What do you think of Walmart’s idea to deliver groceries into people’s homes and fridges?
I think it’s absolutely inevitable that this is the way people will buy groceries in the future. I think buying groceries is less impulse buying, and therefore it will predominantly be done online. And it applies to cooked food as well. There is a company in China called Meituan which is doing more than 10 million deliveries a day of cooked food. This is very clearly where the world is going.
But why should entrepreneurs think they can make money when that value could be swallowed up by the likes of Amazon?
Because when Jeff Bezos was starting his company, there was nothing he was doing that Walmart couldn’t have done. There was nothing that Google was doing that IBM couldn’t have done. It’s always the same pattern. A new generation starts something the old generation could have done, but didn’t. That has been happening for hundreds of years.
We’re all going to be replaced. What a nice thought.
Actually Steve Jobs said that in his Stanford commencement address:. “Right now the new is you, but someday …you will gradually become the old and be cleared away.” We can assume that this applies to companies as well.