{"version":"1.0.0","segments":[{"speaker":"Unknown","startTime":2.13,"endTime":6.24,"body":"The AIBP ASEAN b2b"},{"speaker":"Unknown","startTime":2.13,"endTime":6.24,"body":"growth podcast is a series of"},{"speaker":"Unknown","startTime":6.24,"endTime":9.81,"body":"fireside chats with business"},{"speaker":"Unknown","startTime":6.24,"endTime":9.81,"body":"leaders in Southeast Asia"},{"speaker":"Unknown","startTime":9.96,"endTime":14.28,"body":"focused on growth in the region."},{"speaker":"Unknown","startTime":9.96,"endTime":14.28,"body":"topics discussed include"},{"speaker":"Unknown","startTime":14.28,"endTime":17.97,"body":"business strategy, sales and"},{"speaker":"Unknown","startTime":14.28,"endTime":17.97,"body":"marketing, enterprise technology"},{"speaker":"Unknown","startTime":18.03,"endTime":19.17,"body":"and innovation."},{"speaker":"Irza Suprapto","startTime":26.94,"endTime":29.28,"body":"Hello, everyone,"},{"speaker":"Irza Suprapto","startTime":26.94,"endTime":29.28,"body":"and welcome to the ASEAN b2b"},{"speaker":"Irza Suprapto","startTime":29.28,"endTime":32.1,"body":"growth podcast where we sit down"},{"speaker":"Irza Suprapto","startTime":29.28,"endTime":32.1,"body":"with individuals who are"},{"speaker":"Irza Suprapto","startTime":32.1,"endTime":35.76,"body":"building and growing businesses"},{"speaker":"Irza Suprapto","startTime":32.1,"endTime":35.76,"body":"in Southeast Asia. Today, we"},{"speaker":"Irza Suprapto","startTime":35.76,"endTime":38.1,"body":"actually have somebody quite"},{"speaker":"Irza Suprapto","startTime":35.76,"endTime":38.1,"body":"interesting with us. We've had a"},{"speaker":"Irza Suprapto","startTime":38.1,"endTime":41.46,"body":"lot of guests on our show from"},{"speaker":"Irza Suprapto","startTime":38.1,"endTime":41.46,"body":"the Philippines, Filipinos who"},{"speaker":"Irza Suprapto","startTime":41.46,"endTime":45.12,"body":"work for Philippine enterprises,"},{"speaker":"Irza Suprapto","startTime":41.46,"endTime":45.12,"body":"conglomerates as well as"},{"speaker":"Irza Suprapto","startTime":45.12,"endTime":48.42,"body":"government agencies. But today"},{"speaker":"Irza Suprapto","startTime":45.12,"endTime":48.42,"body":"is actually the first time we"},{"speaker":"Irza Suprapto","startTime":48.42,"endTime":50.76,"body":"have someone who is working out"},{"speaker":"Irza Suprapto","startTime":48.42,"endTime":50.76,"body":"of the Philippines for a"},{"speaker":"Irza Suprapto","startTime":50.76,"endTime":54.78,"body":"Philippines enterprise, but it's"},{"speaker":"Irza Suprapto","startTime":50.76,"endTime":54.78,"body":"not actually native Filipino. We"},{"speaker":"Irza Suprapto","startTime":54.78,"endTime":59.25,"body":"have Daniel with us from SM"},{"speaker":"Irza Suprapto","startTime":54.78,"endTime":59.25,"body":"online. And, Daniel, I think"},{"speaker":"Irza Suprapto","startTime":59.25,"endTime":61.44,"body":"you'll do a better job"},{"speaker":"Irza Suprapto","startTime":59.25,"endTime":61.44,"body":"introducing yourself than I ever"},{"speaker":"Irza Suprapto","startTime":61.44,"endTime":64.86,"body":"can. So can I just quickly hand"},{"speaker":"Irza Suprapto","startTime":61.44,"endTime":64.86,"body":"it over to you to tell us a"},{"speaker":"Irza Suprapto","startTime":64.86,"endTime":67.08,"body":"little bit about yourself as"},{"speaker":"Irza Suprapto","startTime":64.86,"endTime":67.08,"body":"well as SM online?"},{"speaker":"Unknown","startTime":68.04,"endTime":73.32,"body":"All right. Well, hi,"},{"speaker":"Unknown","startTime":68.04,"endTime":73.32,"body":"everyone. So as I said, my name"},{"speaker":"Unknown","startTime":73.32,"endTime":76.44,"body":"is Daniel. And yes, I'm actually"},{"speaker":"Unknown","startTime":73.32,"endTime":76.44,"body":"a Malaysian based out of the"},{"speaker":"Unknown","startTime":76.44,"endTime":80.91,"body":"Philippines. But maybe just a"},{"speaker":"Unknown","startTime":76.44,"endTime":80.91,"body":"bit background of my life before"},{"speaker":"Unknown","startTime":80.91,"endTime":83.61,"body":"the Philippines is. I was"},{"speaker":"Unknown","startTime":80.91,"endTime":83.61,"body":"previously a strategy consultant"},{"speaker":"Unknown","startTime":83.61,"endTime":87.6,"body":"for a large MNC working across"},{"speaker":"Unknown","startTime":83.61,"endTime":87.6,"body":"Southeast Asia. And I guess at"},{"speaker":"Unknown","startTime":87.6,"endTime":90.24,"body":"one point in my life, I realized"},{"speaker":"Unknown","startTime":87.6,"endTime":90.24,"body":"I didn't want to consulting"},{"speaker":"Unknown","startTime":90.24,"endTime":93.84,"body":"forever. And I just resigned my"},{"speaker":"Unknown","startTime":90.24,"endTime":93.84,"body":"job. And I took a scholarship"},{"speaker":"Unknown","startTime":93.84,"endTime":97.77,"body":"from the Malaysian government to"},{"speaker":"Unknown","startTime":93.84,"endTime":97.77,"body":"learn programming, specifically"},{"speaker":"Unknown","startTime":97.77,"endTime":101.1,"body":"Ruby on Rails. And long story"},{"speaker":"Unknown","startTime":97.77,"endTime":101.1,"body":"short from that scholarship, I"},{"speaker":"Unknown","startTime":101.1,"endTime":105.3,"body":"actually won a major hackathon"},{"speaker":"Unknown","startTime":101.1,"endTime":105.3,"body":"competition, San Francisco, USA,"},{"speaker":"Unknown","startTime":105.42,"endTime":110.67,"body":"and MasterCard. And that"},{"speaker":"Unknown","startTime":105.42,"endTime":110.67,"body":"competition win actually opened"},{"speaker":"Unknown","startTime":110.67,"endTime":113.13,"body":"a door for me, whereby Lazada"},{"speaker":"Unknown","startTime":110.67,"endTime":113.13,"body":"Philippines offered me a"},{"speaker":"Unknown","startTime":113.13,"endTime":119.52,"body":"directorship in the Philippines,"},{"speaker":"Unknown","startTime":113.13,"endTime":119.52,"body":"and I took it right, and worked"},{"speaker":"Unknown","startTime":119.52,"endTime":122.61,"body":"my way up, down to the"},{"speaker":"Unknown","startTime":119.52,"endTime":122.61,"body":"management team. And eventually"},{"speaker":"Unknown","startTime":122.61,"endTime":125.52,"body":"I moved to shopee Philippines"},{"speaker":"Unknown","startTime":122.61,"endTime":125.52,"body":"management team, so I can safely"},{"speaker":"Unknown","startTime":125.52,"endTime":129.75,"body":"say I probably am the only"},{"speaker":"Unknown","startTime":125.52,"endTime":129.75,"body":"management executive on both of"},{"speaker":"Unknown","startTime":129.9,"endTime":132.3,"body":"the two Southeast Asia's largest"},{"speaker":"Unknown","startTime":129.9,"endTime":132.3,"body":"platforms in the Philippines."},{"speaker":"Unknown","startTime":133.35,"endTime":137.04,"body":"But that same time, I wanted to"},{"speaker":"Unknown","startTime":133.35,"endTime":137.04,"body":"build something my own, and"},{"speaker":"Unknown","startTime":137.04,"endTime":140.01,"body":"coincidentally SM came about and"},{"speaker":"Unknown","startTime":137.04,"endTime":140.01,"body":"they told me they've been having"},{"speaker":"Unknown","startTime":140.01,"endTime":144.36,"body":"a hard time trying to digitize,"},{"speaker":"Unknown","startTime":140.01,"endTime":144.36,"body":"but they are willing to invest."},{"speaker":"Unknown","startTime":144.48,"endTime":148.44,"body":"And well, I guess I felt I had"},{"speaker":"Unknown","startTime":144.48,"endTime":148.44,"body":"the right digital experience to"},{"speaker":"Unknown","startTime":148.44,"endTime":152.46,"body":"figure it out. And eventually I"},{"speaker":"Unknown","startTime":148.44,"endTime":152.46,"body":"built SMS online. So it's"},{"speaker":"Unknown","startTime":152.46,"endTime":155.46,"body":"probably like the world's first"},{"speaker":"Unknown","startTime":152.46,"endTime":155.46,"body":"hyperlocal omni channel,"},{"speaker":"Unknown","startTime":155.76,"endTime":158.97,"body":"business model by more retailer."},{"speaker":"Unknown","startTime":155.76,"endTime":158.97,"body":"And we've been doing well so"},{"speaker":"Unknown","startTime":158.97,"endTime":162.63,"body":"far. And I guess that's pretty"},{"speaker":"Unknown","startTime":158.97,"endTime":162.63,"body":"much my background."},{"speaker":"Irza Suprapto","startTime":163.83,"endTime":166.95,"body":"Daniel, just give"},{"speaker":"Irza Suprapto","startTime":163.83,"endTime":166.95,"body":"us some context. So you said you"},{"speaker":"Irza Suprapto","startTime":167.28,"endTime":169.29,"body":"you're Malaysian obviously"},{"speaker":"Irza Suprapto","startTime":167.28,"endTime":169.29,"body":"working in the Philippines and"},{"speaker":"Irza Suprapto","startTime":169.29,"endTime":173.16,"body":"you moved to Philippines with"},{"speaker":"Irza Suprapto","startTime":169.29,"endTime":173.16,"body":"Lazada. Philippines. Right. When"},{"speaker":"Irza Suprapto","startTime":173.16,"endTime":175.68,"body":"was that? How long ago was that?"},{"speaker":"Irza Suprapto","startTime":173.16,"endTime":175.68,"body":"Well, I think that"},{"speaker":"Unknown","startTime":175.68,"endTime":180.42,"body":"was probably in"},{"speaker":"Unknown","startTime":175.68,"endTime":180.42,"body":"February 2016. Yeah, so many"},{"speaker":"Unknown","startTime":180.42,"endTime":181.2,"body":"years ago. Yeah."},{"speaker":"Irza Suprapto","startTime":181.53,"endTime":184.23,"body":"So you've been"},{"speaker":"Irza Suprapto","startTime":181.53,"endTime":184.23,"body":"based out of Philippines since"},{"speaker":"Irza Suprapto","startTime":184.23,"endTime":186.15,"body":"ever since February? 2016."},{"speaker":"Unknown","startTime":186.87,"endTime":188.07,"body":"Yeah, yeah."},{"speaker":"Irza Suprapto","startTime":189.09,"endTime":190.05,"body":"How's your"},{"speaker":"Irza Suprapto","startTime":189.09,"endTime":190.05,"body":"Tagalog?"},{"speaker":"Unknown","startTime":191.41,"endTime":195.91,"body":"Ah, guys, I'm not gonna"},{"speaker":"Unknown","startTime":191.41,"endTime":195.91,"body":"lie. I mean when I came to the"},{"speaker":"Unknown","startTime":195.91,"endTime":198.34,"body":"Philippines, I only thought I'd"},{"speaker":"Unknown","startTime":195.91,"endTime":198.34,"body":"stay for one year, yes , I did,"},{"speaker":"Unknown","startTime":198.37,"endTime":201.79,"body":"this struck me to actually"},{"speaker":"Unknown","startTime":198.37,"endTime":201.79,"body":"consider learning it. And then"},{"speaker":"Unknown","startTime":201.82,"endTime":204.16,"body":"you know, as one year passed, I"},{"speaker":"Unknown","startTime":201.82,"endTime":204.16,"body":"told myself, maybe one year and"},{"speaker":"Unknown","startTime":204.16,"endTime":206.95,"body":"then, you know, two years passed"},{"speaker":"Unknown","startTime":204.16,"endTime":206.95,"body":"and then eventually I got"},{"speaker":"Unknown","startTime":207.91,"endTime":211.87,"body":"engaged down the line. And yes,"},{"speaker":"Unknown","startTime":207.91,"endTime":211.87,"body":"I should have learned Tagalog."},{"speaker":"Unknown","startTime":213.55,"endTime":216.88,"body":"Yeah, so pretty much. It's still"},{"speaker":"Unknown","startTime":213.55,"endTime":216.88,"body":"close to zero."},{"speaker":"Irza Suprapto","startTime":218.25,"endTime":219.93,"body":"Well, you did"},{"speaker":"Irza Suprapto","startTime":218.25,"endTime":219.93,"body":"start with 'Mabuhay', so that's"},{"speaker":"Irza Suprapto","startTime":219.93,"endTime":225.27,"body":"a good start. Okay, let's, let's"},{"speaker":"Irza Suprapto","startTime":219.93,"endTime":225.27,"body":"take a quick, quick look at you"},{"speaker":"Irza Suprapto","startTime":225.27,"endTime":228.51,"body":"mentioned SMS online. And"},{"speaker":"Irza Suprapto","startTime":225.27,"endTime":228.51,"body":"obviously, that's its larger,"},{"speaker":"Irza Suprapto","startTime":228.51,"endTime":232.65,"body":"the entire SM IC group, right?"},{"speaker":"Irza Suprapto","startTime":228.51,"endTime":232.65,"body":"Can you just quickly run through"},{"speaker":"Irza Suprapto","startTime":232.65,"endTime":237.09,"body":"with us effectively, how that's"},{"speaker":"Irza Suprapto","startTime":232.65,"endTime":237.09,"body":"structured? Based out of the"},{"speaker":"Irza Suprapto","startTime":237.12,"endTime":239.79,"body":"entire it's effectively a"},{"speaker":"Irza Suprapto","startTime":237.12,"endTime":239.79,"body":"conglomerate, right. Can you"},{"speaker":"Irza Suprapto","startTime":239.79,"endTime":240.69,"body":"just quickly run through that?"