{"id":51484,"date":"2025-02-04T15:17:02","date_gmt":"2025-02-04T15:17:02","guid":{"rendered":"https:\/\/fabricegrinda.com\/cuoc-tro-chuyen-cua-unicorn-bakery-xu-huong-nam-2025-cho-thi-truong-b2b-va-b2c\/"},"modified":"2025-02-04T17:56:49","modified_gmt":"2025-02-04T17:56:49","slug":"cuoc-tro-chuyen-cua-unicorn-bakery-xu-huong-nam-2025-cho-thi-truong-b2b-va-b2c","status":"publish","type":"post","link":"https:\/\/grinda.org\/vi\/cuoc-tro-chuyen-cua-unicorn-bakery-xu-huong-nam-2025-cho-thi-truong-b2b-va-b2c\/","title":{"rendered":"Cu\u1ed9c tr\u00f2 chuy\u1ec7n c\u1ee7a Unicorn Bakery: Xu h\u01b0\u1edbng n\u0103m 2025 cho th\u1ecb tr\u01b0\u1eddng B2B v\u00e0 B2C"},"content":{"rendered":"\n<p>T\u00f4i \u0111\u00e3 c\u00f3 vinh d\u1ef1 \u0111\u01b0\u1ee3c tr\u00f2 chuy\u1ec7n v\u1edbi <a href=\"https:\/\/fabiantausch.com\/\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/fabiantausch.com\/\" rel=\"noreferrer noopener\">Fabian Tausch<\/a> c\u1ee7a Unicorn Bakery. Ch\u00fang t\u00f4i \u0111\u00e3 th\u1ea3o lu\u1eadn v\u1ec1 t\u00ecnh h\u00ecnh th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m, s\u1ef1 tr\u1ed7i d\u1eady c\u1ee7a th\u1ecb tr\u01b0\u1eddng B2B, t\u00e1c \u0111\u1ed9ng c\u1ee7a AI \u0111\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p v\u00e0 l\u00fd do t\u1ea1i sao IPO v\u1eabn c\u00f2n l\u00e0 \u0111i\u1ec1u kh\u00f3 n\u1eafm b\u1eaft \u0111\u1ed1i v\u1edbi nhi\u1ec1u c\u00f4ng ty. <\/p>\n\n<p>Ch\u00fang t\u00f4i \u0111\u00e3 th\u1ea3o lu\u1eadn:<\/p>\n\n<ul class=\"wp-block-list\">\n<li>T\u1ea1i sao th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m b\u1eaft \u0111\u1ea7u ph\u1ee5c h\u1ed3i v\u00e0o n\u0103m 2025 sau nhi\u1ec1u n\u0103m tr\u00ec tr\u1ec7.<\/li>\n\n\n\n<li>Th\u1ecb tr\u01b0\u1eddng B2B chuy\u1ec3n \u0111\u1ed5i c\u00e1c ng\u00e0nh c\u00f4ng nghi\u1ec7p nh\u01b0 th\u1ebf n\u00e0o v\u00e0 t\u1ea1i sao ch\u00fang v\u1eabn \u0111ang trong giai \u0111o\u1ea1n \u0111\u1ea7u.<\/li>\n\n\n\n<li>Vai tr\u00f2 c\u1ee7a AI trong vi\u1ec7c c\u1ea3i thi\u1ec7n hi\u1ec7u qu\u1ea3 th\u1ecb tr\u01b0\u1eddng v\u00e0 x\u00e1c \u0111\u1ecbnh l\u1ea1i m\u00f4 h\u00ecnh kinh doanh.<\/li>\n\n\n\n<li>T\u1ea1i sao IPO v\u1eabn c\u00f2n nhi\u1ec1u th\u00e1ch th\u1ee9c v\u00e0 c\u1ea7n ph\u1ea3i thay \u0111\u1ed5i nh\u1eefng g\u00ec \u0111\u1ec3 c\u00e1c c\u00f4ng ty c\u00f3 th\u1ec3 ni\u00eam y\u1ebft.<\/li>\n\n\n\n<li>C\u00e1ch nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp c\u00f3 th\u1ec3 x\u00e2y d\u1ef1ng kh\u1ea3 n\u0103ng ph\u00f2ng th\u1ee7 v\u00e0 t\u1ea1o ra hi\u1ec7u \u1ee9ng m\u1ea1ng l\u01b0\u1edbi tr\u00ean th\u1ecb tr\u01b0\u1eddng c\u1ee7a h\u1ecd.<\/li>\n\n\n\n<li>C\u00e1c xu h\u01b0\u1edbng ch\u00ednh n\u0103m 2025 bao g\u1ed3m th\u01b0\u01a1ng m\u1ea1i tr\u1ef1c ti\u1ebfp, th\u1ecb tr\u01b0\u1eddng xuy\u00ean bi\u00ean gi\u1edbi v\u00e0 s\u1ed1 h\u00f3a doanh nghi\u1ec7p v\u1eeba v\u00e0 nh\u1ecf.<\/li>\n<\/ul>\n\n<p>C\u00e1c ch\u01b0\u01a1ng:<\/p>\n\n<p>(00:00:00) Fabrice xem x\u00e9t khung th\u1eddi gian n\u00e0o khi x\u00e2y d\u1ef1ng lu\u1eadn \u00e1n? <\/p>\n\n<p>(00:02:20) &#8220;C\u1ea3m x\u00fac nh\u00ecn l\u1ea1i&#8221; n\u0103m 2024 &amp; &#8220;D\u1ef1 \u0111o\u00e1n&#8221; n\u0103m 2025<\/p>\n\n<p>(00:07:11) C\u1ea7n ph\u1ea3i thay \u0111\u1ed5i \u0111i\u1ec1u g\u00ec \u0111\u1ec3 th\u1ecb tr\u01b0\u1eddng IPO tr\u1edf n\u00ean h\u1ea5p d\u1eabn tr\u1edf l\u1ea1i? <\/p>\n\n<p>(00:10:38) \u0110\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng thay \u0111\u1ed5i ng\u00e0nh c\u00f4ng nghi\u1ec7p \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m nh\u01b0 th\u1ebf n\u00e0o? <\/p>\n\n<p>(00:16:23) Xu h\u01b0\u1edbng hi\u1ec7n t\u1ea1i trong c\u00e1c doanh nghi\u1ec7p m\u1edbi<\/p>\n\n<p>(00:29:52) T\u00e1c \u0111\u1ed9ng c\u1ee7a AI \u0111\u1ebfn kh\u1ea3 n\u0103ng ph\u00f2ng th\u1ee7<\/p>\n\n<p>(00:35:06) Nh\u1eefng r\u00e0o c\u1ea3n g\u1eb7p ph\u1ea3i khi b\u1eaft \u0111\u1ea7u m\u1ed9t th\u1ecb tr\u01b0\u1eddng ng\u00e0y nay<\/p>\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Investor in 1000+ Marketplaces  Fabrice Grinda FJ Labs on 2025 Trends for B2B and B2C Marketplaces\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/3_n4WqsYYOI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n<p>N\u1ebfu mu\u1ed1n, b\u1ea1n c\u00f3 th\u1ec3 nghe t\u1eadp \u0111\u00f3 trong tr\u00ecnh ph\u00e1t podcast \u0111\u01b0\u1ee3c nh\u00fang.<\/p>\n\n<iframe allow=\"autoplay *; encrypted-media *; fullscreen *; clipboard-write\" frameborder=\"0\" height=\"175\" style=\"width:100%;max-width:660px;overflow:hidden;border-radius:10px;\" sandbox=\"allow-forms allow-popups allow-same-origin allow-scripts allow-storage-access-by-user-activation allow-top-navigation-by-user-activation\" src=\"https:\/\/embed.podcasts.apple.com\/us\/podcast\/investor-in-1000-marketplaces-fabrice-grinda-fj-labs\/id1469704193?i=1000684791018\"><\/iframe>\n\n<p>Ngo\u00e0i video YouTube v\u00e0 tr\u00ecnh ph\u00e1t podcast nh\u00fang \u1edf tr\u00ean, b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 nghe podcast tr\u00ean <a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/investor-in-1000-marketplaces-fabrice-grinda-fj-labs\/id1469704193?i=1000684791018\" data-type=\"link\" data-id=\"https:\/\/podcasts.apple.com\/us\/podcast\/investor-in-1000-marketplaces-fabrice-grinda-fj-labs\/id1469704193?i=1000684791018\" target=\"_blank\" rel=\"noreferrer noopener\">iTunes<\/a> v\u00e0 <a href=\"https:\/\/open.spotify.com\/episode\/0AKbF6FBSqi6fFWyE8JZKO?si=XTe8-vwbT8WiBSVZgcK5AQ\" data-type=\"link\" data-id=\"https:\/\/open.spotify.com\/episode\/0AKbF6FBSqi6fFWyE8JZKO?si=XTe8-vwbT8WiBSVZgcK5AQ\" target=\"_blank\" rel=\"noreferrer noopener\">Spotify<\/a> .<\/p>\n\n<p><br\/><strong>B\u1ea3n ghi ch\u00e9p<\/strong><\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[0:00]  Ch\u00e0o m\u1eebng \u0111\u1ebfn v\u1edbi t\u1eadp m\u1edbi c\u1ee7a Unicorn Bakery. H\u00f4m nay ch\u00fang ta s\u1ebd xem x\u00e9t c\u00e1c th\u1ecb tr\u01b0\u1eddng v\u00e0 h\u01b0\u1edbng \u0111\u1ebfn n\u0103m 2025 v\u00ec n\u0103m nay \u0111ang di\u1ec5n ra nhanh h\u01a1n v\u00e0 m\u1ecdi th\u1ee9 \u0111ang tr\u1edf l\u1ea1i \u0111\u00fang h\u01b0\u1edbng v\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111ang l\u00e0m vi\u1ec7c tr\u1edf l\u1ea1i. V\u00e0 do \u0111\u00f3, t\u00f4i quy\u1ebft \u0111\u1ecbnh \u0111\u01b0a Fabrice Grindag l\u00ean. V\u00e0 Fabrice c\u00f3 l\u1ebd l\u00e0 ng\u01b0\u1eddi gi\u1ecfi nh\u1ea5t \u0111\u1ec3 n\u00f3i v\u1ec1 c\u00e1c th\u1ecb tr\u01b0\u1eddng sau khi th\u1ef1c hi\u1ec7n 1.192 kho\u1ea3n \u0111\u1ea7u t\u01b0 \u0111\u1ed9c \u0111\u00e1o v\u1edbi FJ Labs cho \u0111\u1ebfn nay. V\u00e0 FJ Labs 3 l\u00e0 m\u1ed9t qu\u1ef9 s\u1eafp k\u1ebft th\u00fac, chu\u1ea9n b\u1ecb cho fj4 ii g\u1ecdi l\u00e0 fj4 ngay b\u00e2y gi\u1edd v\u00ec n\u00f3 nhanh h\u01a1n nh\u01b0ng k\u1ebft th\u00fac gi\u1ed1ng nh\u01b0 nhi\u1ec1u h\u01a1n ho\u1eb7c gi\u1ed1ng nh\u01b0 355 l\u1ea7n tho\u00e1t v\u1ed1n ch\u00ednh x\u00e1c bao g\u1ed3m c\u1ea3 c\u00e1c l\u1ea7n tho\u00e1t v\u1ed1n m\u1ed9t ph\u1ea7n c\u00f3 l\u1ebd l\u00e0 m\u1ed9t trong nh\u1eefng c\u00e2u chuy\u1ec7n m\u00e0 t\u00f4i g\u1ecdi l\u00e0 n\u1ef1c c\u01b0\u1eddi nh\u1ea5t v\u00e0 c\u00f3 l\u1ebd kh\u00f4ng ph\u1ea3i l\u00e0 t\u1eeb \u0111\u00fang nh\u01b0ng l\u00e0 nh\u1eefng c\u00e2u chuy\u1ec7n n\u1ef1c c\u01b0\u1eddi m\u00e0 t\u00f4i \u0111\u00e3 nghe trong nh\u1eefng n\u0103m qua v\u00e0 m\u1ed9t trong nh\u1eefng nh\u00e2n v\u1eadt \u0111\u1ed9c \u0111\u00e1o nh\u1ea5t ngay c\u1ea3 khi c\u00f3 m\u1ed9t nh\u00f3m l\u1edbn \u0111\u1ee9ng sau n\u00f3 m\u00e0 t\u00f4i c\u0169ng \u0111\u00e3 bi\u1ebft \u0111\u1ebfn v\u00ec v\u1eady t\u00f4i ngh\u0129 fabrice ch\u00fang ta s\u1ebd ph\u1ea3i n\u00f3i v\u1ec1 c\u00e1c th\u1ecb tr\u01b0\u1eddng ng\u00e0y h\u00f4m nay v\u00e0 t\u00f4i r\u1ea5t vui khi \u0111\u01b0\u1ee3c m\u1eddi b\u1ea1n tham gia ch\u01b0\u01a1ng tr\u00ecnh m\u1ed9t l\u1ea7n n\u1eefa c\u1ea3m \u01a1n.    <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[0:57]  B\u1ea1n \u0111\u00e3 c\u00f3 t\u00f4i<\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[0:58]  V\u1eady th\u00ec b\u1ea1n \u0111\u00e3 l\u00e0 ng\u01b0\u1eddi s\u00e1ng l\u1eadp r\u1ed3i, gi\u1edd b\u1ea1n \u0111ang \u0111\u1ea7u t\u01b0, b\u1ea1n \u0111\u00e1nh gi\u00e1 nh\u01b0 th\u1ebf n\u00e0o v\u1ec1 c\u1ea3 hai g\u00f3c nh\u00ecn, b\u1ea1n \u0111\u00e1nh gi\u00e1 m\u1ed9t n\u0103m nh\u01b0 th\u1ebf n\u00e0o, b\u1ea1n \u0111ang xem x\u00e9t khung th\u1eddi gian n\u00e0o khi b\u1ea1n \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh v\u00e0 x\u00e2y d\u1ef1ng nh\u1eefng lu\u1eadn \u0111i\u1ec3m n\u00e0y, v\u1eady ch\u00fang ta l\u00e0 i.