Economies of scale as a phenomenon goes back to Adam Smith, so it is, unsurprisingly, often described in industrial terms. It is the phenomenon where …Read More »

I’ve been arguing that digital strategy is mostly about developing expertise in 4 areas. Digital economics Platform business models AI and machine learning Blockchain Each …Read More »

CA9: Scarce or Cornered Resources is a rare and quirky type of competitive advantages. It is a cost and supply advantage. You can see it …Read More »

This week’s podcast is about the human capital part of the digital operating basics. Specifically, DOB5: Leadership and management and DOB6: People, Culture and Teams. …Read More »

In Part 1, I went through two strategy concepts for web3. Protocol Networks (i.e., Blockchains) with Property Rights Composability (i.e., Building Blocks) at Global Scale …Read More »

Everyone describes their initial look at blockchain and web3 as “going down the rabbit hole”. It starts simply with Bitcoin and cryptocurrency. Then they go …Read More »

This week’s podcast is about web3 strategy and business models. It’s a big confusing and still evolving space. But I think there are 5 really important …Read More »

This week’s podcast is about Walgreens and Ping An Good Doctor. Both are using digital tools to create entirely new business models in healthcare. And …Read More »

I’ve been thinking about Luckin Coffee, which was a big story a few years ago in China. It was a digital upstart taking on giant …Read More »

Think about the value proposition of a Walmart superstore. Most everything a customer needs is in the store and easy to find. Yes, Walmart is …Read More »

This week’s podcast is about rate of learning as a concept. That is the digital version of what was originally called the learning curve and …Read More »

For those of you reading Moats and Marathons, I have been slowly laying out the key competitive advantages for digital businesses. And this is really …Read More »

This week’s podcast is about Xiaomi and ongoing strategy changes and moves. This is a good case for my 6 levels of digital competition. It …Read More »

This week’s podcast is about Alipay+, which is Ant’s new international payment initiative. But it is also about the return of Ant Group after 2 …Read More »

A few years ago, I wrote about how Alibaba.com was launching an ambitious global platform strategy around B2B cross-border transactions. Alibaba.com was attempting to build …Read More »

This week’s podcast is about GE and their big digital transformation initiative from 2011-2018. However, I am not a GE expert by any stretch. I …Read More »

My standard question is: What is the quality of the business? I go through lots of checklists for this. It generally takes me 40 pages …Read More »

We are a couple of years into the epic (pun intended) fight between Apple and Epic Games over the App Store. This is really the …Read More »

I’ve mentioned externalizing capabilities as a strategic move many times. I thought I would detail that out. It’s common strategy in digital business models. And …Read More »

I’ve talked a lot about why KOLs and influencers are so important in a connected world. Live streaming and short video are currently the big …Read More »

This week’s podcast is about Elon Musk’s attempted purchase of Twitter. But it is really about how the control and curation of information flows how …Read More »

In Parts 1 and 2, I wrote about how digital infrastructure is being developed in Thailand, which is a good proxy for digital infrastructure SE …Read More »

In Part 1 and a podcast, I covered the history of Huawei in Thailand and my interview with Huawei Thailand CEO Abel Deng. In this part, …Read More »

This week’s podcast is about digital disruption. It’s a big and difficult topic for management teams. And it usually leads to discussion about innovation. Here …Read More »

Use cases are a good way to approach the subject of AI. Just hunt industry by industry and see what companies are using AI for …Read More »

I have one B2C “super chart”. It’s a bit ridiculous but stick with me. I think it is actually a good prediction of the future …Read More »

In Part 1, I argued that Amazon’s ecommerce business was getting stronger over time (in terms of competitive strength). It has an impressive series of …Read More »

This week’s podcast is about Amazon’s competitive advantages. We can see clearly growing moats in ecommerce. But increasing competition is revealing the lack of defenses …Read More »

I’ve discussed Amazon’s basic business model in an article and podcast. What Amazon Should Copy from Alibaba and Pinduoduo (Tech Strategy – Podcast 124) Why …Read More »

For the past five years, I’ve been watching Alibaba pull farther and farther ahead of Amazon in its consumer offerings. Alibaba’s ecommerce products have integrated …Read More »

This week’s podcast is about Amazon vs. Alibaba and Pinduoduo. There are some important strategy differences between the ecommerce leaders of the US and China. …Read More »

I break competitive advantages into those on the demand-side and those on the cost / supply-side. Plus government-granted advantages. It results in a list of …Read More »

In Part 1, I laid out some basic theory about marketplace platforms for services, which is a fascinating interesting subject. And it is much more …Read More »