},{"speaker":"Unknown","startTime":240.0,"endTime":245.88,"body":"So, what basically SM,"},{"speaker":"Unknown","startTime":240.0,"endTime":245.88,"body":"SMIC is basically like the"},{"speaker":"Unknown","startTime":245.88,"endTime":251.04,"body":"mother company across all the SM"},{"speaker":"Unknown","startTime":245.88,"endTime":251.04,"body":"companies across the"},{"speaker":"Unknown","startTime":251.04,"endTime":255.81,"body":"Philippines, right. And pretty"},{"speaker":"Unknown","startTime":251.04,"endTime":255.81,"body":"much the is one big business"},{"speaker":"Unknown","startTime":255.81,"endTime":259.17,"body":"unit I would say which is called"},{"speaker":"Unknown","startTime":255.81,"endTime":259.17,"body":"SM Prime. So SM Prime generally"},{"speaker":"Unknown","startTime":259.17,"endTime":263.28,"body":"focuses on the shopping malls,"},{"speaker":"Unknown","startTime":259.17,"endTime":263.28,"body":"or basically at SEMC group,"},{"speaker":"Unknown","startTime":263.67,"endTime":267.75,"body":"which is where SM digital my"},{"speaker":"Unknown","startTime":263.67,"endTime":267.75,"body":"subsidiaries face and along with"},{"speaker":"Unknown","startTime":267.93,"endTime":272.37,"body":"the property development, like"},{"speaker":"Unknown","startTime":267.93,"endTime":272.37,"body":"SMDC, which if you go across the"},{"speaker":"Unknown","startTime":272.4,"endTime":276.15,"body":"Metro Manila, you probably see a"},{"speaker":"Unknown","startTime":272.4,"endTime":276.15,"body":"lot of their condos. community"},{"speaker":"Unknown","startTime":276.15,"endTime":280.47,"body":"that were the ones actually that"},{"speaker":"Unknown","startTime":276.15,"endTime":280.47,"body":"does mostly with property. And"},{"speaker":"Unknown","startTime":281.01,"endTime":284.46,"body":"so that's SM Prime, which is one"},{"speaker":"Unknown","startTime":281.01,"endTime":284.46,"body":"of the larger businesses and SMC"},{"speaker":"Unknown","startTime":284.46,"endTime":288.09,"body":"and within is the SEMC the"},{"speaker":"Unknown","startTime":284.46,"endTime":288.09,"body":"shopping center management"},{"speaker":"Unknown","startTime":288.69,"endTime":292.92,"body":"company, and it's under SEMC"},{"speaker":"Unknown","startTime":288.69,"endTime":292.92,"body":"where SM digital is under under"},{"speaker":"Unknown","startTime":293.4,"endTime":296.94,"body":"and that's pretty much how SM"},{"speaker":"Unknown","startTime":293.4,"endTime":296.94,"body":"malls online, which is"},{"speaker":"Unknown","startTime":296.97,"endTime":299.88,"body":"essentially SM digital is"},{"speaker":"Unknown","startTime":296.97,"endTime":299.88,"body":"situated across the whole"},{"speaker":"Unknown","startTime":299.88,"endTime":300.42,"body":"conglomerate."},{"speaker":"Irza Suprapto","startTime":301.77,"endTime":304.32,"body":"Okay, so as you"},{"speaker":"Irza Suprapto","startTime":301.77,"endTime":304.32,"body":"mentioned SEMC it manages"},{"speaker":"Irza Suprapto","startTime":304.35,"endTime":307.2,"body":"obviously all your shopping"},{"speaker":"Irza Suprapto","startTime":304.35,"endTime":307.2,"body":"centers, your malls in the"},{"speaker":"Irza Suprapto","startTime":307.2,"endTime":312.51,"body":"Philippines and SM digital sits"},{"speaker":"Irza Suprapto","startTime":307.2,"endTime":312.51,"body":"under that. What exactly is the"},{"speaker":"Irza Suprapto","startTime":312.51,"endTime":314.82,"body":"mandate of SM malls online?"},{"speaker":"Unknown","startTime":316.85,"endTime":319.79,"body":"Yeah, so I guess the"},{"speaker":"Unknown","startTime":316.85,"endTime":319.79,"body":"mandate of SM malls online is"},{"speaker":"Unknown","startTime":319.82,"endTime":324.77,"body":"really to find where I mean,"},{"speaker":"Unknown","startTime":319.82,"endTime":324.77,"body":"let's take, let's acknowledge"},{"speaker":"Unknown","startTime":324.77,"endTime":330.2,"body":"two things, right. One is the"},{"speaker":"Unknown","startTime":324.77,"endTime":330.2,"body":"digitalization of the world,"},{"speaker":"Unknown","startTime":330.35,"endTime":334.46,"body":"everyone's trending it, if"},{"speaker":"Unknown","startTime":330.35,"endTime":334.46,"body":"you're not really evolving to"},{"speaker":"Unknown","startTime":334.46,"endTime":338.18,"body":"some form of technology in some"},{"speaker":"Unknown","startTime":334.46,"endTime":338.18,"body":"shape and form, when as your"},{"speaker":"Unknown","startTime":338.18,"endTime":341.06,"body":"automation bid from the front"},{"speaker":"Unknown","startTime":338.18,"endTime":341.06,"body":"end, or the back end processes,"},{"speaker":"Unknown","startTime":341.39,"endTime":347.48,"body":"you're gonna get left behind me."},{"speaker":"Unknown","startTime":341.39,"endTime":347.48,"body":"So that's one and two is most of"},{"speaker":"Unknown","startTime":347.48,"endTime":350.06,"body":"the customers today, especially"},{"speaker":"Unknown","startTime":347.48,"endTime":350.06,"body":"in shopping malls, they do cater"},{"speaker":"Unknown","startTime":350.06,"endTime":353.03,"body":"to the older generation. But as"},{"speaker":"Unknown","startTime":350.06,"endTime":353.03,"body":"you go down the funnel to the"},{"speaker":"Unknown","startTime":353.03,"endTime":355.82,"body":"younger generation segment,"},{"speaker":"Unknown","startTime":353.03,"endTime":355.82,"body":"especially the Gen z's, they"},{"speaker":"Unknown","startTime":355.82,"endTime":359.42,"body":"tend to be a segment whereby"},{"speaker":"Unknown","startTime":355.82,"endTime":359.42,"body":"there are a lot more digital,"},{"speaker":"Unknown","startTime":359.42,"endTime":362.39,"body":"and they're not necessarily"},{"speaker":"Unknown","startTime":359.42,"endTime":362.39,"body":"going to more for utility, but"},{"speaker":"Unknown","startTime":362.39,"endTime":364.88,"body":"they're going more to"},{"speaker":"Unknown","startTime":362.39,"endTime":364.88,"body":"experiences. And at the same"},{"speaker":"Unknown","startTime":364.88,"endTime":368.99,"body":"time, they do seem to spend more"},{"speaker":"Unknown","startTime":364.88,"endTime":368.99,"body":"time on their phones, or just"},{"speaker":"Unknown","startTime":368.99,"endTime":373.1,"body":"technology apps. And I guess"},{"speaker":"Unknown","startTime":368.99,"endTime":373.1,"body":"it's imperative that SMS online"},{"speaker":"Unknown","startTime":373.1,"endTime":378.08,"body":"or SMS digital finds a way to"},{"speaker":"Unknown","startTime":373.1,"endTime":378.08,"body":"park itself in to stay relevant"},{"speaker":"Unknown","startTime":378.08,"endTime":381.38,"body":"in long run and guess, and we"},{"speaker":"Unknown","startTime":378.08,"endTime":381.38,"body":"are complementary to the mall,"},{"speaker":"Unknown","startTime":381.41,"endTime":385.64,"body":"we're not there to cannibalize,"},{"speaker":"Unknown","startTime":381.41,"endTime":385.64,"body":"nor are we there to replace, but"},{"speaker":"Unknown","startTime":386.06,"endTime":388.7,"body":"it's there to actually bridge"},{"speaker":"Unknown","startTime":386.06,"endTime":388.7,"body":"the gap between the old and new."},{"speaker":"Unknown","startTime":388.94,"endTime":392.48,"body":"And actually, that's my mandate"},{"speaker":"Unknown","startTime":388.94,"endTime":392.48,"body":"and to find, where do we stand"},{"speaker":"Unknown","startTime":393.32,"endTime":396.05,"body":"through it all, in preparation"},{"speaker":"Unknown","startTime":393.32,"endTime":396.05,"body":"for next five to 10 years,"},{"speaker":"Unknown","startTime":396.05,"endTime":400.01,"body":"because at the end, a change"},{"speaker":"Unknown","startTime":396.05,"endTime":400.01,"body":"will come. And it's imperative"},{"speaker":"Unknown","startTime":400.04,"endTime":402.47,"body":"that SEMC is poised when the day"},{"speaker":"Unknown","startTime":400.04,"endTime":402.47,"body":"comes."},{"speaker":"Irza Suprapto","startTime":403.35,"endTime":406.11,"body":"Perfect. So as"},{"speaker":"Irza Suprapto","startTime":403.35,"endTime":406.11,"body":"you mentioned, right in the"},{"speaker":"Irza Suprapto","startTime":406.11,"endTime":408.42,"body":"Philippines, and I think we've"},{"speaker":"Irza Suprapto","startTime":406.11,"endTime":408.42,"body":"observed that as well, you know,"},{"speaker":"Irza Suprapto","startTime":408.42,"endTime":411.36,"body":"we've had, we've run this"},{"speaker":"Irza Suprapto","startTime":408.42,"endTime":411.36,"body":"podcast with a couple of people"},{"speaker":"Irza Suprapto","startTime":411.36,"endTime":414.36,"body":"from the ILR group, or even the"},{"speaker":"Irza Suprapto","startTime":411.36,"endTime":414.36,"body":"Aboitiz group, really all"},{"speaker":"Irza Suprapto","startTime":415.32,"endTime":418.02,"body":"conglomerates, they've been"},{"speaker":"Irza Suprapto","startTime":415.32,"endTime":418.02,"body":"around for, you know, over 100"},{"speaker":"Irza Suprapto","startTime":418.05,"endTime":422.43,"body":"years. And I think a lot of the"},{"speaker":"Irza Suprapto","startTime":418.05,"endTime":422.43,"body":"enterprises are taking steps"},{"speaker":"Irza Suprapto","startTime":422.43,"endTime":425.85,"body":"towards digitalization, it must"},{"speaker":"Irza Suprapto","startTime":422.43,"endTime":425.85,"body":"have been quite interesting from"},{"speaker":"Irza Suprapto","startTime":425.85,"endTime":428.76,"body":"you coming, you know, from well,"},{"speaker":"Irza Suprapto","startTime":425.85,"endTime":428.76,"body":"obviously management,"},{"speaker":"Irza Suprapto","startTime":428.76,"endTime":432.27,"body":"consulting, and then going into"},{"speaker":"Irza Suprapto","startTime":428.76,"endTime":432.27,"body":"Lazada and shopee, two of the,"},{"speaker":"Irza Suprapto","startTime":432.66,"endTime":435.69,"body":"as you mentioned, two of the"},{"speaker":"Irza Suprapto","startTime":432.66,"endTime":435.69,"body":"largest, I would say effectively"},{"speaker":"Irza Suprapto","startTime":435.72,"endTime":439.74,"body":"digital retail companies in"},{"speaker":"Irza Suprapto","startTime":435.72,"endTime":439.74,"body":"Southeast Asia. During that"},{"speaker":"Irza Suprapto","startTime":439.74,"endTime":444.09,"body":"shift into SM and especially"},{"speaker":"Irza Suprapto","startTime":439.74,"endTime":444.09,"body":"since you operated you are quite"},{"speaker":"Irza Suprapto","startTime":444.09,"endTime":447.42,"body":"familiar with the Filipino"},{"speaker":"Irza Suprapto","startTime":444.09,"endTime":447.42,"body":"market, which is one of the,"},{"speaker":"Irza Suprapto","startTime":447.51,"endTime":452.25,"body":"well it is the youngest median"},{"speaker":"Irza Suprapto","startTime":447.51,"endTime":452.25,"body":"age in Southeast Asia. What what"},{"speaker":"Irza Suprapto","startTime":452.25,"endTime":455.46,"body":"what were things you saw that"},{"speaker":"Irza Suprapto","startTime":452.25,"endTime":455.46,"body":"were you know, similar? What"},{"speaker":"Irza Suprapto","startTime":455.46,"endTime":458.31,"body":"were things you saw that were"},{"speaker":"Irza Suprapto","startTime":455.46,"endTime":458.31,"body":"coherent between Shopee and"},{"speaker":"Irza Suprapto","startTime":458.31,"endTime":462.3,"body":"Lazada? And what SM is actually"},{"speaker":"Irza Suprapto","startTime":458.31,"endTime":462.3,"body":"doing? And what were things"},{"speaker":"Irza Suprapto","startTime":462.3,"endTime":463.83,"body":"which were actually a little bit"},{"speaker":"Irza Suprapto","startTime":462.3,"endTime":463.83,"body":"different?"