The Impulso Podcast E04: Everyone is copying Temu, Elon Musk in Beijing, Existential risks of AI, and Web3 insurance
Jun 2, 2023
In this engaging conversation, Bao Hua, a physics-trained research intern at Momentum Works, shares his insights on the fast-evolving landscape of business and technology. The discussion begins with Temu's groundbreaking consignment-style model, inspiring many e-commerce players to replicate its success. Bao also reflects on Elon Musk's recent diplomatic outreach in Beijing and its impact on Tesla's strategy. Additionally, they tackle the existential risks of AI, exploring its dual nature as a tool for productivity and a potential threat, before delving into the future of Web3 insurance.
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Temu’s Hybrid Consignment Model
- Temu blends retail and marketplace into a consignment-like model that handles marketing, logistics and customer service for suppliers.
- This lets Temu offer vast, cheap selection by sourcing directly from Chinese manufacturers and squeezing suppliers.
Fast Imitation By Major Platforms
- Platforms like AliExpress and Lazada launched fully managed services copying Temu's playbook in late 2023 and April 2024 respectively.
- TikTok Shop also announced a similar service for the Middle East in mid‑May, showing rapid imitation.
Why Platforms Immediately Copy Temu
- E‑commerce platforms quickly copy successful peripheral experiments to avoid disruption and preserve market share.
- The core question is how many resources incumbents should divert to these new models without harming their main business.