns, especially from the U.S government, Temu’s growth seems unstoppable.

Shop like a Billionaire

Using Temu doesn’t really feel like shopping in the sense that one shops at a supermarket or a mall or a big-box store, or even on most e-commerce sites, moving from place to place, browsing a coherent selection, and then making purchases informed at least in part by conscious intentions. You can search, and you can explore different categories in which you’ll find thousands of products, but Temu is, from the first moment you open it, unapologetically hustling you.

To engage with Temu is to be cornered in conversation with an AI-powered salesperson who is ushering you past endless tables of assorted goods to sell, right now, with escalating special offers, chained promotions, exclusive limited-time discounts, and lots and lots of free stuff. In the space of a minute, an initial buy-seven-get-three-free promo morphs into a buy-four-get-two deal; “Gifts” pile into your inbox, nudging you through casino-style pseudo-games promising free products, and even cash, in exchange for inviting friends; $2 products that arrive later than expected result in $6 shopping credits. In any other context, a single one of these sales techniques would read as scammy and ridiculous. In Temu, they combine into a totalizing and strangely compelling promotional experience, where prices and timers keep ticking down while your account’s various credits — cash, tokens, invites — keep ticking up, suggesting some sort of climax: a payout or, much more likely, a tiny first purchase of just a few dollars. Lots of American retailers have dabbled in gamification to draw users back to their sites and apps, to make them feel like they’re getting a deal, and to nudge them closer to the checkout screen; Temu, like Shein, draws from promotional techniques that have been used to great effect by retailers in China, where such gamification has been common for years.

How it works

As a business, you always look for methods to improve efficiency and streamline your processes. Temu can help in this situation. It is a shopping software that provides a distinctive online marketplace where companies can find and buy top-notch products from independent and small-scale manufacturers worldwide.

Temu eliminates the intermediary and directly lowers expenses by connecting companies with suppliers directly. Businesses may optimize their purchasing strategy and cut costs using their effective inventory management system and precise sales forecast tools.

Your orders will be delivered promptly and effectively to your doorstep. By cooperating with this app, businesses may save money and time while assisting independent and small-scale enterprises worldwide.

It would doubt its credibility at first. The platform guarantees to reward consumers with credits through contests and referrals and offers exceptionally cheap things.

Despite this, this app is a legitimate marketplace that provides a variety of deeply discounted products, from garments to kitchenware, and it has grown popular on social media sites. However, Nearly 50% of its viewership is male, and 47% is female. The most influential age group of users is between 25 and 34.

Nevertheless, many people with the most excellent inflation rates and who have been severely impacted in a generation have found this app to be a practical choice for holiday shopping.

Thanks to its distinctive features and reduced products, it is one of the platforms with the quickest growth in the US. Although the site can appear too good to be true, it’s vital to remember that it is a legitimate platform that provides authentic goods at a significant discount from established shops.

Tony’s Chocolonely is a Dutch chocolate company that has gained international recognition for its commitment to producing slave-free and fair trade chocolate.

The company was founded in 2005 by Teun van de Keuken, a Dutch journalist from the Dutch TV-program “Food Unwrapped” when he discovered that the large chocolate manufacturers used cocoa from farms with children slaves at work.

De Keuken’s journey began when he discovered that many chocolate companies were not taking sufficient measures to ensure that their cocoa supply chains were free from exploitation and child labor. Feeling a moral obligation to address this issue, he decided to create a chocolate brand that would be fully committed to fair trade and slave-free practices.

Tony’s Chocolonely introduced its first chocolate bar later in 2005, which was initially a limited edition. The company’s mission was to set an example for the chocolate industry and inspire change.

The brand gained popularity in the Netherlands and began to expand its product line. The company emphasized the importance of transparency in its supply chain and published annual reports detailing its efforts to combat child labor and slavery.

It became the first chocolate brand in the world to achieve 100% traceability for its cocoa beans. It also advocated for industry-wide changes and collaborated with other stakeholders to address systemic issues within the cocoa supply chain.

Tony’s Chocolonely’s unique approach and commitment to ethical practices gained international attention. The company continued to grow, expanding its market presence beyond the Netherlands and becoming a symbol for the fair trade movement.

