ChingShih's recent activity
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Comment on Exporters without borders: why you should start a company instead of working in aid in ~finance
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Comment on Exporters without borders: why you should start a company instead of working in aid in ~finance
ChingShih LinkDaniel Yu sounds like a really, really intelligent guy, but that's a lot of keywords and verbiage from someone accustomed to VC-pandering. Let me briefly break down what he really did. I really...- Exemplary
Daniel Yu sounds like a really, really intelligent guy, but that's a lot of keywords and verbiage from someone accustomed to VC-pandering. Let me briefly break down what he really did. I really don't have any complaints about the endeavor itself, but I do find these kinds of "you can get rich by doing what I did" kinds of self-help articles/books tiresome. It's even more funny (in a sad way) when you find out he fired 100 employees and axed several C-levels when he sold the company to a competitor and then went to work on an NGO in India.
Anyhow, here's what he did without the marketing speak (and a little peek at what he did after posting this essay):
What I kept noticing was a simple, persistent problem: the neighborhood shops kept running out of basic items, such as soap, cooking oil, flour, and sugar.
He found a market sector that hadn't been exploited yet and became the only business performing the necessary functions in very select regions that could be profitable. That's phenomenal and exactly what people should be doing in a capitalist system. No complaints from the capitalists.
Wasoko replaced that trip with a mobile phone order and same-day delivery.
Wasoko was founded by three people including Yu. They raised over $125 million in private equity and venture capital across several rounds of funding, purchased warehouse space in countries with favorable tax scenarios for such situations (i.e. as little as 0%), employed extremely inexpensive labor, and bought up enough assets and inventory across the region that they could resell their goods cheaper than smaller companies -- and then offered delivery. We don't know how many people got run out of business by being undercut by this new wholesale distributor, or whether local wages got depressed as a result of Wasoko's success, but maybe it more than made up for it.
Like the theoretical case Yu is making, employing people who don't have jobs or lack access to regular sources of income is extremely important for helping developing regions and keeping them stable. My only nitpick is that he doesn't provide hard numbers here and it would be nice to see.
Wasoko eventually grew to serve more than 100,000 small businesses across six countries in Sub-Saharan Africa, with a team of 2,000 people.
Wasoko, formerly Sakowatch, raised over $125 million in capital (not sure where the money came from, but one of the investors might've been the University of Chicago along with an American investment management/private equity company) to provide services in areas where they could dominate, but not in areas that were unprofitable (otherwise they'd be an NGO, right?). Good business acumen. Not sure how that supports the argument against NGOs when NGOs can operate in areas that aren't profitable. Yu should know that, considering where he "works" now.
By the time I left the firm, it was serving 100,000 small businesses.
Hm, very vague number from an article written in 2023. Quarterly active accounts? Total accounts? Total businesses within the service delivery area? A later article claims "In August 2024, it claimed to serve 450,000 merchants who reached 65 million consumers." Hugely different numbers between 2023 and 2024, so maybe the 100K small businesses is their active accounts.
It doesn't matter. A few months after writing the essay submitted to Tildes, Yu and his board "reorganized" the company and merged/sold it to a competitor. They also paused operations in Uganda and Zambia, closed their offices in a Silicon Valley-like part of East Africa, and laid off some employees. The Kenyan tax situation for the company also changed in 2025, and may have changed in other African countries, which might've made the buyout/merger look like a good way of saving a company damaged by recent economic tides. As of 2025, Yu of course still has an advisory role on the board of the new company, but has apparently moved to India to work with an NGO focused on education.
So I don't really feel inspired by this? And, supposing that Sokowatch/Wasoko did benefit from extremely lenient taxation (some might call loop-holes), that exploitation has perhaps led to the current situation where many African countries are implementing a minimum corporate tax structure mirroring (or due to) recent American reciprocal tax policies. So someone with the money and initiative to do this can't because, like many self-help books on getting rich, the system has already been abused and the market has already been cornered.