This week’s podcast is newly public GoTo, which is an interesting business model combining a platform for products (Tokopedia) with one for services (Gojek). You …Read More »

The recently merged Gojek and Tokopedia (i.e., GoTo) has gone public in Indonesia. And I finally got a look at their filings (thanks to a …Read More »

A quick recap. I have broken moats (i.e., structural advantages) into three levels. I wrote some recent articles on Barriers to Entry and Soft Advantages: …Read More »

This week’s podcast is about combining two previously covered topics: growth and the digital operating basics. This can be surprisingly powerful. You can listen to …Read More »

In Part 1, I went through the basics of newly public Grab. It’s one of the first tech unicorns of Southeast and it’s an interesting …Read More »

Huawei has just announced its 2021 financial results, with the title “Solid Operations, Investing in the Future”. That is actually a pretty good summary of …Read More »

This week’s podcast is about Southeast Asian tech giant Grab, its impressive execution and its chronic unprofitability: You can listen to this podcast here or …Read More »

Southeast Asia unicorn Grab is now public via a SPAC merger with Altimeter Growth Corp. The company trades on the Nasdaq under the ticker symbol …Read More »

In the past 3-4 months, Sea Limited stock price has fallen from $350 to $90 per share. That is interesting. The business model is as …Read More »

This week’s podcast is about how web 3.0 is creating three types of marketplaces: Digital platforms (web 2.0), such as a Taobao Platform-protocol hybrids, such …Read More »

In Part 1, I did a quick summary of the strange mix of ideas that is “web 3.0”. Blockchain, a new technology paradigm. Decentralization, which moves …Read More »

There is a lot of talk about how web 3.0, which is about protocol networks, is going to disrupt web 2.0, which is about platform …Read More »

This week’s podcast is about customer capture as a competitive advantage. And how digital is really changing this type of moat. You can listen to …Read More »

Traditionally, revenue and demand-side advantages are described as “customer captivity”. It shows up as a company that gets higher pricing and/or more repeat purchases from …Read More »

This week’s podcast is about Nike in China. But it really about how you win as a participant in large platform businesses in ecommerce and …Read More »

In Part 1 and Part 2, I laid out my approach to web 3.0 business models. These are sometimes called “decentralized platforms”. Or “protocols”. I …Read More »

Digital economics are just very strange. As soon as a service or business becomes infused with software and data technology, the economics start to change …Read More »

This week’s podcast is about web 3.0. I view most successful web 3.0 companies like Coinbase as platform-protocol hybrids. You can listen to this podcast …Read More »

In Part 1, I did a quick summary of the strange mix of ideas that is “web 3.0”. Blockchain, a new technology paradigm that will …Read More »

Right now, the venture capital types are all talking about “web 3.0”. Very big names are arguing that this is the big new tech paradigm. …Read More »

This week’s podcast is about Nubank, Brazil’s rapidly rising digital bank. You can listen to this podcast here or at iTunes and Google Podcasts. Here is my …Read More »

In Part 1, I went through the basics of Nubank, which is building a digital bank in Latin America. And you can make an analogy …Read More »

A few months ago, I wrote about Stone Co, which is one of the new digital natives rising in Latin America. My thinking on Stone …Read More »

This week’s podcast is about Barriers to Entry, which is one of my 6 levels of competition. You can listen to this podcast here or …Read More »

In Part 1, I detailed some of the basics of SenseTime, China’s leading computer vision company. I argued it was basically a linear business model, …Read More »

In Part 1, I discussed Snowflake and its compelling business model for a “data ecosystem”. I argued it was a collaboration (CCS) platform based on …Read More »

This week’s podcast is about SenseTime, which is a leader in computer vision in China / Asia. It’s a fascinating company for looking at the …Read More »

In Part 1, I detailed some of the basics of SenseTime, China’s leading computer vision company. And I argued it was basically a linear business …Read More »

Chinese computer vision company SenseTime has finally gone public. This was after years of setback after setback, including being placed on the US Treasury Department’s …Read More »

This week’s podcast is about my discussion with Abel Deng, the CEO of Huawei Thailand. And about how the next generation of digital infrastructure is …Read More »

Last week, I went to the Huawei headquarters in Bangkok and interviewed Thailand CEO Abel Deng. It was a fascinating discussion and it really got …Read More »

I have broken moats and structural advantages into three levels: Competitive Fortresses. This is the highest level and quite rare. The symbol I use is …Read More »

This week’s podcast is about Snowflake and Confluent. But the main topic is how to think about coordination, collaboration and standardization (CCS) platform business models. …Read More »