Key components of the strategy are:

• 100% Slave-Free: Tony’s Chocolonely is committed to producing chocolate that is 100% slave-free. The company actively works to eliminate child labor and modern slavery from its supply chain and promotes transparency in the cocoa industry.
• Traceability: One of the key elements of Tony’s strategy is achieving full traceability of its cocoa beans. The company traces its supply chain from the farmers to the consumers, ensuring that every step is accountable and transparent.
• Fair Trade Practices: Tony’s Chocolonely ensures that the cocoa farmers receive fair compensation for their work. By adhering to fair trade practices, the company aims to address the economic inequalities in the cocoa industry.
• Advocacy and Collaboration: The company actively engages in advocacy efforts to promote systemic changes in the chocolate industry. Tony’s collaborates with other companies, NGOs, and governmental bodies to address the root causes of exploitation in the cocoa supply chain.
• Consumer Education: Tony’s Chocolonely recognizes the importance of consumer awareness. The company educates consumers about the issues in the chocolate industry and encourages them to make informed choices to support ethical and sustainable practices.

Tony’s Chocolonely  has grown to be the number 1 chocolate brand in the Netherlands. It wants to make people aware of the inequality in the chocolate industry, set the example that chocolate can be made differently and inspire the chocolate industry to make 100% slave free cocoa the norm in chocolate.

The company’s financial performance has been impressive. Ten years ago, the company had a turnover of less than €1 million. Today, they turnover over €100m with a growth rate of 24% and a healthy and growing gross margin of 46%. In the Netherlands, for instance, they occupy over an 8% market share of the chocolate industry, providing ammunition that ‘purpose’ and ‘profit’ can go hand in hand.

The brand has evolved from a small initiative to a globally recognised brand with a mission to create a 100% slave-free chocolate industry. Through its commitment to transparency, fair trade, and advocacy, the company has played a significant role in raising awareness about the challenges in the cocoa supply chain and inspiring positive change in the industry.

Mindera started with the dream of five friends – Paul Evans, Bruno Lopes, Guilherme Almeida, José Fonseca and Sofia Reis. They aspired to create a workplace where the team held more importance than the individual. Their vision was to build a workplace where decisions are made by those impacted most and where people have the autonomy to try out new things, and that embraced lessons learned from failures as integral to the collective growth and success.

Mindera has become that workplace. Since its founding in 2014, the company has rapidly scaled to over 1100 “Minders” (their term for members) today. Despite their rapid growth, not a single middle manager can be found in the firm. They operate as a truly flat, self-managed, non-hierarchical organisation.

Perhaps the best way to capture the unique quirky, human culture of Mindera is to quote from its “about us” story, which starts with socks. Not just any socks, but Paul Smith socks …

“Our story begins in March 2014, with Paul Evans. He was wearing a pair of Paul Smith socks when he realised it was the right time for him to move on from his job.

Paul has never been someone who can simply switch off and now his head was brimming with thoughts. He was 46. He and his wife, Hetal Kurji-Evans, had just bought a new house for their two young children, Rani and Max. It was a really important time.

Paul sat in the shed of his new home’s garden. He thought to himself: “what do I do next?” He realised he had two options: he could take another corporate job or start a new company. One day, surrounded by laughs and a table full of pizza, the conversation between Paul and his four friends — Bruno Lopes, Guilherme Almeida, José Fonseca, and Sofia Reis — turned to the future and how they could all build something amazing together.

Their goal was simple: to work together in a happy place, one not driven by cash but by getting things done right every day.

The seeds were sown for Mindera. But the friends needed clients for the dream to become a reality.

A little while later, Paul was waiting for a flight at an airport. An old friend passed him on the way to the loo. Paul asked: “will you be my first client?”

Then, the beautiful sound of two words: “of course.”

With that, we had our first client.

The founders were based in Portugal and the UK, so it was natural for Mindera’s first offices to be in those countries.

The US business came online in 2015, followed by the UK in 2016, India in 2017, Romania in 2021 and Brazil in 2022.

Dreams aren’t meant to stop. They’re meant to be bigger, to catch all the things that make you smile and inspire you to turn them into a reality.