The thing about Yu's premise is that what people and economies need is liquidity. They need cash infusions in the right places and in the right ways (economically as well as morally -- people feel good when they are getting paid to do honest work). Businesses of all sizes do this, but they need liquidity and often it's foreign capital investment that makes the biggest waves because they bring the biggest cheques.
However there are alternatives, and the part mentioning Floramérica's $2.4B annual revenue is an interesting number. It's the same amount of disbursements through Kiva to borrowers in developing nations over the non-profit's lifetime. So it's an order of magnitude different and the Googler-founded non-profit is using micro-lending in a P2P-adjacent format to help people who don't have access to traditional banking or lending services (and are also at-risk of predatory lenders, corruption, and organized crime). Yet Kiva is able to service borrowers in regions that aren't traditionally profitable which is why many of those lending services don't exist -- because capital markets have deemed it not worth the investment. So a non-profit (that literally "issues cash transfers") like Kiva and a corporation like Wasoko aren't comparable at all ... and Yu's premise that for-profit corporations and non-profit corporations are comparable ... must be wrong. It's also a little bit lazy to raise $125 million (or more) and then compare yourself to organizations that didn't.
Through that decade of venture building in Africa, I came to understand a harder truth: the path to widespread prosperity would not come from simply helping local businesses operate more efficiently. Wasoko was a start, but local purchasing power was deeply constrained. Creating genuine engines of income growth requires businesses built to serve markets beyond developing countries—using global purchasing power to drive convergence.
But if there is a takeaway, it's what Yu wrote above. Wasoko was one business and it helped to provide jobs and a regular source of income for at least a couple thousand people who might not have had that income security. But it's not the only solution and there is not a single solution that fixes everything -- as Wasoko didn't. There need to be multiple solutions at every level and in different ways so that wealth isn't solely concentrated in areas where it pays dividends. Purchasing power that drives the economy can come from many sources and the reins of that equity shouldn't be in the hands of the few.
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Comment on I’m traveling internationally for the first time and could use tips! in ~travel
ChingShih LinkI went to Frankfurt a couple years ago to view the, ahem, tapestries. I saw 8 castles in the span of 7 days, one of which was on the same day I departed, so while it was a bit of a whirlwind, I...I went to Frankfurt a couple years ago to view the, ahem, tapestries. I saw 8 castles in the span of 7 days, one of which was on the same day I departed, so while it was a bit of a whirlwind, I had a great time.
Advice on visiting castles, museums, etc. in the German-speaking parts of the world:
Check to see if reservations are required (especially for English-speaking tours).
Some castles are privately owned (on behalf of the public, perhaps) and while they might be open 5 days a week, tours are exclusively guided and public tours might only happen on certain days. I hadn't even thought about this when I showed up to one castle and I'm glad that it was a "public day" because the other castle I wanted to visit the next day required email/phone notification/reservation (totally worth it!).
Similarly, check what time the last tours are ... if the castle is open until 5PM, the last tour might be at 3:30 or 4:00PM.
Parking can be terrible and the roads up to even some of the more popular castles can be tricky/single-lane, so do a quick check of the route and any warnings on Google.
Going to Burg Rheinfels was awesome, but I think I stressed more over the one-lane road (with blind corners) up through town and navigating the traffic lights than I did the entire rest of the trip.
Bring some Euro coins for parking meters, entry, etc.
Parking at Schloss Heidelberg was paid only. I fumbled some Euros into a meter and the rest is a blur. I think I parked about 1 kilometer from the palace, which on a busy day didn't seem bad at all and it was mostly a walk through the gardens anyway. Also, because in the US paid parking is usually non-existent on Sundays I hadn't considered that ... in Germany parking is paid on Sundays, too, at least at certain places (Schloss Koblenz I'm looking at you T_T).
Some locations have multi-lingual audio tours ... but only accept exact change? I found something similar in Japan. Must be a cultural thing. Anyhow, be able to make change for those who can't make change for you. That's probably a Bavarian proverb.