},{"speaker":"Unknown","startTime":466.84,"endTime":470.98,"body":"So, maybe to add some"},{"speaker":"Unknown","startTime":466.84,"endTime":470.98,"body":"context. So yes, I was from"},{"speaker":"Unknown","startTime":470.98,"endTime":473.77,"body":"Lazada, shopee, let's say I"},{"speaker":"Unknown","startTime":470.98,"endTime":473.77,"body":"actually went to I started"},{"speaker":"Unknown","startTime":473.77,"endTime":476.83,"body":"there, they were mostly focused"},{"speaker":"Unknown","startTime":473.77,"endTime":476.83,"body":"on electronics and majority of"},{"speaker":"Unknown","startTime":476.83,"endTime":480.37,"body":"the segment was really well"},{"speaker":"Unknown","startTime":476.83,"endTime":480.37,"body":"shopee was a totally different"},{"speaker":"Unknown","startTime":480.37,"endTime":483.97,"body":"ballgame. I think they focus"},{"speaker":"Unknown","startTime":480.37,"endTime":483.97,"body":"mostly on cheap, cheap fashion,"},{"speaker":"Unknown","startTime":484.36,"endTime":487.27,"body":"home and living items,"},{"speaker":"Unknown","startTime":484.36,"endTime":487.27,"body":"predominant target is really the"},{"speaker":"Unknown","startTime":487.27,"endTime":490.06,"body":"young female segment. And when I"},{"speaker":"Unknown","startTime":487.27,"endTime":490.06,"body":"went to SM, it's really a"},{"speaker":"Unknown","startTime":490.45,"endTime":493.87,"body":"offline retailer where most of"},{"speaker":"Unknown","startTime":490.45,"endTime":493.87,"body":"the customers are really old,"},{"speaker":"Unknown","startTime":494.41,"endTime":500.29,"body":"much older, right? And it's, I"},{"speaker":"Unknown","startTime":494.41,"endTime":500.29,"body":"can safely say that it's in, in"},{"speaker":"Unknown","startTime":500.35,"endTime":504.22,"body":"heavily very different. Yes,"},{"speaker":"Unknown","startTime":500.35,"endTime":504.22,"body":"maybe in terms of culture,"},{"speaker":"Unknown","startTime":504.22,"endTime":508.45,"body":"Shopee and Lazada is kind of the"},{"speaker":"Unknown","startTime":504.22,"endTime":508.45,"body":"same, even though in terms of"},{"speaker":"Unknown","startTime":508.45,"endTime":513.22,"body":"mindset was versus SMD, a bit"},{"speaker":"Unknown","startTime":508.45,"endTime":513.22,"body":"more conservative, and really"},{"speaker":"Unknown","startTime":513.22,"endTime":515.5,"body":"looking, you know, things like"},{"speaker":"Unknown","startTime":513.22,"endTime":515.5,"body":"profitability, and not"},{"speaker":"Unknown","startTime":515.5,"endTime":517.9,"body":"necessarily top line growth in"},{"speaker":"Unknown","startTime":515.5,"endTime":517.9,"body":"pursuit of higher valuation"},{"speaker":"Unknown","startTime":517.93,"endTime":522.07,"body":"stock markets, right. And just"},{"speaker":"Unknown","startTime":517.93,"endTime":522.07,"body":"the way of doing things is"},{"speaker":"Unknown","startTime":522.58,"endTime":525.82,"body":"extremely different between the"},{"speaker":"Unknown","startTime":522.58,"endTime":525.82,"body":"two companies. I'm not going to"},{"speaker":"Unknown","startTime":525.82,"endTime":528.88,"body":"lie and I would say that, you"},{"speaker":"Unknown","startTime":525.82,"endTime":528.88,"body":"know, I don't I don't, you know,"},{"speaker":"Unknown","startTime":528.88,"endTime":532.99,"body":"I applaud it. But the pandemic"},{"speaker":"Unknown","startTime":528.88,"endTime":532.99,"body":"did help my case whereby SM took"},{"speaker":"Unknown","startTime":533.05,"endTime":535.78,"body":"digitalization a lot more"},{"speaker":"Unknown","startTime":533.05,"endTime":535.78,"body":"seriously and that gives me free"},{"speaker":"Unknown","startTime":535.78,"endTime":541.0,"body":"hand because I think if SM"},{"speaker":"Unknown","startTime":535.78,"endTime":541.0,"body":"digital were to embark on its"},{"speaker":"Unknown","startTime":541.09,"endTime":545.5,"body":"journey, in the old way of doing"},{"speaker":"Unknown","startTime":541.09,"endTime":545.5,"body":"SM things, where it's a bit more"},{"speaker":"Unknown","startTime":545.5,"endTime":548.59,"body":"rigid, I don't think will be of"},{"speaker":"Unknown","startTime":545.5,"endTime":548.59,"body":"the essence, especially when"},{"speaker":"Unknown","startTime":548.59,"endTime":551.05,"body":"you're trying to attempt a"},{"speaker":"Unknown","startTime":548.59,"endTime":551.05,"body":"business model has never been"},{"speaker":"Unknown","startTime":551.05,"endTime":554.29,"body":"done before. That's not"},{"speaker":"Unknown","startTime":551.05,"endTime":554.29,"body":"necessarily a mindset that it's"},{"speaker":"Unknown","startTime":554.32,"endTime":558.43,"body":"very inherent in conglomerates,"},{"speaker":"Unknown","startTime":554.32,"endTime":558.43,"body":"right? Versus Lazada and Shopee"},{"speaker":"Unknown","startTime":558.52,"endTime":560.83,"body":"is probably like, the new kid on"},{"speaker":"Unknown","startTime":558.52,"endTime":560.83,"body":"the block when it comes to"},{"speaker":"Unknown","startTime":560.83,"endTime":563.98,"body":"media, you know, or digital and"},{"speaker":"Unknown","startTime":560.83,"endTime":563.98,"body":"tech savvy, you know, and then"},{"speaker":"Unknown","startTime":563.98,"endTime":569.62,"body":"mindset, you know, it's fast,"},{"speaker":"Unknown","startTime":563.98,"endTime":569.62,"body":"you know, speaking execution. I"},{"speaker":"Unknown","startTime":569.62,"endTime":571.9,"body":"wouldn't say burn burn money,"},{"speaker":"Unknown","startTime":569.62,"endTime":571.9,"body":"but, you know, at some point in"},{"speaker":"Unknown","startTime":571.9,"endTime":574.75,"body":"time, if you want to buy, you do"},{"speaker":"Unknown","startTime":571.9,"endTime":574.75,"body":"have to burn money, right? So"},{"speaker":"Unknown","startTime":574.84,"endTime":578.2,"body":"we're not there to burn money"},{"speaker":"Unknown","startTime":574.84,"endTime":578.2,"body":"for Ansem. It's to come up with"},{"speaker":"Unknown","startTime":578.2,"endTime":581.86,"body":"something sustainable, that that"},{"speaker":"Unknown","startTime":578.2,"endTime":581.86,"body":"adds value to people's life. And"},{"speaker":"Unknown","startTime":581.89,"endTime":584.86,"body":"I guess in that sense, that's"},{"speaker":"Unknown","startTime":581.89,"endTime":584.86,"body":"where it's extremely different."},{"speaker":"Unknown","startTime":586.15,"endTime":590.44,"body":"But it's some but in in terms of"},{"speaker":"Unknown","startTime":586.15,"endTime":590.44,"body":"similarities, I would say you"},{"speaker":"Unknown","startTime":590.44,"endTime":593.47,"body":"know, I had the privilege with"},{"speaker":"Unknown","startTime":590.44,"endTime":593.47,"body":"dealing with certain"},{"speaker":"Unknown","startTime":593.47,"endTime":596.29,"body":"stakeholders SM and they are"},{"speaker":"Unknown","startTime":593.47,"endTime":596.29,"body":"among the younger generation."},{"speaker":"Unknown","startTime":596.29,"endTime":599.98,"body":"It's a privilege to work with"},{"speaker":"Unknown","startTime":596.29,"endTime":599.98,"body":"them and they also understand"},{"speaker":"Unknown","startTime":600.04,"endTime":603.58,"body":"and some of them study abroad."},{"speaker":"Unknown","startTime":600.04,"endTime":603.58,"body":"And they actually, you know,"},{"speaker":"Unknown","startTime":603.58,"endTime":609.76,"body":"have come to experience the"},{"speaker":"Unknown","startTime":603.58,"endTime":609.76,"body":"likes of Amazon and other"},{"speaker":"Unknown","startTime":610.24,"endTime":614.02,"body":"platforms like Uber, before he"},{"speaker":"Unknown","startTime":610.24,"endTime":614.02,"body":"left Philippines, right. And so"},{"speaker":"Unknown","startTime":614.02,"endTime":618.88,"body":"they actually understand what it"},{"speaker":"Unknown","startTime":614.02,"endTime":618.88,"body":"actually takes to actually do SM"},{"speaker":"Unknown","startTime":618.88,"endTime":623.8,"body":"digital. And in that sense, the"},{"speaker":"Unknown","startTime":618.88,"endTime":623.8,"body":"similarities was really more"},{"speaker":"Unknown","startTime":623.8,"endTime":626.86,"body":"than support, you know, to try"},{"speaker":"Unknown","startTime":623.8,"endTime":626.86,"body":"new things and understand that"},{"speaker":"Unknown","startTime":626.86,"endTime":632.59,"body":"at some point in time, you might"},{"speaker":"Unknown","startTime":626.86,"endTime":632.59,"body":"fail right. And they've been,"},{"speaker":"Unknown","startTime":632.65,"endTime":635.71,"body":"but you're not like, just burn"},{"speaker":"Unknown","startTime":632.65,"endTime":635.71,"body":"money, you know, and try to"},{"speaker":"Unknown","startTime":635.71,"endTime":637.87,"body":"figure out, like, we could take"},{"speaker":"Unknown","startTime":635.71,"endTime":637.87,"body":"care of a slower pace, but"},{"speaker":"Unknown","startTime":637.87,"endTime":642.64,"body":"really find a fit. And that's"},{"speaker":"Unknown","startTime":637.87,"endTime":642.64,"body":"where the similarities, you"},{"speaker":"Unknown","startTime":642.64,"endTime":646.18,"body":"know, between the old and new,"},{"speaker":"Unknown","startTime":642.64,"endTime":646.18,"body":"we came to a halfway point. And"},{"speaker":"Unknown","startTime":646.21,"endTime":648.82,"body":"I think that has really"},{"speaker":"Unknown","startTime":646.21,"endTime":648.82,"body":"tremendously helped my case. And"},{"speaker":"Unknown","startTime":648.82,"endTime":649.63,"body":"that's why I would say,"},{"speaker":"Irza Suprapto","startTime":650.46,"endTime":652.56,"body":"and yeah, it's a"},{"speaker":"Irza Suprapto","startTime":650.46,"endTime":652.56,"body":"good point that you made about,"},{"speaker":"Irza Suprapto","startTime":652.56,"endTime":655.74,"body":"you know, the, the COVID period,"},{"speaker":"Irza Suprapto","startTime":652.56,"endTime":655.74,"body":"obviously, the malls were empty"},{"speaker":"Irza Suprapto","startTime":655.74,"endTime":659.52,"body":"Philippines, I believe at one of"},{"speaker":"Irza Suprapto","startTime":655.74,"endTime":659.52,"body":"the toughest and longest lock"},{"speaker":"Irza Suprapto","startTime":659.52,"endTime":662.97,"body":"downs during the entire COVID."},{"speaker":"Irza Suprapto","startTime":659.52,"endTime":662.97,"body":"Period. So obviously, nobody was"},{"speaker":"Irza Suprapto","startTime":662.97,"endTime":667.65,"body":"shopping around and malls. When"},{"speaker":"Irza Suprapto","startTime":662.97,"endTime":667.65,"body":"exactly did you start with SM"},{"speaker":"Irza Suprapto","startTime":667.65,"endTime":667.98,"body":"Daniel?"},{"speaker":"Unknown","startTime":668.7,"endTime":672.9,"body":"Yeah, so I started SM,"},{"speaker":"Unknown","startTime":668.7,"endTime":672.9,"body":"like, January 2020, was like two"},{"speaker":"Unknown","startTime":672.9,"endTime":673.92,"body":"to three months. That's right."},{"speaker":"Irza Suprapto","startTime":674.79,"endTime":675.69,"body":"Perfect timing."},{"speaker":"Unknown","startTime":675.0,"endTime":679.68,"body":"I would say it was"},{"speaker":"Unknown","startTime":675.0,"endTime":679.68,"body":"perfect timing wise, it helped"},{"speaker":"Unknown","startTime":679.68,"endTime":683.25,"body":"my case. But it also was"},{"speaker":"Unknown","startTime":679.68,"endTime":683.25,"body":"tremendously difficult. Because"},{"speaker":"Unknown","startTime":683.55,"endTime":687.69,"body":"when doing that COVID period,"},{"speaker":"Unknown","startTime":683.55,"endTime":687.69,"body":"when valuations from all Tech"},{"speaker":"Unknown","startTime":687.69,"endTime":691.32,"body":"startuops were sky high. And"},{"speaker":"Unknown","startTime":687.69,"endTime":691.32,"body":"they were just like raising cash"},{"speaker":"Unknown","startTime":691.32,"endTime":695.85,"body":"at valuations that were too rich"},{"speaker":"Unknown","startTime":691.32,"endTime":695.85,"body":"in nature, it's very hard for"},{"speaker":"Unknown","startTime":695.85,"endTime":698.73,"body":"you to get the talent that you"},{"speaker":"Unknown","startTime":695.85,"endTime":698.73,"body":"need when they are being"},{"speaker":"Unknown","startTime":698.79,"endTime":702.81,"body":"compensated twice the amount,"},{"speaker":"Unknown","startTime":698.79,"endTime":702.81,"body":"this kind of technology"},{"speaker":"Unknown","startTime":702.81,"endTime":706.62,"body":"platforms and was extremely hard"},{"speaker":"Unknown","startTime":702.81,"endTime":706.62,"body":"to sell something that I didn't"},{"speaker":"Unknown","startTime":706.62,"endTime":710.61,"body":"have, because afterall, though I"},{"speaker":"Unknown","startTime":706.62,"endTime":710.61,"body":"had a working app at some point."},{"speaker":"Unknown","startTime":710.61,"endTime":714.06,"body":"But it was not something that"},{"speaker":"Unknown","startTime":710.61,"endTime":714.06,"body":"you know, it was more of a MVP,"},{"speaker":"Unknown","startTime":714.15,"endTime":717.54,"body":"a minimum viable product,"},{"speaker":"Unknown","startTime":714.15,"endTime":717.54,"body":"compared to incumbent mature"},{"speaker":"Unknown","startTime":717.57,"endTime":721.59,"body":"technology apps like Grab,"},{"speaker":"Unknown","startTime":717.57,"endTime":721.59,"body":"Lazada, Shopee, and so forth."