Part of our dreams has been to create an environment where the team is more important than the individual. To build a place where decisions are made by those impacted most and people have the autonomy to try out new things. A place where the lessons learnt from failures are seen as part of our growth and success.

And what about those Paul Smith socks? Paul never wore them again. He left it to the past and let his dreams guide him into a happier future where with socks or barefoot, our DNA will always remain the same. We’ll be a team of people who care about each other and enjoy working together.”

Mindera is a fascinating business, defined by its culture, captured in its Company Handbook, and also in its purpose, vision, mission and values:

• Purpose: We’re humans. We learn, grow, and have fun working together
• Vision: We are human, we work together, we change
  • We are human – We act like humans, we talk like humans, and we think like humans. And we call out anyone who does the opposite.
  • We work together – We insist on working collaboratively. No rockstars. No departments. The whole team owns the whole project, together.
  • We change – Nothing is sacred. From our habits to our rituals to our environment. Change is a natural part of human life, and we prefer to embrace it.
• Mission: We craft software with people we love.
• Values: Care, autonomy, collaboration and agility.
  • Care – We care about each other and our work
  • Autonomy – We trust people to make things happen
  • Collaboration – We work together as a team
  • Agility – We change and deliver great work

Mindera wanted to create an organisation built around the principles of autonomy, self-management, and collaboration.

“We don’t have job titles,” says Pedro Teixeira, who describes his role as “human engineer” at the company. “Instead of wading through layers of approval and ticking boxes, everyone at Mindera is encouraged to make decisions with the support of mentors and collaborators, not commanders.

Teixeira says this approach makes the business move faster and be more agile. There is no dependence on levels of employees, but on a group of people ready and willing to make things happen. “Our ‘Minders’—how we lovingly refer to employees—like being treated like adults and value our collaborative way of working that values trust over control,” he says.

Mindera still has roles, but they are just a guide. There is also a strong people function that discusses where their employees are, how to support their growth, and who they need to recruit.

“We wanted a model that would give us the flexibility to explore human capabilities outside of a job title,” explains Teixeira. “Without job descriptions, we find people are more likely to take on more responsibility, are able to contribute to other parts of the business, try new things and have new experiences that a long and prescriptive list of responsibilities and expectations simply wouldn’t allow.”

Clear communication across the business, alongside a culture of continuous learning means progression in the company is more about contribution, rather than climbing a corporate ladder.

That said, this method of work is clearly not for everyone. “We choose people carefully,” admits Teixeira, “bringing them in if they align with our principles, have the right technical skills, and can add value to the organisation. If we meet someone we think can add value to Mindera, we bring them on board even if there is not a clear role for them, as that expertise will help grow the business in the long term.”

 

Nongfu Spring was founded by Zhong Shanshan in 1996 in Hangzhou, Zhejiang Province, China. Zhong is now said to be the richest person in China.

The company started as a small local business, primarily focusing on bottled water. Over the years, it has grown to become one of the leading beverage companies in China, gaining a significant market share in the bottled water industry.

Nongfu Spring’s core business revolves around the production and distribution of bottled water and other beverages. The company has diversified its product portfolio to include a range of drinks such as functional beverages, teas, and fruit juices. Nongfu Spring is known for its commitment to providing high-quality and natural products, often emphasizing the purity of its water sources.

The company has strategically positioned itself as a premium brand in the Chinese beverage market. Nongfu Spring’s success can be attributed to its focus on quality, branding, and understanding consumer preferences.

Nongfu Spring’s success can be attributed to several key strategies:

• Quality Focus: Nongfu Spring has built its brand around the perception of offering high-quality and natural products. The company often emphasizes the purity and cleanliness of its water sources, appealing to consumers who prioritize quality in their beverage choices.
• Diversification: While initially known for its bottled water, Nongfu Spring has diversified its product line to include a variety of beverages. This diversification allows the company to cater to a broader consumer base and adapt to changing market trends.
• Branding and Marketing: Nongfu Spring has invested significantly in building a strong brand image. Effective branding and marketing campaigns have helped the company establish itself as a trusted and desirable brand in the Chinese market.
• Distribution Network: The company has developed an extensive distribution network, ensuring its products are widely available across China. This enables Nongfu Spring to reach a large and diverse consumer base.
• Adaptability: Nongfu Spring has shown adaptability to consumer preferences by introducing new products and adjusting its strategies in response to market trends. This flexibility has helped the company stay competitive in the dynamic Chinese beverage industry.

https://www.youtube.com/watch?v=A-F6PGqW5hc

Viettel Group is a Vietnamese multinational telecommunications conglomerate that operates as both a telecommunications service provider and a defense industry enterprise.