You can easily chain two or even three castle visits together if you plan a decent route.
My experience in Frankfurt is probably not all that different from Bavaria, although the scale might've been different, but for the most part I was able to do either 1 castle and a tourist destination or 2 castles in one day and still be able to grab breakfast and dinner back in Frankfurt. A lot of it was kind of ad-hoc, too and I got very lucky that I was able to also find time to stop at Frankenstein castle (which is a real place and the castle ruins host some live music performances which is pretty cool although not the symphonic metal holy land that I expected it to be haha). It looks like Burg Neuschwanstein, Burg Hohenschwangau, and Schloss Linderhof are all very close by, for instance.
Enjoy!
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Comment on Artemis II April 1 launch in ~space
ChingShih (edited )LinkI'm watching both streams below. For a bit they were showing a view from the press viewing island, I believe. Phenomenal place to feel the launch! :) I am grateful I got to go there as a little...I'm watching both streams below. For a bit they were showing a view from the press viewing island, I believe. Phenomenal place to feel the launch! :) I am grateful I got to go there as a little kid and see, but most importantly FEEL the shuttle launch.
This is the main broadcast: https://www.youtube.com/watch?v=Tf_UjBMIzNo
But this is the view from the Kennedy Space Center: https://www.youtube.com/watch?v=NaJklsJonD4
^ Interestingly, this video is on less of a time delay than the official broadcast (for me -- YT video streams can vary by something like 30 seconds).
And live views from Artemis II, when available (post-launch): https://www.youtube.com/watch?v=6RwfNBtepa4
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Comment on Can we talk about rice cookers? in ~food
ChingShih Link ParentCan confirm, I hate fun in general. :) I also try to switch my Zojirushi hot water thing from Minuet in G to three beeps (one beep is also an option). My LG oven (not my purchase) plays an awful...Can confirm, I hate fun in general. :)
I also try to switch my Zojirushi hot water thing from Minuet in G to three beeps (one beep is also an option).
My LG oven (not my purchase) plays an awful tune and I wish I could disable it (internet says I can't).
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Comment on What have you been listening to this week? in ~music
ChingShih Link ParentInteresting. Are you familiar with some of her more famous songs at all? Are you familiar with some of the notable covers of her songs? I introduced a friend to Placebo's cover of her single...Interesting. Are you familiar with some of her more famous songs at all? Are you familiar with some of the notable covers of her songs?
I introduced a friend to Placebo's cover of her single "Running Up That Hill" and while he didn't like it, I was surprised he'd never come across it before. On the flip side, sometimes people hear a popular song, like Smooth Criminal, and have stronger associations with the cover (Alien Ant Farm) than the original (Michael Jackson).
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Comment on Michael Hafftka releases all of his ~3800 paintings as Creative Commons, explicitly for use in training AI in ~arts
ChingShih Link ParentExactly. If someone had told me 25 years ago that Microsoft and their partners would be the biggest proponents of media piracy (even just books and images) and advocate against author's copyright...Exactly. If someone had told me 25 years ago that Microsoft and their partners would be the biggest proponents of media piracy (even just books and images) and advocate against author's copyright in the courtroom, I'd have laughed my eye patch off.
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Comment on Iran hits Gulf energy sites, escalating war, as US mulls sanctions rollback in ~society
ChingShih Link ParentPerun pointed out, I think last week, that this was actually a campaign promise that went unfulfilled. US strategic reserves sat at about 60% of capacity in February 2026. Which is still a lot,...without topping off our strategic national reserves of oil first
Perun pointed out, I think last week, that this was actually a campaign promise that went unfulfilled. US strategic reserves sat at about 60% of capacity in February 2026. Which is still a lot, but adding more would've improved the US consumer's confidence, would've been able to keep prices lower longer in the event of a significant catastrophe, and improved one piece of the national security metric.