},{"speaker":"Unknown","startTime":721.59,"endTime":726.0,"body":"Right. So it was a lot harder to"},{"speaker":"Unknown","startTime":721.59,"endTime":726.0,"body":"sell vision when you don't have"},{"speaker":"Unknown","startTime":726.03,"endTime":730.5,"body":"a working product for them to"},{"speaker":"Unknown","startTime":726.03,"endTime":730.5,"body":"actually see. And of course,"},{"speaker":"Unknown","startTime":730.5,"endTime":732.75,"body":"from a branding standpoint, you"},{"speaker":"Unknown","startTime":730.5,"endTime":732.75,"body":"would rather you know, join"},{"speaker":"Unknown","startTime":732.75,"endTime":736.62,"body":"startups who were raising among"},{"speaker":"Unknown","startTime":732.75,"endTime":736.62,"body":"a large amount of cash or this"},{"speaker":"Unknown","startTime":736.8,"endTime":741.93,"body":"mature technology platforms"},{"speaker":"Unknown","startTime":736.8,"endTime":741.93,"body":"versus SM so yeah, so it was a"},{"speaker":"Unknown","startTime":741.93,"endTime":746.13,"body":"very, it was it didn't help my"},{"speaker":"Unknown","startTime":741.93,"endTime":746.13,"body":"case. But on the cons was not"},{"speaker":"Unknown","startTime":746.7,"endTime":750.09,"body":"easy at all. I think it's just"},{"speaker":"Unknown","startTime":746.7,"endTime":750.09,"body":"by God's grace, you know, I made"},{"speaker":"Unknown","startTime":750.09,"endTime":757.14,"body":"certain decisions. That really"},{"speaker":"Unknown","startTime":750.09,"endTime":757.14,"body":"helped me create some form of"},{"speaker":"Unknown","startTime":757.68,"endTime":761.82,"body":"buffer safety net bit of"},{"speaker":"Unknown","startTime":757.68,"endTime":761.82,"body":"advantage. And then I took it"},{"speaker":"Unknown","startTime":762.21,"endTime":766.56,"body":"one day at a time and then bit"},{"speaker":"Unknown","startTime":762.21,"endTime":766.56,"body":"by bit eventually, it came to"},{"speaker":"Unknown","startTime":766.56,"endTime":768.45,"body":"fruition. And that's pretty much"},{"speaker":"Unknown","startTime":766.56,"endTime":768.45,"body":"I would say,"},{"speaker":"Irza Suprapto","startTime":769.14,"endTime":771.12,"body":"Yeah, I mean, you"},{"speaker":"Irza Suprapto","startTime":769.14,"endTime":771.12,"body":"must have done something right."},{"speaker":"Irza Suprapto","startTime":771.12,"endTime":774.63,"body":"Because last year, you guys"},{"speaker":"Irza Suprapto","startTime":771.12,"endTime":774.63,"body":"actually won the ASEAN"},{"speaker":"Irza Suprapto","startTime":774.96,"endTime":776.94,"body":"innovation awards that were"},{"speaker":"Irza Suprapto","startTime":774.96,"endTime":776.94,"body":"given out in the Philippines."},{"speaker":"Irza Suprapto","startTime":777.45,"endTime":779.82,"body":"But speaking about that, as"},{"speaker":"Irza Suprapto","startTime":777.45,"endTime":779.82,"body":"well, you know, since since"},{"speaker":"Irza Suprapto","startTime":779.82,"endTime":783.09,"body":"February 22, you mentioned"},{"speaker":"Irza Suprapto","startTime":779.82,"endTime":783.09,"body":"you've taken it day by day,"},{"speaker":"Irza Suprapto","startTime":783.09,"endTime":787.68,"body":"you've grown little by little"},{"speaker":"Irza Suprapto","startTime":783.09,"endTime":787.68,"body":"what, what were the key metrics"},{"speaker":"Irza Suprapto","startTime":787.68,"endTime":789.54,"body":"you were watching, you know,"},{"speaker":"Irza Suprapto","startTime":787.68,"endTime":789.54,"body":"when you were first starting"},{"speaker":"Irza Suprapto","startTime":789.54,"endTime":794.7,"body":"out, and now about what it's"},{"speaker":"Irza Suprapto","startTime":789.54,"endTime":794.7,"body":"been wanting to do? This is the"},{"speaker":"Irza Suprapto","startTime":794.7,"endTime":797.49,"body":"year right, you just completed"},{"speaker":"Irza Suprapto","startTime":794.7,"endTime":797.49,"body":"your third year. So have the"},{"speaker":"Irza Suprapto","startTime":797.49,"endTime":800.46,"body":"metrics changed over the years?"},{"speaker":"Irza Suprapto","startTime":797.49,"endTime":800.46,"body":"What were the things you were"},{"speaker":"Irza Suprapto","startTime":800.46,"endTime":803.04,"body":"looking out for when you were"},{"speaker":"Irza Suprapto","startTime":800.46,"endTime":803.04,"body":"starting this out? Versus like"},{"speaker":"Irza Suprapto","startTime":803.04,"endTime":805.95,"body":"now? What are your priorities"},{"speaker":"Irza Suprapto","startTime":803.04,"endTime":805.95,"body":"and what metrics you are"},{"speaker":"Irza Suprapto","startTime":805.95,"endTime":806.64,"body":"focusing on?"},{"speaker":"Unknown","startTime":807.11,"endTime":811.34,"body":"Okay, sure. I think so"},{"speaker":"Unknown","startTime":807.11,"endTime":811.34,"body":"I would say, I think that yes,"},{"speaker":"Unknown","startTime":811.34,"endTime":815.81,"body":"where I joined, join us and but"},{"speaker":"Unknown","startTime":811.34,"endTime":815.81,"body":"you know, when we had a really a"},{"speaker":"Unknown","startTime":815.81,"endTime":823.7,"body":"working product, you know, that"},{"speaker":"Unknown","startTime":815.81,"endTime":823.7,"body":"you could actually show? What's"},{"speaker":"Unknown","startTime":823.7,"endTime":828.89,"body":"the main meat of 2021? Right? We"},{"speaker":"Unknown","startTime":823.7,"endTime":828.89,"body":"had a really, really basic MVP"},{"speaker":"Unknown","startTime":828.89,"endTime":835.25,"body":"somewhere in q4 2020. And, but"},{"speaker":"Unknown","startTime":828.89,"endTime":835.25,"body":"it was mostly off the shelf"},{"speaker":"Unknown","startTime":835.76,"endTime":839.51,"body":"software, or third party"},{"speaker":"Unknown","startTime":835.76,"endTime":839.51,"body":"providers, which I will just"},{"speaker":"Unknown","startTime":839.51,"endTime":843.68,"body":"take an opportunity to tell your"},{"speaker":"Unknown","startTime":839.51,"endTime":843.68,"body":"audience if you have business"},{"speaker":"Unknown","startTime":843.68,"endTime":846.44,"body":"model your core systems is"},{"speaker":"Unknown","startTime":843.68,"endTime":846.44,"body":"something you should always do"},{"speaker":"Unknown","startTime":846.44,"endTime":849.17,"body":"in house and everything else is"},{"speaker":"Unknown","startTime":846.44,"endTime":849.17,"body":"secondary systems, you can"},{"speaker":"Unknown","startTime":849.2,"endTime":851.9,"body":"outsource it. So I think that"},{"speaker":"Unknown","startTime":849.2,"endTime":851.9,"body":"was a mistake I made. I should"},{"speaker":"Unknown","startTime":851.93,"endTime":854.21,"body":"build it in house from the very"},{"speaker":"Unknown","startTime":851.93,"endTime":854.21,"body":"start. But then again, as I"},{"speaker":"Unknown","startTime":854.21,"endTime":857.3,"body":"mentioned, not many technology"},{"speaker":"Unknown","startTime":854.21,"endTime":857.3,"body":"developers which was highly in"},{"speaker":"Unknown","startTime":857.3,"endTime":860.45,"body":"demand during that period,"},{"speaker":"Unknown","startTime":857.3,"endTime":860.45,"body":"wanted to join SMS as opposed to"},{"speaker":"Unknown","startTime":860.45,"endTime":864.95,"body":"you know other technology"},{"speaker":"Unknown","startTime":860.45,"endTime":864.95,"body":"startups right. So But anyway, I"},{"speaker":"Unknown","startTime":864.95,"endTime":868.85,"body":"think there was one thing that"},{"speaker":"Unknown","startTime":864.95,"endTime":868.85,"body":"caught up to us, I think the one"},{"speaker":"Unknown","startTime":869.0,"endTime":872.36,"body":"so I will just give us some"},{"speaker":"Unknown","startTime":869.0,"endTime":872.36,"body":"context. SM digital are"},{"speaker":"Unknown","startTime":872.36,"endTime":875.69,"body":"basically shopping malls"},{"speaker":"Unknown","startTime":872.36,"endTime":875.69,"body":"comprises of many services to"},{"speaker":"Unknown","startTime":875.69,"endTime":880.34,"body":"the average Filipino from food,"},{"speaker":"Unknown","startTime":875.69,"endTime":880.34,"body":"restaurants, you have a cinema,"},{"speaker":"Unknown","startTime":880.64,"endTime":882.98,"body":"you have your jam merchandise,"},{"speaker":"Unknown","startTime":880.64,"endTime":882.98,"body":"like the department store, you"},{"speaker":"Unknown","startTime":882.98,"endTime":886.43,"body":"have your groceries and so"},{"speaker":"Unknown","startTime":882.98,"endTime":886.43,"body":"forth, right. But you could it's"},{"speaker":"Unknown","startTime":886.43,"endTime":888.68,"body":"not something that you should"},{"speaker":"Unknown","startTime":886.43,"endTime":888.68,"body":"attack the market all at once,"},{"speaker":"Unknown","startTime":888.68,"endTime":892.28,"body":"right? And although we tried to"},{"speaker":"Unknown","startTime":888.68,"endTime":892.28,"body":"throw spaghetti at the wall and"},{"speaker":"Unknown","startTime":892.28,"endTime":896.72,"body":"see what's stick, the only one"},{"speaker":"Unknown","startTime":892.28,"endTime":896.72,"body":"that at that time when we first"},{"speaker":"Unknown","startTime":896.72,"endTime":902.06,"body":"launched we saw that stuff was"},{"speaker":"Unknown","startTime":896.72,"endTime":902.06,"body":"actually pertaining to organic"},{"speaker":"Unknown","startTime":902.06,"endTime":905.21,"body":"growth rate and retention for"},{"speaker":"Unknown","startTime":902.06,"endTime":905.21,"body":"food delivery business"},{"speaker":"Unknown","startTime":905.57,"endTime":907.94,"body":"pertaining to multiple"},{"speaker":"Unknown","startTime":905.57,"endTime":907.94,"body":"restaurants in a single"},{"speaker":"Unknown","startTime":907.94,"endTime":912.29,"body":"delivery. And most of our"},{"speaker":"Unknown","startTime":907.94,"endTime":912.29,"body":"customers segment were two"},{"speaker":"Unknown","startTime":912.29,"endTime":915.77,"body":"types. One were office workers"},{"speaker":"Unknown","startTime":912.29,"endTime":915.77,"body":"who eat together. And the second"},{"speaker":"Unknown","startTime":915.77,"endTime":918.86,"body":"one was probably young families"},{"speaker":"Unknown","startTime":915.77,"endTime":918.86,"body":"or young mothers with kids. You"},{"speaker":"Unknown","startTime":918.86,"endTime":921.05,"body":"know, mom gets a salad and then"},{"speaker":"Unknown","startTime":918.86,"endTime":921.05,"body":"the kids gets, you know, their"},{"speaker":"Unknown","startTime":921.05,"endTime":927.02,"body":"password. So I think that that"},{"speaker":"Unknown","startTime":921.05,"endTime":927.02,"body":"was the one matric stuck. When"},{"speaker":"Unknown","startTime":927.05,"endTime":932.96,"body":"it was when we did our initial"},{"speaker":"Unknown","startTime":927.05,"endTime":932.96,"body":"launch of 100, orders, only 13%"},{"speaker":"Unknown","startTime":932.99,"endTime":937.19,"body":"was multiple restaurants as a"},{"speaker":"Unknown","startTime":932.99,"endTime":937.19,"body":"single delivery. But over time"},{"speaker":"Unknown","startTime":937.19,"endTime":940.58,"body":"as the company progress, we"},{"speaker":"Unknown","startTime":937.19,"endTime":940.58,"body":"actually noticed that number"},{"speaker":"Unknown","startTime":940.58,"endTime":943.52,"body":"growing more and more to where"},{"speaker":"Unknown","startTime":940.58,"endTime":943.52,"body":"it is today, which is about 80"},{"speaker":"Unknown","startTime":943.7,"endTime":949.61,"body":"plus percent. So that was our"},{"speaker":"Unknown","startTime":943.7,"endTime":949.61,"body":"the best acquisition costs in"},{"speaker":"Unknown","startTime":949.61,"endTime":952.79,"body":"comparison to the industry"},{"speaker":"Unknown","startTime":949.61,"endTime":952.79,"body":"benchmark. better retention rate"},{"speaker":"Unknown","startTime":952.79,"endTime":959.0,"body":"as well. And ABS was because I"},{"speaker":"Unknown","startTime":952.79,"endTime":959.0,"body":"mean, your fixed your delivery"},{"speaker":"Unknown","startTime":959.0,"endTime":963.32,"body":"fees or riders is a fixed fee"},{"speaker":"Unknown","startTime":959.0,"endTime":963.32,"body":"where they deliver $1 or 100 US"},{"speaker":"Unknown","startTime":963.32,"endTime":967.19,"body":"dollars, for the food, it's the"},{"speaker":"Unknown","startTime":963.32,"endTime":967.19,"body":"same rider, right. So it was a"},{"speaker":"Unknown","startTime":967.19,"endTime":970.49,"body":"better. I mean, from a"},{"speaker":"Unknown","startTime":967.19,"endTime":970.49,"body":"sustainability point standpoint,"},{"speaker":"Unknown","startTime":970.49,"endTime":973.82,"body":"from an ABS perspective, or"},{"speaker":"Unknown","startTime":970.49,"endTime":973.82,"body":"average basket size, it just, it"},{"speaker":"Unknown","startTime":973.82,"endTime":979.07,"body":"just made much better sense. And"},{"speaker":"Unknown","startTime":973.82,"endTime":979.07,"body":"so that grew, I think doing we"},{"speaker":"Unknown","startTime":979.07,"endTime":982.46,"body":"also saw that when it comes to"},{"speaker":"Unknown","startTime":979.07,"endTime":982.46,"body":"things that Lazada and Shopee"},{"speaker":"Unknown","startTime":982.46,"endTime":986.6,"body":"could not sell, at least they"},{"speaker":"Unknown","startTime":982.46,"endTime":986.6,"body":"could but it will not arrive on"},{"speaker":"Unknown","startTime":986.6,"endTime":989.39,"body":"time was the likes of medicine,"},{"speaker":"Unknown","startTime":986.6,"endTime":989.39,"body":"or essentials during the COVID"},{"speaker":"Unknown","startTime":989.39,"endTime":993.95,"body":"period. So that was another"},{"speaker":"Unknown","startTime":989.39,"endTime":993.95,"body":"thing that we saw. We did see"},{"speaker":"Unknown","startTime":993.95,"endTime":998.06,"body":"high priced items, although most"},{"speaker":"Unknown","startTime":993.95,"endTime":998.06,"body":"of it is purchase from the app,"},{"speaker":"Unknown","startTime":998.06,"endTime":1000.67,"body":"but they go to