I recently wrote quite a bit about Snowflake – and their strategy for building a “data ecosystem”. It’s a big idea and my explanation was …Read More »

In Part 1, I laid out how to think about physical networks. For logistics, that means lots of warehouses and trucks doing various routes between …Read More »

This week’s podcast is about the external view and the importance of base rates. Berkshire-invested Kroger supermarkets is a good example of a company that …Read More »

Ok. Let me see if I can impress you today. In Part 1, I wrote about ANE Logistics, an interesting Chinese company. But I really …Read More »

Logistics in China / Asia has been on my short list for a long time. There is a lot to like about this space. Logistics …Read More »

This week’s podcast is about ANE Logistics, which is a compelling business model for digitizing and consolidating less than truckload logistics in China. You can …Read More »

So much of the discussion about enterprise software and services is about the giants who dominate. Think Microsoft, Salesforce, etc. But what about the smaller, …Read More »

In Part 2, I laid out the story of Stone Company, a Brazilian digital native that is building out payment, financial and enterprise services for …Read More »

This week’s podcast is Brazilian Stone Company (STNE), the Berkshire Hathaway-invested payment platform that has fallen in share price by +80%. You can listen to …Read More »

Stone Co is a Brazilian company that is attempting to build a payment and financial services suite for merchants in +5,000 cities. And they are …Read More »

Stone Company in Brazil is a really interesting contrast to Ant Financial in China. And to Square in the USA. All three companies are somewhat …Read More »

This week’s podcast is about how to assess specialty companies within enterprise software and services. And about Tuya, which an interesting example of a specialty …Read More »

This is the big hole in everything I have laid out over the past +700 articles and +100 podcasts. How do you identify cultures and …Read More »

B2B and enterprise software / services is a big, new frontier in digital China / Asia. It is far behind the West but it’s an …Read More »

This week’s podcast is about Alibaba and Singles’ Day. Just my thoughts on what really matters. You can listen to this podcast here or at …Read More »

In Part 1, I made a distinction between the development of cloud and enterprise software. There is a sweeping new cloud architecture emerging at the same …Read More »

In the past months, I’ve been looking at companies are on the enterprise and cloud side.  As opposed to the B2C side, which is where …Read More »

This week’s podcast is more about Snowflake, the “data ecosystem” company. And how multiple companies are competing to create the standards and architecture for cloud …Read More »

A subscriber suggested I look at Russian ecommerce company Ozon Holdings (OZON). It’s outside of Asia Tech Strategy, but I thought it was an interesting …Read More »

As many of you know, my focus / obsession is on how to measure the competitive strength and defensibility of digital businesses. I want to …Read More »

This week’s podcast is about Snowflake, the “data ecosystem” company. It is one of the most compelling digital business models out there. It is one …Read More »

My writing is mostly on business models and digital strategy. As these are can give you insight into value creation over the longer-term. It’s really …Read More »

In Part 1 and Part 2, I laid out a framework for Snowflake’s “data ecosystem” business model. I described it as +3 complementary platform business …Read More »

This week’s podcast is about core vs. adjacency growth. This is a good framework for thinking about growth in digital businesses’. You can listen to …Read More »

In Part 1, I laid out the basics for Snowflake, a “data ecosystem” or “data warehouse as a service” company. The company appears to have …Read More »

In late 2020, it was revealed that Berkshire Hathaway had an investment in newly public Snowflake, the “data warehouse as a service” company. That was …Read More »

This week’s podcast is about how digital impacts society, business, news and politics. And how centralized planning might be the best solution in a digital …Read More »

I’ve covered three topics that relate to digital valuation: DCF Discount rates and Cost of Capital Growth, ROIC / RONIC and value Plus I did …Read More »

I’ve covered three topics that relate to digital valuation: DCF Discount rates Growth, ROIC / RONIC and value However, I have made one big assumption …Read More »

This week’s podcast is about growth and how it relates to value and valuation. ROIC vs. RONIC is an important part of separating past and …Read More »

This is my third article on digital valuation. In Part 1, I talked about DCF – and where it works and where it doesn’t. In …Read More »

In podcast 101 (Why DCF Sucks for Digital Valuation), I went through how I use DCF for digital valuation. And I basically argued that much …Read More »

This week’s podcast is about how to apply DCF in valuations of digital companies. You can listen to this podcast here or at iTunes and Google Podcasts. …Read More »

I have been expanding from digital strategy to digital valuation as a topic. I recently summarized (briefly) how I do valuation long hand (i.e., pen …Read More »