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Jeffrey Towson 陶迅

Consultant, investor, and keynote speaker on digital strategy

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Jeffrey Towson Berkshire 2019

Published May 13, 2019 at 2560 × 1923 in My Notes From the 2019 Berkshire Hathaway Annual Meeting (Pt 2 of 3)
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Categories

  • 4 Terrains and Strategies (BCG): Predictable vs. Malleable
  • 6 Levels of Digital Competition
  • 7 Powers
  • 9 Questions
  • 99
  • AB InBev
  • Access vs. Owner Businesses
  • Activist Investing (Ques 5)
  • Adaptation and Resilience
  • Adobe Inc.
  • Africa
  • AI – Cheap and Fast Prediction
  • AI Service Business Model
  • Airbnb
  • AIVA
  • Alibaba
  • Alibaba Cloud
  • Alibaba Global Leadership Academy
  • Alibaba Health
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  • AliExpress
  • Amazon
  • Android
  • Ane Logistics
  • Ant Group / Ant Financial / Alipay / Alipay+
  • Apple
  • Arms Race for Consumer Attention and Retention
  • Artificial Intelligence
  • AT&T
  • Audius
  • Auto
  • Azure
  • B2B Customer View: Necessary vs. Critical vs. Strategic
  • B2C Customer View: Shareability
  • Baidu
  • Baidu Cloud
  • Bandwagon Effect
  • Baozun
  • Bargaining Power with Suppliers / Purchasing Economies
  • Barnes and Noble
  • Barriers to Entry and Soft Advantages
  • Belle
  • Ben Graham
  • Bic
  • Bilibili
  • Bird in Hand vs. Bush
  • Bitcoin
  • Blockchain
  • Bluegogo
  • Borsheims
  • Boss Zhipin / Kanzhun
  • Brazil
  • Bundling, Subscriptions and Cross-Selling
  • ByteDance
  • Cainiao
  • Capabilities
  • Capacity to Suffer
  • Carl Icahn / Icahn Enterprises
  • Carlsberg Beer
  • Catalysts (Ques 5)
  • Central Group
  • ChatGPT
  • Cheah Cheng Hye / Value Partners
  • China
  • China Digital Consumer Network
  • China Literature
  • Cloud Services
  • Cocos
  • Coinbase
  • Combinatorial Innovation
  • Common Pricing Strategies
  • Community Group Buying
  • Company Ecosystems
  • Company Quality, Industry, and Terrain (Ques 1-2)
  • Competitive Advantage
  • Competitive Fortress
  • Complementary Platforms
  • Complements
  • Complicated Network Effects
  • Composability
  • Compounding
  • Computer Vision
  • Concepts
  • Confluent
  • Consumer Packaged Goods (CPG)
  • Coordination and Transaction Costs
  • Core Competency
  • Cost of Capital and Hurdle Rates
  • Cost, Timing and/or Difficulty of Entry
  • Costco
  • Counter-Positioning
  • Coupang
  • Ctrip
  • CVS Health
  • Daily Journal
  • DALL-E
  • DAOs / Web3
  • Data Ecosystems
  • Data Intelligence
  • Data Network Effect vs. Data Advantage
  • Data visibility and analytics
  • Delivery Hero / Foodpanda
  • Demand Purification
  • DHL
  • Didi
  • Digital and Information Economics
  • Digital Operating Basics
  • Digital Playbook – Standard
  • Digital Superpower: Composability at Global Scale
  • Digital Superpower: Dramatically Improve the User Experience
  • Digital Superpower: Enable a Platform
  • Digital Superpower: Network Effects
  • Digital Superpower: Other Competitive Advantage
  • Digital Superpower: Scalability
  • Digital Superpower: Virality
  • Digital Superpowers
  • Digital Transformation
  • Digital Valuation
  • Digital-Physical Hybrids
  • Dingdong
  • DingTalk
  • Direct Network Effects
  • Dirty Tricks
  • Discount Rates
  • Discounted Cash Flow
  • Disney
  • Disruption
  • Distribution Network Density
  • DJI
  • DOB1: Rapid Growth at Low Cost without Constraints
  • DOB2: Never ending Personalization and User Improvements
  • DOB3: Digital Core for Management and Operations
  • DOB4: Connectedness Interoperability and Collaboration Based Business Models
  • DOB5: Leadership and Management
  • DOB6: People Culture and Teams
  • DOB7: Sustainable Cash Engine that Scales