the store to pick"},{"speaker":"Unknown","startTime":998.06,"endTime":1000.67,"body":"it up, you know, one last final"},{"speaker":"Unknown","startTime":1000.67,"endTime":1004.39,"body":"check, before they actually make"},{"speaker":"Unknown","startTime":1000.67,"endTime":1004.39,"body":"payment. So there was some"},{"speaker":"Unknown","startTime":1004.42,"endTime":1006.67,"body":"bright spots that we saw. And"},{"speaker":"Unknown","startTime":1004.42,"endTime":1006.67,"body":"those were the things that grew"},{"speaker":"Unknown","startTime":1006.67,"endTime":1010.57,"body":"organically, and that's when we"},{"speaker":"Unknown","startTime":1006.67,"endTime":1010.57,"body":"double down. And then pertaining"},{"speaker":"Unknown","startTime":1010.57,"endTime":1013.3,"body":"to all the assets like cinema, I"},{"speaker":"Unknown","startTime":1010.57,"endTime":1013.3,"body":"mean, it was COVID or anyone"},{"speaker":"Unknown","startTime":1013.3,"endTime":1020.59,"body":"watching movies, online, concert"},{"speaker":"Unknown","startTime":1013.3,"endTime":1020.59,"body":"tickets and all this, I thought"},{"speaker":"Unknown","startTime":1020.59,"endTime":1023.5,"body":"those were assets that were only"},{"speaker":"Unknown","startTime":1020.59,"endTime":1023.5,"body":"inherently exclusive to SM and"},{"speaker":"Unknown","startTime":1023.5,"endTime":1026.95,"body":"that was something I could do it"},{"speaker":"Unknown","startTime":1023.5,"endTime":1026.95,"body":"down the line. Same goes for"},{"speaker":"Unknown","startTime":1026.95,"endTime":1030.64,"body":"groceries, you know, which is"},{"speaker":"Unknown","startTime":1026.95,"endTime":1030.64,"body":"something I don't believe any"},{"speaker":"Unknown","startTime":1030.79,"endTime":1036.28,"body":"player has done with that. So I"},{"speaker":"Unknown","startTime":1030.79,"endTime":1036.28,"body":"those were the I think food"},{"speaker":"Unknown","startTime":1036.28,"endTime":1040.87,"body":"delivery essentials and high"},{"speaker":"Unknown","startTime":1036.28,"endTime":1040.87,"body":"priced goods were the initial"},{"speaker":"Unknown","startTime":1040.87,"endTime":1043.51,"body":"focus. When we started, like I"},{"speaker":"Unknown","startTime":1040.87,"endTime":1043.51,"body":"said, we threw spaghetti in the"},{"speaker":"Unknown","startTime":1043.51,"endTime":1044.95,"body":"wall, and then we saw the"},{"speaker":"Unknown","startTime":1043.51,"endTime":1044.95,"body":"organic growth."},{"speaker":"Irza Suprapto","startTime":1047.35,"endTime":1050.59,"body":"Okay, so you did"},{"speaker":"Irza Suprapto","startTime":1047.35,"endTime":1050.59,"body":"have because of historical"},{"speaker":"Irza Suprapto","startTime":1050.59,"endTime":1054.01,"body":"businesses, this gave you some,"},{"speaker":"Irza Suprapto","startTime":1050.59,"endTime":1054.01,"body":"as you mentioned, bright spots"},{"speaker":"Irza Suprapto","startTime":1054.04,"endTime":1057.94,"body":"for which you could focus on and"},{"speaker":"Irza Suprapto","startTime":1054.04,"endTime":1057.94,"body":"from the base of your growth"},{"speaker":"Irza Suprapto","startTime":1057.97,"endTime":1062.95,"body":"eventually, right. So if we look"},{"speaker":"Irza Suprapto","startTime":1057.97,"endTime":1062.95,"body":"at, you know, organizational"},{"speaker":"Irza Suprapto","startTime":1062.95,"endTime":1066.73,"body":"growth as SMS business as a"},{"speaker":"Irza Suprapto","startTime":1062.95,"endTime":1066.73,"body":"small online business versus"},{"speaker":"Irza Suprapto","startTime":1066.73,"endTime":1070.72,"body":"say, the Lazada or the Shopees,"},{"speaker":"Irza Suprapto","startTime":1066.73,"endTime":1070.72,"body":"or even what are the most"},{"speaker":"Irza Suprapto","startTime":1070.72,"endTime":1073.33,"body":"popular food delivery apps in"},{"speaker":"Irza Suprapto","startTime":1070.72,"endTime":1073.33,"body":"the Philippines?"},{"speaker":"Unknown","startTime":1074.14,"endTime":1077.92,"body":"I think we still be"},{"speaker":"Unknown","startTime":1074.14,"endTime":1077.92,"body":"grateful and food vendor. Yeah,"},{"speaker":"Unknown","startTime":1078.04,"endTime":1081.28,"body":"I mean, again, they they have"},{"speaker":"Unknown","startTime":1078.04,"endTime":1081.28,"body":"way more restaurants on the"},{"speaker":"Unknown","startTime":1081.28,"endTime":1084.82,"body":"platform than the number of"},{"speaker":"Unknown","startTime":1081.28,"endTime":1084.82,"body":"restaurants in total as as the"},{"speaker":"Unknown","startTime":1084.82,"endTime":1089.29,"body":"most right. Lane right. Yeah. So"},{"speaker":"Unknown","startTime":1084.82,"endTime":1089.29,"body":"I mean, these are the two major"},{"speaker":"Unknown","startTime":1089.29,"endTime":1092.29,"body":"players for food delivery. Not"},{"speaker":"Unknown","startTime":1089.29,"endTime":1092.29,"body":"going to contest that. Yeah,"},{"speaker":"Irza Suprapto","startTime":1092.38,"endTime":1094.54,"body":"yeah. So but but"},{"speaker":"Irza Suprapto","startTime":1092.38,"endTime":1094.54,"body":"it was interesting, because the"},{"speaker":"Irza Suprapto","startTime":1094.54,"endTime":1097.78,"body":"value proposition for you with"},{"speaker":"Irza Suprapto","startTime":1094.54,"endTime":1097.78,"body":"your product is a little bit"},{"speaker":"Irza Suprapto","startTime":1097.78,"endTime":1100.09,"body":"different. Right. As you"},{"speaker":"Irza Suprapto","startTime":1097.78,"endTime":1100.09,"body":"mentioned earlier, it was meant"},{"speaker":"Irza Suprapto","startTime":1100.09,"endTime":1106.0,"body":"to complement the business of"},{"speaker":"Irza Suprapto","startTime":1100.09,"endTime":1106.0,"body":"the physical models of SM. Where"},{"speaker":"Irza Suprapto","startTime":1106.0,"endTime":1106.96,"body":"do you go from here, though?"},{"speaker":"Unknown","startTime":1108.94,"endTime":1113.92,"body":"So like I said, Well,"},{"speaker":"Unknown","startTime":1108.94,"endTime":1113.92,"body":"we're still double downing on"},{"speaker":"Unknown","startTime":1113.92,"endTime":1117.55,"body":"the areas that we found the"},{"speaker":"Unknown","startTime":1113.92,"endTime":1117.55,"body":"bright spots, it's, and it's"},{"speaker":"Unknown","startTime":1117.55,"endTime":1124.03,"body":"probably niches that SM does not"},{"speaker":"Unknown","startTime":1117.55,"endTime":1124.03,"body":"inherently control exclusive to"},{"speaker":"Unknown","startTime":1124.03,"endTime":1129.01,"body":"them, like food. But I think"},{"speaker":"Unknown","startTime":1124.03,"endTime":1129.01,"body":"looking at our product roadmap,"},{"speaker":"Unknown","startTime":1129.04,"endTime":1132.73,"body":"we're pretty much almost done."},{"speaker":"Unknown","startTime":1129.04,"endTime":1132.73,"body":"Although we know that like you"},{"speaker":"Unknown","startTime":1132.73,"endTime":1135.43,"body":"can't beat Lazada and Shopee"},{"speaker":"Unknown","startTime":1132.73,"endTime":1135.43,"body":"because 90% of the products are"},{"speaker":"Unknown","startTime":1135.43,"endTime":1138.52,"body":"non branded, which SM doesn't"},{"speaker":"Unknown","startTime":1135.43,"endTime":1138.52,"body":"sell and half of its from China,"},{"speaker":"Unknown","startTime":1138.52,"endTime":1141.01,"body":"right? So it's a totally"},{"speaker":"Unknown","startTime":1138.52,"endTime":1141.01,"body":"different ballgame altogether."},{"speaker":"Unknown","startTime":1141.55,"endTime":1146.29,"body":"So there are certain brightspot"},{"speaker":"Unknown","startTime":1141.55,"endTime":1146.29,"body":"that SM initially does not have,"},{"speaker":"Unknown","startTime":1146.86,"endTime":1151.12,"body":"which I will try to do first and"},{"speaker":"Unknown","startTime":1146.86,"endTime":1151.12,"body":"then that's something I'll"},{"speaker":"Unknown","startTime":1151.12,"endTime":1156.01,"body":"expound on in the later years."},{"speaker":"Unknown","startTime":1151.12,"endTime":1156.01,"body":"But moving forward, especially"},{"speaker":"Unknown","startTime":1156.01,"endTime":1159.64,"body":"in q3 of this year, is very"},{"speaker":"Unknown","startTime":1156.01,"endTime":1159.64,"body":"likely we start consolidating"},{"speaker":"Unknown","startTime":1159.64,"endTime":1162.79,"body":"all the other assets that we"},{"speaker":"Unknown","startTime":1159.64,"endTime":1162.79,"body":"initially put on hold on"},{"speaker":"Unknown","startTime":1162.79,"endTime":1167.35,"body":"cinemas, or our tickets, you"},{"speaker":"Unknown","startTime":1162.79,"endTime":1167.35,"body":"know, our dining reservations,"},{"speaker":"Unknown","startTime":1167.35,"endTime":1171.07,"body":"our geolocation in our CRM"},{"speaker":"Unknown","startTime":1167.35,"endTime":1171.07,"body":"targeting, you know, when you"},{"speaker":"Unknown","startTime":1171.07,"endTime":1173.92,"body":"walk into the mall, you're gonna"},{"speaker":"Unknown","startTime":1171.07,"endTime":1173.92,"body":"get an in app notification to"},{"speaker":"Unknown","startTime":1174.19,"endTime":1176.95,"body":"the store deal that's really"},{"speaker":"Unknown","startTime":1174.19,"endTime":1176.95,"body":"relevant to you based on"},{"speaker":"Unknown","startTime":1176.95,"endTime":1180.4,"body":"history. So things that really"},{"speaker":"Unknown","startTime":1176.95,"endTime":1180.4,"body":"complements the in my"},{"speaker":"Unknown","startTime":1180.4,"endTime":1183.94,"body":"experience, right to drive more"},{"speaker":"Unknown","startTime":1180.4,"endTime":1183.94,"body":"foot traffic offline. And that's"},{"speaker":"Unknown","startTime":1183.94,"endTime":1186.85,"body":"something that we are looking"},{"speaker":"Unknown","startTime":1183.94,"endTime":1186.85,"body":"at, moving forward from here."},{"speaker":"Unknown","startTime":1187.15,"endTime":1191.23,"body":"And of course, I think as you"},{"speaker":"Unknown","startTime":1187.15,"endTime":1191.23,"body":"progress along any journey, you"},{"speaker":"Unknown","startTime":1191.23,"endTime":1194.62,"body":"start to notice certain"},{"speaker":"Unknown","startTime":1191.23,"endTime":1194.62,"body":"insights, and I'm not surprised"},{"speaker":"Unknown","startTime":1194.62,"endTime":1196.87,"body":"you will find more of such"},{"speaker":"Unknown","startTime":1194.62,"endTime":1196.87,"body":"insights down the line and then"},{"speaker":"Unknown","startTime":1196.87,"endTime":1199.93,"body":"that also something will expand."},{"speaker":"Unknown","startTime":1196.87,"endTime":1199.93,"body":"But that's generally the whole"},{"speaker":"Unknown","startTime":1199.93,"endTime":1202.18,"body":"The journey that we're looking"},{"speaker":"Unknown","startTime":1199.93,"endTime":1202.18,"body":"at for the next few years."},{"speaker":"Irza Suprapto","startTime":1203.2,"endTime":1206.23,"body":"Perfect. Okay."},{"speaker":"Irza Suprapto","startTime":1203.2,"endTime":1206.23,"body":"Thank you. Well, now, I want to"},{"speaker":"Irza Suprapto","startTime":1206.23,"endTime":1209.14,"body":"take a step back, you know, you"},{"speaker":"Irza Suprapto","startTime":1206.23,"endTime":1209.14,"body":"mentioned you know, previously,"},{"speaker":"Irza Suprapto","startTime":1209.14,"endTime":1213.52,"body":"you're working at Lazada shopee."},{"speaker":"Irza Suprapto","startTime":1209.14,"endTime":1213.52,"body":"And then eventually moving on to"},{"speaker":"Irza Suprapto","startTime":1213.55,"endTime":1218.74,"body":"SM, which is fairly large and"},{"speaker":"Irza Suprapto","startTime":1213.55,"endTime":1218.74,"body":"all conglomerate and the"},{"speaker":"Irza Suprapto","startTime":1218.74,"endTime":1222.64,"body":"Philippines. While you know you"},{"speaker":"Irza Suprapto","startTime":1218.74,"endTime":1222.64,"body":"have been in the Philippines for"},{"speaker":"Irza Suprapto","startTime":1222.64,"endTime":1226.06,"body":"a long time, when you join SM, I"},{"speaker":"Irza Suprapto","startTime":1222.64,"endTime":1226.06,"body":"believe what you have for years"},{"speaker":"Irza Suprapto","startTime":1227.59,"endTime":1231.01,"body":"local market experience. And"},{"speaker":"Irza Suprapto","startTime":1227.59,"endTime":1231.01,"body":"when you look at innovation"},{"speaker":"Irza Suprapto","startTime":1231.07,"endTime":1234.58,"body":"versus innovation in a firm,"},{"speaker":"Irza Suprapto","startTime":1231.07,"endTime":1234.58,"body":"let's say like Lazada, or"},{"speaker":"Irza Suprapto","startTime":1234.58,"endTime":1238.93,"body":"shopee, versus the way the large"},{"speaker":"Irza Suprapto","startTime":1234.58,"endTime":1238.93,"body":"conglomerate is viewing"},{"speaker":"Irza Suprapto","startTime":1238.96,"endTime":1243.1,"body":"innovation in the Philippines."