DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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The most powerful drug in the world is not cocaine, meth, cannabis or sex.
Its sugar.
Simple, sweet and satisfying.
All of us eat it daily.
We may not even notice it, but its there.
The human biological system depends on sugar for energy.
It is a crucial ingredient for us to get the energy we need to move, talk, grow and survive.
Every country, city and culture have some form of carbohydrate-based staple.
Americans have bread and burger buns.
Europeans have pasta and croissant.
Asian have rice and noodles.
And now, we can proudly add bubble tea to the mix.
I know how good bubble tea is.
I drink it a few times a week.
Don’t judge.
Koi probably got half its annual revenue from me.
I saw the recent report on the bubble tea market in SEA.
It is a $3.66B market and is highly competitive.
Brands range from mass market (Gongcha and Each a Cup) to luxury (Koi and HeyTea).
HeyTea, who has 781 stores in China and 4 in Singapore, is valued at $9B.
Like cryptocurrencies, there are a million different kinds of bubble tea.
You have fruity flavors, milk-based teas, brown sugar, thai tea and even coffee-based ones.
You have all kinds of toppings from chewy boba, oversized boba, taro balls and even corn.
I am certain we have exhausted the different permutations of what’s possible to put inside a cup of bubble tea.
Indonesia has the largest market at $1.6B and Singapore has the highest average order ($3.9 per cup).
Those are nothing compared to China’s bubble tea market at $20B.
Essentially 5X of the entire SEA market.
Starting a bubble tea business might seems simple, but like any business, excelling is hard.
You have to think about how to overcome logistical problems, manpower problems, strategize carefully on the differentiation and learn how to scale it effectively.
Overall, it is a competitive and hard business to really do well in if you are not ready to stick out for a while.
Bubble tea is booming in SEA because its hot, its relatively affordable (except in Singapore) and we can drink it anytime.
I recall drinking 4 cups of bubble tea in Hainan when it was 40 degrees outside and each delicious cup only costs me $1.
Yes, to all those shaking their heads thinking how unhealthy bubble tea is and why are we doing it, we know.
We know its not wise to drink bubble tea all the time.
So practise moderation.
Don’t drink at 100% sugar (I know some people do, that’s scary) and don’t drink it daily.
Bubble tea or not, we all fundamentally crave for sugar.
And if you know how to create a business around that problem, you can be successful too.
-
Do you drink bubble tea?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #bubbletea #koi #heytea #china #sea #asia #carbohydrate #sugar #eth #btc #crypto
The most powerful drug in the world is not cocaine, meth, cannabis or sex.
Its sugar.
Simple, sweet and satisfying.
All of us eat it daily.
We may not even notice it, but its there.
The human biological system depends on sugar for energy.
It is a crucial ingredient for us to get the energy we need to move, talk, grow and survive.
Every country, city and culture have some form of carbohydrate-based staple.
Americans have bread and burger buns.
Europeans have pasta and croissant.
Asian have rice and noodles.
And now, we can proudly add bubble tea to the mix.
I know how good bubble tea is.
I drink it a few times a week.
Don’t judge.
Koi probably got half its annual revenue from me.
I saw the recent report on the bubble tea market in SEA.
It is a $3.66B market and is highly competitive.
Brands range from mass market (Gongcha and Each a Cup) to luxury (Koi and HeyTea).
HeyTea, who has 781 stores in China and 4 in Singapore, is valued at $9B.
Like cryptocurrencies, there are a million different kinds of bubble tea.
You have fruity flavors, milk-based teas, brown sugar, thai tea and even coffee-based ones.
You have all kinds of toppings from chewy boba, oversized boba, taro balls and even corn.
I am certain we have exhausted the different permutations of what’s possible to put inside a cup of bubble tea.
Indonesia has the largest market at $1.6B and Singapore has the highest average order ($3.9 per cup).
Those are nothing compared to China’s bubble tea market at $20B.
Essentially 5X of the entire SEA market.
Starting a bubble tea business might seems simple, but like any business, excelling is hard.
You have to think about how to overcome logistical problems, manpower problems, strategize carefully on the differentiation and learn how to scale it effectively.
Overall, it is a competitive and hard business to really do well in if you are not ready to stick out for a while.
Bubble tea is booming in SEA because its hot, its relatively affordable (except in Singapore) and we can drink it anytime.
I recall drinking 4 cups of bubble tea in Hainan when it was 40 degrees outside and each delicious cup only costs me $1.
Yes, to all those shaking their heads thinking how unhealthy bubble tea is and why are we doing it, we know.
We know its not wise to drink bubble tea all the time.
So practise moderation.
Don’t drink at 100% sugar (I know some people do, that’s scary) and don’t drink it daily.
Bubble tea or not, we all fundamentally crave for sugar.
And if you know how to create a business around that problem, you can be successful too.
-
Do you drink bubble tea?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #bubbletea #koi #heytea #china #sea #asia #carbohydrate #sugar #eth #btc #crypto
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