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The global electric vehicle (EV) market is witnessing significant growth in the coming years as electric vehicle adoption rates rapidly escalate year-over-year across the globe. Therefore, this is considered a potential market for giants to invest in, typically Tesla. Most recently, Foxconn and Vingroup have also entered this new market. Terry Gou, founder of Foxconn. Simon Song/ South China Morning Post via Getty Image What is Foxconn? Foxconn is the world’s largest electronics contract assembler. As of 2012, Foxconn factories manufactured an estimated 40% of all consumer electronics sold worldwide. In order to strengthen the technology race, Foxconn began discussions

In the middle of May in 2021, Tesla CEO Elon Musk announced that the company is no longer accepting payments from its customers using Bitcoin due to concerns about “the rapid increase in fossil fuel usage from Bitcoin mining,”, which has led to fresh scrutiny of the cryptocurrency’s environmental impact. Back in February, U.S. Treasury Secretary Janet Yellen also warned about the environmental impact of Bitcoin, saying that Bitcoin mining creates “staggering” electricity consumption. Why is Musk worried? Musk pointed to data from researchers at the University of Cambridge showing that Bitcoin “mining” has seen a surge in electricity use

Erik Roth: We all know that not everything works—you have to test and learn. So what hasn’t worked? And how do you instill learning and experimentation into your culture? Anjali Sud: In order to succeed, you have to parse the things that require conviction from the things that have blind spots, which you should let go of. We acquired a company and had to shut down a business unit within a year. We tried to make it work—hard enough that I could say, “Even if we executed this at 100 percent, it is not going to work, because we are

Recently, in one of the episodes of the Inside the Strategy Room podcast, Erik Roth, who leads McKinsey’s innovation work globally, talks with Anjali Sud, CEO of Vimeo, about her experience reinventing the online video platform’s business model. Let’s explore how a Marketing Executive discovered an unexpected market opportunity, disrupted the company’s original business, and became CEO in the process. Erik Roth: Can you first explain what exactly Vimeo is and does? Anjali Sud: Vimeo is the world’s largest professional video platform and community. We are not a competitor of YouTube. We are not a viewing destination. We are a

The restaurant industry is changing fast and technology is the driving force. And amidst it all, a new trend is emerging – restaurant companies have started investing in tech companies, and even buying them outright. Why are they doing this? Let’s find your answer in this article. Technology is becoming so important in the restaurant space that there is something of an arms race going on as both large and small chains strive to make their establishments more tech-savvy and compete for the wallet of the modern customer.  From a competitive standpoint, it certainly makes a lot of sense. As

While the e-commerce boom continues, Yotpo, a little-known company that offers customer ratings and loyalty tools for a number of well-known brands has achieved unicorn status. Tomer Tagrin – Co-founder and CEO of Yotpo What is Yotbo? Founded in 2011, Yotpo has been the platform powering customer reviews for brands like Patagonia, MVMT, Away and Burton. But now, a decade later, it sees opportunity far beyond that expanding into everything from loyalty and SMS to visual user-generated content and referrals. All of these, Tagrin hopes, will enable the company to let brands further consolidate their marketing stack from a dozen