It was established in 1989, as the Vietnam Post and Telecommunication Services (VNPT). In 2004, it underwent a transformation and was rebranded as Viettel Group, becoming a military-run enterprise.

Three decades later, Viettel has transformed itself from the leading telecommunications operator in Vietnam to an industrial and technological corporation reaching out to the world, with a promise of being a “caring innovator”.

These are the main business units:

• Telecommunications Services: Viettel is one of the leading telecommunications service providers in Vietnam. It offers a wide range of services, including mobile and fixed-line telephony, broadband internet, digital television, and other data services.
• International Operations: Viettel has expanded its operations internationally and operates in various countries across Asia, Africa, and Latin America. It provides telecommunications services in these regions, contributing to the economic development and connectivity of the countries it operates in.
• Infrastructure Development: Viettel has been involved in the development of telecommunications infrastructure, including the construction of fiber-optic networks, mobile towers, and data centers. This focus on infrastructure development is essential for expanding its service coverage and improving the quality of its offerings.
• Technology Development: As a part of its business strategy, Viettel has invested in technology development, including the deployment of advanced networks like 4G and 5G. This commitment to technological advancement allows the company to stay competitive in the rapidly evolving telecommunications industry.
• Defense Industry: Unique to Viettel is its dual role as a telecommunications company and a defense industry enterprise. It is operated by the Ministry of Defense of Vietnam, and part of its mission is to contribute to the country’s defense capabilities. This integration allows Viettel to leverage synergies between its telecommunications and defense activities.

Viettel’s strategy is built around

• Global Expansion: One of Viettel’s key strategies is global expansion. The company has entered various international markets, especially in developing countries, to provide telecommunications services and contribute to the development of communication infrastructure.
• Competitive Pricing and Value: Viettel often adopts a strategy of offering competitive pricing and value-added services to attract and retain customers. This approach is particularly relevant in markets where price sensitivity is high.
• Technological Innovation: Staying at the forefront of technological innovation is a crucial aspect of Viettel’s strategy. By investing in the latest telecommunications technologies, such as 5G, the company aims to provide cutting-edge services and maintain a competitive edge.
• Social Responsibility: Viettel places an emphasis on social responsibility, contributing to the economic development and connectivity of the regions it serves. This includes providing telecommunications services in remote and underserved areas, supporting education, and participating in community development projects.
• Integration of Defense and Telecommunications: The unique integration of defense and telecommunications allows Viettel to leverage resources and capabilities from both sectors. This integration can contribute to the company’s resilience and its ability to operate in challenging environments.

Latest update

In 2023, Viettel achieved remarkable success in all telecommunications sectors, both domestically and internationally, digital transformation, research and production, as well as logistics. By the end of 2023, Viettel’s consolidated revenue reached 172.5 trillion VND, showing a growth of 5.4%.

Viettel continues to maintain its position as the largest enterprise in the industry.

In 2023, its telecommunications market share increased by 1.64%, maintaining a sustainable leadership position with 56.5%. The company also maintained its number one position in non-mobile services, including fixed broadband (FTTH) with a 43% market share and multi-platform television with 8.6 million subscribers, accounting for 31.2% of the market.

Viettel remains the network with the best service quality in Vietnam according to Umlaut’s assessment and ranks among the top 40 networks worldwide in terms of service quality. 5G services were successfully deployed with around 500 stations in all 63 provinces and cities, and a dedicated 5G mobile network was implemented in practice.

