The binding constraint is working capital, not access — which is why the platforms are really lenders.
Startup · Topic
SM Prime, Ayala Land, Robinsons, Puregold and the sari-sari store economy.
The binding constraint is working capital, not access — which is why the platforms are really lenders.
The same store, stock and staff serving both households and micro-retailers changes the entire return profile.
In emerging markets, serving the informal trade earns more than displacing it ever would.
The construction is execution. The land bought a decade early is where the return actually is.
Build the thing that creates a district, then own the district. The value is captured twice.
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