On that note, with the suspension of the Jones Act to allow foreign-made ships to help cross-ship oil between different US ports, I worry that the US will be exchanging slightly lower fuel prices for US jobs. If you were a Panamanian-flagged vessel transporting oil between Venezuela and Cuba or between Venezuela and China, and you already have an experienced crew (and probably experience going through the Panama canal), are you going to keep doing those long, low-margin routes or are you going to jump into the US shipping market and slightly undercut all the companies who had previously been profiting from protectionist regulations?
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Comment on Iran hits Gulf energy sites, escalating war, as US mulls sanctions rollback in ~society
ChingShih Link ParentI wouldn't attribute to malice and conspiracy what can be attributed to general fuckery and major dysfunction (but let's not pretend there's any general in charge). I was wondering about the same...I wouldn't attribute to malice and conspiracy what can be attributed to general fuckery and major dysfunction (but let's not pretend there's any general in charge).
I was wondering about the same implications and after a quick search the US exports 20% of its LNG. The US EIA has some stats here about LNG and Hydrocarbon Gas Liquid (HGL) exports vs imports. While the rationale for exporting LNG and HGL might change, and doesn't necessarily change the short-term demand for it domestically, if the US is capable and willing to continue exporting then presumably it is still willing to import from Canada to make up for that difference -- mirroring the way that Canadian petroleum products help power the US despite the US exporting some of its own crude and refined petroleum products. Canada makes up 52% of US oil imports for all oil product types, including heating oils, while the US exports about half of what it imports (either as a refined product or other type).
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Comment on Iran hits Gulf energy sites, escalating war, as US mulls sanctions rollback in ~society
ChingShih Link ParentI will add something that I heard in two parts from two different analysts: The first said that this attack has impaired Qatar's LNG production (I believe it was the process of turning the gas...Iran retaliated with attacks that caused “extensive damage” at Qatar’s Ras Laffan Industrial City, the world’s largest liquefied natural gas facility, officials said.
I will add something that I heard in two parts from two different analysts:
The first said that this attack has impaired Qatar's LNG production (I believe it was the process of turning the gas into a liquid for transport) by 17% (a sizeable amount) and that this impairment will last 3-5 years (I presume the amount of time they were told it might take to fix).
The second said that LNG isn't a fungible resource the way that gasoline/diesel is and this is due to logistics and capacity (to ship as cargo), but also strategic stockpiling and production. The Middle East, particularly centered around the Strait of Hormuz, is not just the primary corridor for traffic, but also the world's primary producer (and the producer who will sell to almost anyone). Asia is more than just the primary buyer, they rely significantly on the LNG coming from the Middle East for their energy needs and they cannot quickly pivot away from it or find another source. There was one primary source and now it's output has been cut dramatically.
In the short-term we are already seeing the highly populated South Asia and Southeast Asia regions ration cooking fuel as well as some automotive fuels. I've read that coastal countries like Vietnam are not allowing pass-through sales to land-locked neighbors; the supply they buy they're keeping. I've read that people in Hong Kong are driving into mainland China to buy fuel due to cost and that will change political landscapes. A compounding effect will be when South Asia begins to see reduced fertilizer imports as this is the start of their import cycle for fertilizer.
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Comment on Dune: Part Three | Teaser trailer in ~movies
ChingShih LinkI'm excited to see how they wrap this story up. It's been a good experience so far. The fight scenes in Part 1 especially were done really well and visually described the book's intent so much...I'm excited to see how they wrap this story up. It's been a good experience so far. The fight scenes in Part 1 especially were done really well and visually described the book's intent so much better than I expected (the sparring with Gurney, crysknife duel, and Sardaukar battle). I'm not an expert fencer, but when reading the book I was concerned with how they'd portray this very specific style visually. Anyway, I don't have any doubts that Part 3 will have to deliver some pretty epic fight scenes.