Viettel successfully transitioned 5.8 million 2G subscribers to 4G, surpassing the target by 109% and increasing the 4G subscriber base to 80%. Additionally, the company implemented AI technology to optimize the efficiency of blocking spam messages and calls.

During the year, Viettel also successfully conducted a pilot program for Mobile Money services with approximately 5 million users, with 73% of these users residing in rural, mountainous, remote, border, island areas, aligning with their intended direction.

Viettel launched several new digital platforms that delivered breakthrough results.

After 2 years since its launch, TV360 achieved 10 million regular users, making it the largest television service provider in Vietnam and expanding to international markets.

The Viettel Money digital financial ecosystem leads the rankings on Google Play and Apple Store in Vietnam with over 24 million users, holding a 32% market share in e-wallets and 60% in mobile money.

Leveraging AI technology, Viettel introduced new products including virtual legal assistants, virtual assistants for civil servants, chip-embedded chip verification services for the Ministry of Public Security, and data analysis platforms across 14 provinces nationwide.

In 2023, Viettel also deployed multiple large data center infrastructures in Hanoi and Ho Chi Minh City, contributing to the development of the largest cloud services ecosystem in the country.

Pioneering in the export of telecom and technology services

Viettel’s overseas revenue grew by 20.5%, maintaining high growth for seven consecutive years, surpassing the industry average worldwide by five times. Natcom excelled in Haiti, securing Viettel’s position as the number one telecom provider in six foreign markets, including Natcom in Haiti, Metfone in Cambodia, Unitel in Laos, Mytel in Myanmar, Telemor in East Timor, and Lumitel in Burundi.

Viettel expanded its information security business to four international markets, including Japan, Myanmar, East Timor, and Hong Kong.

The Viettel Digital Finance platform was exported to seven international markets, with some markets achieving high growth rates, such as Mozambique (450%), Laos (244%), Haiti (232%), East Timor (139%), and Burundi (91%).

The completed 5G Private network has export contracts to India, the most populous and technologically advanced country in the world.

Maintaining the position as the most comprehensive digital service provider

Viettel retains its status as the most comprehensive digital ecosystem provider, encompassing six platform areas: digital infrastructure, digital solutions, digital finance, digital content, cyber security, and high-tech production.

Viettel’s digital solutions and services hold the number one market share in healthcare, education, and provincial governance sectors. The digital healthcare ecosystem connects 30 million health records, the digital education solutions serve 4 million students, and the Intelligent Operations Center (IOC) operates in 35 provinces and municipalities.

Viettel remains the core force for ensuring network security and cyber security with a 58% SOC market share, asserting itself as the number one provider of ATTT services in Vietnam. Notably, Viettel’s team won the championship at the world’s largest cyber attack competition, Pwn2Own Toronto 2023.

Mastering 5G chip research and production

Viettel has successfully conducted research, production, and widespread testing of the 5G product ecosystem, both in hardware and software, placing Vietnam among the top five countries to master 5G technology. Viettel has announced the successful research of the 5G DFE chip, the most complex component of the 5G ecosystem, capable of performing up to 1,000 trillion calculations per second. This marks a breakthrough in Vietnam’s semiconductor industry. Test results have shown that Viettel’s 5G devices meet technical standards equivalent to those of many global providers.

Breakthrough growth in the logistics sector

Viettel Post achieved its highest growth rate in five years, with the core delivery sector growing by 31%, nearly four times the industry average growth. To explore new opportunities, Viettel Post has initiated the construction of a multi-modal transportation link connecting China, Vietnam, and ASEAN. The company also participated in the development of the latest smart border gate project in Vietnam.

Participating in the conference and hearing the report on Viettel’s 2023 results, Nguyen Manh Hung, Member of the Party Central Committee and Minister of Information and Communications, acknowledged that in the context of the industry’s common difficulties, Viettel’s 5.4% growth and 20.5% international telecommunications growth were impressive. Viettel has been highly successful in telecommunications and high-tech industry research and production. The Minister emphasized Viettel’s role: “Viettel must become a global technology conglomerate, actively participating in digital and green transformations. Viettel should create technologies and platforms for others to innovate and create products and services for society.”

