11–20 of 459 posts
This is one of the primary reasons that tech startups flourish in America but not in Europe.
> out of 130 dms sent, 15 pointed to a conversion.
> From a former ecom guy's lens this is insane
Why do these otherwise very smart people always seem to draw these kind of shortsighted conclusions? It seems pretty obvious to me on the surface that this "works" because it's new. As soon as it becomes common place people will see that channel of communication as a source of coercion/marketing and start to ignore it. Aside from the fact that he seems to be drawing massive conclusions about the viability of a business based on extremely little data here, it seems really naive to not consider in his calculations the long term effects of essentially ruining the value of the channel that you are exploiting to get those numbers in the first place.
Anyway. China, India and others will have their own futures with their own theories on how the society is supposed to function, so no the future be it bleak or bright is not the future of humanity but USA and to some degrees Europe and the rest of Americas.
People often forget that the world is not just US or "the West". What he is investing in is a phase that the West certainly is headed into and we will be testing the idea of creating a feedback loop that gives more and more power to people who are successful in one thing to call the shots in all other things. I would say so far those people demonstrated very low efficiency and inability to match the ranks of the Chin…
He's doing it a somewhat more labor intensive way, not using fully automated software tools to drive each phone (he can hire people for the equivalent of $280 a month USD salary converted into PKR currency), but the results are much the same.
Particularly in the past five years I have seen a rapidly growing trend of people doing stuff that I would categorize as "importing sketchy shit people have been doing for a long time, and can often get away with doing in a developing country, to the US/Canada/Western Europe" as a business model. Like, you think the loan apps that some US based startups have launched in the last couple of years are sketchy? Look at what's been done in India for years now. Just as one category example.
https://www.aljazeera.com/economy/2023/12/25/the-dark-world-...
https://www.nytimes.com/2021/03/26/business/india-lending-ap...