The times they are a'changing! What NEW things did we pick up, enjoy, etc?
How did he go about this? Rest assured, he did not do this on his own. He got help from ‘Virtual Dining Concepts’ (VDC), a business that helps the restaurant community generate secondary sources of income through virtual brands (like MrBeast’s). VDC allows local restaurants to attract new customers with delivery-online menus
using food delivery services. This wasn’t VDC’s first rodeo, they also launched TygaChickenBites with rapper Tyga, and Mariahs Cookies with Mariah Carey. Here’s how it works.
Love the creativity of this business model.
2) Learning how to Fail :
It’s important that you know how to learn
(by using the Feynman Technique
for example), but you should also know how to fail
. While failing is easy, there is plenty of evidence on YouTube*, it’s definitely NOT easy to learn from past mistakes. Why is that? Because it’s hard to put a finger on the root cause of failure.
E.g. if employee failure stems from a lack of effort, perhaps it’s the employee’s fault. But if it results from fatigue near the end of an overly long 12-hour shift, perhaps the manager who assigned the shift is more at fault than the employee. Right? Here are some strategies to start learning from failure (HBR)
* Need a break from work? Here
is a nice fail video. 1:03, I felt that..
3) Production wars: Tesla vs. Toyota :
Kaizen, andon, heijunka, muda, mura, muri, jidoka. Relax, you’re not having a stroke. Operation and/or product managers reading this, understand that these terms represent the backbone of Toyota’s production system (TPS
). TPS is widely studied by business schools and manufacturing plants all over the world and laid the groundwork for the ‘lean work’ principle. Over the last decades, lean has been adopted by developers for helping teams deliver faster and more sustainably. It’s core beliefs: an iterative approach to development, short feedback loops, and a disciplined project management process. It’s interesting to see how a post-war Japanese factory working mindset
) is still being adopted by tech companies (big or small) all over the world.
New kid on the block Tesla, is (obviously) claiming that their own manufacturing model is far superior to that of Toyota, and was quoted saying that Toyota’s production line is slower than grandma with a walker.
4) Fancy Restaurants & Travel Blogs :
Antwerp Restaurant ‘Zilte ***’ has been awarded 3 stars by Michelin. Nice
. But have you ever wondered why a tire company is grading the best restaurants in the world?
To find out, we have to go back to 1894!
Back then, Michelin was looking for ways to sell more tires. And they found a simple solution. More car travels mean more burned rubber, which means more sold tires. So they started a culinary guide which grants restaurants all over France a special rating. A 2-star rating when the restaurant is ‘worth a detour’, and a 3-star rating when the restaurant ‘offers exclusive cuisine, worth a special journey’. As a result, they gave car tourism a much-needed push in the back. Genius marketing move!
Nowadays, we label this tactic as ‘linear commerce
’. It depicts the line where media meets commerce. Linear commerce is increasingly popular in a world that preps itself for the departure of 3rd, and the advent of 1st party data
. Hotel chain Wyndham is a good example of this. In order to lower their dependence on 3rd parties like Google & Facebook, they recently purchased the travel blog ‘travel+leisure
’. By doing so, they can influence/manufacture demand with their blog and answer that demand with their hotel service. E.g. If certain regions are struggling with bookings, they can promote said locations with their travel blog. Cool! Other examples are travel companies buying weather apps. If you’re looking up the weather in Spain when you are in Belgium, you might be thinking about a trip soon!
5) Big Tech Vs. Free Speech :
January 7 marks the epitome of four years of incessant online trolling by ‘the Donald’. Resulting in an assault on the US capitol. Since then, a lot has happened and big tech played quite a big role in it
. Facebook & Twitter banned Trump from their platform. And Amazon & Apple banned Parler, an app that was used to coordinate the attack on the capitol. They’re calling it the ‘great deplatformization of a President
’. Our initial reaction was ‘great, good riddance!’ but as Edward Snowden pointed out, for better or worse, ‘it will be remembered as a turning point in the battle for control over digital speech.’ What does it imply when a corporation can censor a government official? I haven’t totally wrapped my head around it. To be continued for sure. Twitter CEO Jack Dorsey released the following statement