I haven't read Messiah yet, so I liked seeing that Jason Momoa will reprise a role here -- and his scifi roles in general are fun (even if I didn't like See). The info at the bottom of the video also said that his daughter will be in this film, so that's cool. I didn't see Robert Pattinson in the trailer, must've missed him, but I've come to enjoy seeing his films - The Lighthouse and The Batman showcased his talent. I know Zendaya will be great in this, looking forward to seeing her career go to even higher heights.
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Comment on Dune: Part Three | Teaser trailer in ~movies
ChingShih Link ParentI did, too, which made the ending of Part 2 more disappointing for me because they spent so much movie time on the end scene -- almost dragging it out while keeping it close to the source material...... I wish it had gone a little bit slower.
I did, too, which made the ending of Part 2 more disappointing for me because they spent so much movie time on the end scene -- almost dragging it out while keeping it close to the source material -- when it didn't do anything more than the book did. The book's conclusion wraps up pretty quick, I'd say quicker than even watching it in film form and usually that's not how things go with book to film adaptations. I felt like they could've spent some of that movie time somewhere else and had just as impactful a confrontation while staying close to the source material. But since they've already deviated from the book in a few ways, I wouldn't have been offended if they deviated a little at the end to make the final confrontation more exciting and more worth the buildup (and time spent there instead of elsewhere).
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Comment on Your AI Slop Bores Me: Larp as an AI by answering prompts as a human in ~tech
ChingShih LinkI've seen some young people/kids using this. Seems to have gotten popular in certain circles and while it's very similar to the crowd-sourced search results thing from a few years back, this at...I've seen some young people/kids using this. Seems to have gotten popular in certain circles and while it's very similar to the crowd-sourced search results thing from a few years back, this at least feels fun and entertaining. Very much a fun project and a cute time-waster.
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Comment on New Evangelion series to be written by Yoko Taro in ~anime
ChingShih (edited )Link ParentOver on EvaGeeks.org there is speculation going on about the instruments pictured. Shinji was a cellist, Kaworu was a pianist. I feel like the cello is definitely intentional symbolism here, but...Over on EvaGeeks.org there is speculation going on about the instruments pictured. Shinji was a cellist, Kaworu was a pianist. I feel like the cello is definitely intentional symbolism here, but what about the second cello? It's been a while since I've seen Death (or Death & Rebirth for that matter), but some people are attributing the instrument references to the depicted quartet.
Edit: Someone posted this in relation to the text shown in the teaser video:
Context translations:
Eternal Summer Vacation
This is our paradise
This is our graveyard
What we hear is the song of perpetual sin
May their souls rest in peace
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Comment on What are your architectural hot takes? in ~design
ChingShih Link ParentMention of "shiplap" is always a throwback to a fun blog post from 2016 called "No Joanna, That's Not Shiplap". It's a relatively short read (shorter than the page load implies, because of all the...Mention of "shiplap" is always a throwback to a fun blog post from 2016 called "No Joanna, That's Not Shiplap". It's a relatively short read (shorter than the page load implies, because of all the blog comments, which are also kinda fun). The title/post is a reference to Magnolia Network's/Fixer Upper's constant misuse of the term "shiplap" when renovating homes and one of the catalysts for
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Comment on Sony is shutting down the PlayStation studio Bluepoint in ~games
ChingShih (edited )LinkI did the silent equivalent of audibly gasping when I read the title. I'm not the kind of guy to do that. The Demon's Souls remake was such a boon to western fans, especially when Sony never felt...I did the silent equivalent of audibly gasping when I read the title. I'm not the kind of guy to do that. The Demon's Souls remake was such a boon to western fans, especially when Sony never felt strongly about supporting the original game's release even in Japan. It's doubly disappointing to lose a west-facing studio like Bluepoint.
Not too long ago Square Enix reaffirmed their commitment to emphasizing live service games. For them, that meant making sure a lot of games with micro-transactions (mtx) and mobile games are in their portfolio. I assume Sony wants to pad the portfolio this way as well, but I don't know how they're going to succeed in executing this when so many other companies have struggled to release the major hits that get anywhere close to the ones that people point to as influential high-revenue games (Fortnite, GTA, Genshin Impact, and Wuthering Waves). But who knows, maybe all these live service games will be focused on the Chinese consumer market *rolls eyes*.