<\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[1:14]  S\u1ebd n\u00f3i l\u00e0 m\u1ed9t qu\u1ef9 ki\u1ec3u bottom-up c\u00f3 ngh\u0129a l\u00e0 ch\u00fang t\u00f4i kh\u00f4ng c\u00f3 danh m\u1ee5c \u0111\u1ea7u t\u01b0 x\u00e2y d\u1ef1ng tr\u01b0\u1edbc \u0111\u00f3, n\u01a1i ch\u00fang t\u00f4i ki\u1ec3u nh\u01b0 \u1ed3 ch\u00fang t\u00f4i mu\u1ed1n \u0111\u1ea7u t\u01b0 v\u00e0o \u0111\u00f3 \u1edf nhi\u1ec1u c\u00f4ng ty v\u00e0 \u0111\u00e2y ph\u1ea3i l\u00e0 lu\u1eadn \u0111i\u1ec3m. T\u00f4i ngh\u0129 r\u1eb1ng n\u00f3 quan tr\u1ecdng h\u01a1n, n\u1ebfu ch\u00fang t\u00f4i g\u1eb7p nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp m\u00e0 ch\u00fang t\u00f4i th\u00edch, ch\u00fang t\u00f4i s\u1ebd \u0111\u1ea7u t\u01b0. N\u1ebfu kh\u00f4ng, ch\u00fang t\u00f4i s\u1ebd kh\u00f4ng \u0111\u1ea7u t\u01b0. V\u00e0 trong nh\u1eefng n\u0103m nh\u01b0 21, khi ch\u00fang t\u00f4i c\u1ea3m th\u1ea5y m\u1ecdi th\u1ee9 \u0111\u1ec1u \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 qu\u00e1 cao, ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 v\u00e0o \u00edt c\u00f4ng ty h\u01a1n. V\u00e0 sau \u0111\u00f3 l\u00e0 nh\u1eefng n\u0103m nh\u01b0 23 ho\u1eb7c 24, khi th\u1ecb tr\u01b0\u1eddng, ngo\u1ea1i tr\u1eeb AI, suy tho\u00e1i h\u01a1n, ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 nh\u01b0 \u0111i\u00ean v\u00ec ch\u00fang t\u00f4i c\u1ea3m th\u1ea5y c\u01a1 h\u1ed9i l\u00e0 tuy\u1ec7t v\u1eddi. V\u00e0 lu\u1eadn \u0111i\u1ec3m th\u00ec t\u01b0\u01a1ng t\u1ef1. Ch\u00fang t\u00f4i c\u00f3 quan \u0111i\u1ec3m, ch\u00fang t\u00f4i th\u1ea5y c\u00e1c xu h\u01b0\u1edbng v\u00e0 c\u00e1ch c\u00e1c c\u00f4ng ty \u0111ang ph\u00e1t tri\u1ec3n. V\u00e0 khi ch\u00fang ta th\u1ea5y xu h\u01b0\u1edbng ph\u00e1t tri\u1ec3n v\u00ec nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp m\u1edbi \u0111\u01b0a ra c\u00e1c m\u00f4 h\u00ecnh v\u00e0 c\u00e1ch ti\u1ebfp c\u1eadn m\u1edbi, ch\u00fang ta ph\u00e1t tri\u1ec3n lu\u1eadn \u00e1n c\u1ee7a m\u00ecnh theo th\u1eddi gian v\u00e0 ch\u00fang ta th\u1ea5y c\u00e1c th\u1ecb tr\u01b0\u1eddng b\u1eaft \u0111\u1ea7u v\u1edbi c\u00e1c m\u00f4 h\u00ecnh cam k\u1ebft k\u00e9p n\u00e0y sau \u0111\u00f3 tr\u1edf n\u00ean gi\u1ed1ng nh\u01b0 theo chi\u1ec1u d\u1ecdc h\u01a1n theo chi\u1ec1u d\u1ecdc, v\u00ec v\u1eady ch\u00fang l\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng theo chi\u1ec1u ngang v\u00e0 th\u1ecb tr\u01b0\u1eddng theo chi\u1ec1u d\u1ecdc, sau \u0111\u00f3 ch\u00fang l\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c qu\u1ea3n l\u00fd v\u00e0 sau \u0111\u00f3 ch\u00fang ta c\u00f3 c\u00e1c lo\u1ea1i th\u1ecb tr\u01b0\u1eddng ch\u1ecdn th\u1ecb tr\u01b0\u1eddng, t\u00f4i s\u1ebd tr\u00ecnh b\u00e0y chi ti\u1ebft v\u1ec1 nh\u1eefng lo\u1ea1i th\u1ecb tr\u01b0\u1eddng n\u00e0y v\u00e0 ch\u1eafc ch\u1eafn s\u1ebd c\u00f3 nhi\u1ec1u xu h\u01b0\u1edbng h\u01a1n n\u1eefa x\u1ea3y ra v\u00e0o n\u0103m 2025 v\u00e0 ch\u00fang ta v\u1eabn \u0111ang \u1edf giai \u0111o\u1ea1n \u0111\u1ea7u c\u1ee7a cu\u1ed9c c\u00e1ch m\u1ea1ng th\u1ecb tr\u01b0\u1eddng, th\u1eadt \u0111\u00e1ng kinh ng\u1ea1c.       <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[2:20]  C\u1ea3m nh\u1eadn c\u1ee7a m\u1ecdi ng\u01b0\u1eddi v\u1ec1 n\u0103m 2025 th\u1ebf n\u00e0o. V\u00e0 \u0111\u1ec3 \u0111i s\u00e2u h\u01a1n, khi b\u1ea1n nh\u00ecn l\u1ea1i n\u0103m 2024, c\u1ea3m nh\u1eadn c\u1ee7a m\u1ecdi ng\u01b0\u1eddi v\u1ec1 n\u0103m 2024 th\u1ebf n\u00e0o v\u00e0 sau \u0111\u00f3 l\u00e0 d\u1ef1 \u0111o\u00e1n v\u1ec1 n\u0103m 2025 d\u1ef1a tr\u00ean \u0111i\u1ec1u \u0111\u00f3.  <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[2:34]  H\u00e3y \u0111\u1ec3 t\u00f4i n\u00f3i v\u1ec1 t\u00ecnh c\u1ea3m \u0111\u01b0\u1ee3c vi\u1ebft l\u1edbn trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m, v\u00ec v\u1eady n\u0103m 21 t\u1ea5t nhi\u00ean l\u00e0 m\u1ed9t n\u0103m s\u00f4i \u0111\u1ed9ng khi m\u1ecdi th\u1ee9 \u0111\u1ec1u s\u1ee7i b\u1ecdt v\u00e0 m\u1ecdi th\u1ee9 \u0111\u1ec1u \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 qu\u00e1 cao v\u00e0 khi l\u00e3i su\u1ea5t t\u0103ng l\u00ean v\u00ec \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m l\u00e0 m\u1ed9t t\u00e0i s\u1ea3n r\u1ee7i ro, \u0111\u00e3 c\u00f3 s\u1ef1 c\u1eaft gi\u1ea3m l\u1edbn v\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m \u0111\u00e3 suy tho\u00e1i v\u00e0 th\u1eadm ch\u00ed l\u00e0 suy tho\u00e1i, n\u1ebfu kh\u00f4ng ph\u1ea3i l\u00e0 m\u00f9a \u0111\u00f4ng l\u1ea1nh gi\u00e1 trong v\u00e0i n\u0103m qua. V\u00ec v\u1eady, n\u0103m 23 v\u00e0 24, ch\u00fang ta c\u00f3 t\u1ed5ng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m gi\u1ea3m kho\u1ea3ng 66 \u0111\u1ebfn 75% t\u1eeb \u0111\u1ec9nh xu\u1ed1ng \u0111\u00e1y. B\u00e2y gi\u1edd, t\u1ea5t nhi\u00ean, c\u00f3 th\u1ec3 \u0111\u1ec9nh \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 qu\u00e1 cao v\u00e0o n\u0103m 21, nh\u01b0ng n\u00f3 \u0111ang c\u1eaft gi\u1ea3m m\u1ea1nh v\u1edbi s\u1ed1 l\u01b0\u1ee3ng \u0111\u1ea7u t\u01b0 \u00edt h\u01a1n, quy m\u00f4 s\u00e9c th\u1ea5p h\u01a1n v\u00e0 v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 kh\u00f4ng c\u00f3 l\u1ed1i tho\u00e1t v\u00e0 kh\u00f4ng c\u00f3 thanh kho\u1ea3n n\u00e0o \u0111\u01b0\u1ee3c thu \u0111\u01b0\u1ee3c. V\u00e0 v\u00ec v\u1eady, \u0111\u00f3 l\u00e0 c\u00e2u chuy\u1ec7n c\u1ee7a hai th\u00e0nh ph\u1ed1. C\u00f3 m\u1ed9t \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m n\u00f3i chung, gi\u1ed1ng nh\u01b0 cu\u1ed9c suy tho\u00e1i s\u00e2u s\u1eafc n\u00e0y. C\u00f3 m\u1ed9t AI c\u1ef1c k\u1ef3 n\u00f3ng b\u1ecfng, s\u1ee7i b\u1ecdt v\u00e0 s\u00f4i \u0111\u1ed9ng v\u00e0 ti\u1ebfp t\u1ee5c nh\u01b0 v\u1eady. V\u00ec v\u1eady, t\u00f4i th\u1ef1c s\u1ef1 ngh\u0129 r\u1eb1ng n\u1ebfu nh\u00ecn l\u1ea1i n\u0103m 24, t\u00f4i mong \u0111\u1ee3i r\u1eb1ng suy tho\u00e1i c\u00f4ng ngh\u1ec7 s\u00e2u s\u1eafc s\u1ebd ti\u1ebfp t\u1ee5c v\u00e0 n\u00f3 \u0111\u00e3 ti\u1ebfp t\u1ee5c. L\u00e3i su\u1ea5t v\u1eabn cao. C\u01a1 h\u1ed9i thanh kho\u1ea3n v\u1eabn h\u1ea1n ch\u1ebf.        <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[3:41]  M&amp;A b\u1ecb h\u1ea1n ch\u1ebf m\u1ed9t ph\u1ea7n v\u00ec c\u00e1c c\u00f4ng ty kh\u00f4ng c\u00f3 nhi\u1ec1u ti\u1ec1n m\u1eb7t b\u00ean ngo\u00e0i AI v\u00e0 v\u00ec M&amp;A ch\u1ee7 y\u1ebfu b\u1ecb k\u00ecm h\u00e3m b\u1edfi c\u00e1c ch\u1ebf \u0111\u1ed9 qu\u1ea3n l\u00fd. SEC, FTC, FCC, v.v. v\u1ec1 c\u01a1 b\u1ea3n \u0111\u00e3 h\u1ea1n ch\u1ebf r\u1ea5t nhi\u1ec1u M&amp;A. V\u00ec v\u1eady, c\u00e1c c\u00f4ng ty l\u1edbn \u0111\u00e3 kh\u00f4ng mua c\u00e1c c\u00f4ng ty kh\u00e1c v\u00e0 th\u1ecb tr\u01b0\u1eddng IPO \u0111\u00e3 \u0111\u00f3ng c\u1eeda. V\u00ec v\u1eady, kh\u00f4ng c\u00f3 thanh kho\u1ea3n. Nhi\u1ec1u LP c\u1ea3m th\u1ea5y b\u1ecb ph\u01a1i b\u00e0y qu\u00e1 m\u1ee9c tr\u01b0\u1edbc c\u00e1c d\u1ef1 \u00e1n m\u1ea1o hi\u1ec3m. V\u00ec v\u1eady, c\u00e1c d\u1ef1 \u00e1n m\u1ea1o hi\u1ec3m n\u00f3i chung \u0111\u00e3 r\u01a1i v\u00e0o t\u00ecnh tr\u1ea1ng tr\u00ec tr\u1ec7 n\u00f3i chung, ngo\u1ea1i tr\u1eeb AI. Trong AI, nhi\u1ec1u ng\u01b0\u1eddi \u0111\u00e3 th\u1ea5y s\u1ef1 t\u0103ng tr\u01b0\u1edfng phi th\u01b0\u1eddng c\u1ee7a AI m\u1edf. H\u1ecd c\u1ea3m th\u1ea5y h\u1ecd s\u1ebd b\u1ecf l\u1ee1 c\u01a1 h\u1ed9i v\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, h\u1ecd kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng ch\u1ec9 bi\u1ebft \u0111\u1ebfn AI, kh\u00f4ng th\u1ef1c s\u1ef1 hi\u1ec3u r\u00f5 m\u00ecnh \u0111ang \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1i g\u00ec v\u00e0 ph\u00e2n bi\u1ec7t c\u00e1c s\u1ea3n ph\u1ea9m tuy\u1ec7t v\u1eddi kh\u00f4ng qu\u00e1 tuy\u1ec7t v\u1eddi, th\u01b0\u1eddng \u0111\u1ea7u t\u01b0 v\u00e0o nh\u1eefng g\u00ec t\u00f4i coi l\u00e0 c\u00e1c c\u00f4ng c\u1ee5 \u1ed5n, nh\u01b0ng gi\u1ed1ng nh\u01b0 \u0111\u1ed3ng phi c\u00f4ng ho\u1eb7c b\u1ea5t c\u1ee9 th\u1ee9 g\u00ec, nh\u01b0ng ch\u00fang kh\u00f4ng th\u1ef1c s\u1ef1 kh\u00e1c bi\u1ec7t. Ch\u00fang kh\u00f4ng ph\u1ea3i l\u00e0 c\u00e1c t\u1eadp d\u1eef li\u1ec7u kh\u00e1c bi\u1ec7t, LLM kh\u00e1c bi\u1ec7t, kh\u00f4ng c\u00f3 m\u00f4 h\u00ecnh kinh doanh kh\u1ea3 thi v\u00e0 t\u1ec7 nh\u1ea5t l\u00e0 \u0111\u1ecbnh gi\u00e1 \u0111i\u00ean r\u1ed3. V\u00ec v\u1eady, t\u00f4i ngh\u0129 r\u1eb1ng s\u1ebd c\u00f3 m\u1ed9t ng\u00e0y ph\u00e1n x\u00e9t v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m n\u00e0o \u0111\u00f3 trong kh\u00f4ng gian \u0111\u1ea7u t\u01b0 AI, m\u1eb7c d\u00f9 AI s\u1ebd bi\u1ebfn \u0111\u1ed5i th\u1ebf gi\u1edbi c\u1ee7a ch\u00fang ta. Nh\u01b0ng kh\u00f4ng, n\u00f3 \u0111\u00e3 t\u1eebng r\u1ea5t s\u00f4i \u0111\u1ed9ng v\u00e0 AI, s\u1ef1 tr\u00ec tr\u1ec7 \u1edf m\u1ecdi n\u01a1i kh\u00e1c. B\u00e2y gi\u1edd l\u00e0 25,           <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[4:50]  Th\u1ef1c ra, t\u00ecnh h\u00ecnh v\u0129 m\u00f4 kh\u00e1 t\u1ed1t. Ch\u00fang ta \u0111\u00e3 h\u1ea1 th\u1ea5p l\u1ea1m ph\u00e1t, \u0111\u1ea1t \u0111\u01b0\u1ee3c vi\u1ec7c l\u00e0m \u0111\u1ea7y \u0111\u1ee7, t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf v\u00e0 t\u0103ng tr\u01b0\u1edfng n\u0103ng su\u1ea5t kh\u00e1 t\u1ed1t. B\u00e2y gi\u1edd, khi t\u00f4i h\u01b0\u1edbng t\u1edbi n\u0103m 2025, t\u00f4i ng\u1edd r\u1eb1ng t\u00ecnh h\u00ecnh s\u1ebd v\u1eabn nh\u01b0 v\u1eady. T\u00ecnh h\u00ecnh v\u0129 m\u00f4 l\u00e0 ch\u00fang ta kh\u00f4ng c\u00f2n trong m\u00f4i tr\u01b0\u1eddng do v\u0129 m\u00f4 th\u00fac \u0111\u1ea9y n\u1eefa. Ch\u00fang ta \u0111ang \u1edf trong m\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t th\u1ea5p h\u01a1n m\u1ed9t ch\u00fat, l\u00e0nh t\u00ednh h\u01a1n m\u1ed9t ch\u00fat. V\u00e0 c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n chung v\u1eabn kh\u00e1 t\u1ed1t gi\u1eefa l\u1ea1m ph\u00e1t kh\u00e1 th\u1ea5p, vi\u1ec7c l\u00e0m cao, t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p th\u1ea5p v\u00e0 t\u0103ng tr\u01b0\u1edfng n\u0103ng su\u1ea5t kh\u00e1 t\u1ed1t. T\u00f4i hy v\u1ecdng, \u0111\u00f3 l\u00e0 hy v\u1ecdng, r\u1eb1ng th\u1ecb tr\u01b0\u1eddng M&amp;A v\u00e0 th\u1ecb tr\u01b0\u1eddng IPO b\u1eaft \u0111\u1ea7u m\u1edf c\u1eeda tr\u1edf l\u1ea1i v\u00e0 cu\u1ed1i c\u00f9ng ch\u00fang ta b\u1eaft \u0111\u1ea7u th\u1ea5y s\u1ef1 tho\u00e1i v\u1ed1n c\u1ee7a nh\u1eefng c\u00f4ng ty t\u1ed1t nh\u1ea5t trong danh m\u1ee5c \u0111\u1ea7u t\u01b0. T\u00f4i ngh\u0129 n\u00f3 s\u1ebd b\u1eaft \u0111\u1ea7u v\u00e0o n\u0103m 25 v\u00e0 s\u1ebd ti\u1ebfp t\u1ee5c v\u00e0o n\u0103m 26 v\u00e0 hy v\u1ecdng s\u1ebd t\u0103ng t\u1ed1c v\u00e0o n\u0103m 26 v\u00e0 27. V\u00e0 k\u1ebft qu\u1ea3 l\u00e0, t\u00f4i nghi ng\u1edd r\u1eb1ng th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m s\u1ebd l\u1edbn m\u1ea1nh ho\u1eb7c b\u1eaft \u0111\u1ea7u tho\u00e1t kh\u1ecfi t\u00ecnh tr\u1ea1ng tr\u00ec tr\u1ec7 b\u00ean ngo\u00e0i AI v\u00e0o n\u0103m 2025. V\u00e0 v\u00ec v\u1eady, t\u00f4i th\u1ef1c s\u1ef1 l\u1ea1c quan h\u01a1n v\u1ec1 th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m trong n\u0103m 25 v\u00e0 26 so v\u1edbi tr\u01b0\u1edbc \u0111\u00e2y. V\u00e0 v\u00e2ng, t\u00f4i s\u1ebd d\u1eebng l\u1ea1i \u1edf \u0111\u00e2y.          <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[5:56]  Vi\u1ec7c tho\u00e1t v\u1ed1n c\u00f3 ph\u1ea3i x\u1ea3y ra tr\u01b0\u1edbc khi th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m b\u1eaft \u0111\u1ea7u t\u0103ng t\u1ed1c tr\u1edf l\u1ea1i kh\u00f4ng? Hay b\u1ea1n n\u00f3i l\u00e0 do d\u1ef1 \u0111o\u00e1n r\u1eb1ng \u0111i\u1ec1u n\u00e0y s\u1ebd x\u1ea3y ra v\u00e0o n\u0103m 25, 26 ho\u1eb7c 27, ch\u1eb3ng h\u1ea1n nh\u01b0 b\u1ea5t c\u1ee9 ng\u00e0y ch\u00ednh x\u00e1c n\u00e0o, m\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u c\u00f3 nhi\u1ec1u kh\u1ea3 n\u0103ng h\u01a1n, v\u00e0 LP c\u0169ng c\u00f3 nhi\u1ec1u kh\u1ea3 n\u0103ng \u0111\u1ea7u t\u01b0 ti\u1ec1n v\u00e0o c\u00e1c qu\u1ef9 m\u1ed9t l\u1ea7n n\u1eefa. V\u1eady \u0111\u1ed9ng l\u1ef1c \u1edf \u0111\u00e2y l\u00e0 g\u00ec?  <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[6:17]  T\u00f4i ngh\u0129 l\u00e0 c\u1ea3 hai. R\u00f5 r\u00e0ng l\u00e0 khi c\u00e1c \u0111\u1ee3t tho\u00e1i v\u1ed1n di\u1ec5n ra, c\u00e1c LP s\u1ebd c\u00f3 \u0111\u01b0\u1ee3c thanh kho\u1ea3n v\u00e0 h\u1ecd s\u1eb5n s\u00e0ng vi\u1ebft l\u1ea1i s\u00e9c th\u00e0nh c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m h\u01a1n. Nh\u01b0ng nh\u00ecn chung, v\u00ec c\u00e1c lo\u1ea1i t\u00e0i s\u1ea3n kh\u00e1c, \u0111\u1eb7c bi\u1ec7t l\u00e0 th\u1ecb tr\u01b0\u1eddng c\u00f4ng c\u1ed9ng, \u0111\u00e3 ho\u1ea1t \u0111\u1ed9ng kh\u00e1 t\u1ed1t, n\u00ean c\u00f3 m\u1ed9t s\u1ed1 m\u1ee9c thanh kho\u1ea3n v\u00e0 l\u00e3i su\u1ea5t \u0111ang b\u1eaft \u0111\u1ea7u gi\u1ea3m. V\u00ec v\u1eady, t\u00f4i nghi ng\u1edd r\u1eb1ng ngay c\u1ea3 khi kh\u00f4ng c\u00f3 nh\u1eefng d\u1ea5u hi\u1ec7u tho\u00e1i v\u1ed1n ban \u0111\u1ea7u, s\u1ebd c\u00f3 nhi\u1ec1u nhu c\u1ea7u \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m v\u00e0 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m h\u01a1n \u1edf 25 so v\u1edbi 23 v\u00e0 24. R\u00f5 r\u00e0ng l\u00e0 n\u00f3 s\u1ebd t\u0103ng t\u1ed1c \u0111\u1ec3 \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 r\u1ea5t nhi\u1ec1u b\u1edfi c\u00e1c \u0111\u1ee3t tho\u00e1i v\u1ed1n, nh\u01b0ng n\u1ebfu ch\u00fang v\u1eabn ch\u01b0a x\u1ea3y ra, t\u00f4i ngh\u0129 c\u00f3 l\u1ebd v\u1eabn \u1ed5n.    <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[6:55]  G\u1ea7n \u0111\u00e2y t\u00f4i \u0111\u00e3 th\u1ef1c hi\u1ec7n m\u1ed9t t\u1eadp ng\u1eafn v\u1edbi Kevin Hartz, ng\u01b0\u1eddi m\u00e0 b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 bi\u1ebft, v\u00e0 Kevin n\u00f3i r\u1eb1ng hi\u1ec7n t\u1ea1i kh\u00f4ng c\u00f3 \u0111\u1ed9ng l\u1ef1c n\u00e0o \u0111\u1ec3 c\u00f4ng khai, v\u00e0 \u0111\u00f3 l\u00e0 nh\u1eefng g\u00ec ch\u00fang ta \u0111ang n\u00f3i \u0111\u1ebfn. V\u00e0 anh \u1ea5y c\u0169ng n\u00f3i r\u1eb1ng s\u1ebd kh\u00f4ng c\u00f3 th\u1eddi gian s\u1edbm. V\u00e0 t\u00f4i gi\u1ed1ng nh\u01b0, t\u1ea1i sao l\u00fac \u0111\u1ea7u, gi\u1ed1ng nh\u01b0, t\u1ea1i sao kh\u00f4ng c\u00f3, v\u00e0 b\u1ea1n c\u00f3 \u0111\u1ed3ng \u00fd kh\u00f4ng l\u00e0 t\u00f4i ngh\u0129 c\u00e2u h\u1ecfi \u0111\u1ea7u ti\u00ean. V\u00e0 c\u00e2u h\u1ecfi th\u1ee9 hai l\u00e0, \u0111i\u1ec1u g\u00ec c\u1ea7n thay \u0111\u1ed5i \u0111\u1ec3 th\u1ecb tr\u01b0\u1eddng IPO tr\u1edf n\u00ean h\u1ea5p d\u1eabn h\u01a1n m\u1ed9t l\u1ea7n n\u1eefa \u0111\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty t\u1ed1t m\u00e0 b\u1ea1n c\u0169ng \u0111ang \u0111\u1ec1 c\u1eadp, n\u00f3i r\u1eb1ng, n\u00e0y, c\u00e1c c\u00f4ng ty t\u1ed1t nh\u1ea5t m\u00e0 ch\u00fang ta c\u00f3 trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 hi\u1ec7n kh\u00f4ng tho\u00e1t ra v\u00e0 kh\u00f4ng IPO. V\u1eady \u0111i\u1ec1u g\u00ec c\u1ea7n thay \u0111\u1ed5i?    <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[7:30]  V\u00e2ng, c\u00f3 nhi\u1ec1u l\u00fd do kh\u00e1c nhau khi\u1ebfn m\u1ecdi ng\u01b0\u1eddi kh\u00f4ng mu\u1ed1n c\u00f4ng khai. Tr\u01b0\u1edbc h\u1ebft, n\u1ebfu ch\u00fang t\u00f4i l\u00e0 nh\u1eefng c\u00f4ng ty t\u1ed1t nh\u1ea5t trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 b\u1ea1n \u0111ang g\u1ed9p l\u1ea1i r\u1ea5t nhanh, th\u00ec kh\u00f4ng c\u00f3 l\u00fd do g\u00ec \u0111\u1ec3 b\u1ea1n c\u00f4ng khai, \u0111\u00fang kh\u00f4ng? N\u1ebfu b\u1ea1n l\u00e0 SpaceX ho\u1eb7c Stripe, v\u00e0 b\u1ea1n \u0111\u00e3 c\u00f3 quy\u1ec1n truy c\u1eadp v\u00e0o thanh kho\u1ea3n th\u00f4ng qua th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p v\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang \u0111\u1ed5 v\u1ed1n v\u00e0o b\u1ea1n, b\u1ea5t k\u1ec3 th\u1ef1c t\u1ebf l\u00e0 b\u1ea1n \u0111\u00e3 c\u00f3 gi\u00e1 tr\u1ecb h\u00e0ng tr\u0103m t\u1ef7 \u0111\u00f4 la trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a SpaceX&#8230; Th\u00ec vi\u1ec7c tr\u00ec ho\u00e3n IPO c\u00f3 l\u1ebd l\u00e0 h\u1ee3p l\u00fd, \u0111\u1eb7c bi\u1ec7t l\u00e0 v\u00ec b\u1ea1n kh\u00f4ng mu\u1ed1n gi\u1ea3i quy\u1ebft t\u1ea5t c\u1ea3 nh\u1eefng nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a vi\u1ec7c c\u00f4ng khai, vi\u1ec7c c\u00f4ng khai t\u1ea5t c\u1ea3 th\u00f4ng tin, gi\u1ea3i quy\u1ebft vi\u1ec7c tu\u00e2n th\u1ee7 M\u1ee5c 404 v\u00e0 SOX v\u00e0 t\u1ea5t c\u1ea3 c\u00e1c ch\u1ebf \u0111\u1ed9 qu\u1ea3n l\u00fd v\u00e0 n\u1ed7i \u0111au ph\u00e1t sinh t\u1eeb vi\u1ec7c c\u00f4ng khai. V\u00e0 v\u00ec v\u1eady, b\u1ea1n bi\u1ebft \u0111\u1ea5y, t\u00f4i ngh\u0129 ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 gi\u00e1n ti\u1ebfp v\u00e0o SpaceX v\u00e0o n\u0103m 2007, b\u1ea1n bi\u1ebft \u0111\u1ea5y, v\u00e0 \u0111\u00e3 18 n\u0103m, \u0111\u00e3 bao l\u00e2u r\u1ed3i, 17 n\u0103m v\u00e0 h\u1ecd v\u1eabn v\u1eady, ch\u00fang t\u00f4i \u0111\u00e3 18 n\u0103m t\u1ea1i th\u1eddi \u0111i\u1ec3m n\u00e0y, v\u00e0 h\u1ecd v\u1eabn ch\u01b0a c\u00f4ng khai v\u00e0 s\u1ebd kh\u00f4ng c\u00f4ng khai trong th\u1eddi gian t\u1edbi. v\u00e0 \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng sao c\u1ea3. C\u00f3 nh\u1eefng c\u00f4ng ty kh\u00f4ng th\u1ec3 th\u1ef1c s\u1ef1 l\u00ean s\u00e0n v\u00ec h\u1ecd huy \u0111\u1ed9ng v\u1ed1n \u1edf m\u1ee9c 21 v\u1edbi m\u1ee9c gi\u00e1 r\u1ea5t cao. V\u00e0 ng\u00e0y nay, th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai th\u1ef1c s\u1ef1 s\u1ebd c\u00f3 m\u1ee9c \u0111\u1ecbnh gi\u00e1 th\u1ea5p h\u01a1n so v\u1edbi c\u00e1c th\u01b0\u01a1ng hi\u1ec7u t\u01b0 nh\u00e2n. V\u00e0 v\u00ec v\u1eady \u0111\u1ed1i v\u1edbi h\u1ecd, vi\u1ec7c l\u00ean s\u00e0n l\u00e0 kh\u00f4ng h\u1ea5p d\u1eabn tr\u1eeb khi h\u1ecd th\u1ef1c s\u1ef1 c\u1ea7n v\u1ed1n v\u00e0 h\u1ecd b\u1ecb lo\u1ea1i kh\u1ecfi th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n. Nh\u01b0ng th\u00e0nh th\u1eadt m\u00e0 n\u00f3i, h\u1ecd c\u00f3 th\u1ec3 kh\u00f4ng ph\u1ea3i l\u00e0 \u1ee9ng c\u1eed vi\u00ean t\u1ed1t nh\u1ea5t. Nh\u01b0ng c\u00f3 b\u01b0\u1edbc trung gian n\u00e0y c\u1ee7a c\u00e1c c\u00f4ng ty m\u00e0 t\u00f4i ngh\u0129 l\u00e0 \u0111\u00e3 s\u1eb5n s\u00e0ng l\u00ean s\u00e0n.          <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[8:49]  Ch\u00fang c\u00f3 gi\u00e1 kh\u00e1 h\u1ee3p l\u00fd so v\u1edbi v\u00f2ng tr\u01b0\u1edbc v\u00e0 vi\u1ec7c l\u00ean s\u00e0n s\u1ebd l\u00e0 s\u1ef1 ki\u1ec7n thanh kho\u1ea3n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0, ng\u01b0\u1eddi s\u00e1ng l\u1eadp v\u00e0 LP c\u1ee7a h\u1ecd. V\u00e0 h\u1ecd c\u0169ng \u0111\u00e3 \u0111\u1ee7 mu\u1ed9n trong cu\u1ed9c ch\u01a1i \u0111\u1ec3 th\u1ef1c s\u1ef1 \u0111i, kh\u00f4ng, h\u1ecd \u0111\u00e3 l\u00e0 series G ngay b\u00e2y gi\u1edd. V\u00e0 v\u00ec v\u1eady c\u00f3 l\u1ebd kh\u00f4ng c\u00f2n v\u1ed1n n\u00e0o tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n th\u1ef1c s\u1ef1 c\u00f3 \u00fd ngh\u0129a n\u1eefa. V\u00e0 \u0111\u1ed1i v\u1edbi nh\u1eefng c\u00f4ng ty \u0111\u00f3, t\u00f4i ngh\u0129 vi\u1ec7c l\u00ean s\u00e0n l\u00e0 c\u00f3 \u00fd ngh\u0129a. V\u00e0 c\u00f3 nh\u1eefng c\u00f4ng ty nh\u01b0 ShipBob ho\u1eb7c Flexport ho\u1eb7c Klarna, v\u00e0 t\u00f4i ngh\u0129 h\u1ecd s\u1ebd l\u00ean s\u00e0n v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m n\u00e0o \u0111\u00f3 trong n\u0103m 25 ho\u1eb7c 26. Theo \u0111\u00f3, v\u0169 tr\u1ee5 c\u00e1c c\u00f4ng ty m\u00e0 vi\u1ec7c l\u00ean s\u00e0n c\u00f3 \u00fd ngh\u0129a s\u1ebd b\u1ecb h\u1ea1n ch\u1ebf h\u01a1n. B\u00e2y gi\u1edd, c\u00f3 c\u00e1ch n\u00e0o \u0111\u1ec3 l\u00e0m cho vi\u1ec7c l\u00ean s\u00e0n b\u1edbt g\u00e1nh n\u1eb7ng h\u01a1n v\u1ec1 c\u1ea3 chi ph\u00ed v\u00e0 gi\u00e1m s\u00e1t kh\u00f4ng?       