Under the leadership of the Ministry of Information and Communications, Lieutenant General Tao Duc Thang, Chairman and CEO of the Group, has issued challenging tasks for each unit within the organization while reaffirming, “What we have achieved together in 2023 has added strength, a great source of motivation for Viettel to reach new heights in 2024.”

In 2024, Viettel aims to achieve a 7.2% increase in total group revenue, further improve foreign investment efficiency with a capital return rate of 84%, ensure 4G coverage equivalent to 2G, transition all 2G subscribers to 4G by September 2024, maintain the number one position in data center and cloud market share, expand the provision of cyber security services internationally, deploy extensive AI solutions, implement Digital Twins solutions for smart city management, officially announce the 5G device ecosystem produced by Viettel, expand the green energy product line, provide end-to-end solutions for cross-border logistics, and establish a cross-border railway transportation route between Vietnam and China.

Wuliangye is a Chinese company that specializes in the production of Baijiu, a traditional Chinese distilled alcoholic beverage. The company is best known for its flagship product, Wuliangye, which is one of the most popular and prestigious Baijiu brands in China.

The Chinese brand, formally known as Yibin Wuliangye Group Co., Ltd., was established in 1980 in Yibin City, Sichuan Province, China. The company’s roots, however, trace back to the Ming Dynasty (1368–1644) when the Wuliangye brand was first created. The modern incarnation of Wuliangye emerged during the economic reforms of the late 20th century.

It primarily engages in the production and sale of Baijiu, a distilled spirit with a strong cultural and historical significance in China. Baijiu is often consumed during important social and business occasions.

Wuliangye’s product portfolio includes various types of Baijiu, with the flagship Wuliangye brand being its most well-known and prestigious offering. The company has established a strong market presence in China, where the demand for high-quality Baijiu remains robust. In addition to the domestic market, Wuliangye has also expanded its international presence, targeting consumers interested in Chinese spirits globally.

Wuliangye’s strategy is built around

• Premium Positioning: Wuliangye has positioned itself as a premium Baijiu brand, emphasizing the quality and craftsmanship of its products. This positioning has allowed the company to cater to the high-end consumer segment and command premium prices for its spirits.
• Brand Building: Wuliangye has invested significantly in building and promoting its brand. The company leverages its long history and cultural significance to create a sense of tradition and authenticity around its products. Marketing efforts often focus on the heritage and craftsmanship associated with the Wuliangye brand.
• Product Diversification: While the Wuliangye brand remains the flagship, the company has diversified its product portfolio to cater to different consumer preferences and market segments. This includes the development of new Baijiu varieties to appeal to a broader range of consumers.
• International Expansion: Recognizing the global interest in diverse alcoholic beverages, Wuliangye has pursued international expansion. The company aims to introduce its Baijiu products to a wider audience, capitalizing on the growing curiosity about traditional Chinese spirits outside of China.
• Strategic Partnerships: Wuliangye has formed strategic partnerships and collaborations to strengthen its position in the market. This may include distribution agreements, joint ventures, or collaborations with other companies in the beverage industry.

OpenAI was founded in December 2015 with the goal of advancing artificial intelligence (AI) in a way that benefits all of humanity. The organization was established as a non-profit with the mission of conducting research in the field of AI and promoting the development of safe and beneficial AI technologies.

OpenAI’s initial team included notable figures in the tech and AI community, such as Elon Musk, Sam Altman, Greg Brockman, Ilya Sutskever, and others. The organization’s focus was on addressing the potential risks associated with powerful AI systems and ensuring that the benefits of AI were distributed broadly.

In 2019, OpenAI transitioned to a for-profit model with the creation of a new entity called OpenAI LP. The shift in structure allowed OpenAI to secure additional funding and partnerships to accelerate its research and development efforts. However, the commitment to long-term safety and broad benefits for humanity remained central to OpenAI’s mission.

Over the years, OpenAI has achieved significant milestones in AI research, with projects like GPT-3 (Generative Pre-trained Transformer 3) showcasing the capabilities of large language models. These models, including the one you’re talking to right now, have applications in natural language processing, text generation, and various other AI tasks.