I hope that this resurgence of SaaS flickers out of existence quickly. Please don't support mtx, gacha mechanics, gambling, and skins stores. Please tell your friends that they can enjoy the free game but don't pay for extra content and reward this behavior.
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Comment on The death of mass market paperbacks in ~books
ChingShih Link ParentSame here, I specifically pick up used paperbacks to put on my bookshelves -- especially sci-fi and fantasy from the 80s and 90s with fun cover art. I appreciate some of the sci-fi covers from the...Same here, I specifically pick up used paperbacks to put on my bookshelves -- especially sci-fi and fantasy from the 80s and 90s with fun cover art. I appreciate some of the sci-fi covers from the 50s and 60s as well, but it tends to be a little outlandish.
When I'm at a used book store I look for paperbacks of some fantasy novels I missed out on earlier in life along with specific versions of some popular books (GoT with pre-HBO covers, for example). I like to get early editions of the books because they have a certain hue to their printings, sometimes have embossed lettering in the titles, and maybe they have the old style of the publisher's logo or something mildly interesting.
I have a small collection of cover art in the form of poster prints (Michael Whelan art, mostly). A lot of posters are getting hard to find cheaply -- as are some of the paperbacks with versions of the covers I really want. Mass market reprints were sometimes done with different color hues/temps, art was cropped differently, lettering for the title wasn't embossed, and things like that.
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Comment on US users: how are you watching Olympics coverage? in ~sports
ChingShih Link ParentIf you're going legit, but want to skip the commercials, I believe this still works for web browsers with uBlock Origin (and maybe other ad blockers): Go to NBCOlympics.com's live stream(s) or a...If you're going legit, but want to skip the commercials, I believe this still works for web browsers with uBlock Origin (and maybe other ad blockers):
- Go to NBCOlympics.com's live stream(s) or a full replay (Example: 7 Feb prime time livestream or UK vs US curling replay)^[1]
- Sign in with your Peacock or TV provider info (larger cable providers don't need you to actually sign in if you are at your home IP)
- You'll have to allow/install the Google Widevine extension, as necessary
- Make sure adblock is installed in your browser and you'll get dead air instead of ads :)
After that, it's up to you how you get your web browser's screen cast to your "TV" display. Either way, life is better without the commercials (even dead air is better during live events). I haven't run it too much this way, but after the commercials are cut out, the stream resumes like it's supposed to. No refreshing required.
^[1] If you haven't watched curling, let me suggest that you give this hot, mixed doubles round-robin curling a try because it will have you hammering that button from the first end to the last end for two hours of non-stop action.
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Upcoming book tours for authors you think are worth seeing?
I happened across Veronica Roth's blog post via GoodReads about a book tour for her upcoming book Seek the Traitor's Son. She'll be visiting various places around the US and UK. I can't say I've...
I happened across Veronica Roth's blog post via GoodReads about a book tour for her upcoming book Seek the Traitor's Son. She'll be visiting various places around the US and UK. I can't say I've ever really thought about going to a book signing or a book tour, but recently I've been thinking it would be a nice change of pace to go to an event like this and support an author or other creative this way. Roth is not first on my list, but it did get me thinking about how to find other events and hopefully get my hands on some cool merch as well.
Do you know of any creatives (but mostly authors, since this is ~books) who are doing tours this year? How do you keep informed about dates of book tours and festivals?