},{"speaker":"Irza Suprapto","startTime":1238.96,"endTime":1243.1,"body":"How is innovation measured? In"},{"speaker":"Irza Suprapto","startTime":1243.22,"endTime":1246.4,"body":"SM, you mentioned SM digital"},{"speaker":"Irza Suprapto","startTime":1243.22,"endTime":1246.4,"body":"previously. So that sounds like"},{"speaker":"Irza Suprapto","startTime":1246.4,"endTime":1249.82,"body":"a pretty cool function within a"},{"speaker":"Irza Suprapto","startTime":1246.4,"endTime":1249.82,"body":"large conglomerate. How is"},{"speaker":"Irza Suprapto","startTime":1249.82,"endTime":1253.36,"body":"innovation measured? How is"},{"speaker":"Irza Suprapto","startTime":1249.82,"endTime":1253.36,"body":"innovation pursued within the SM"},{"speaker":"Irza Suprapto","startTime":1253.36,"endTime":1254.05,"body":"group as a whole?"},{"speaker":"Unknown","startTime":1257.32,"endTime":1262.42,"body":"Okay, I guess for"},{"speaker":"Unknown","startTime":1257.32,"endTime":1262.42,"body":"innovation is I think, for us is"},{"speaker":"Unknown","startTime":1262.42,"endTime":1268.21,"body":"really looking into, again, this"},{"speaker":"Unknown","startTime":1262.42,"endTime":1268.21,"body":"is the early start SM digital,"},{"speaker":"Unknown","startTime":1268.21,"endTime":1271.93,"body":"but for us, our innovation is"},{"speaker":"Unknown","startTime":1268.21,"endTime":1271.93,"body":"really looking at relevancy."},{"speaker":"Unknown","startTime":1272.47,"endTime":1275.59,"body":"There's a product market fit."},{"speaker":"Unknown","startTime":1272.47,"endTime":1275.59,"body":"And that means measuring the"},{"speaker":"Unknown","startTime":1275.68,"endTime":1280.27,"body":"number of unique customers that"},{"speaker":"Unknown","startTime":1275.68,"endTime":1280.27,"body":"visit our platform. And how"},{"speaker":"Unknown","startTime":1280.27,"endTime":1284.62,"body":"often do we actually stay. And"},{"speaker":"Unknown","startTime":1280.27,"endTime":1284.62,"body":"of course, the NPS costs of the"},{"speaker":"Unknown","startTime":1284.62,"endTime":1288.1,"body":"customers post delivery of a"},{"speaker":"Unknown","startTime":1284.62,"endTime":1288.1,"body":"specific service, whether it's"},{"speaker":"Unknown","startTime":1288.1,"endTime":1292.9,"body":"food or medicine, and so forth."},{"speaker":"Unknown","startTime":1288.1,"endTime":1292.9,"body":"And then just looking at from"},{"speaker":"Unknown","startTime":1292.9,"endTime":1296.29,"body":"there. But then again, SM"},{"speaker":"Unknown","startTime":1292.9,"endTime":1296.29,"body":"digital is really more an"},{"speaker":"Unknown","startTime":1296.29,"endTime":1299.56,"body":"exception versus a norm in the"},{"speaker":"Unknown","startTime":1296.29,"endTime":1299.56,"body":"current government. Because at"},{"speaker":"Unknown","startTime":1299.56,"endTime":1303.73,"body":"the end, any any sound business"},{"speaker":"Unknown","startTime":1299.56,"endTime":1303.73,"body":"is really looking to net income"},{"speaker":"Unknown","startTime":1303.73,"endTime":1306.52,"body":"and free cash flow. I think a"},{"speaker":"Unknown","startTime":1303.73,"endTime":1306.52,"body":"license. Yeah, I mean, a wise"},{"speaker":"Unknown","startTime":1306.52,"endTime":1310.03,"body":"man once told me, right,"},{"speaker":"Unknown","startTime":1306.52,"endTime":1310.03,"body":"everything that glitters is not"},{"speaker":"Unknown","startTime":1310.03,"endTime":1310.87,"body":"necessarily gold."},{"speaker":"Irza Suprapto","startTime":1312.58,"endTime":1313.96,"body":"And very true as"},{"speaker":"Irza Suprapto","startTime":1312.58,"endTime":1313.96,"body":"well. Right."},{"speaker":"Unknown","startTime":1314.86,"endTime":1318.37,"body":"So I mean, the tech"},{"speaker":"Unknown","startTime":1314.86,"endTime":1318.37,"body":"firms? Yeah, I mean, I think the"},{"speaker":"Unknown","startTime":1318.37,"endTime":1321.43,"body":"way we look at things, as far as"},{"speaker":"Unknown","startTime":1318.37,"endTime":1321.43,"body":"I'm Teacher, it's kind of"},{"speaker":"Unknown","startTime":1321.79,"endTime":1327.1,"body":"similar. But at the end of the"},{"speaker":"Unknown","startTime":1321.79,"endTime":1327.1,"body":"day, we do want to find a way to"},{"speaker":"Unknown","startTime":1327.37,"endTime":1332.47,"body":"complement the offline malls in"},{"speaker":"Unknown","startTime":1327.37,"endTime":1332.47,"body":"a very sustainable manner in"},{"speaker":"Unknown","startTime":1332.5,"endTime":1335.77,"body":"short term law. But in the"},{"speaker":"Unknown","startTime":1332.5,"endTime":1335.77,"body":"meantime, we are just looking"},{"speaker":"Unknown","startTime":1335.77,"endTime":1338.02,"body":"into growth for now."},{"speaker":"Irza Suprapto","startTime":1339.16,"endTime":1341.11,"body":"And, you know,"},{"speaker":"Irza Suprapto","startTime":1339.16,"endTime":1341.11,"body":"previously, you mentioned the"},{"speaker":"Irza Suprapto","startTime":1341.11,"endTime":1345.22,"body":"difficulty of hiring in 2020."},{"speaker":"Irza Suprapto","startTime":1341.11,"endTime":1345.22,"body":"You know, every tech stock"},{"speaker":"Irza Suprapto","startTime":1345.28,"endTime":1348.64,"body":"during COVID was flying, you"},{"speaker":"Irza Suprapto","startTime":1345.28,"endTime":1348.64,"body":"know, there was a lot of news"},{"speaker":"Irza Suprapto","startTime":1348.64,"endTime":1353.17,"body":"around that. And it was"},{"speaker":"Irza Suprapto","startTime":1348.64,"endTime":1353.17,"body":"difficult, right? Trying to hire"},{"speaker":"Irza Suprapto","startTime":1353.17,"endTime":1356.38,"body":"people because talent was there"},{"speaker":"Irza Suprapto","startTime":1353.17,"endTime":1356.38,"body":"was a talent crunch has that"},{"speaker":"Irza Suprapto","startTime":1356.38,"endTime":1359.05,"body":"shifted, you know, across,"},{"speaker":"Irza Suprapto","startTime":1356.38,"endTime":1359.05,"body":"especially now and instead of"},{"speaker":"Irza Suprapto","startTime":1359.05,"endTime":1361.78,"body":"hearing about tech valuations"},{"speaker":"Irza Suprapto","startTime":1359.05,"endTime":1361.78,"body":"going up, tech valuations are"},{"speaker":"Irza Suprapto","startTime":1361.78,"endTime":1367.54,"body":"tanking, all these firms Lazada"},{"speaker":"Irza Suprapto","startTime":1361.78,"endTime":1367.54,"body":"shopee have all been laying off"},{"speaker":"Irza Suprapto","startTime":1367.54,"endTime":1370.75,"body":"people in different places. Has"},{"speaker":"Irza Suprapto","startTime":1367.54,"endTime":1370.75,"body":"that changed for SM?"},{"speaker":"Unknown","startTime":1370.0,"endTime":1377.2,"body":"Yes, absolutely, yes."},{"speaker":"Unknown","startTime":1370.0,"endTime":1377.2,"body":"Right. I mean, I'm not gonna"},{"speaker":"Unknown","startTime":1377.2,"endTime":1380.74,"body":"lie. So a lot can be the"},{"speaker":"Unknown","startTime":1377.2,"endTime":1380.74,"body":"interview. And they're not"},{"speaker":"Unknown","startTime":1380.74,"endTime":1384.85,"body":"necessarily from technology, you"},{"speaker":"Unknown","startTime":1380.74,"endTime":1384.85,"body":"know, firms that are laid off,"},{"speaker":"Unknown","startTime":1384.85,"endTime":1389.98,"body":"you go with us, you know, on the"},{"speaker":"Unknown","startTime":1384.85,"endTime":1389.98,"body":"brink of recession, or, or"},{"speaker":"Unknown","startTime":1389.98,"endTime":1393.19,"body":"whatever the Federal Bank is"},{"speaker":"Unknown","startTime":1389.98,"endTime":1393.19,"body":"doing, it does have impact on"},{"speaker":"Unknown","startTime":1393.19,"endTime":1396.7,"body":"the market. And, I mean,"},{"speaker":"Unknown","startTime":1393.19,"endTime":1396.7,"body":"Philippines majority, you know,"},{"speaker":"Unknown","startTime":1396.7,"endTime":1401.74,"body":"this country whereby there are"},{"speaker":"Unknown","startTime":1396.7,"endTime":1401.74,"body":"BPO services, and I think"},{"speaker":"Unknown","startTime":1401.77,"endTime":1405.64,"body":"there's a lot of talent that's"},{"speaker":"Unknown","startTime":1401.77,"endTime":1405.64,"body":"actually there as well. But in a"},{"speaker":"Unknown","startTime":1405.64,"endTime":1409.15,"body":"nutshell, a lot of them come to"},{"speaker":"Unknown","startTime":1405.64,"endTime":1409.15,"body":"SM because they want stability."},{"speaker":"Unknown","startTime":1409.81,"endTime":1413.53,"body":"There is no doubt that SM for"},{"speaker":"Unknown","startTime":1409.81,"endTime":1413.53,"body":"the past 65 years focusing, you"},{"speaker":"Unknown","startTime":1413.53,"endTime":1416.53,"body":"know, very frugal, and you know,"},{"speaker":"Unknown","startTime":1413.53,"endTime":1416.53,"body":"focusing on value, adding"},{"speaker":"Unknown","startTime":1417.31,"endTime":1420.97,"body":"services, whether it's property"},{"speaker":"Unknown","startTime":1417.31,"endTime":1420.97,"body":"development, energy, the"},{"speaker":"Unknown","startTime":1420.97,"endTime":1423.91,"body":"logistics, and they've been very"},{"speaker":"Unknown","startTime":1420.97,"endTime":1423.91,"body":"frugal and free cash flow, it's"},{"speaker":"Unknown","startTime":1423.94,"endTime":1427.24,"body":"still an imperative for them."},{"speaker":"Unknown","startTime":1423.94,"endTime":1427.24,"body":"And they still have a very"},{"speaker":"Unknown","startTime":1427.24,"endTime":1430.75,"body":"watched, you know, sturdy"},{"speaker":"Unknown","startTime":1427.24,"endTime":1430.75,"body":"balance sheet, I would say, and"},{"speaker":"Unknown","startTime":1430.75,"endTime":1437.59,"body":"I think that does attract talent"},{"speaker":"Unknown","startTime":1430.75,"endTime":1437.59,"body":"in to our site during this post"},{"speaker":"Unknown","startTime":1437.59,"endTime":1444.82,"body":"COVID period. But I would say"},{"speaker":"Unknown","startTime":1437.59,"endTime":1444.82,"body":"that, even though we had a tough"},{"speaker":"Unknown","startTime":1444.82,"endTime":1449.26,"body":"time hiring people during the"},{"speaker":"Unknown","startTime":1444.82,"endTime":1449.26,"body":"COVID period, we at least from"},{"speaker":"Unknown","startTime":1449.26,"endTime":1454.66,"body":"my management team, which I"},{"speaker":"Unknown","startTime":1449.26,"endTime":1454.66,"body":"personally handpick, it was, I"},{"speaker":"Unknown","startTime":1454.66,"endTime":1458.95,"body":"was lucky. Some of them just"},{"speaker":"Unknown","startTime":1454.66,"endTime":1458.95,"body":"didn't want to be another"},{"speaker":"Unknown","startTime":1459.28,"endTime":1461.77,"body":"employee in this tech stuff."},{"speaker":"Unknown","startTime":1459.28,"endTime":1461.77,"body":"They wanted to also try"},{"speaker":"Unknown","startTime":1461.77,"endTime":1464.92,"body":"something new. And they have"},{"speaker":"Unknown","startTime":1461.77,"endTime":1464.92,"body":"been a great, tremendous help to"},{"speaker":"Unknown","startTime":1464.95,"endTime":1469.06,"body":"SM Digital, so, and luck plays a"},{"speaker":"Unknown","startTime":1464.95,"endTime":1469.06,"body":"role but in a nutshell to your"},{"speaker":"Unknown","startTime":1469.06,"endTime":1472.21,"body":"question. Yeah, I mean, it's"},{"speaker":"Unknown","startTime":1469.06,"endTime":1472.21,"body":"been easier for us, especially"},{"speaker":"Unknown","startTime":1472.21,"endTime":1475.27,"body":"when you hire good talent. This"},{"speaker":"Unknown","startTime":1472.21,"endTime":1475.27,"body":"good talent would probably be"},{"speaker":"Unknown","startTime":1475.27,"endTime":1479.32,"body":"for attract other good talents."},{"speaker":"Unknown","startTime":1475.27,"endTime":1479.32,"body":"And eventually, the team just"},{"speaker":"Unknown","startTime":1479.32,"endTime":1484.09,"body":"started getting stronger. Here"},{"speaker":"Unknown","startTime":1479.32,"endTime":1484.09,"body":"on out every single month, you"},{"speaker":"Unknown","startTime":1484.09,"endTime":1484.99,"body":"know, every single year,"},{"speaker":"Irza Suprapto","startTime":1485.599,"endTime":1487.099,"body":"good ol network"},{"speaker":"Irza Suprapto","startTime":1485.599,"endTime":1487.099,"body":"effects, right?"},{"speaker":"Unknown","startTime":1487.43,"endTime":1491.0,"body":"Yeah. 50% of our"},{"speaker":"Unknown","startTime":1487.43,"endTime":1491.0,"body":"initial employees were"},{"speaker":"Irza Suprapto","startTime":1491.0,"endTime":1493.31,"body":"referrals 15 or"},{"speaker":"Irza Suprapto","startTime":1491.0,"endTime":1493.31,"body":"50."},{"speaker":"Unknown","startTime":1495.5,"endTime":1497.48,"body":"That's how because we"},{"speaker":"Unknown","startTime":1495.5,"endTime":1497.48,"body":"couldn't penetrate you know,"},{"speaker":"Unknown","startTime":1497.48,"endTime":1500.24,"body":"from a marketing branding"},{"speaker":"Unknown","startTime":1497.48,"endTime":1500.24,"body":"employee standpoint. So We had"},{"speaker":"Unknown","startTime":1500.24,"endTime":1503.33,"body":"to go through the referral and"},{"speaker":"Unknown","startTime":1500.24,"endTime":1503.33,"body":"that was a bulk of our initial"},{"speaker":"Unknown","startTime":1503.33,"endTime":1503.87,"body":"hires."