[Data-heavy startups looking to enter a new market should be choosy about what kind of dishes to put their secret sauce on]
These days, it’s hard to imagine a startup that doesn’t leverage data to gain some advantage. But for some startups, data and information are the critical foundation of their competitive advantage. You will often find in these companies’ pitches phrases like proprietary algorithm and AI.
Indeed, these advantages can be powerful and can cement a leader’s position in the market for a long time. These companies leverage their superior data and algorithms to offer a superior product to their customers, and the more their customers use their product, the better the data and algorithms become. A company like Google that commands 90% share of web searches will almost certainly always be a step ahead of its search rivals in serving relevant results, because user search behavior is always used to improve the product.
The same concept applies to most AI products, including the many AI startups who have come through AppWorks recently, from healthtech to voice AI. One thing they would all love to have more of is data. Even companies not traditionally thought of as AI can call data their secret sauce: many non-bank lenders in the growing fintech space are able to offer the best rates to relatively less risky customers solely because they have better data.
Startups looking to enter a new market should be choosy about what kind of dishes to put their secret sauce on. A lender in Indonesia which has learned how to evaluate credit risk in a specific market like agriculture might find an easier lane expanding to neighboring countries while staying in the agriculture sector, than if they expanded to oil & gas staying in Indonesia (all else equal). A company with a successful English-speaking chatbot might expand to other English-speaking countries (and those with a similar flavor of English) before thinking about developing support for another language, even if the other market opportunity is bigger.
When it’s time for a successful startup that relies on information advantages to expand to a new market, it’s tempting to pick the biggest market or a market with which they are most familiar. But in some cases, especially in competitive markets, it could make sense to give higher weight to markets where your assets can be leveraged.
This is part 2 of the series “How well does your competitive advantage travel?”
foundation for critical thinking 在 Syed Saddiq Syed Abdul Rahman Facebook 的最佳貼文
Throwback 6
I have always wanted to be a teacher/lecturer.
When my mum taught tuition at home, i'll volunteer to help out.
When i was completing my foundation in Uni, i used to travel x3times a week from PJ to Shah Alam to teach tuition at night.
I also spend 2 days a week teaching debating in TKC, commuting from PJ to Nilai. In hindsight, this was one of my most memorable debate experience, ever.
Yes it was illegal then to leave campus, but hey, a man has to pay his bills. I didn't want to be a burden to my parents.
By the second year into Uni, i was already appointed a part-time lecturer for Niche, Advance Debating & Public Speaking in IIUM.
New opportunities came when i started to receive invitations to teach abroad.
No matter where & how far, i'll almost never turn the opportunity down.
I remember once i was invited to run workshops in Lahore, Pakistan. I only told my mum when i was already on the plane & about to depart, as i feared she would block me from leaving as there were a few bombings in Pakistan then.
If we are honest in teaching, we won't just hand-pick countries based on how much they pay or how good they already are.
We owe a duty to help one another climb up.
By the end of my debating career, i have had the privilege to speak/teach/judge in ~25 countries.
Yes, this made me miss a lot of classes (when in uni) but i wouldn't trade the experience i gained with anything else.
Travelling the world to teach made me a global citizen. It opened up my eyes.
When i was appointed Co-Chief Judge for Pan Africans Debating Championship which was held in the City of Limpopo, i met many new friends & empathised with the struggle of debating in Africa.
There were times where the electricity suddenly went off & we had to continue the debates in the dark with candles.
I decided to stay longer to run a few more workshops to help wherever i can.
I will forever cherish the experiences. It made me who i am today.
I'll be hosting #Thunderbold classes on Public Speaking, Debating, Critical Thinking & more, sharing my years of experience.
5 classes(RM200)where 100% of proceeds will go to buy tablets for poor students.
Join me.
bit.ly/thunderbold
foundation for critical thinking 在 Syed Saddiq Syed Abdul Rahman Facebook 的精選貼文
Throwback v5
Success never comes alone. It comes with teamwork.
I will forever be indebted to all my trainers/teachers.
Today, i'd like to share a story about Sir Irzal Kamal, the man in the photo.
When i first joined uni, i was never at the top of the debate circuit. I would always be in Team B/C.
Irzal was one of my trainers in the Foundation Centre of IIUM which i was in then. He was also the trainer of the main IIUM Debate team.
Every week we will have a minimum of 2 training sessions in CFS. I knew it wasn't enough as i was too far behind the rest. My future opponents from NUS, Oxford, Sydney were way ahead of me.
Irzal then invited me to come for additional training sessions in IIUM (Gombak) with the seniors so that i could improve better.
He believed then, for me to catch up with the champions, i must be at least 3 years ahead of my time & train much much harder.
CFS had this weird rule which barred me from leaving & entering campus at night, thus stopped me from joining the training sessions with the seniors in Gombak campus, IIUM.
I did not give up.
I would jump the fence everytime to head to IIUM Gombak for training & to come back into CFS late at night.
Irzal would patiently wait for me outside to drive me from PJ to Gombak & drive me back once training is over.
He did not get a single cent of extra pay for doing this. He did this because he's a great teacher.
That year, i ended up winning Nationals as a Junior & subsequently to the Grand Finals of the Worlds Debating Championship (ESL).
None of this would be possible without my amazing teachers! Irzal will always have a special place in my heart.
I'll be hosting 5 #Thunderbold classes on Public Speaking, Debating, Critical Thinking & more, sharing my years of experience.
5 classes for only RM200. It is opened to all! 100% proceeds will go to purchasing quality Laptops/Tabs for underprivileged students in Muar.
See you in class.
Join us.
bit.ly/thunderbold