  • Dominant Design and Architectural vs. Component Innovation
  • Ecommerce
  • Ecommerce: Interactive and Engagement-Focused
  • Ecommerce: Specialty
  • Economies of Scale and Scope
  • Ecosystem Orchestrator CF2
  • Ecosystems vs. Platforms
  • Education
  • Electronic Arts
  • Embedding
  • Engagement and Spending
  • Engagement Products vs. Margin Products
  • Enterprise B2B
  • Epic Games
  • Ethereum
  • Etsy
  • Expedia
  • External vs. Internal View
  • Facebook Meta
  • Farfetch
  • Fashion
  • Fast Moving Consumer Goods (FMCG)
  • Fastscaling vs. Blizscaling
  • Fedex
  • Financial Services
  • First Mover Advantages and Disadvantages
  • Five Forces
  • Fiverr
  • Fixed Operating and Capital Costs
  • Fliggy
  • Foxconn
  • Franchised Networks
  • Freshippo
  • Full Truck Alliance
  • Gaming and Game Engines
  • General Electric (GE)
  • Generative AI – Cheap and Fast Content Creation
  • Geographic Density
  • Giant
  • Giants Dwarves and the State
  • Google
  • Google Maps
  • Google Search
  • GoTo Gojek Tokopedia
  • Government Advantages
  • Grab
  • Gree
  • Growth Hacks
  • Growth Plus Sales
  • Growth ROIC / RONIC and Value
  • Growth: Core vs. Adjacency
  • Growth: Explore vs. Exploit
  • Haier
  • HarmonyOS
  • Healthcare
  • Hello Bike
  • HeyTea
  • Hierarchies of Control
  • Hillhouse Capital / Zhang Lei
  • HiSilicon
  • HTC
  • Huawei
  • Huya
  • iflytek
  • iFood
  • Increasing Returns to Tech Adoption
  • Indirect Network Effects
  • Indonesia
  • Industrial Internet / IIoT
  • Influencers and KOLs
  • Innovation
  • Input Cost and Constraints
  • Insta360 / Arashi Vision
  • Intangible Assets
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  • Intelligent Logistics IoT Network
  • Intersport
  • Intime
  • Introverts
  • iQiyi
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  • JD
  • JD Central Thailand
  • JD Health
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  • Jingxi
  • Jobs To Be Done
  • Jorge Lemann / 3G Capital
  • Joy Spreader
  • Juhuasuan
  • Jumia / Jumia Food
  • KE Holdings / Beike / Lianjia
  • Keith Meister / Corvex
  • KFC / Yum!
  • Kingsoft Cloud
  • Kroger
  • Kuaishou
  • LAIX Liulishuo
  • Latin America
  • Lazada
  • Learning Curve and Experience Effect
  • Learning Goals
  • Lexica
  • Linked Businesses
  • Live Streaming
  • Local Network Effects
  • Location or Transportation Cost Advantage
  • Logistics
  • Luckin Coffee
  • Luxury
  • Magazine Luiza / Magalu
  • Majid Al Futtaim
  • Management Track Record and Incentives
  • Margin of Safety (Ques 3)
  • Mario Gabelli / GAMCO
  • Masayoshi Son / SoftBank Group
  • McDonalds
  • McKinsey & Co
  • Meaningfully Differentiated Technology
  • Medallia
  • Megvii
  • Meitu
  • Meituan
  • Member Content
  • Mercado Libre
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  • Metcalfe's Idea
  • Microsoft
  • Midjourney
  • Mini Programs
  • Mini-Programs
  • Minimum Efficient Scale
  • Mismatched and/or Crippled Scale
  • Mobike
  • Money Wars
  • Monster Energy
  • Motorola
  • Multihoming
  • Naver Corp / Line Messenger
  • NBA
  • Nebraska Furniture Mart
  • Neeva
  • NetEase
  • Netflix
  • Network Effect: Critical Mass and Chicken and Egg
  • Network Effect: Interaction Failure at Scale
  • Network Effect: Leaky Bucket and Multihoming
  • Network Effects
  • Network Effects
  • Networks vs. Platforms vs. Network Effects
  • New Manufacturing
  • New Oriental Education
  • New Retail – OMO
  • nfx / James Courrier
  • Nike
  • Nio
  • NLP
  • Non-Rivalry and Zero Marginal Production Costs
  • Nubank
  • Ofo
  • OMO Platforms
  • One Hour China
  • Online Gaming
  • Online Merge Offline (OMO)
  • OnlyFans
  • Open Source
  • OpenAI
  • Operating Leverage
  • Operating Performance: Smarter Faster Better
  • Oriental Trading Co
