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Hello reader,
Professional sport regulators go to great lengths to develop structures that enhance their competitions as unpredictability breeds excitement. Would the final of last year’s soccer World Cup really have reached 1.5 billion global viewers if everyone had known Argentina was going to win? Somehow, I doubt that.
Domestic leagues such as the NBA in the US or the football pyramid system in England are fine examples of how regulators can craft a structure that not only keeps the dough rolling but also improves its sporting standards through intense competition.
Perhaps food delivery regulators in Southeast Asia should take some notes. Grab is so far ahead of the competition that realistically only second place is, well, up for grabs.
For instance, the Singapore-based firm’s gross merchandise value (GMV) for the region last year in this segment was more than the combined total of its seven local competitors: Foodpanda, GoFood, ShopeeFood, Line Man Wongnai, Deliveroo, Robinhood, and Baemin.
Today’s featured piece sheds light on how the region’s food delivery race turned out so one-sided and examines the shifting dynamics of the industry, including its newfound emphasis on efficiency.
Today we look at:
- The state of play in Southeast Asia’s food delivery race
- Binance CEO’s response to a US regulator’s damning accusations
- Other newsy highlights such as Ant Group’s latest Singaporean splurge and an Indonesian insurtech startup’s US$7.5 million fundraise
— Shravanth
P.S.: If you’re an entrepreneur looking for funding, fill out this form to get your company featured on our list of fundraising startups.
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Image credit: TImmy Loen
When competition dies, innovation invariably suffers. Market-leading firms may not see an urgent need to improve as there’s no immediate threat to their revenue. In such situations, the end users tend to be the biggest losers due to a lack of alternative solutions and reduced power over pricing.
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