 

OpenAI’s strategy revolves around three key principles:

• Broadly Distributed Benefits: OpenAI is committed to ensuring that the benefits of artificial general intelligence (AGI) are shared with all of humanity. The organization aims to avoid enabling uses of AI or AGI that could harm humanity or concentrate power in a way that harms the broader population.
• Long-Term Safety: OpenAI recognizes the potential risks associated with the development of powerful AI systems. The organization is dedicated to conducting research to make AGI safe and promoting the widespread adoption of safety measures across the AI community. OpenAI actively cooperates with other research and policy institutions to address global challenges related to AGI safety.
• Technical Leadership: To effectively address AGI’s impact on society, OpenAI believes in being at the cutting edge of AI capabilities. By maintaining technical leadership, OpenAI aims to be in a position to effectively address AGI’s societal impact and contribute valuable insights and guidance.

The transition from a non-profit to a for-profit model in 2019 was driven by the need for increased resources and funding to pursue these strategic goals effectively. OpenAI collaborates with other research and policy institutions, shares research findings, and engages in initiatives that align with its mission of ensuring AGI benefits all of humanity.

A year after the launch of ChatGPT, in November 2023, OpenAI imploded. The board dismissed CEO Sam Altman without explanation. The business was in free fall, and almost every employee signed a petition demanding his return. Meanwhile key investor Microsoft started exploring bring Altman and most of his team in-house. However with 4 days, the entire OpenAI board resigned, and Altman was back as CEO again.

A month later, Time magazine made him CEO of the year:

Nubank is a leading Brazilian neobank, or fintech business, recognised for its innovative and customer-centric approach to banking services.

Nubank was founded in 2013 by David Vélez, Cristina Junqueira, and Edward Wible in São Paulo, Brazil. The founders aimed to challenge the traditional banking model by providing a more transparent, accessible, and customer-friendly alternative.

Its first product was a credit card that differentiated itself by not charging traditional fees, such as annual fees or over-limit fees. The credit card application process was entirely digital, allowing customers to apply and manage their accounts through a mobile app.

Over the years, Nubank expanded its product offerings beyond credit cards. It introduced a digital savings account (NuConta) in 2017, offering a simple and fee-free savings experience. Additionally, the company introduced personal loans and other financial products to cater to a broader range of financial needs.

Nubank achieved “unicorn” status in 2018, reaching a valuation of over $1 billion. The company’s success was driven by its customer-centric approach, digital focus, and the popularity of its products in a market where traditional banking services often came with high fees and bureaucracy.

Nubank expanded its operations beyond Brazil, targeting other Latin American markets. The company ventured into Mexico in 2019, marking its first international presence. The expansion aimed to replicate Nubank’s success in providing accessible and user-friendly financial services.

In 2021, Nubank filed for an initial public offering (IPO), marking a significant milestone for the company. The IPO was closely watched, as Nubank continued to disrupt the traditional banking industry and attract a large customer base.

Nubank’s story is characterized by its commitment to simplicity, transparency, and customer empowerment in the financial services sector. It has gained popularity for challenging the status quo and offering innovative solutions to meet the evolving needs of consumers in the digital age.

Nubank’s strategy revolves around challenging traditional banking models by providing a customer-centric, transparent, and digital banking experience. Here are some key elements of Nubank’s strategy:

• Digital-First Approach: Nubank is built on a digital-first model, allowing customers to access and manage their financial products entirely through a mobile app or website. This approach eliminates the need for physical branches and paperwork, offering a more convenient and efficient banking experience.
• Customer-Centricity: Nubank places a strong emphasis on customer satisfaction and aims to address pain points commonly associated with traditional banking, such as hidden fees, complex processes, and poor customer service. The company focuses on simplicity, transparency, and responsiveness to customer needs.
• Fee-Free Banking: Nubank initially gained attention by offering a credit card with no annual fees, over-limit fees, or other traditional charges. This fee-free model was extended to other products, including savings accounts and personal loans, creating a more attractive value proposition for customers.
• Product Diversification: While Nubank started with a credit card, the company has expanded its product portfolio to include digital savings accounts (NuConta), personal loans, and other financial services. This diversification allows Nubank to cater to a broader range of financial needs for its customer base.
• Innovation and Technology: Nubank invests heavily in technology and innovation to enhance its products and services continually. The company leverages data analytics and machine learning to provide personalized financial solutions, improve risk assessment, and streamline processes.
• International Expansion: Nubank has pursued international expansion, starting with its entry into the Mexican market. The company aims to replicate its success in other Latin American countries, bringing its customer-centric approach to a broader audience.
• Financial Inclusion: Nubank has a commitment to financial inclusion, targeting underserved populations and providing them with access to essential financial services. The digital nature of Nubank’s offerings makes it more accessible to individuals who may have limited access to traditional banking infrastructure.
• Transparency and Education: Nubank prioritizes transparency in its communication with customers, ensuring that users understand the terms and conditions of their financial products. The company also focuses on financial education, providing resources to help customers make informed financial decisions.

