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5min chapter
The Meituan Bear Case (with Lillian Li)
ACQ2 by Acquired
Is It a Greenfield?
When you start with a greenfield, and you don't have to spend too much time really thinking about your particular niche, i think that sets a different way of thinking about product. But for chinese aps when they started, given the greenfield opportunity, it's harder to get consistent traffic to their platforms. So all of them have gotten into this mentality, for better or worse, from their genesis of we need to acquire users and retain users cheaply. It is almost just keeping up with the joneses. If my competitors are doing this, then i have no choice but to do this as a preventative measure that my uses will go over to theirs.
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