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Comment on 'The Grand Tour' revs up with new hosts Thomas Holland and James Engelsman (from Throttle House) and Francis Bourgeois in ~tv
ChingShih LinkAfter Clarkson got removed from the BBC, yet also got a pass to keep being himself, and then Top Gear (UK) not really inspiring the same level of greatness, it's good to see some all-around good...After Clarkson got removed from the BBC, yet also got a pass to keep being himself, and then Top Gear (UK) not really inspiring the same level of greatness, it's good to see some all-around good folks getting to fill the shoes that they've been destined to fill. As far as entertaining car series go, Throttle House is at the top of my list and I am super proud of Thomas and James for making it so far in an otherwise quite competitive climate (Hagerty puts out some great videos with high production values, which is kinda gross since they're an insurance company).
To paraphrase Doug DeMuro ... this is gonna be epic.
It's not that we read different articles, it's that we're looking at this through different lenses. And I'm glad you picked up on the fact that I do like what he did -- solving poverty through investment, solving unemployment through job-creating enterprises, and creating local stability for goods/services/salaries -- is uniformly good in our system. But contrary to his argument, it is something he still could have done without profiting (and I do wonder if the company is profitable ... that bears more research).
Not that he should have operated at a loss or that I'm advocating for it to have been a non-profit, but his contrast of NGOs to for-profit businesses falls flat when his success story literally is the proof that he found a market sector to profit from at a scale that people in the region clearly weren't able to do themselves (otherwise, all things being equal they would have already, right?). Venture capital followed the newly-created investment potential of Sokowatch/Wasoko not because they were investing in the people or the philosophy of creating jobs and stability, but because they wanted a return on their investment (and Yu hasn't disclosed what that was, just $125M+ in funding at a $650M+ valuation).
The example that Yu gives about small businesses having to travel to restock basis necessities like soap, cooking oil, flour, and sugar is a common one throughout these developing regions and you will see it in ALL developing parts of the Middle East, Asia, Africa, and South America. The local governments lack the infrastructure for big vehicles to deliver large quantities of items to wholesales who can sell direct to small businesses. It's a vicious cycle of not enough tax income for services, not enough money being made by people who are employed, too little employment, too much unskilled labor to develop the region quickly, a general lack of upward mobility, etc etc.
People on Tildes have posted lots of articles about what happens when a Walmart-type company (a sort of vertically-integrated wholesaler in their own right) moves into town, so I'll let you decide if the creation of a new wholesaler like Wasoko is always a good thing, sometimes a good thing, or can have mixed results for the other business that were clearly staying afloat but not providing the same margins that Wasoko was (and we know Wasoko was because they were competing with those same businesses and offering a delivery service, right?).
Maybe it is for the best for the long term, but I felt it appropriate to point out that economic competition isn't all roses; whoever Wasoko out-competed will never have the opportunities to ask for outside investment like Yu and his co-founders did. They never had that opportunity because the fundamentals didn't exist and what Yu did in creating a whole distribution network to save small businesses time and money is great, but he was able to do it because he saw an opportunity that he capitalized on and was capable of asking for the outside investment required to build what he built. He did not bootstrap himself the way the locals were, playing on a level playing field -- and that's fine. He bypassed a lot of that grief by using a huge amount of funding over a period of years that he might not have even been required to pay back (because he sold equity in Wasoko, rather than taking a loan or depending on donors like a non-profit). So if it worked, that's phenomenal, but I am skeptical that his conclusion about NGOs is wise. Kiva is certainly a counter-example and I think that his essay might not be much of a success story when we get into Wasoko's numbers and lasting impact.
I have more to say on this, but have to step away again. Perhaps you can look into the VC investors and see if its true that the Swedish investment firm sold their stake at a much lower valuation a year before Wasoko was merged/acquired. That's not typically a good sign. With $125M+ raised in venture capital and a cut valuation, it worries me that Wasoko might not have made much profit on their revenue (Yu said himself they were not an asset-light company) and the VC investors felt it wasn't a business with enough growth potential. But hey, I'm all for taking VC money and dumping it into developing regions that actually need it. But did the money grow? It would be pretty funny if Wasoko was a for-profit business that didn't turn a profit. But yes, the upshot is that jobs were created and hopefully many of its long-term employees are still employed with the new company.