Nubank’s strategy revolves around disrupting the traditional banking landscape by leveraging technology, prioritizing customer satisfaction, and offering a range of fee-free and accessible financial products. The success of this strategy is evident in Nubank’s rapid growth and popularity among consumers in the markets it serves.

EssilorLuxottica is a multinational eyewear company that was formed through the merger of two major players in the eyewear industry: Essilor and Luxottica.

Essilor, founded in 1972, was a French company specializing in the manufacturing of ophthalmic lenses. It became a leading player in the global eyewear industry, focusing on providing innovative lens solutions to improve and protect eyesight.

Luxottica, founded in 1961, was an Italian company created by Leonardo Del Vecchio. Luxottica initially started as a small eyewear component manufacturer and later expanded into the design, manufacturing, and distribution of eyewear frames. Luxottica became well-known for owning popular eyewear brands like Ray-Ban, Oakley, and Persol, and for its retail chains such as LensCrafters and Sunglass Hut.

In 2017, Essilor and Luxottica announced their merger, creating EssilorLuxottica. The merger aimed to combine Essilor’s expertise in lens manufacturing with Luxottica’s strength in eyewear frames and retail. However, the merger faced some challenges, including corporate governance issues and power struggles between key stakeholders.

Despite these challenges, EssilorLuxottica continued to be a major player in the eyewear industry, controlling a significant portion of the market. The company’s focus remained on providing a comprehensive range of eyewear products, from lenses to frames, and maintaining a strong presence in both manufacturing and retail.

EssilorLuxottica’s strategy revolves around being a vertically integrated company that covers various aspects of the eyewear industry, from lens manufacturing to frame design and retail distribution. Here are some key elements of their strategy:

1. Vertical Integration: The company aims to control the entire value chain of the eyewear industry. By merging Essilor’s expertise in lens manufacturing with Luxottica’s strength in designing frames and owning popular eyewear brands, EssilorLuxottica can offer a comprehensive range of eyewear products.
2. Brand Portfolio: EssilorLuxottica owns a diverse portfolio of eyewear brands, including well-known names like Ray-Ban, Oakley, Persol, and Vogue. This allows the company to cater to different market segments and consumer preferences.
3. Innovation: As a leader in the industry, EssilorLuxottica focuses on innovation in both lens technology and frame design. The company invests in research and development to bring new and advanced products to the market, with a particular emphasis on improving vision quality and addressing specific eye care needs.
4. Retail Presence: EssilorLuxottica has a significant retail presence through its own stores and partnerships with other retailers. This includes optical retail chains like LensCrafters and Sunglass Hut. This retail strategy enables the company to directly reach consumers and showcase its diverse range of eyewear products.
5. Global Reach: The company has a strong global presence, allowing it to tap into various markets and demographics. This global reach is crucial for expanding its customer base and adapting to regional preferences and trends.
6. Digital Transformation: Like many industries, the eyewear sector is undergoing a digital transformation. EssilorLuxottica invests in digital technologies to enhance the customer experience, whether through online retail channels, virtual try-on tools, or other digital innovations in the eyewear space.
7. Corporate Social Responsibility (CSR): EssilorLuxottica places importance on CSR initiatives, including sustainable practices in manufacturing and a commitment to social responsibility. This aligns with the growing consumer demand for socially and environmentally responsible business practices.