},{"speaker":"Irza Suprapto","startTime":1504.71,"endTime":1507.14,"body":"So are you are"},{"speaker":"Irza Suprapto","startTime":1504.71,"endTime":1507.14,"body":"you rebuilding your core systems"},{"speaker":"Irza Suprapto","startTime":1507.14,"endTime":1508.34,"body":"now, now that you have the"},{"speaker":"Irza Suprapto","startTime":1507.14,"endTime":1508.34,"body":"talent?"},{"speaker":"Unknown","startTime":1510.349,"endTime":1514.369,"body":"I think what worked for"},{"speaker":"Unknown","startTime":1510.349,"endTime":1514.369,"body":"us in the past continues to work"},{"speaker":"Unknown","startTime":1514.369,"endTime":1518.599,"body":"for us certain principles or"},{"speaker":"Unknown","startTime":1514.369,"endTime":1518.599,"body":"cultural values that we hold,"},{"speaker":"Unknown","startTime":1518.959,"endTime":1520.819,"body":"and I don't think we're gonna"},{"speaker":"Unknown","startTime":1518.959,"endTime":1520.819,"body":"change anytime soon."},{"speaker":"Irza Suprapto","startTime":1521.179,"endTime":1524.839,"body":"Perfect. Sounds"},{"speaker":"Irza Suprapto","startTime":1521.179,"endTime":1524.839,"body":"good. Okay, Daniel, before I let"},{"speaker":"Irza Suprapto","startTime":1524.839,"endTime":1527.329,"body":"you go, just a couple more"},{"speaker":"Irza Suprapto","startTime":1524.839,"endTime":1527.329,"body":"questions about, you know, the"},{"speaker":"Irza Suprapto","startTime":1527.329,"endTime":1532.399,"body":"retail landscape in the"},{"speaker":"Irza Suprapto","startTime":1527.329,"endTime":1532.399,"body":"Philippines. So you obviously"},{"speaker":"Irza Suprapto","startTime":1532.399,"endTime":1536.029,"body":"have what now? It makes you"},{"speaker":"Irza Suprapto","startTime":1532.399,"endTime":1536.029,"body":"sound old. But I know you're"},{"speaker":"Irza Suprapto","startTime":1536.029,"endTime":1539.809,"body":"very young man. You have a"},{"speaker":"Irza Suprapto","startTime":1536.029,"endTime":1539.809,"body":"decade of experience now working"},{"speaker":"Irza Suprapto","startTime":1539.809,"endTime":1542.749,"body":"within the Filipino retail"},{"speaker":"Irza Suprapto","startTime":1539.809,"endTime":1542.749,"body":"landscape, right? What do you"},{"speaker":"Irza Suprapto","startTime":1542.749,"endTime":1545.569,"body":"think has changed across you"},{"speaker":"Irza Suprapto","startTime":1542.749,"endTime":1545.569,"body":"know, the, what, seven, eight"},{"speaker":"Irza Suprapto","startTime":1545.569,"endTime":1548.269,"body":"years you've, you've worked"},{"speaker":"Irza Suprapto","startTime":1545.569,"endTime":1548.269,"body":"within the Filipino landscape?"},{"speaker":"Irza Suprapto","startTime":1548.269,"endTime":1552.199,"body":"And obviously, you go back quite"},{"speaker":"Irza Suprapto","startTime":1548.269,"endTime":1552.199,"body":"often to Malaysia, and you've"},{"speaker":"Irza Suprapto","startTime":1552.199,"endTime":1553.939,"body":"you've traveled the rest of"},{"speaker":"Irza Suprapto","startTime":1552.199,"endTime":1553.939,"body":"Southeast Asia, what is"},{"speaker":"Irza Suprapto","startTime":1553.939,"endTime":1557.449,"body":"idiosyncratic What is unique"},{"speaker":"Irza Suprapto","startTime":1553.939,"endTime":1557.449,"body":"about the Filipino retail"},{"speaker":"Irza Suprapto","startTime":1557.449,"endTime":1557.959,"body":"landscape?"},{"speaker":"Unknown","startTime":1561.65,"endTime":1565.52,"body":"Okay, so, okay, so I"},{"speaker":"Unknown","startTime":1561.65,"endTime":1565.52,"body":"will stick this in the context"},{"speaker":"Unknown","startTime":1565.52,"endTime":1568.52,"body":"of what I know, given, I"},{"speaker":"Unknown","startTime":1565.52,"endTime":1568.52,"body":"probably am the only person who"},{"speaker":"Unknown","startTime":1568.55,"endTime":1571.88,"body":"really has a good gauge from"},{"speaker":"Unknown","startTime":1568.55,"endTime":1571.88,"body":"offline and online on a high"},{"speaker":"Unknown","startTime":1571.88,"endTime":1576.71,"body":"level. And I would say this"},{"speaker":"Unknown","startTime":1571.88,"endTime":1576.71,"body":"right, despite no e commerce"},{"speaker":"Unknown","startTime":1576.71,"endTime":1581.48,"body":"surging during the August"},{"speaker":"Unknown","startTime":1576.71,"endTime":1581.48,"body":"digital behavior surging during"},{"speaker":"Unknown","startTime":1581.48,"endTime":1586.1,"body":"the COVID periods, I would say"},{"speaker":"Unknown","startTime":1581.48,"endTime":1586.1,"body":"that, you know, Philippines is"},{"speaker":"Unknown","startTime":1586.1,"endTime":1589.19,"body":"still a country that has a lot"},{"speaker":"Unknown","startTime":1586.1,"endTime":1589.19,"body":"of potential in terms of growth"},{"speaker":"Unknown","startTime":1589.19,"endTime":1593.03,"body":"for the coming decades. I do"},{"speaker":"Unknown","startTime":1589.19,"endTime":1593.03,"body":"believe it's the next trillion"},{"speaker":"Unknown","startTime":1593.03,"endTime":1598.34,"body":"dollar economy or the AREAS in"},{"speaker":"Unknown","startTime":1593.03,"endTime":1598.34,"body":"the coming few years. And that's"},{"speaker":"Unknown","startTime":1598.34,"endTime":1601.04,"body":"really tasty, because it's a"},{"speaker":"Unknown","startTime":1598.34,"endTime":1601.04,"body":"young population that is in"},{"speaker":"Unknown","startTime":1601.04,"endTime":1603.17,"body":"them, average, two people,"},{"speaker":"Unknown","startTime":1601.04,"endTime":1603.17,"body":"income per capita is still"},{"speaker":"Unknown","startTime":1603.17,"endTime":1610.07,"body":"growing. And I still think that,"},{"speaker":"Unknown","startTime":1603.17,"endTime":1610.07,"body":"though, that this country is"},{"speaker":"Unknown","startTime":1610.1,"endTime":1615.8,"body":"becoming richer, in the long"},{"speaker":"Unknown","startTime":1610.1,"endTime":1615.8,"body":"run, they still have an affinity"},{"speaker":"Unknown","startTime":1615.8,"endTime":1619.88,"body":"to the offline world. And it"},{"speaker":"Unknown","startTime":1615.8,"endTime":1619.88,"body":"could be a social aspect, kind"},{"speaker":"Unknown","startTime":1619.88,"endTime":1623.57,"body":"of trait or characteristic,"},{"speaker":"Unknown","startTime":1619.88,"endTime":1623.57,"body":"because Filipinos are just very"},{"speaker":"Unknown","startTime":1623.57,"endTime":1627.89,"body":"outgoing, and they like being"},{"speaker":"Unknown","startTime":1623.57,"endTime":1627.89,"body":"with people and so forth. But at"},{"speaker":"Unknown","startTime":1627.89,"endTime":1631.91,"body":"the same time, you know, they're"},{"speaker":"Unknown","startTime":1627.89,"endTime":1631.91,"body":"still bound by the, you know, I"},{"speaker":"Unknown","startTime":1631.91,"endTime":1633.74,"body":"mean, I wouldn't say the"},{"speaker":"Unknown","startTime":1631.91,"endTime":1633.74,"body":"government sector and so far,"},{"speaker":"Unknown","startTime":1633.74,"endTime":1637.52,"body":"but a lot of things still need"},{"speaker":"Unknown","startTime":1633.74,"endTime":1637.52,"body":"require a lot of building,"},{"speaker":"Unknown","startTime":1637.52,"endTime":1641.72,"body":"especially infrastructure. And I"},{"speaker":"Unknown","startTime":1637.52,"endTime":1641.72,"body":"think, Philippines very unique,"},{"speaker":"Unknown","startTime":1641.72,"endTime":1645.38,"body":"whereby, you know, you have"},{"speaker":"Unknown","startTime":1641.72,"endTime":1645.38,"body":"technology, you have grabfood,"},{"speaker":"Unknown","startTime":1645.38,"endTime":1648.56,"body":"you have Lazada and Shopee. But"},{"speaker":"Unknown","startTime":1645.38,"endTime":1648.56,"body":"when it comes to infra, it's"},{"speaker":"Unknown","startTime":1648.56,"endTime":1650.99,"body":"still extremely expensive to"},{"speaker":"Unknown","startTime":1648.56,"endTime":1650.99,"body":"ship one parcel from one end of"},{"speaker":"Unknown","startTime":1650.99,"endTime":1652.52,"body":"the country to the other. And"},{"speaker":"Unknown","startTime":1650.99,"endTime":1652.52,"body":"even though it's been a good"},{"speaker":"Unknown","startTime":1652.52,"endTime":1655.76,"body":"seven to eight years, I know"},{"speaker":"Unknown","startTime":1652.52,"endTime":1655.76,"body":"Lazada has built shopee, express"},{"speaker":"Unknown","startTime":1655.76,"endTime":1659.9,"body":"Lazada Express, but the supply"},{"speaker":"Unknown","startTime":1655.76,"endTime":1659.9,"body":"chain is still not there. And,"},{"speaker":"Unknown","startTime":1660.41,"endTime":1664.34,"body":"you know, together with"},{"speaker":"Unknown","startTime":1660.41,"endTime":1664.34,"body":"Filipinos enjoying, going out"},{"speaker":"Unknown","startTime":1664.43,"endTime":1668.45,"body":"together and spend time as a"},{"speaker":"Unknown","startTime":1664.43,"endTime":1668.45,"body":"family or friends with rising"},{"speaker":"Unknown","startTime":1668.45,"endTime":1672.8,"body":"incomes, I still think it's very"},{"speaker":"Unknown","startTime":1668.45,"endTime":1672.8,"body":"funny. But I still think offline"},{"speaker":"Unknown","startTime":1673.01,"endTime":1676.97,"body":"is really a very big chunk of"},{"speaker":"Unknown","startTime":1673.01,"endTime":1676.97,"body":"this Filipino economy. And"},{"speaker":"Unknown","startTime":1677.0,"endTime":1679.61,"body":"that's something that I see very"},{"speaker":"Unknown","startTime":1677.0,"endTime":1679.61,"body":"differently, at least in the"},{"speaker":"Unknown","startTime":1679.61,"endTime":1683.12,"body":"context of Singapore, Indonesia,"},{"speaker":"Unknown","startTime":1679.61,"endTime":1683.12,"body":"where I'm from, but I think"},{"speaker":"Unknown","startTime":1683.3,"endTime":1686.66,"body":"Philippines just has that trade."},{"speaker":"Unknown","startTime":1683.3,"endTime":1686.66,"body":"And I think it's still gonna"},{"speaker":"Unknown","startTime":1686.66,"endTime":1688.34,"body":"stay that way. Yeah."},{"speaker":"Irza Suprapto","startTime":1690.92,"endTime":1693.8,"body":"Yeah, I agree"},{"speaker":"Irza Suprapto","startTime":1690.92,"endTime":1693.8,"body":"with you. Right? We were there"},{"speaker":"Irza Suprapto","startTime":1693.8,"endTime":1696.89,"body":"during when COVID was close,"},{"speaker":"Irza Suprapto","startTime":1693.8,"endTime":1696.89,"body":"when the rules were pretty"},{"speaker":"Irza Suprapto","startTime":1696.89,"endTime":1699.5,"body":"strict. I think my last trip,"},{"speaker":"Irza Suprapto","startTime":1696.89,"endTime":1699.5,"body":"one of my last trips was to the"},{"speaker":"Irza Suprapto","startTime":1699.5,"endTime":1703.01,"body":"Philippines, and everybody was"},{"speaker":"Irza Suprapto","startTime":1699.5,"endTime":1703.01,"body":"pretty afraid of going out. But"},{"speaker":"Irza Suprapto","startTime":1703.01,"endTime":1705.86,"body":"then I was there recently as"},{"speaker":"Irza Suprapto","startTime":1703.01,"endTime":1705.86,"body":"well. I mean, I just met you"},{"speaker":"Irza Suprapto","startTime":1705.86,"endTime":1709.1,"body":"earlier this year. And all the"},{"speaker":"Irza Suprapto","startTime":1705.86,"endTime":1709.1,"body":"malls were back to being really,"},{"speaker":"Irza Suprapto","startTime":1709.1,"endTime":1711.77,"body":"really full, really, really"},{"speaker":"Irza Suprapto","startTime":1709.1,"endTime":1711.77,"body":"crowded. And that's what"},{"speaker":"Irza Suprapto","startTime":1711.77,"endTime":1716.45,"body":"everybody have said to us as"},{"speaker":"Irza Suprapto","startTime":1711.77,"endTime":1716.45,"body":"well. Filipinos, they like the"},{"speaker":"Irza Suprapto","startTime":1716.45,"endTime":1720.56,"body":"social aspect of getting"},{"speaker":"Irza Suprapto","startTime":1716.45,"endTime":1720.56,"body":"together or even walking around"},{"speaker":"Irza Suprapto","startTime":1720.56,"endTime":1724.01,"body":"malls, I believe, SM owns quite"},{"speaker":"Irza Suprapto","startTime":1720.56,"endTime":1724.01,"body":"a few of the largest malls in"},{"speaker":"Irza Suprapto","startTime":1724.61,"endTime":1727.49,"body":"Asia. And one, I think a couple"},{"speaker":"Irza Suprapto","startTime":1724.61,"endTime":1727.49,"body":"of one or two of them are"},{"speaker":"Irza Suprapto","startTime":1727.49,"endTime":1730.16,"body":"actually in the Philippines as"},{"speaker":"Irza Suprapto","startTime":1727.49,"endTime":1730.16,"body":"well. So mall culture that is"},{"speaker":"Irza Suprapto","startTime":1730.16,"endTime":1734.0,"body":"pretty strong as well. So SM"},{"speaker":"Irza Suprapto","startTime":1730.16,"endTime":1734.0,"body":"online must be set up pretty"},{"speaker":"Irza Suprapto","startTime":1734.0,"endTime":1737.57,"body":"well, because you have both the"},{"speaker":"Irza Suprapto","startTime":1734.0,"endTime":1737.57,"body":"online and offline covered"},{"speaker":"Irza Suprapto","startTime":1737.57,"endTime":1742.07,"body":"pretty well there. In terms of"},{"speaker":"Irza Suprapto","startTime":1737.57,"endTime":1742.07,"body":"technology in the region when it"},{"speaker":"Irza Suprapto","startTime":1742.07,"endTime":1744.74,"body":"comes to the retail space, or"},{"speaker":"Irza Suprapto","startTime":1742.07,"endTime":1744.74,"body":"you know, in Southeast Asia, are"},{"speaker":"Irza Suprapto","startTime":1744.74,"endTime":1748.1,"body":"there certain things that you"},{"speaker":"Irza Suprapto","startTime":1744.74,"endTime":1748.1,"body":"are excited to see developments"},{"speaker":"Irza Suprapto","startTime":1748.1,"endTime":1751.7,"body":"in over the next couple of"},{"speaker":"Irza Suprapto","startTime":1748.1,"endTime":1751.7,"body":"years? Last question, I promise."