How to Venture Out of Your Area of Expertise

We made an investment, for instance, in a cloud kitchen business that's done very well. But we know from our understanding in China that actually this is a model that usually struggles. So it's an example of a model that we should not have invested in because we know it ultimately doesn't work in China. And we think ultimately we'll struggle elsewhere in the world. We're today with a budget of about 45 million euros playing against teams like Real Madrid and Barcelona who have payrolls of 680 million somewhere in that range each. It's a huge David and Goliath story, but we're able to beat them.

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