  • Oxford Health
  • Ozon Holdings
  • Pacific Prime
  • Path Dependency
  • Perfect Diary / Yatsen
  • Personalization at Scale
  • Philip Fisher
  • Physical Networks
  • Pinduoduo
  • Ping An
  • Ping An Good Doctor
  • Pipeline Plus Platform Business Model
  • Pizza Hut / Yum!
  • Platform Business Models
  • Platform Types: Audience Builders
  • Platform Types: Coordination, Collaboration and Standardization
  • Platform Types: Innovation
  • Platform Types: Learning
  • Platform Types: Market Networks
  • Platform Types: Marketplaces for Products and Services
  • Platform Types: Payment
  • Platform-Protocol Hybrids / Web3
  • Points of control
  • Pop Mart
  • Price Discrimination
  • Pricing and Switching Costs
  • Prince Alwaleed and Kingdom Holding
  • Private Market Value (PMV)
  • Production and Consumption Ecosystems
  • Protocol Ecosystems (building blocks)
  • Protocol Networks
  • Protocol Networks (blockchain) with property rights
  • Public Copy of Membership Content
  • Qumei
  • Rate of Learning and Process Cost Advantages
  • Real Estate
  • Red Hat
  • Regression to the Mean / Base Rates
  • Resources and Assets (CRAs)
  • Resources Based Competition
  • Retail
  • Revenue Scale and Growth
  • Reverse Network Effects
  • Roblox
  • Role of the State
  • Ruhnn Holding
  • Rumble
  • Runway
  • S-Curves for Tech Performance vs. Tech Diffusion
  • Sanborn Map Company
  • Scale Advantages and Disadvantages
  • Scale Disadvantages
  • Scarce or Cornered Resource
  • Sea Limited / Garena / Shopee / SeaMoney
  • Search Engines
  • Searching Costs
  • Secoo
  • SenseTime
  • Services
  • Seth Klarman / Baupost
  • SF Express
  • SFX
  • Share of the Consumer Mind
  • Shein
  • Singapore Press Holdings
  • Skillz
  • Smartphones
  • SMILE Marathon
  • SMILE Marathon: Ecosystem / Platform Orchestration and Participation
  • SMILE Marathon: Hyper-Scale and/or Hyper-Growth
  • SMILE Marathon: Machine Learning, AI Factories and Zero-Human Operations
  • SMILE Marathon: Rate of Learning and Adaptation
  • SMILE Marathon: Sustained Innovation
  • Snowflake
  • So-Young International
  • Social Capital
  • Social Media
  • Social media
  • Sogou
  • Southeast Asia
  • Southwest Airlines
  • Speaking
  • Specialty
  • Spotify
  • Square
  • Standardization and Interoperability Network Effects
  • Starbucks
  • Steam / Valve
  • Stone Company
  • Substitutes
  • Sun Art Retail
  • Suning
  • Suntech
  • Supply Demand Imbalance
  • Surplus Margin Leader
  • Switching Costs
  • Synthesia
  • Taco Bell / Yum!
  • Tactics
  • Tal Education
  • Taobao Education
  • Tech and IP Cost and Supply Advantages
  • Tencent
  • Tesla
  • Thailand
  • The Power of Cheap and Free
  • Theory of the Firm
  • Thomas Russo
  • Threat of New Entrants
  • Tiktok / Douyin
  • Tmall / Taobao
  • Token economics
  • Tokens / Web3
  • Topsport
  • Toutiao
  • Turn-Arounds (Ques 4)
  • Tuya
  • Twitter
  • Uber
  • Uncategorized
  • Uncertainty Investing Approaches
  • Uniswap
  • Unity
  • Valuation (Question 3)
  • Value creation vs distribution
  • Value Point / Surgical Value Add (Question 7)
  • Vanke
  • Versioning and Pricing
  • Vipshop
  • Vulcan Materials
  • Wabco
  • Walgreens
  • Walmart
  • Warren Buffett / Berkshire Hathaway
  • Waterdrop Insurance
  • Waze
  • Web3
  • WeChat
  • Wellsaidlabs
  • Whatsapp
  • Who is Selling and Why? (Question 4)
  • Willingness to Pay and Consumer Surplus
  • Word of Mouth and Virality
  • Worst Case Scenario (Question 9)
  • Writing
  • Xiaomi
  • Xunxi
  • Yiren Digital
  • Youku Tudou
  • YouTube
  • YTO
  • Ze Delivery
  • Zhaopin
  • Zhihu
  • ZhongAn Insurance
  • Zoom
  • ZTO

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    • Alwaleed, Khaled and Mohammed Book
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