Then, it hit me: this looked very similar to what @tobi and @Shopify had done in creating infrastructure that enabled independent players to sell online.
I had created context for the new learning within my broader mental map—it would stick.
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Evergrande is the train wreck that the financial world and media can’t help but watch.
Here’s breakdown on the story:
1/ The Evergrande Group is a Fortune 500 real-estate developer with headquarters in Shenzhen, Guangdong, China.
It was founded by Hui Ka Yan in 1996 in Guangzhou.
It's a big business: as recently as 2020, it had sales of >$100 billion and adjusted core profits of ~$5 billion.
2/ At its core, it's a homebuilder business.
Its website states that it has over 1,300 projects across 280+ cities.
But it has pushed the boundaries, making investments in EVs, an internet and media production company, a theme park, a soccer club, and a mineral water company.