},{"speaker":"Unknown","startTime":1753.38,"endTime":1760.85,"body":"You, am I excited? I"},{"speaker":"Unknown","startTime":1753.38,"endTime":1760.85,"body":"don't know I'm not gonna lie."},{"speaker":"Unknown","startTime":1760.85,"endTime":1766.16,"body":"I'm not special in FinTech and,"},{"speaker":"Unknown","startTime":1760.85,"endTime":1766.16,"body":"and all of this, but I still"},{"speaker":"Unknown","startTime":1766.19,"endTime":1769.7,"body":"think, you know, ecommerce or"},{"speaker":"Unknown","startTime":1766.19,"endTime":1769.7,"body":"omni channel. I think a lot of"},{"speaker":"Unknown","startTime":1769.7,"endTime":1773.36,"body":"retailers are really going to be"},{"speaker":"Unknown","startTime":1769.7,"endTime":1773.36,"body":"the only chanterelle. Everyone's"},{"speaker":"Unknown","startTime":1773.36,"endTime":1777.23,"body":"trying to cover No, both sides,"},{"speaker":"Unknown","startTime":1773.36,"endTime":1777.23,"body":"you know, given what COVID has"},{"speaker":"Unknown","startTime":1777.23,"endTime":1781.64,"body":"done to them. I think it's still"},{"speaker":"Unknown","startTime":1777.23,"endTime":1781.64,"body":"in a very decent early stage,"},{"speaker":"Unknown","startTime":1781.64,"endTime":1784.25,"body":"but I do see a lot of vendors or"},{"speaker":"Unknown","startTime":1781.64,"endTime":1784.25,"body":"third party companies"},{"speaker":"Unknown","startTime":1784.28,"endTime":1788.36,"body":"approaching us with technologies"},{"speaker":"Unknown","startTime":1784.28,"endTime":1788.36,"body":"on that aspect. And I am very"},{"speaker":"Unknown","startTime":1788.36,"endTime":1792.89,"body":"curious, given how strong"},{"speaker":"Unknown","startTime":1788.36,"endTime":1792.89,"body":"offline is in the Philippines at"},{"speaker":"Unknown","startTime":1792.89,"endTime":1796.28,"body":"the same time, with windows"},{"speaker":"Unknown","startTime":1792.89,"endTime":1796.28,"body":"being one of the like top social"},{"speaker":"Unknown","startTime":1796.31,"endTime":1800.15,"body":"media users in the world. I am"},{"speaker":"Unknown","startTime":1796.31,"endTime":1800.15,"body":"quite interested in actually"},{"speaker":"Unknown","startTime":1800.15,"endTime":1805.31,"body":"see, that specific technology"},{"speaker":"Unknown","startTime":1800.15,"endTime":1805.31,"body":"aspect of retail omni channel"},{"speaker":"Unknown","startTime":1805.85,"endTime":1808.25,"body":"growing, because at the end day,"},{"speaker":"Unknown","startTime":1805.85,"endTime":1808.25,"body":"that's also when it comes to"},{"speaker":"Unknown","startTime":1808.25,"endTime":1811.79,"body":"brands that just seem to be more"},{"speaker":"Unknown","startTime":1808.25,"endTime":1811.79,"body":"concentrated the number of"},{"speaker":"Unknown","startTime":1811.79,"endTime":1814.25,"body":"brands in the Philippines"},{"speaker":"Unknown","startTime":1811.79,"endTime":1814.25,"body":"compared to what you see in"},{"speaker":"Unknown","startTime":1814.25,"endTime":1817.82,"body":"Singapore, it's always a big"},{"speaker":"Unknown","startTime":1814.25,"endTime":1817.82,"body":"one, they Jollibee, and so"},{"speaker":"Unknown","startTime":1817.82,"endTime":1822.56,"body":"forth. So I want to see how this"},{"speaker":"Unknown","startTime":1817.82,"endTime":1822.56,"body":"all works. Because this big"},{"speaker":"Unknown","startTime":1822.56,"endTime":1824.9,"body":"companies where it's quite"},{"speaker":"Unknown","startTime":1822.56,"endTime":1824.9,"body":"concentrated most of the retail"},{"speaker":"Unknown","startTime":1824.9,"endTime":1829.73,"body":"spend, they would have the money"},{"speaker":"Unknown","startTime":1824.9,"endTime":1829.73,"body":"to invest in such technology. So"},{"speaker":"Unknown","startTime":1830.03,"endTime":1834.68,"body":"I do see more and more. And I do"},{"speaker":"Unknown","startTime":1830.03,"endTime":1834.68,"body":"like to see where this goes from"},{"speaker":"Unknown","startTime":1834.68,"endTime":1834.83,"body":"here."},{"speaker":"Irza Suprapto","startTime":1836.03,"endTime":1838.04,"body":"That is a great"},{"speaker":"Irza Suprapto","startTime":1836.03,"endTime":1838.04,"body":"point, I think you're perfectly"},{"speaker":"Irza Suprapto","startTime":1838.04,"endTime":1841.73,"body":"correct. We, a couple of the"},{"speaker":"Irza Suprapto","startTime":1838.04,"endTime":1841.73,"body":"enterprises, or the large retail"},{"speaker":"Irza Suprapto","startTime":1842.24,"endTime":1845.63,"body":"brands in the Philippines have"},{"speaker":"Irza Suprapto","startTime":1842.24,"endTime":1845.63,"body":"actually done quite a few RFPs"},{"speaker":"Irza Suprapto","startTime":1845.63,"endTime":1849.35,"body":"with quite interesting problem"},{"speaker":"Irza Suprapto","startTime":1845.63,"endTime":1849.35,"body":"or pain points or solutions"},{"speaker":"Irza Suprapto","startTime":1849.35,"endTime":1851.15,"body":"they're looking to solve, and"},{"speaker":"Irza Suprapto","startTime":1849.35,"endTime":1851.15,"body":"you're looking for quite"},{"speaker":"Irza Suprapto","startTime":1851.15,"endTime":1855.05,"body":"innovative technology solution"},{"speaker":"Irza Suprapto","startTime":1851.15,"endTime":1855.05,"body":"providers. So that's something"},{"speaker":"Irza Suprapto","startTime":1855.05,"endTime":1858.17,"body":"I'm quite excited about. But"},{"speaker":"Irza Suprapto","startTime":1855.05,"endTime":1858.17,"body":"yeah, you know, I think the"},{"speaker":"Irza Suprapto","startTime":1858.17,"endTime":1861.23,"body":"Philippines is positioned very"},{"speaker":"Irza Suprapto","startTime":1858.17,"endTime":1861.23,"body":"well. Second largest population"},{"speaker":"Irza Suprapto","startTime":1861.23,"endTime":1863.6,"body":"here in Southeast Asia of the"},{"speaker":"Irza Suprapto","startTime":1861.23,"endTime":1863.6,"body":"Indonesia. It's interesting. You"},{"speaker":"Irza Suprapto","startTime":1863.66,"endTime":1866.75,"body":"You say it might be the next"},{"speaker":"Irza Suprapto","startTime":1863.66,"endTime":1866.75,"body":"trillion dollar economy, I think"},{"speaker":"Irza Suprapto","startTime":1866.75,"endTime":1869.36,"body":"that's like very likely with the"},{"speaker":"Irza Suprapto","startTime":1866.75,"endTime":1869.36,"body":"growth that you guys are seeing."},{"speaker":"Irza Suprapto","startTime":1869.81,"endTime":1873.2,"body":"So seems like your position"},{"speaker":"Irza Suprapto","startTime":1869.81,"endTime":1873.2,"body":"perfectly Daniel, sitting out of"},{"speaker":"Irza Suprapto","startTime":1873.2,"endTime":1877.46,"body":"the Philippines. Maybe someday,"},{"speaker":"Irza Suprapto","startTime":1873.2,"endTime":1877.46,"body":"Motherland will want you to come"},{"speaker":"Irza Suprapto","startTime":1877.46,"endTime":1878.72,"body":"back to Malaysia."},{"speaker":"Unknown","startTime":1881.39,"endTime":1882.68,"body":"Oh, you know, you never"},{"speaker":"Unknown","startTime":1881.39,"endTime":1882.68,"body":"know."},{"speaker":"Irza Suprapto","startTime":1882.89,"endTime":1885.89,"body":"Exactly. And"},{"speaker":"Irza Suprapto","startTime":1882.89,"endTime":1885.89,"body":"again, this whole talk about one"},{"speaker":"Irza Suprapto","startTime":1885.89,"endTime":1889.91,"body":"ASEAN and, you know, mobility"},{"speaker":"Irza Suprapto","startTime":1885.89,"endTime":1889.91,"body":"between people within Southeast"},{"speaker":"Irza Suprapto","startTime":1889.91,"endTime":1893.72,"body":"Asia. So that's something I'm"},{"speaker":"Irza Suprapto","startTime":1889.91,"endTime":1893.72,"body":"quite excited about as well. All"},{"speaker":"Irza Suprapto","startTime":1893.72,"endTime":1896.45,"body":"right. Thank you very much,"},{"speaker":"Irza Suprapto","startTime":1893.72,"endTime":1896.45,"body":"Daniel, for joining us today. It"},{"speaker":"Irza Suprapto","startTime":1896.45,"endTime":1899.54,"body":"has been a wonderful"},{"speaker":"Irza Suprapto","startTime":1896.45,"endTime":1899.54,"body":"conversation. If you're looking"},{"speaker":"Irza Suprapto","startTime":1899.54,"endTime":1902.3,"body":"to connect with Daniel,"},{"speaker":"Irza Suprapto","startTime":1899.54,"endTime":1902.3,"body":"obviously, he's available on"},{"speaker":"Irza Suprapto","startTime":1902.3,"endTime":1905.33,"body":"LinkedIn. Any other contact"},{"speaker":"Irza Suprapto","startTime":1902.3,"endTime":1905.33,"body":"points you might want to give"},{"speaker":"Irza Suprapto","startTime":1905.33,"endTime":1908.09,"body":"out? Daniel, be careful, though,"},{"speaker":"Irza Suprapto","startTime":1905.33,"endTime":1908.09,"body":"some people might go overboard"},{"speaker":"Irza Suprapto","startTime":1908.09,"endTime":1909.26,"body":"with trying to connect with you."},{"speaker":"Unknown","startTime":1910.82,"endTime":1914.33,"body":"Well, I would just want"},{"speaker":"Unknown","startTime":1910.82,"endTime":1914.33,"body":"to see now as we maybe just"},{"speaker":"Unknown","startTime":1914.84,"endTime":1917.81,"body":"point is everyone approach omni"},{"speaker":"Unknown","startTime":1914.84,"endTime":1917.81,"body":"channel and given my experience"},{"speaker":"Unknown","startTime":1917.81,"endTime":1921.95,"body":"in Lazada and Shopee, I can say"},{"speaker":"Unknown","startTime":1917.81,"endTime":1921.95,"body":"that whatever preconceived"},{"speaker":"Unknown","startTime":1921.95,"endTime":1924.02,"body":"notions that you have, I think"},{"speaker":"Unknown","startTime":1921.95,"endTime":1924.02,"body":"you have to pocket a door and"},{"speaker":"Unknown","startTime":1924.05,"endTime":1926.72,"body":"enter it with a blank slate,"},{"speaker":"Unknown","startTime":1924.05,"endTime":1926.72,"body":"because then you're going to be"},{"speaker":"Unknown","startTime":1926.72,"endTime":1930.47,"body":"very surprised with the data,"},{"speaker":"Unknown","startTime":1926.72,"endTime":1930.47,"body":"the insights that you will see,"},{"speaker":"Unknown","startTime":1930.47,"endTime":1933.86,"body":"especially in different"},{"speaker":"Unknown","startTime":1930.47,"endTime":1933.86,"body":"locations, depending on where"},{"speaker":"Unknown","startTime":1933.89,"endTime":1938.99,"body":"your offline retail may be. So I"},{"speaker":"Unknown","startTime":1933.89,"endTime":1938.99,"body":"think I've been quite surprised"},{"speaker":"Unknown","startTime":1938.99,"endTime":1942.05,"body":"at this journey tree, what two"},{"speaker":"Unknown","startTime":1938.99,"endTime":1942.05,"body":"years plus already and I'm still"},{"speaker":"Unknown","startTime":1942.05,"endTime":1945.38,"body":"learning based on the new"},{"speaker":"Unknown","startTime":1942.05,"endTime":1945.38,"body":"insights every single day. But"},{"speaker":"Unknown","startTime":1945.38,"endTime":1948.68,"body":"yeah, happy to help and thank"},{"speaker":"Unknown","startTime":1945.38,"endTime":1948.68,"body":"you for having me."},{"speaker":"Irza Suprapto","startTime":1949.069,"endTime":1950.899,"body":"Thank you,"},{"speaker":"Irza Suprapto","startTime":1949.069,"endTime":1950.899,"body":"Daniel. Thank you very much."},{"speaker":"Unknown","startTime":1951.26,"endTime":1952.76,"body":"All right. Cheers,"},{"speaker":"Unknown","startTime":1951.26,"endTime":1952.76,"body":"guys. Thank you."},{"speaker":"Unknown","startTime":1955.039,"endTime":1959.609,"body":"We hope you've enjoyed the"},{"speaker":"Unknown","startTime":1955.039,"endTime":1959.609,"body":"episode. For more information"},{"speaker":"Unknown","startTime":1959.691,"endTime":1964.507,"body":"about business growth in the"},{"speaker":"Unknown","startTime":1959.691,"endTime":1964.507,"body":"ASEAN region, please visit our"},{"speaker":"Unknown","startTime":1964.588,"endTime":1967.609,"body":"website www.iotbusiness-platform.com."}]}