C\u00f3 l\u1ebd.<\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[9:32]  \u0110\u00e3 \u0111\u1ee7 \u0111au \u0111\u1edbn khi kh\u00f4ng c\u00f3 \u00fd ngh\u0129a g\u00ec khi ni\u00eam y\u1ebft tr\u1eeb khi b\u1ea1n c\u00f3 gi\u00e1 tr\u1ecb kho\u1ea3ng 5 t\u1ef7 \u0111\u00f4 la tr\u1edf l\u00ean. N\u1ebfu kh\u00f4ng, b\u1ea1n s\u1ebd kh\u00f4ng c\u00f3 thanh kho\u1ea3n, b\u1ea1n kh\u00f4ng c\u00f3 ph\u1ea1m vi b\u1ea3o hi\u1ec3m v\u00f4 t\u1eadn. V\u00e0 \u0111i\u1ec1u \u0111\u00f3 \u0111\u00e3 t\u1eebng r\u1ea5t kh\u00e1c. T\u00f4i ngh\u0129 Microsoft \u0111\u00e3 ni\u00eam y\u1ebft khi v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00f4ng ty l\u00e0 260 tri\u1ec7u \u0111\u00f4 la. N\u1ebfu b\u1ea1n c\u00f3 gi\u00e1 tr\u1ecb 360 tri\u1ec7u \u0111\u00f4 la ng\u00e0y nay, b\u1ea1n kh\u00f4ng \u0111\u1ee7 kh\u1ea3 n\u0103ng \u0111\u1ec3 ni\u00eam y\u1ebft. B\u1ea1n ph\u1ea3i t\u1ed1n v\u00e0i tri\u1ec7u \u0111\u00f4 la m\u1ed7i n\u0103m \u0111\u1ec3 ni\u00eam y\u1ebft v\u00e0 b\u1ea1n s\u1ebd kh\u00f4ng c\u00f3 ph\u1ea1m vi b\u1ea3o hi\u1ec3m v\u00e0 thanh kho\u1ea3n. V\u1eady ch\u00fang ta c\u00f3 mu\u1ed1n h\u1ea1 th\u1ea5p \u0111i\u1ec1u n\u00e0y xu\u1ed1ng n\u1eefa kh\u00f4ng? C\u00f3 th\u1ec3, trong tr\u01b0\u1eddng h\u1ee3p \u0111\u00f3, n\u00f3 \u0111\u00f2i h\u1ecfi m\u1ed9t ch\u1ebf \u0111\u1ed9 kh\u00e1 s\u00e2u s\u1eafc, thay \u0111\u1ed5i ch\u1ebf \u0111\u1ed9 qu\u1ea3n l\u00fd, m\u00e0 t\u00f4i kh\u00f4ng th\u1ea5y trong c\u00e1c l\u00e1 b\u00e0i. V\u00e0 v\u00ec v\u1eady, t\u00f4i nghi ng\u1edd r\u1eb1ng ng\u01b0\u1ee1ng ni\u00eam y\u1ebft, \u00edt nh\u1ea5t l\u00e0 \u1edf Hoa K\u1ef3, s\u1ebd v\u1eabn kh\u00e1 cao. V\u00e0 \u0111i\u1ec1u \u0111\u00f3 \u1ed5n. T\u00f4i ngh\u0129 r\u1eb1ng n\u00f3 c\u00f3 ngh\u0129a l\u00e0 m\u1ed9t lo\u1ea1i b\u1ea3o v\u1ec7 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai v\u00e0 c\u00f4ng ch\u00fang n\u00f3i chung khi h\u1ecd mua t\u1ea5t v\u00e0 h\u1ecd kh\u00f4ng mua c\u00e1c c\u00f4ng ty t\u1ed3i. M\u1eb7c d\u00f9 \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 n\u00f3 c\u00f3 th\u1ec3 c\u1eaft gi\u1ea3m h\u1ecd v\u1ec1 c\u00e1c c\u00f4ng ty t\u0103ng tr\u01b0\u1edfng cao, n\u01a1i h\u1ea7u h\u1ebft t\u0103ng tr\u01b0\u1edfng cao di\u1ec5n ra tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n. V\u00e0 sau \u0111\u00f3, khi ch\u00fang kh\u00f4ng c\u00f2n t\u0103ng tr\u01b0\u1edfng cao n\u1eefa, ch\u00fang s\u1ebd tr\u1edf th\u00e0nh c\u00f4ng ty \u0111\u1ea1i ch\u00fang. V\u00ec v\u1eady, th\u1eadt t\u1ec7 n\u1ebfu b\u1ea1n l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai v\u00ec \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 h\u1ea7u h\u1ebft gi\u00e1 tr\u1ecb s\u1ebd thu\u1ed9c v\u1ec1 nh\u1eefng ng\u01b0\u1eddi nh\u01b0 t\u00f4i \u1edf ph\u00eda t\u01b0 nh\u00e2n. V\u1ec1 m\u1eb7t c\u1ea5u tr\u00fac, \u0111\u00f3 l\u00e0 nh\u1eefng g\u00ec n\u00f3 v\u1ed1n c\u00f3.              <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[10:38]  To\u00e0n b\u1ed9 \u0111\u1ed9ng l\u1ef1c n\u00e0y c\u00f3 \u00fd ngh\u0129a g\u00ec \u0111\u1ed1i v\u1edbi nh\u1eefng ng\u01b0\u1eddi nh\u01b0 b\u1ea1n, nh\u1eefng ng\u01b0\u1eddi \u0111i\u1ec1u h\u00e0nh c\u00e1c qu\u1ef9 th\u01b0\u1eddng ho\u1ea1t \u0111\u1ed9ng theo c\u01a1 s\u1edf 10 c\u1ed9ng 2, t\u1ee9c l\u00e0 10 n\u0103m c\u1ee7a m\u1ed9t \u0111\u01b0\u1eddng ch\u00e2n tr\u1eddi \u0111\u1ea7u t\u01b0, c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh m\u1ed9t ch\u00fat v\u00e0 k\u00e9o d\u00e0i? Nh\u01b0ng khi th\u1ea5y t\u1ea5t c\u1ea3 nh\u1eefng \u0111\u1ed9ng l\u1ef1c n\u00e0y thay \u0111\u1ed5i v\u00f2ng \u0111\u1eddi c\u1ee7a m\u1ed9t c\u00f4ng ty cho \u0111\u1ebfn khi m\u1ed9t s\u1ef1 ki\u1ec7n thanh kho\u1ea3n x\u1ea3y ra trong t\u01b0\u01a1ng lai, \u0111i\u1ec1u n\u00e0y s\u1ebd thay \u0111\u1ed5i ng\u00e0nh \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m nh\u01b0 th\u1ebf n\u00e0o? <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[11:05]  Kho\u1ea3ng th\u1eddi gian t\u1eeb khi \u0111\u1ea7u t\u01b0 \u0111\u1ebfn khi tho\u00e1t v\u1ed1n \u0111\u00e3 t\u0103ng l\u00ean \u0111\u00e1ng k\u1ec3. N\u00f3 \u0111\u00e3 li\u00ean t\u1ee5c t\u0103ng trong 20 n\u0103m qua. V\u00e0 \u0111\u00fang v\u1eady, ng\u00e0y nay, n\u1ebfu b\u1ea1n \u0111\u1ea7u t\u01b0 v\u00e0o h\u1ea1t gi\u1ed1ng, c\u00f3 l\u1ebd \u0111\u1ed1i v\u1edbi nh\u1eefng c\u00f4ng ty t\u1ed1t nh\u1ea5t, b\u1ea1n s\u1ebd v\u01b0\u1ee3t qu\u00e1 12 n\u0103m, 10 c\u1ed9ng 2. V\u00e0 b\u1ea1n s\u1ebd ph\u1ea3i xin th\u01b0 t\u1eeb LPA c\u1ee7a m\u00ecnh \u0111\u1ec3 gia h\u1ea1n th\u00eam n\u1eefa. Th\u1ef1c ra c\u00f3 l\u1ebd h\u1ee3p l\u00fd khi n\u00f3i nh\u01b0 v\u1eady v\u00ec ch\u00fang \u0111ang t\u00edch l\u0169y m\u1ea1nh m\u1ebd v\u00e0 b\u1ea1n kh\u00f4ng mu\u1ed1n tho\u00e1t v\u1ed1n qu\u00e1 s\u1edbm trong b\u1ea5t k\u1ef3 tr\u01b0\u1eddng h\u1ee3p n\u00e0o trong s\u1ed1 n\u00e0y. V\u1ea5n \u0111\u1ec1 theo quan \u0111i\u1ec3m c\u1ee7a ng\u00e0nh \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m l\u00e0 v\u00ec DPI kh\u00e1 th\u1ea5p, do \u0111\u00f3, v\u1ed1n ph\u00e2n ph\u1ed1i, s\u1ed1 ti\u1ec1n tho\u00e1t v\u1ed1n m\u00e0 ch\u00fang t\u00f4i nh\u1eadn \u0111\u01b0\u1ee3c tr\u00ean \u0111\u01b0\u1eddng \u0111i l\u00ean, ch\u00eanh l\u1ec7ch gi\u1eefa th\u1eddi \u0111i\u1ec3m b\u1ea1n huy \u0111\u1ed9ng v\u1ed1n v\u00e0 th\u1eddi \u0111i\u1ec3m b\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c v\u1ed1n, c\u00f3 th\u1ec3 c\u00f3 \u0111\u1ed9 tr\u1ec5 ba qu\u1ef9. Ch\u00fang t\u00f4i hi\u1ec7n \u0111ang \u1edf qu\u1ef9 th\u1ee9 t\u01b0, ch\u00fang t\u00f4i s\u1eafp huy \u0111\u1ed9ng \u0111\u01b0\u1ee3c 25% trong qu\u00fd 1.      <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[11:56]  Qu\u1ef9 \u0111\u1ea7u ti\u00ean c\u1ee7a ch\u00fang t\u00f4i hi\u1ec7n \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e2n ph\u1ed1i \u0111\u1ea7y \u0111\u1ee7, ngh\u0129a l\u00e0 ch\u00fang t\u00f4i \u0111\u00e3 ho\u00e0n l\u1ea1i 1x v\u1ed1n. Theo m\u1ed9t c\u00e1ch n\u00e0o \u0111\u00f3, qu\u1ef9 \u0111\u1ea7u ti\u00ean tho\u00e1t ra v\u00e0 ch\u00fang t\u00f4i \u0111ang \u1edf top 10 c\u1ee7a DPI. V\u00e0 v\u00ec v\u1eady, h\u1ea7u h\u1ebft c\u00e1c qu\u1ef9, c\u00f3 l\u1ebd, c\u00f3 \u0111\u1ed9 tr\u1ec5 b\u1ed1n, n\u0103m, s\u00e1u qu\u1ef9 gi\u1eefa \u0111\u1ea7u t\u01b0 v\u00e0 tho\u00e1t ra, \u0111\u00f3 l\u00e0 d\u00f2ng ti\u1ec1n \u00e2m l\u1edbn. Tuy nhi\u00ean, \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 \u0111\u1ed1i v\u1edbi nh\u1eefng ng\u01b0\u1eddi nh\u01b0 ch\u00fang t\u00f4i, l\u00fd do ch\u00fang t\u00f4i c\u00f3 th\u1ec3, theo m\u1ed9t c\u00e1ch n\u00e0o \u0111\u00f3, tho\u00e1t kh\u1ecfi n\u00f3 v\u1edbi DPI cao l\u00e0 v\u00ec ch\u00fang t\u00f4i vi\u1ebft s\u00e9c nh\u1ecf. Ch\u00fang t\u00f4i \u0111\u00e3 nh\u1eadn \u0111\u01b0\u1ee3c r\u1ea5t nhi\u1ec1u kho\u1ea3n tho\u00e1t ra th\u00f4ng qua c\u00e1c kho\u1ea3n th\u1ee9 c\u1ea5p. V\u00e0 v\u00ec v\u1eady, c\u00e1c th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p th\u1ef1c s\u1ef1 \u0111\u00e3 b\u00f9ng n\u1ed5. V\u00ec v\u1eady, m\u1ed9t trong nh\u1eefng xu h\u01b0\u1edbng l\u1edbn h\u01a1n trong \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m l\u00e0 ng\u00e0y c\u00e0ng c\u00f3 nhi\u1ec1u kho\u1ea3n th\u1ee9 c\u1ea5p, c\u1ea3 trong c\u00e1c c\u00f4ng ty, nh\u01b0ng th\u1ef1c t\u1ebf l\u00e0 trong c\u00e1c qu\u1ef9. C\u00f3 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi \u0111ang mua c\u00e1c v\u1ecb th\u1ebf to\u00e0n di\u1ec7n ho\u1eb7c c\u00e1c v\u1ecb th\u1ebf LP t\u1eeb c\u00e1c LP kh\u00e1c, \u0111\u1eb7c bi\u1ec7t l\u00e0 trong c\u00e1c qu\u1ef9 giai \u0111o\u1ea1n cu\u1ed1i ho\u1eb7c c\u00e1c qu\u1ef9 \u0111\u00e3 tri\u1ec3n khai trong 10 n\u0103m ho\u1eb7c 12 n\u0103m ho\u1eb7c b\u1ea5t k\u1ef3 th\u1eddi gian n\u00e0o, v\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111\u00e3 m\u1ec7t m\u1ecfi v\u00e0 h\u1ecd ch\u1ec9 mu\u1ed1n tho\u00e1t ra. V\u00e0 b\u1ea1n c\u0169ng c\u00f3 nh\u1eefng ng\u01b0\u1eddi mua c\u00e1c v\u1ecb th\u1ebf trong c\u00e1c GP c\u1ee7a qu\u1ef9. V\u00ec v\u1eady, c\u00e1c qu\u1ef9 th\u1ee9 c\u1ea5p \u0111ang tr\u1edf n\u00ean l\u1edbn h\u01a1n v\u00e0 l\u1edbn h\u01a1n. V\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p nh\u01b0 Forge, Equities, InsurancePost, NASDAQ, c\u00e1c th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n \u0111ang ng\u00e0y c\u00e0ng l\u1edbn h\u01a1n khi m\u1ecdi ng\u01b0\u1eddi theo \u0111u\u1ed5i t\u00ednh thanh kho\u1ea3n. V\u00ec v\u1eady, \u0111\u00f3 l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn. V\u00e0 b\u1eb1ng c\u00e1ch \u0111\u1ea7u t\u01b0 ngay b\u00e2y gi\u1edd, t\u00f4i ngh\u0129 r\u1eb1ng v\u00e0o c\u00e1c qu\u1ef9 th\u1ee9 c\u1ea5p c\u00f3 \u00fd ngh\u0129a r\u1ea5t l\u1edbn v\u00ec t\u00ednh thanh kho\u1ea3n \u0111ang \u1edf m\u1ee9c cao. V\u00e0 v\u00ec v\u1eady, b\u1ea1n c\u00f3 th\u1ec3 mua c\u00e1c v\u1ecb th\u1ebf c\u1ee7a c\u00e1c c\u00f4ng ty v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u t\u1ed1t, nh\u01b0ng b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 mua c\u00e1c v\u1ecb th\u1ebf trong c\u00e1c qu\u1ef9 t\u1ed1t v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u r\u1ea5t l\u1edbn, nh\u01b0 40, 50, 60% so v\u1edbi NAV c\u1ee7a nh\u1eefng ng\u01b0\u1eddi mu\u1ed1n c\u00f3 t\u00ednh thanh kho\u1ea3n.             <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[13:26]  \u0110i\u1ec1u n\u00e0y \u1ea3nh h\u01b0\u1edfng th\u1ebf n\u00e0o \u0111\u1ebfn c\u00e1ch t\u00f4i, v\u1edbi t\u01b0 c\u00e1ch l\u00e0 ng\u01b0\u1eddi s\u00e1ng l\u1eadp, x\u00e1c \u0111\u1ecbnh xem m\u00ecnh mu\u1ed1n m\u1eddi ai tham gia v\u1edbi t\u01b0 c\u00e1ch l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0?<\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[13:34]  Nh\u00ecn chung, tr\u01b0\u1edbc h\u1ebft, vi\u1ec7c ch\u1ecdn m\u1ed9t \u0111\u1ea1i s\u1ee9 gi\u1ed1ng nh\u01b0 m\u1ed9t cu\u1ed9c h\u00f4n nh\u00e2n, \u0111\u00fang kh\u00f4ng? H\u1ecd l\u00e0 \u0111\u1ea1i s\u1ee9 ch\u00ednh c\u1ee7a b\u1ea1n. H\u1ecd n\u1eb1m trong ban qu\u1ea3n l\u00fd c\u1ee7a b\u1ea1n. B\u1ea1n s\u1ebd \u1edf b\u00ean h\u1ecd m\u00e3i m\u00e3i. V\u00ec v\u1eady, h\u00e3y ch\u1ecdn m\u1ed9t ng\u01b0\u1eddi th\u00edch b\u1ea1n, hi\u1ec3u nh\u1eefng g\u00ec b\u1ea1n \u0111ang l\u00e0m, \u1ee7ng h\u1ed9 b\u1ea1n v\u00e0 s\u1ebd g\u1eafn b\u00f3 v\u1edbi b\u1ea1n trong c\u1ea3 th\u1eddi \u0111i\u1ec3m thu\u1eadn l\u1ee3i v\u00e0 kh\u00f3 kh\u0103n. Theo quan \u0111i\u1ec3m v\u1ec1 c\u1ea5u tr\u00fac v\u1ed1n c\u1ee7a VC, t\u00f4i ch\u1ecdn c\u00e1c VC v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n. V\u00e0 cho d\u00f9 h\u1ecd c\u00f3 tho\u00e1t ra trong 5 n\u0103m, 10 n\u0103m hay 15 n\u0103m n\u1eefa hay kh\u00f4ng, theo m\u1ed9t c\u00e1ch n\u00e0o \u0111\u00f3, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng quan tr\u1ecdng \u0111\u1ed1i v\u1edbi h\u1ecd. V\u00e0 do \u0111\u00f3, b\u1ea1n s\u1ebd kh\u00f4ng b\u1ecb \u0111\u1ea9y v\u00e0o t\u00ecnh tr\u1ea1ng tho\u00e1t ra s\u1edbm h\u01a1n mong mu\u1ed1n. V\u00e0 t\u1ea5t nhi\u00ean, nh\u1eefng ng\u01b0\u1eddi \u0111\u00e3 g\u1eafn b\u00f3 l\u00e2u d\u00e0i, nh\u1eefng ng\u01b0\u1eddi c\u00f3 ngu\u1ed3n v\u1ed1n d\u00e0i h\u1ea1n v\u00f4 h\u1ea1n, c\u00f3 l\u1ebd l\u00e0 nh\u1eefng l\u1ef1a ch\u1ecdn t\u1ed1t nh\u1ea5t cho \u0111i\u1ec1u \u0111\u00f3. Benchmark, Sequoia, nh\u1eefng ng\u01b0\u1eddi l\u00e0 nh\u1eefng th\u01b0\u01a1ng hi\u1ec7u c\u00f3 v\u1ed1n cam k\u1ebft d\u00e0i h\u1ea1n cho qu\u1ef9 c\u1ee7a h\u1ecd, h\u1ecd kh\u00f4ng v\u1ed9i v\u00e0ng tho\u00e1t ra. V\u00e0 tr\u00ean th\u1ef1c t\u1ebf, h\u1ecd \u0111\u00e3 chuy\u1ec3n \u0111\u1ed5i qu\u1ef9 c\u1ee7a m\u00ecnh t\u1eeb qu\u1ef9 t\u01b0 nh\u00e2n sang qu\u1ef9 c\u00f4ng t\u01b0, n\u01a1i h\u1ecd c\u00f3 th\u1ec3 n\u1eafm gi\u1eef ch\u1ee9ng kho\u00e1n c\u00f4ng m\u00e3i m\u00e3i. B\u1ea1n bi\u1ebft \u0111\u1ea5y, \u0111\u00f3 l\u00e0 l\u00fd do t\u1ea1i sao Sequoia kh\u00f4ng ph\u1ea3i l\u00e0 IRA. Nh\u01b0ng \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ef1c s\u1ef1 quan tr\u1ecdng kh\u00f4ng? T\u00f4i ngh\u0129 nh\u00ecn chung l\u00e0 kh\u00f4ng th\u1ef1c s\u1ef1 quan tr\u1ecdng. H\u1ea7u h\u1ebft c\u00e1c VC s\u1ebd l\u00e0m v\u1eady, h\u1ecd s\u1ebd t\u1ef1 t\u00ecm ra c\u1ea5u tr\u00fac v\u1ed1n c\u1ee7a ri\u00eang m\u00ecnh v\u00e0 h\u1ecd \u0111\u1ec3 nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp h\u1ecdp, \u0111\u00fang kh\u00f4ng? Gi\u1ed1ng nh\u01b0 v\u00e0o cu\u1ed1i ng\u00e0y, \u0111i\u1ec1u cu\u1ed1i c\u00f9ng b\u1ea1n mu\u1ed1n l\u00e0m l\u00e0 bu\u1ed9c m\u1ed9t c\u00f4ng ty ph\u1ea3i b\u00e1n qu\u00e1 s\u1edbm v\u00ec n\u00f3 \u0111ang t\u00edch l\u0169y. V\u00e0 v\u00ec v\u1eady t\u00f4i s\u1ebd kh\u00f4ng lo l\u1eafng nhi\u1ec1u nh\u01b0 v\u1eady. V\u00e0 nh\u00e2n ti\u1ec7n, ch\u00fang t\u00f4i t\u1ea1i FJ, l\u00fd do DPI c\u1ee7a ch\u00fang t\u00f4i cao l\u00e0 v\u00ec ch\u00fang t\u00f4i s\u1edf h\u1eefu 2-3% c\u00f4ng ty. Ch\u00fang t\u00f4i c\u00f3 th\u1ec3 \u0111i v\u00e0 mua c\u1ed5 phi\u1ebfu th\u1ee9 c\u1ea5p. Tr\u00ean th\u1ef1c t\u1ebf, r\u1ea5t nhi\u1ec1u VC h\u1ecfi ch\u00fang t\u00f4i, n\u00e0y, b\u1ea1n c\u00f3 phi\u1ec1n b\u00e1n m\u1ed9t ph\u1ea7n v\u1ecb th\u1ebf c\u1ee7a m\u00ecnh kh\u00f4ng? Ch\u00fang t\u00f4i mu\u1ed1n s\u1edf h\u1eefu nhi\u1ec1u h\u01a1n m\u1ed9t ch\u00fat \u0111\u1ed1i v\u1edbi c\u00e1c \u0111\u1ee3t t\u0103ng gi\u00e1. V\u00e0 v\u00ec v\u1eady, nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp th\u1ef1c s\u1ef1 h\u1ecfi ch\u00fang t\u00f4i r\u1eb1ng li\u1ec7u ch\u00fang t\u00f4i c\u00f3 s\u1eb5n l\u00f2ng b\u00e1n kh\u00f4ng.                     <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[15:02]  Nh\u01b0ng n\u1ebfu b\u1ea1n l\u00e0 VC d\u1eabn \u0111\u1ea7u v\u00e0 b\u1ea1n c\u00f3 20% c\u00f4ng ty v\u00e0 b\u1ea1n \u0111ang \u1edf trong h\u1ed9i \u0111\u1ed3ng qu\u1ea3n tr\u1ecb, b\u1ea1n kh\u00f4ng th\u1ec3 th\u1ef1c hi\u1ec7n giao d\u1ecbch th\u1ee9 c\u1ea5p. B\u1edfi v\u00ec n\u1ebfu b\u1ea1n c\u1ed1 b\u00e1n, \u0111\u00f3 l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u ti\u00eau c\u1ef1c. \u1ed2, h\u1ecd bi\u1ebft g\u00ec v\u1ec1 c\u00f4ng ty m\u00e0 ch\u00fang ta kh\u00f4ng bi\u1ebft? V\u00e0 v\u00ec v\u1eady, n\u00f3 s\u1ebd gi\u1ebft ch\u1ebft c\u00f4ng ty. V\u00e0 v\u00ec v\u1eady, c\u00e1ch ti\u1ebfp c\u1eadn \u0111\u00f3 kh\u00f4ng th\u1ef1c s\u1ef1 hi\u1ec7u qu\u1ea3 \u0111\u1ed1i v\u1edbi VC d\u1eabn \u0111\u1ea7u. H\u1ecd c\u1ea7n ph\u1ea3i \u0111\u1ee3i cho \u0111\u1ebfn khi IPO. Tr\u00ean th\u1ef1c t\u1ebf, h\u1ecd th\u1eadm ch\u00ed kh\u00f4ng th\u1ec3 b\u00e1n sau khi kh\u00f3a s\u1ed5 v\u00ec h\u1ecd s\u1edf h\u1eefu qu\u00e1 nhi\u1ec1u c\u00f4ng ty. H\u1ecd \u0111\u00e3 b\u00e1n, gi\u00e1 s\u1ebd s\u1ee5p \u0111\u1ed5. V\u00e0 v\u00ec v\u1eady, \u0111\u1ed1i v\u1edbi VC d\u1eabn \u0111\u1ea7u, h\u1ecd s\u1ebd b\u1ecb kh\u00f3a trong m\u1ed9t th\u1eddi gian d\u00e0i. Ch\u1ec9 nh\u1eefng ng\u01b0\u1eddi nh\u01b0 ch\u00fang ta c\u00f3 t\u1ef7 l\u1ec7 ph\u1ea7n tr\u0103m nh\u1ecf m\u1edbi c\u00f3 th\u1ec3 b\u00e1n khi gi\u00e1 t\u0103ng. Th\u00e0nh th\u1eadt m\u00e0 n\u00f3i, t\u00f4i kh\u00f4ng ngh\u0129 \u0111i\u1ec1u \u0111\u00f3 thay \u0111\u1ed5i nhi\u1ec1u \u0111\u1ed1i v\u1edbi m\u1ed9t ng\u01b0\u1eddi s\u00e1ng l\u1eadp. Ch\u1ec9 c\u1ea7n ch\u1ecdn ng\u01b0\u1eddi \u1ee7ng h\u1ed9 b\u1ea1n v\u00e0 c\u00f3 v\u1ed1n \u0111\u1ec3 theo d\u00f5i. B\u00e2y gi\u1edd, m\u1ed9t \u0111i\u1ec1u m\u00e0 t\u00f4i ngh\u0129 quan tr\u1ecdng h\u01a1n l\u00e0, VC c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c h\u1ed7 tr\u1ee3 b\u1ea1n v\u00e0o giai \u0111o\u1ea1n h\u1ea1t gi\u1ed1ng, A, B, C, v.v. kh\u00f4ng? B\u1edfi v\u00ec ch\u00fang ta \u0111ang \u1edf trong m\u1ed9t th\u1ebf gi\u1edbi m\u00e0 b\u00ean ngo\u00e0i AI, v\u1ed1n kh\u00f3 ki\u1ebfm h\u01a1n. V\u00e0 v\u00ec v\u1eady, b\u1ea1n mu\u1ed1n tr\u1edf th\u00e0nh h\u1ea1t gi\u1ed1ng c\u00f3 \u0111\u1ee7 ti\u1ec1n \u0111\u1ec3 h\u1ecd c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n v\u00f2ng ng\u01b0\u1ee3c l\u1ea1i. V\u00ec v\u1eady, t\u00f4i s\u1ebd kh\u00f4ng lo l\u1eafng v\u1ec1 \u0111i\u1ec1u \u0111\u00f3 \u1edf h\u1ea1t gi\u1ed1ng \u01b0u ti\u00ean, b\u1edfi v\u00ec trong khi c\u00e1c qu\u1ef9 h\u1ea1t gi\u1ed1ng l\u00e0 qu\u1ef9 h\u1ea1t gi\u1ed1ng, ch\u00fang s\u1ebd kh\u00f4ng th\u1ef1c hi\u1ec7n A c\u1ee7a b\u1ea1n, ch\u00fang kh\u00f4ng c\u00f3 \u0111\u1ee7 v\u1ed1n. Nh\u01b0ng m\u1ed9t khi b\u1ea1n c\u00f3 \u0111\u01b0\u1ee3c c\u00e1c qu\u1ef9 A, r\u1ea5t nhi\u1ec1u qu\u1ef9 l\u00e0 qu\u1ef9 ch\u00e9o v\u00e0 ch\u00fang s\u1ebd th\u1ef1c hi\u1ec7n A v\u00e0 B, v.v. V\u00ec v\u1eady, h\u00e3y ngh\u0129 \u0111\u1ebfn m\u1ed9t l\u00e0n \u0111\u01b0\u1eddng b\u00ean tr\u00e1i. Ch\u00fang s\u1ebd th\u1ef1c hi\u1ec7n A, B, C, v.v. Ho\u1eb7c Andreessen ho\u1eb7c Sequoia. Ngo\u1ea1i l\u1ec7 duy nh\u1ea5t cho \u0111i\u1ec1u \u0111\u00f3 l\u00e0 c\u00e1c qu\u1ef9 A chuy\u00ean d\u1ee5ng tuy\u1ec7t v\u1eddi, nh\u01b0 Benchmark. M\u1eb7c d\u00f9 ch\u00fang kh\u00f4ng nh\u1ea5t thi\u1ebft ph\u1ea3i c\u00f3 v\u1ed1n \u0111\u1ec3 d\u1eabn \u0111\u1ea7u B c\u1ee7a b\u1ea1n, nh\u01b0ng kh\u00f4ng sao c\u1ea3. T\u00f4i v\u1eabn s\u1ebd ch\u1ecdn ch\u00fang. Ch\u00fang th\u1eadt tuy\u1ec7t v\u1eddi.                       <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[16:23]  V\u00e0o n\u0103m 2024, b\u1ea1n \u0111\u00e3 th\u1ef1c hi\u1ec7n 100 kho\u1ea3n \u0111\u1ea7u t\u01b0 l\u1ea7n \u0111\u1ea7u v\u1edbi FJ Labs v\u00e0o c\u00e1c c\u00f4ng ty. V\u00e0 do \u0111\u00f3, b\u1ea1n \u0111\u00e3 xem x\u00e9t h\u00e0ng ngh\u00ecn c\u00f4ng ty trong s\u1ed1 \u0111\u00f3, \u0111\u1eb7c bi\u1ec7t l\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng. V\u1eady th\u00ec, hi\u1ec7n t\u1ea1i b\u1ea1n \u0111ang x\u00e1c \u0111\u1ecbnh, nh\u00ecn th\u1ea5y v\u00e0 t\u00ecm ki\u1ebfm nh\u1eefng xu h\u01b0\u1edbng n\u00e0o khi \u0111\u00e1nh gi\u00e1 c\u00e1c doanh nghi\u1ec7p m\u1edbi? Nh\u1eefng \u0111i\u1ec1u g\u00ec \u0111ang xu\u1ea5t hi\u1ec7n ng\u00e0y c\u00e0ng nhi\u1ec1u ngay l\u00fac n\u00e0y m\u00e0 b\u1ea1n ngh\u0129 r\u1eb1ng, n\u00e0y, n\u0103m 2025 c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t c\u01a1 h\u1ed9i v\u00e0 c\u00f3 m\u1ed9t c\u00fa h\u00edch t\u1ed1t v\u00e0o xu h\u01b0\u1edbng n\u00e0y \u0111\u1ed1i v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng?   <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[16:52]  T\u00f4i s\u1ebd t\u00e1ch ra. Tr\u01b0\u1edbc h\u1ebft, ch\u00fang t\u00f4i \u0111\u1ea7u t\u01b0 1% trong s\u1ed1 c\u00e1c giao d\u1ecbch m\u00e0 ch\u00fang t\u00f4i th\u1ea5y. V\u00ec v\u1eady, \u0111\u1ed1i v\u1edbi 100 kho\u1ea3n \u0111\u1ea7u t\u01b0, ch\u00fang t\u00f4i \u0111\u00e3 th\u1ea5y 10.000 giao d\u1ecbch ho\u1eb7c thua l\u1ed7. Nh\u01b0ng t\u1ea5t nhi\u00ean, nhi\u1ec1u giao d\u1ecbch trong s\u1ed1 n\u00e0y n\u1eb1m ngo\u00e0i ph\u1ea1m vi, b\u1ea1n bi\u1ebft \u0111\u1ea5y, s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a ch\u00fang t\u00f4i, v.v. V\u00ec v\u1eady, ch\u00fang t\u00f4i \u0111\u00e3 kh\u00f4ng th\u1ef1c hi\u1ec7n, ch\u00fang t\u00f4i th\u1ef1c hi\u1ec7n c\u00e1c cu\u1ed9c g\u1ecdi trong s\u1ed1 300 cu\u1ed9c g\u1ecdi, c\u00e1c giao d\u1ecbch m\u00e0 ch\u00fang t\u00f4i nh\u1eadn \u0111\u01b0\u1ee3c trong m\u1ed9t tu\u1ea7n, ch\u00fang t\u00f4i th\u1ef1c hi\u1ec7n c\u00e1c cu\u1ed9c g\u1ecdi v\u1edbi 50 giao d\u1ecbch. V\u00e0 sau \u0111\u00f3 ch\u00fang t\u00f4i \u0111\u1ea7u t\u01b0 v\u00e0o ba giao d\u1ecbch. V\u00ec v\u1eady, \u0111\u00f3 l\u00e0 lo\u1ea1i 1%. V\u00ec v\u1eady, ch\u00fang t\u00f4i ch\u1ec9 th\u1ef1c hi\u1ec7n c\u00e1c cu\u1ed9c g\u1ecdi v\u1edbi kho\u1ea3ng m\u1ed9t ph\u1ea7n n\u0103m trong s\u1ed1 \u0111\u00f3. V\u00ec v\u1eady, c\u00f3 th\u1ec3 l\u00e0 2.000. B\u00e2y gi\u1edd, t\u00f4i s\u1ebd chia nh\u1ecf c\u00e1c xu h\u01b0\u1edbng th\u00e0nh hai nh\u00f3m. M\u1ed9t l\u00e0 c\u00e1c xu h\u01b0\u1edbng l\u1edbn, m\u00e0 ch\u00fang t\u00f4i \u0111ang xem nh\u01b0 m\u1ed9t danh m\u1ee5c chung. V\u00e0 sau \u0111\u00f3, gi\u1ed1ng nh\u01b0, t\u1ea1i sao kh\u00f4ng ph\u1ea3i l\u00e0 nh\u1eefng th\u1ee9 th\u00fa v\u1ecb c\u00f3 th\u1ec3 h\u00ecnh th\u00e0nh c\u01a1 s\u1edf cho m\u1ed9t xu h\u01b0\u1edbng l\u1edbn h\u01a1n? V\u00ec v\u1eady, h\u00e3y \u0111\u1ec3 t\u00f4i gi\u1ea3i th\u00edch s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa hai \u0111i\u1ec1u n\u00e0y. Xu h\u01b0\u1edbng l\u1edbn l\u1edbn m\u00e0 ch\u00fang t\u00f4i \u0111ang xem nh\u01b0 m\u1ed9t danh m\u1ee5c l\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng B2B v\u00e0 s\u1ed1 h\u00f3a chu\u1ed7i cung \u1ee9ng B2B \u0111ang tr\u1edf th\u00e0nh m\u1ed9t xu h\u01b0\u1edbng l\u1edbn. V\u00ec v\u1eady, n\u1ebfu b\u1ea1n ngh\u0129 v\u1ec1 cu\u1ed9c s\u1ed1ng ti\u00eau d\u00f9ng c\u1ee7a m\u00ecnh, b\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t \u0111\u1ed3 \u0103n tr\u00ean DoorDash ho\u1eb7c Uber Eats v\u00e0 b\u1ea1n s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c n\u00f3 trong v\u00f2ng 15 ph\u00fat. B\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t h\u00e0ng t\u1ea1p h\u00f3a tr\u00ean Instacart. B\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t h\u00e0ng tr\u00ean Amazon. B\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c m\u1ecdi th\u1ee9 trong v\u00f2ng m\u1ed9t \u0111\u1ebfn hai ng\u00e0y ho\u1eb7c th\u1eadm ch\u00ed \u0111\u00f4i khi l\u00e0 c\u00f9ng ng\u00e0y.                 <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[18:07]  B\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t ph\u00f2ng Airbnb. B\u1ea1n c\u00f3 th\u1ec3 g\u1ecdi Uber trong n\u0103m ph\u00fat. B\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t ph\u00f2ng kh\u00e1ch s\u1ea1n tr\u00ean Booking.com. Trong cu\u1ed9c s\u1ed1ng ti\u00eau d\u00f9ng c\u1ee7a b\u1ea1n, qu\u00e1 tr\u00ecnh s\u1ed1 h\u00f3a \u0111\u00e3 di\u1ec5n ra theo c\u00e1ch r\u1ea5t l\u1edbn v\u00e0 c\u00f3 \u00fd ngh\u0129a, v\u00e0 ph\u1ea7n m\u1ec1m \u0111\u00e3 v\u00e0 \u0111ang th\u1ed1ng tr\u1ecb th\u1ebf gi\u1edbi.   <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[18:25]  Tuy nhi\u00ean, trong th\u1ebf gi\u1edbi B2E, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng \u0111\u00fang. V\u00e0 \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng \u0111\u00fang \u1edf c\u1ea3 doanh nghi\u1ec7p l\u1edbn l\u1eabn doanh nghi\u1ec7p v\u1eeba v\u00e0 nh\u1ecf, \u0111\u00fang kh\u00f4ng? Gi\u1ed1ng nh\u01b0, v\u1eady, v\u00e0 t\u00f4i s\u1ebd \u0111\u01b0a ra hai v\u00ed d\u1ee5 ri\u00eang bi\u1ec7t. Doanh nghi\u1ec7p l\u1edbn, gi\u1ed1ng nh\u01b0, n\u1ebfu b\u1ea1n mu\u1ed1n mua h\u00f3a d\u1ea7u, th\u00ec kh\u00f4ng c\u00f3, gi\u1ed1ng nh\u01b0, danh m\u1ee5c c\u00f3 s\u1eb5n v\u1ec1 nh\u1eefng g\u00ec c\u00f3 s\u1eb5n. V\u00ec v\u1eady, t\u00f4i th\u1eadm ch\u00ed kh\u00f4ng n\u00f3i \u0111\u1ebfn Amazon, n\u01a1i b\u1ea1n \u0111\u00e3 c\u00f3 m\u1ed9t danh m\u1ee5c r\u1ed3i. T\u00f4i \u0111ang n\u00f3i \u0111\u1ebfn m\u1ed9t danh s\u00e1ch, ch\u1ec9 l\u00e0 danh s\u00e1ch nh\u1eefng g\u00ec c\u00f3 s\u1eb5n. Sau \u0111\u00f3, kh\u00f4ng c\u00f3 k\u1ebft n\u1ed1i \u0111\u1ebfn nh\u00e0 m\u00e1y \u0111\u1ec3 hi\u1ec3u n\u0103ng l\u1ef1c s\u1ea3n xu\u1ea5t v\u00e0 s\u1ef1 ch\u1eadm tr\u1ec5.       Kh\u00f4ng c\u00f3 \u0111\u1eb7t h\u00e0ng tr\u1ef1c tuy\u1ebfn. Kh\u00f4ng c\u00f3 thanh to\u00e1n tr\u1ef1c tuy\u1ebfn. Kh\u00f4ng c\u00f3 theo d\u00f5i v\u00e0 kh\u00f4ng c\u00f3 t\u00e0i ch\u00ednh. V\u00e0 \u0111i\u1ec1u n\u00e0y c\u1ea7n ph\u1ea3i x\u1ea3y ra trong m\u1ecdi ng\u00e0nh c\u00f4ng nghi\u1ec7p v\u00e0 m\u1ecdi ng\u00e0nh d\u1ecdc v\u00e0 m\u1ecdi danh m\u1ee5c. Ngay b\u00e2y gi\u1edd, ch\u00fang ta c\u00f3 t\u1ef7 l\u1ec7 th\u00e2m nh\u1eadp d\u01b0\u1edbi 5% v\u00e0 th\u01b0\u1eddng l\u00e0 d\u01b0\u1edbi 1% tr\u00ean t\u1ea5t c\u1ea3 nh\u1eefng \u0111i\u1ec1u n\u00e0y. V\u00e0 khi t\u00f4i ngh\u0129 v\u1ec1 nh\u1eefng lo\u1ea1i \u0111\u1ea7u v\u00e0o n\u00e0y, v\u00e0 t\u00f4i mu\u1ed1n n\u00f3i \u0111\u1ebfn \u0111\u1ea7u v\u00e0o \u0111\u01b0\u1ee3c vi\u1ebft l\u1edbn, nh\u01b0 ph\u1ee5 t\u00f9ng \u00f4 t\u00f4, x\u00e2y d\u1ef1ng, h\u00f3a ch\u1ea5t, n\u0103ng l\u01b0\u1ee3ng, nh\u01b0ng n\u00f3 c\u0169ng c\u00f3 th\u1ec3 gi\u1ed1ng nh\u01b0 h\u00e0ng h\u00f3a th\u00e0nh ph\u1ea9m. Kh\u00f4ng c\u00f3 g\u00ec trong s\u1ed1 \u0111\u00f3 \u0111\u01b0\u1ee3c s\u1ed1 h\u00f3a. Th\u1ee9 hai, n\u1ebfu b\u1ea1n ngh\u0129 v\u1ec1 cu\u1ed9c s\u1ed1ng c\u1ee7a ch\u1ee7 s\u1edf h\u1eefu SMB nh\u1ecf b\u00e9 c\u1ee7a b\u1ea1n, gi\u1ed1ng nh\u01b0 m\u1ed9t ch\u1ee7 c\u1eeda h\u00e0ng nh\u1ecf c\u1ee7a m\u1eb9 v\u00e0 con. V\u00ec v\u1eady, h\u00e3y t\u01b0\u1edfng t\u01b0\u1ee3ng b\u1ea1n s\u1edf h\u1eefu m\u1ed9t nh\u00e0 h\u00e0ng. Nh\u1eefng ng\u01b0\u1eddi s\u1edf h\u1eefu nh\u00e0 h\u00e0ng, h\u1ecd th\u00edch l\u00e0m g\u00ec? H\u1ecd th\u00edch n\u1ea5u \u0103n. H\u1ecd th\u00edch tr\u00f2 chuy\u1ec7n v\u1edbi kh\u00e1ch h\u00e0ng. Tuy nhi\u00ean, c\u00f4ng vi\u1ec7c m\u00e0 h\u1ecd ph\u1ea3i l\u00e0m ng\u00e0y h\u00f4m nay l\u00e0 g\u00ec? H\u1ecd c\u1ea7n t\u1ea1o m\u1ed9t trang web. H\u1ecd c\u1ea7n tr\u1ea3 l\u1eddi c\u00e1c b\u00ecnh lu\u1eadn tr\u00ean Google v\u00e0 Yelp v\u00e0 TripAdvisor. H\u1ecd c\u1ea7n c\u00f3 m\u1ed9t POS. H\u1ecd c\u1ea7n l\u00e0m k\u1ebf to\u00e1n. H\u1ecd c\u1ea7n qu\u1ea3n l\u00fd h\u00e0ng t\u1ed3n kho c\u1ee7a m\u00ecnh.                <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[19:42]  H\u1ecd c\u1ea7n ph\u1ea3i l\u00e0m b\u1ea3ng l\u01b0\u01a1ng. H\u1ecd c\u1ea7n \u0111\u00e0m ph\u00e1n v\u1edbi Uber v\u00e0 DoorDash. V\u00e0 do \u0111\u00f3, s\u1ed1 h\u00f3a SMB, b\u1ea1n \u1ea1, t\u1ea5t c\u1ea3 c\u00f4ng vi\u1ec7c m\u00e0 nh\u1eefng anh ch\u00e0ng SMB n\u00e0y kh\u00f4ng th\u00edch l\u00e0m c\u0169ng l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn. V\u00e0 t\u00f4i s\u1ebd cho b\u1ea1n m\u1ed9t v\u00e0i v\u00ed d\u1ee5. Trong SMB, ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 v\u00e0o Slice, gi\u00fap ch\u1ee7 ti\u1ec7m b\u00e1nh pizza qu\u1ea3n l\u00fd to\u00e0n b\u1ed9 v\u0103n ph\u00f2ng ph\u1ee5 tr\u1ee3 c\u1ee7a h\u1ecd. Hi\u1ec7n t\u1ea1i, h\u1ecd c\u00f3 20.000 ti\u1ec7m b\u00e1nh pizza tr\u00ean n\u1ec1n t\u1ea3ng n\u00e0y, doanh s\u1ed1 h\u01a1n m\u1ed9t t\u1ef7 \u0111\u00f4 la, r\u1ea5t c\u00f3 l\u00e3i. Ch\u00fang t\u00f4i c\u00f3 Freshia, c\u00f4ng ty c\u0169ng l\u00e0m nh\u01b0 v\u1eady cho c\u00e1c ti\u1ec7m c\u1eaft t\u00f3c. Ngh\u0129a l\u00e0 c\u00f4ng ty \u0111\u00f3 c\u0169ng l\u00e0m nh\u01b0 v\u1eady cho c\u00e1c ti\u1ec7m gi\u1eb7t l\u00e0 ho\u1eb7c c\u00f4ng ty gi\u1eb7t kh\u00f4. Ch\u00fang t\u00f4i c\u00f3 m\u1ed9t c\u00f4ng ty l\u00e0m nh\u01b0 v\u1eady cho c\u00e1c spa v\u00e0 ph\u00f2ng t\u1eadp yoga n\u00f3i chung, v.v., nh\u1eefng kho\u1ea3nh kh\u1eafc l\u1ea1nh l\u1ebdo, v.v. V\u00ec v\u1eady, ch\u00fang t\u00f4i \u0111ang qu\u1ea3ng c\u00e1o. V\u1ec1 ph\u00eda \u0111\u1ea7u v\u00e0o, ch\u00fang t\u00f4i \u0111ang \u1edf Nodi cho c\u00e1c s\u1ea3n ph\u1ea9m h\u00f3a d\u1ea7u. \u1ede \u0110\u1ee9c, ch\u00fang t\u00f4i \u0111ang \u1edf trong m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 ShootFlix, \u0111\u00e2y l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng ba m\u1eb7t \u0111\u1ec3 l\u1ea5y s\u1ecfi.           <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[20:33]  Ch\u00fang t\u00f4i \u0111ang \u1edf Material Bank, \u00fd t\u00f4i l\u00e0, \u1edf nhi\u1ec1u n\u01a1i kh\u00e1c. V\u00e0 ba xu h\u01b0\u1edbng kh\u00e1c, t\u00f4i mu\u1ed1n n\u00f3i, trong B2B l\u00e0 di chuy\u1ec3n chu\u1ed7i cung \u1ee9ng ra kh\u1ecfi Trung Qu\u1ed1c. T\u00f4i \u0111o\u00e1n xu h\u01b0\u1edbng chung m\u00e0 t\u00f4i g\u1ecdi l\u00e0 French shoring, \u0111\u1eb7c bi\u1ec7t l\u00e0 v\u00e0o \u1ea4n \u0110\u1ed9. V\u00ed d\u1ee5, n\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t \u00f4ng tr\u00f9m \u1edf H&amp;M v\u00e0 b\u1ea1n mu\u1ed1n mua qu\u1ea7n \u00e1o v\u00e0 b\u1ea1n mu\u1ed1n mua \u1edf \u1ea4n \u0110\u1ed9, th\u00ec v\u1ea5n \u0111\u1ec1 l\u00e0 \u1edf \u1ea4n \u0110\u1ed9, c\u00f3 h\u00e0ng ngh\u00ecn nh\u00e0 s\u1ea3n xu\u1ea5t nh\u1ecf l\u1ebb. V\u00e0 nh\u1eefng nh\u00e0 s\u1ea3n xu\u1ea5t nh\u1ecf l\u1ebb n\u00e0y mu\u1ed1n l\u00e0m g\u00ec? H\u1ecd ch\u1ec9 mu\u1ed1n s\u1ea3n xu\u1ea5t. H\u1ecd kh\u00f4ng bi\u1ebft c\u00e1ch nh\u1eadp RFQ. H\u1ecd kh\u00f4ng bi\u1ebft c\u00e1ch l\u1eadp h\u00f3a \u0111\u01a1n, t\u1ea1o m\u1eabu, v.v. V\u00ec v\u1eady, m\u1ed9t th\u1ecb tr\u01b0\u1eddng nh\u01b0 Ziad s\u1ebd l\u00e0m t\u1ea5t c\u1ea3 nh\u1eefng vi\u1ec7c \u0111\u00f3 cho h\u1ecd. V\u00ec v\u1eady, ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 v\u00e0o t\u1ea5t c\u1ea3 c\u00e1c th\u1ecb tr\u01b0\u1eddng n\u00e0y \u0111\u1ec3 gi\u00fap di chuy\u1ec3n chu\u1ed7i cung \u1ee9ng ra kh\u1ecfi Trung Qu\u1ed1c, ch\u1ee7 y\u1ebfu l\u00e0 v\u00e0o \u1ea4n \u0110\u1ed9, nh\u01b0ng r\u00f5 r\u00e0ng l\u00e0 c\u0169ng \u1edf Mexico, Vi\u1ec7t Nam, Philippines, Indonesia, v.v.         <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[21:18]  Th\u1ee9 t\u01b0, c\u00f3 r\u1ea5t nhi\u1ec1u th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng. Ch\u00fang \u0111ang n\u1ed5i l\u00ean \u0111\u1ec3 h\u1ed7 tr\u1ee3 s\u1ef1 gia t\u0103ng c\u1ee7a B2B. V\u00e0 v\u00ec v\u1eady ch\u00fang t\u00f4i \u0111ang \u1edf WorkRise, m\u1ed9t th\u1ecb tr\u01b0\u1eddng cho t\u1ea5t c\u1ea3 c\u00e1c nh\u00e2n vi\u00ean d\u1ecbch v\u1ee5. Ch\u00fang t\u00f4i \u0111ang \u1edf Job and Talent cho c\u00f4ng nh\u00e2n c\u1ed5 xanh \u1edf Ch\u00e2u \u00c2u. Ch\u00fang t\u00f4i \u0111ang \u1edf Trusted Health cho y t\u00e1.    <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[21:39]  V\u00e0 cu\u1ed1i c\u00f9ng nh\u01b0ng kh\u00f4ng k\u00e9m ph\u1ea7n quan tr\u1ecdng, th\u1ef1c ra l\u00e0 hai c\u00e1i n\u1eefa, Recommerce. T\u1ea5t nhi\u00ean, th\u01b0\u01a1ng m\u1ea1i \u0111i\u1ec7n t\u1eed hi\u1ec7n \u0111ang r\u1ea5t l\u1edbn trong l\u0129nh v\u1ef1c ti\u00eau d\u00f9ng, v\u00e0 n\u00f3 th\u1ef1c s\u1ef1 \u0111ang ti\u1ebfn v\u00e0o th\u1ebf gi\u1edbi B2B, v\u1eeba \u0111\u1ec3 gi\u1ea3m chi ph\u00ed v\u1eeba v\u00ec l\u00fd do xanh. V\u00ec v\u1eady, ch\u00fang t\u00f4i l\u00e0 m\u1ed9t c\u00f4ng ty \u0111\u1ea7u t\u01b0 c\u00f3 t\u00ean l\u00e0 Ghost, cho ph\u00e9p b\u1ea1n mua h\u00e0ng t\u1ed3n kho d\u01b0 th\u1eeba. V\u00ec v\u1eady, b\u1ea1n l\u00e0 m\u1ed9t c\u1eeda h\u00e0ng nh\u1ecf v\u00e0 b\u1ea1n c\u00f3 th\u1ec3 mua qu\u1ea7n \u00e1o v\u1edbi m\u1ee9c gi\u1ea3m gi\u00e1 90% t\u1eeb h\u00e0ng t\u1ed3n kho d\u01b0 th\u1eeba t\u1eeb c\u00e1c th\u01b0\u01a1ng hi\u1ec7u l\u1edbn h\u01a1n, sau \u0111\u00f3 b\u1ea1n c\u00f3 th\u1ec3 b\u00e1n ch\u00fang. V\u00e0 theo l\u1ecbch s\u1eed, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng t\u1ed3n t\u1ea1i v\u00ec c\u00e1c c\u1eeda h\u00e0ng n\u00e0y kh\u00f4ng th\u1ec3 mua m\u1ed9t tri\u1ec7u s\u1ea3n ph\u1ea9m. Nh\u01b0ng gi\u1edd \u0111\u00e2y b\u1ea1n c\u00f3 th\u1ec3 mua kho\u1ea3ng 10 ngh\u00ecn \u0111\u01a1n h\u00e0ng v\u00e0 khi\u1ebfn n\u00f3 ho\u1ea1t \u0111\u1ed9ng, nh\u01b0ng \u00edt nh\u1ea5t l\u00e0 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng h\u1ed7 tr\u1ee3 t\u1ea5t c\u1ea3 nh\u1eefng \u0111i\u1ec1u n\u00e0y, v\u00ec v\u1eady c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng thanh to\u00e1n nh\u01b0 stripe ho\u1eb7c c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng robot t\u1ef1 \u0111\u1ed9ng h\u00f3a nhanh ch\u00f3ng, c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng robot h\u00f3a r\u1ea5t ch\u00ednh th\u1ed1ng gi\u00fap m\u1ecdi ng\u01b0\u1eddi t\u1ef1 \u0111\u1ed9ng h\u00f3a ho\u1eb7c h\u00ecnh dung ra robot trong c\u00e1c nh\u00e0 m\u00e1y thay th\u1ebf lao \u0111\u1ed9ng c\u1ee7a con ng\u01b0\u1eddi v\u00e0 ch\u00fang \u0111ang \u1edf bmw t\u1ea1i \u0111\u1ee9c thay th\u1ebf kho\u1ea3ng 250 ngh\u00ecn th\u1ee3 m\u00e1y b\u1eb1ng m\u1ed9t robot 90 ngh\u00ecn n\u0103m l\u00e0m vi\u1ec7c 20 gi\u1edd m\u1ed9t ng\u00e0y v\u00e0 sau \u0111\u00f3 c\u00f3 c\u00e1c c\u00f4ng ty v\u1eadn chuy\u1ec3n nh\u01b0 Flexport, ShipBob, Shippo v\u00e0 th\u1eadm ch\u00ed c\u00e1c c\u00f4ng ty xuy\u00ean bi\u00ean gi\u1edbi m\u00e0 ch\u00fang t\u00f4i \u0111\u1ea7u t\u01b0 v\u00e0o, nh\u01b0 Portless. V\u00ec v\u1eady, t\u1ea5t c\u1ea3 nh\u1eefng \u0111i\u1ec1u \u0111\u00f3 gi\u1ed1ng nh\u01b0 c\u00e1c xu h\u01b0\u1edbng l\u1edbn trong B2B. B\u00e2y gi\u1edd, ngo\u00e0i c\u00e1c xu h\u01b0\u1edbng n\u00e0y trong B2B,       <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[22:50]  Ch\u00fang ta \u0111ang th\u1ea5y m\u1ed9t s\u1ed1 c\u00f4ng ty th\u00fa v\u1ecb \u0111ang l\u00e0m nh\u1eefng \u0111i\u1ec1u cho th\u1ea5y r\u1eb1ng c\u00f2n nhi\u1ec1u \u0111i\u1ec1u n\u1eefa s\u1ebd x\u1ea3y ra. V\u00ec v\u1eady, c\u00e1c xu h\u01b0\u1edbng l\u1edbn kh\u00e1c tr\u00ean th\u1ecb tr\u01b0\u1eddng, ch\u1eb3ng h\u1ea1n nh\u01b0 th\u01b0\u01a1ng m\u1ea1i xuy\u00ean bi\u00ean gi\u1edbi cu\u1ed1i c\u00f9ng c\u0169ng tr\u1edf th\u00e0nh hi\u1ec7n th\u1ef1c. H\u00e3y ngh\u0129 \u0111\u1ebfn Vinted. L\u00fd do Vinted tr\u1edf n\u00ean th\u00e0nh c\u00f4ng \u1edf nhi\u1ec1u qu\u1ed1c gia nh\u01b0 v\u1eady, th\u1ef1c t\u1ebf l\u00e0 h\u1ecd&#8230; Quay tr\u1edf l\u1ea1i th\u1eddi \u0111i\u1ec3m b\u1ea1n c\u00f3 c\u00e1c trang rao v\u1eb7t nh\u01b0 eBay, Klein &amp; Zagen, Klein &amp; Zagen ch\u1ec9 c\u00f3 danh s\u00e1ch \u1edf \u0110\u1ee9c. V\u00e0 Le Boncoin ch\u1ec9 c\u00f3 danh s\u00e1ch \u1edf Ph\u00e1p. V\u00e0 b\u1ea1n kh\u00f4ng v\u1eadn chuy\u1ec3n qua c\u00e1c qu\u1ed1c gia, v.v. Nh\u01b0ng v\u1ec1 c\u01a1 b\u1ea3n, Vinted d\u1ecbch c\u00e1c danh s\u00e1ch, d\u1ecbch c\u00e1c cu\u1ed9c tr\u00f2 chuy\u1ec7n gi\u1eefa nh\u1eefng ng\u01b0\u1eddi d\u00f9ng th\u00e0nh v\u1eadn chuy\u1ec3n xuy\u00ean bi\u00ean gi\u1edbi t\u00edch h\u1ee3p v\u00e0 t\u00edch h\u1ee3p thanh to\u00e1n xuy\u00ean bi\u00ean gi\u1edbi, do \u0111\u00f3, h\u1ecd \u0111\u00e3 t\u1ea1o ra l\u1ea7n \u0111\u1ea7u ti\u00ean m\u1ed9t th\u1ecb tr\u01b0\u1eddng to\u00e0n ch\u00e2u \u00c2u th\u1ef1c s\u1ef1. H\u1ecd \u0111\u00e3 t\u1ea1o ra m\u1ed9t th\u1ecb tr\u01b0\u1eddng \u1edf ch\u00e2u \u00c2u khi\u1ebfn ch\u00e2u \u00c2u tr\u00f4ng gi\u1ed1ng nh\u01b0 Hoa K\u1ef3. V\u00e0 n\u00f3 \u0111\u01b0\u1ee3c t\u00edch h\u1ee3p ho\u00e0n to\u00e0n, m\u1ed9t ng\u00f4n ng\u1eef, m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7, m\u1ed9t t\u1ea5t c\u1ea3 m\u1ecdi th\u1ee9, nh\u01b0ng th\u1ef1c s\u1ef1 \u0111ang di\u1ec5n ra. N\u00f3 ho\u00e0n to\u00e0n d\u1ec5 s\u1eed d\u1ee5ng. T\u00f4i th\u00edch n\u00f3. V\u00e2ng, v\u00e0 h\u1ecd \u0111ang l\u00e0m r\u1ea5t t\u1ed1t, ph\u1ea3i kh\u00f4ng? Gi\u1ed1ng nh\u01b0 c\u00f3 kho\u1ea3ng 6 t\u1ef7 trong GMB.             <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[23:47]  T\u00f4i ngh\u0129 h\u1ecd c\u00f3 l\u1ee3i nhu\u1eadn kh\u1ed5ng l\u1ed3 \u1edf Anh v\u00e0 Ch\u00e2u \u00c2u. R\u1ea5t l\u1edbn. V\u00e0 \u0111i\u1ec1u n\u00e0y \u0111ang x\u1ea3y ra \u1edf c\u00e1c danh m\u1ee5c kh\u00e1c. V\u00ec v\u1eady, ch\u00fang t\u00f4i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 Ovoco, m\u1ed9t th\u1ecb tr\u01b0\u1eddng ph\u1ee5 t\u00f9ng \u00f4 t\u00f4 c\u1ee7a Litva, t\u00ecm ngu\u1ed3n cung \u1ee9ng ph\u1ee5 t\u00f9ng \u00f4 t\u00f4 \u1edf \u0110\u00f4ng \u00c2u, nh\u01b0 \u1edf Ba Lan v\u00e0 Litva, v.v. V\u00e0 h\u1ecd \u0111ang b\u00e1n \u1edf nh\u1eefng n\u01a1i nh\u01b0 Ph\u00e1p. Ho\u00e0n to\u00e0n \u00e1p \u0111\u1ea3o. V\u00ec v\u1eady, xuy\u00ean bi\u00ean gi\u1edbi \u0111ang tr\u1edf th\u00e0nh hi\u1ec7n th\u1ef1c, \u0111\u1eb7c bi\u1ec7t l\u00e0 \u1edf Ch\u00e2u \u00c2u. Ch\u00e2u \u00c2u cu\u1ed1i c\u00f9ng c\u0169ng b\u1eaft \u0111\u1ea7u gi\u1ed1ng nh\u01b0 Hoa K\u1ef3. Xu h\u01b0\u1edbng l\u1edbn ti\u1ebfp theo l\u00e0 th\u01b0\u01a1ng m\u1ea1i tr\u1ef1c ti\u1ebfp. B\u00e2y gi\u1edd, t\u1ea1i Trung Qu\u1ed1c, tr\u00ean Taobao, gi\u1ed1ng nh\u01b0 eBay c\u1ee7a Trung Qu\u1ed1c, n\u1ebfu b\u1ea1n mu\u1ed1n, 25% doanh s\u1ed1 \u0111\u1ebfn t\u1eeb ph\u00e1t tr\u1ef1c ti\u1ebfp video. \u1ede Hoa K\u1ef3, \u0111i\u1ec1u n\u00e0y ch\u1ec9 x\u1ea3y ra \u1edf m\u1ed9t danh m\u1ee5c, \u0111\u00f3 l\u00e0 \u0111\u1ed3 s\u01b0u t\u1ea7m. C\u00f3 m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 WhatNot m\u00e0 ch\u00fang t\u00f4i kh\u00f4ng ph\u1ea3i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0. H\u1ecd v\u1eeba huy \u0111\u1ed9ng \u0111\u01b0\u1ee3c m\u1ee9c \u0111\u1ecbnh gi\u00e1 kho\u1ea3ng 5 t\u1ef7 \u0111\u00f4 la.            <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[24:32]  Nh\u01b0ng \u0111\u1ed1i v\u1edbi \u0111\u1ed3 s\u01b0u t\u1ea7m, n\u00f3 c\u00f3 v\u1ebb h\u1ee3p l\u00fd. Nh\u01b0ng gi\u1edd \u0111\u00e2y n\u00f3 \u0111ang di\u1ec5n ra \u1edf c\u00e1c ng\u00e0nh d\u1ecdc kh\u00e1c. V\u00ec v\u1eady, ch\u00fang t\u00f4i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 Palm Street. V\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, \u0111\u00f3 l\u00e0 nh\u1eefng ng\u01b0\u1eddi ti\u00eau d\u00f9ng chuy\u00ean nghi\u1ec7p trong c\u00e1c c\u1eeda h\u00e0ng nh\u1ecf b\u00e1n c\u00e2y qu\u00fd hi\u1ebfm. V\u00e0 h\u1ecd th\u1ef1c hi\u1ec7n hai lu\u1ed3ng m\u1ed7i tu\u1ea7n, h\u1ecd b\u00e1n \u0111\u01b0\u1ee3c kho\u1ea3ng m\u01b0\u1eddi ngh\u00ecn \u0111\u00f4 la ti\u1ec1n c\u00e2y m\u1ed7i th\u00e1ng, nh\u1eefng ng\u01b0\u1eddi ph\u1ee5 n\u1eef h\u1ecd mua nh\u1eefng th\u1ee9 n\u00e0y chi kho\u1ea3ng 1800 \u0111\u00f4 la m\u1ed7i s\u00e1u th\u00e1ng v\u00e0 th\u1eadt tuy\u1ec7t v\u1eddi v\u00ec m\u1ecdi ng\u01b0\u1eddi \u0111ang k\u1ec3 c\u00e2u chuy\u1ec7n v\u1ec1 ngu\u1ed3n g\u1ed1c c\u1ee7a c\u00e2y ho\u1eb7c b\u1ea1n ch\u0103m s\u00f3c n\u00f3, v.v. v\u00e0 n\u00f3 t\u1ea1o ra m\u1ed9t tr\u1ea3i nghi\u1ec7m phong ph\u00fa, v\u00ec v\u1eady mua s\u1eafm video tr\u1ef1c ti\u1ebfp cu\u1ed1i c\u00f9ng c\u0169ng \u0111ang \u0111\u1ebfn ph\u01b0\u01a1ng T\u00e2y v\u00e0 c\u00f4ng ty n\u00e0y ho\u00e0n to\u00e0n l\u00e0m ch\u1ee7 n\u00f3, v\u00ec v\u1eady t\u00f4i c\u00f3 th\u1ec3 t\u01b0\u1edfng t\u01b0\u1ee3ng c\u00e1c danh m\u1ee5c kh\u00e1c hi\u1ec7n \u0111ang t\u1ef1 m\u1edf r\u1ed9ng \u1edf c\u00e1c danh m\u1ee5c kh\u00e1c, tinh th\u1ec3 s\u1eaft v\u00e0 \u0111\u1ed3 g\u1ed1m qu\u00fd hi\u1ebfm, v.v. Sau \u0111\u00f3, ch\u00fang t\u00f4i \u0111ang ch\u1ee9ng ki\u1ebfn s\u1ef1 ra \u0111\u1eddi c\u1ee7a c\u00e1c ng\u00e0nh d\u1ecdc m\u1edbi. Ch\u00fang t\u00f4i \u0111ang \u1edf m\u1ed9t c\u00f4ng ty c\u1ee7a Ph\u00e1p c\u00f3 t\u00ean l\u00e0 Alpaga v\u00e0 h\u1ecd \u0111ang t\u1ea1o ra&#8230;      <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[25:21]  H\u1ecd l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng thi\u1ebft b\u1ecb nh\u00e0 h\u00e0ng B2B. V\u00e0 \u0111i\u1ec1u th\u00fa v\u1ecb l\u00e0 tr\u01b0\u1edbc \u0111\u00e2y n\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t nh\u00e0 h\u00e0ng, b\u1ea1n s\u1ebd ph\u1ea3i mua thi\u1ebft b\u1ecb m\u1edbi. Nh\u00e0 h\u00e0ng s\u1ebd th\u01b0\u1eddng xuy\u00ean ph\u00e1 s\u1ea3n. V\u00e0 sau \u0111\u00f3 h\u1ecd thay \u0111\u1ed5i m\u00f3n \u0103n, v.v. H\u1ecd c\u00f3 nh\u1eefng thi\u1ebft b\u1ecb n\u00e0y. H\u1ecd kh\u00f4ng th\u1ec3 b\u00e1n ch\u00fang v\u00ec n\u00f3 r\u1ea5t phi\u1ec1n ph\u1ee9c. B\u1ea1n kh\u00f4ng th\u1ec3 v\u1eadn chuy\u1ec3n ch\u00fang. V\u00e0 vi\u1ec7c l\u1eafp \u0111\u1eb7t c\u0169ng kh\u00f3 kh\u0103n h\u01a1n. V\u00ec v\u1eady, nh\u1eefng g\u00ec h\u1ecd \u0111\u00e3 l\u00e0m l\u00e0 x\u00e2y d\u1ef1ng m\u1ed9t m\u1ea1ng l\u01b0\u1edbi c\u00e1c nh\u00e0 cung c\u1ea5p d\u1ecbch v\u1ee5, \u0111\u01a1n v\u1ecb v\u1eadn chuy\u1ec3n v\u00e0 \u0111\u01a1n v\u1ecb l\u1eafp \u0111\u1eb7t. V\u00e0 b\u00e2y gi\u1edd th\u1ecb tr\u01b0\u1eddng ho\u1ea1t \u0111\u1ed9ng. V\u00e0 h\u1ecd \u0111\u00e3 gieo m\u1ea7m cho n\u00f3 b\u1eb1ng ngu\u1ed3n cung t\u1eeb c\u00e1c kh\u00e1ch s\u1ea1n, b\u1ebfp kh\u00e1ch s\u1ea1n nh\u01b0 Marriott, v.v. V\u00ec v\u1eady, vi\u1ec7c th\u00eam m\u1ed9t l\u1edbp d\u1ecbch v\u1ee5 v\u00e0o c\u00e1c danh m\u1ee5c hi\u1ec7n c\u00f3 c\u00f3 th\u1ec3 t\u1ea1o ra m\u1ed9t th\u1ecb tr\u01b0\u1eddng t\u1eeb \u0111\u1ea7u. V\u00ec v\u1eady, ch\u00fang ta c\u0169ng th\u1ea5y \u0111i\u1ec1u \u0111\u00f3 trong nh\u1eefng th\u1ee9 nh\u01b0, t\u00f4i \u0111o\u00e1n v\u1eady, xanh h\u00f3a l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn m\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u mu\u1ed1n xanh h\u00f3a ng\u00f4i nh\u00e0 c\u1ee7a h\u1ecd. Nh\u01b0ng theo truy\u1ec1n th\u1ed1ng, n\u1ebfu b\u1ea1n mu\u1ed1n xanh h\u00f3a ng\u00f4i nh\u00e0 c\u1ee7a m\u00ecnh, b\u1ea1n \u0111\u1ebfn m\u1ed9t n\u01a1i nh\u01b0 Thumbtack, b\u1ea1n c\u1ea7n thu\u00ea, b\u1ea1n t\u00ecm nh\u00e0 th\u1ea7u, h\u1ecd b\u00e1o gi\u00e1 cho b\u1ea1n v\u00e0 ch\u00fang t\u00f4i s\u1ebd l\u1eafp \u0111\u1eb7t m\u00e1y b\u01a1m nhi\u1ec7t. R\u1ea5t ph\u1ee9c t\u1ea1p. b\u1ea1n c\u1ea7n qu\u1ea3n l\u00fd kho\u1ea3ng 20 gi\u00e1 th\u1ea7u v\u00e0 sau \u0111\u00f3 b\u1ea1n th\u01b0\u1eddng b\u1ecb l\u1eeba khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 l\u00e0 m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 tetra v\u00e0 v\u1ec1 c\u01a1 b\u1ea3n ch\u1ee5p m\u1ed9t v\u00e0i b\u1ee9c \u1ea3nh v\u1ec1 h\u1ec7 th\u1ed1ng c\u1ee7a b\u1ea1n v\u00e0 h\u1ecd gi\u1ed1ng nh\u01b0 \u0111\u00e2y l\u00e0 nh\u00e0 cung c\u1ea5p \u0111\u00e2y l\u00e0 gi\u00e1 v\u00e0 h\u1ecd l\u00e0m \u0111i\u1ec1u \u0111\u00f3 cho b\u1ea1n v\u00e0 \u0111i\u1ec1u t\u01b0\u01a1ng t\u1ef1 h\u1ecd \u0111\u00e3 th\u00eam m\u1ed9t l\u1edbp d\u1ecbch v\u1ee5 v\u00e0o m\u1ed9t n\u1ebfu kh\u00f4ng th\u00ec v\u00e0o m\u1ed9t th\u1ecb tr\u01b0\u1eddng b\u00e1n b\u1ea1n \u0111ang c\u00e0i \u0111\u1eb7t hi\u1ec7u qu\u1ea3 nhi\u1ec7t ho\u1eb7c hi\u1ec7u qu\u1ea3 n\u0103ng l\u01b0\u1ee3ng v\u00e0 h\u1ecd \u0111ang nghi\u1ec1n n\u00e1t n\u00f3 v\u00ec v\u1eady t\u00f4i \u0111o\u00e1n l\u00e0 vi\u1ec7c th\u00eam c\u00e1c d\u1ecbch v\u1ee5 \u0111\u1ec3 th\u1ef1c hi\u1ec7n c\u00e1c giao d\u1ecbch C\u00e1c h\u00e0nh \u0111\u1ed9ng ph\u1ee9c t\u1ea1p, \u0111\u01a1n gi\u1ea3n, l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn kh\u00e1c. V\u00e0 t\u00f4i \u0111o\u00e1n t\u00f4i s\u1ebd cho b\u1ea1n bi\u1ebft th\u00eam m\u1ed9t v\u00e0i xu h\u01b0\u1edbng n\u1eefa. C\u00e1c m\u00f4 h\u00ecnh kinh doanh m\u1edbi \u0111ang n\u1ed5i l\u00ean. Ch\u00fang t\u00f4i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t c\u00f4ng ty \u1edf Ph\u00e1p c\u00f3 t\u00ean l\u00e0 La Bourse Olive, \u0111\u00e2y l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng s\u00e1ch.                  <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[26:49]  V\u00e0 \u0111i\u1ec1u \u0111\u1ed9c \u0111\u00e1o \u1edf \u0111\u00e2y l\u00e0 h\u1ecd l\u1ea5y 90% hoa h\u1ed3ng t\u1eeb vi\u1ec7c b\u00e1n s\u00e1ch. V\u00e0 b\u1ea1n t\u1ef1 h\u1ecfi, t\u1ea1i sao ai \u0111\u00f3 l\u1ea1i s\u1eb5n s\u00e0ng cho \u0111i 90% hoa h\u1ed3ng? V\u00e0 \u0111\u00f3 l\u00e0 v\u00ec thay v\u00ec l\u00e0m vi\u1ec7c \u0111\u1ec3 t\u1ed1i \u0111a h\u00f3a gi\u00e1, h\u1ecd \u0111ang t\u1ed1i \u0111a h\u00f3a hi\u1ec7u qu\u1ea3. N\u1ebfu b\u1ea1n l\u00e0 cha m\u1eb9 m\u1edbi, b\u1ea1n c\u00f3 r\u1ea5t nhi\u1ec1u s\u00e1ch. v\u00e0 \u0111\u1ebfn cu\u1ed1i ng\u00e0y, b\u1ea1n kh\u00f4ng c\u00f3 \u0111\u1ee7 ch\u1ed7 cho ch\u00fang. V\u00ec v\u1eady, b\u1ea1n c\u00f3 th\u1ec3 b\u00e1n ch\u00fang t\u1eebng c\u00e1i m\u1ed9t tr\u00ean Amazon, nh\u01b0ng \u0111i\u1ec1u \u0111\u00f3 th\u1eadt phi\u1ec1n ph\u1ee9c. B\u1ea1n c\u1ea7n qu\u00e9t, li\u1ec7t k\u00ea, b\u00e1n \u0111\u01b0\u1ee3c, b\u1ea1n c\u1ea7n v\u1eadn chuy\u1ec3n. \u1ede \u0111\u00e2y, v\u1ec1 c\u01a1 b\u1ea3n, b\u1ea1n s\u1ebd cho t\u1ea5t c\u1ea3 s\u00e1ch v\u00e0o m\u1ed9t h\u1ed9p, b\u1ea1n g\u1eedi cho h\u1ecd, th\u1ebf l\u00e0 xong. V\u00e0 b\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c 10% t\u00edn d\u1ee5ng \u0111\u1ec3 mua nh\u1eefng cu\u1ed1n s\u00e1ch kh\u00e1c. V\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, trong v\u00f2ng m\u1ed9t n\u0103m, h\u1ecd tr\u1edf th\u00e0nh ng\u01b0\u1eddi b\u00e1n s\u00e1ch c\u0169 h\u00e0ng \u0111\u1ea7u t\u1ea1i Ph\u00e1p v\u1edbi t\u1ef7 l\u1ec7 l\u1ea5y h\u00e0ng l\u00e0 90%. Th\u1eadt l\u00e0 kinh t\u1ebf tuy\u1ec7t v\u1eddi, kinh doanh tuy\u1ec7t v\u1eddi, t\u1eadp trung v\u00e0o s\u1ef1 ti\u1ec7n l\u1ee3i. V\u00ec v\u1eady, m\u1ed9t l\u1ea7n n\u1eefa, ch\u00fang ta \u0111ang th\u1ea5y nh\u1eefng xu h\u01b0\u1edbng ho\u1eb7c c\u00e1ch th\u1ee9c m\u1edbi \u0111\u1ec3 t\u1ea5n c\u00f4ng c\u00e1c danh m\u1ee5c hi\u1ec7n c\u00f3 b\u1eb1ng c\u00e1ch th\u00eam c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ti\u1ebfp c\u1eadn v\u00e0 s\u1ef1 ti\u1ec7n l\u1ee3i m\u1edbi. AI \u0111ang b\u1eaft \u0111\u1ea7u xu\u1ea5t hi\u1ec7n v\u00e0 t\u00f4i s\u1ebd \u0111\u01b0a ra cho b\u1ea1n hai v\u00ed d\u1ee5 v\u1ec1 AI, sau \u0111\u00f3 t\u00f4i s\u1ebd d\u1eebng l\u1ea1i \u1edf ph\u1ea7n xu h\u01b0\u1edbng.            <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[27:46]  AI, r\u00f5 r\u00e0ng l\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u s\u1eed d\u1ee5ng AI \u0111\u1ec3 ch\u0103m s\u00f3c kh\u00e1ch h\u00e0ng v\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u s\u1eed d\u1ee5ng AI \u0111\u1ec3 c\u1ea3i thi\u1ec7n n\u0103ng su\u1ea5t c\u1ee7a l\u1eadp tr\u00ecnh vi\u00ean. Trong c\u00e1c th\u1ecb tr\u01b0\u1eddng, n\u01a1i ch\u00fang ta th\u1ea5y AI \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng nhi\u1ec1u nh\u1ea5t l\u00e0 \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh l\u1ea1i quy tr\u00ecnh ni\u00eam y\u1ebft, \u0111\u00fang kh\u00f4ng? V\u00ec v\u1eady, n\u1ebfu b\u1ea1n mu\u1ed1n b\u00e1n tr\u00ean eBay, b\u1ea1n c\u1ea7n ph\u1ea3i c\u00f3 \u0111i\u1ec7n tho\u1ea1i. B\u1ea1n ch\u1ee5p m\u1ed9t lo\u1ea1t \u1ea3nh, b\u1ea1n vi\u1ebft ti\u00eau \u0111\u1ec1, b\u1ea1n vi\u1ebft m\u00f4 t\u1ea3, b\u1ea1n ch\u1ecdn danh m\u1ee5c, b\u1ea1n nh\u1eadp gi\u00e1, sau \u0111\u00f3 b\u1ea1n \u0111\u1ee3i m\u1ed9t ho\u1eb7c hai tu\u1ea7n v\u00e0 sau \u0111\u00f3 n\u00f3 s\u1ebd \u0111\u01b0\u1ee3c b\u00e1n   <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[28:13]  M\u00f4 h\u00ecnh m\u1edbi l\u00e0 c\u00f3 m\u1ed9t c\u00f4ng ty ch\u00fang t\u00f4i \u0111\u1ea7u t\u01b0 t\u1ea1i Hoa K\u1ef3 c\u00f3 t\u00ean l\u00e0 Hero Stuff. B\u1ea1n ch\u1ee5p m\u1ed9t v\u00e0i b\u1ee9c \u1ea3nh v\u00e0 t\u1ea1o m\u1ed9t video m\u00f4 t\u1ea3 s\u1ea3n ph\u1ea9m. V\u00e0 v\u1edbi AI, h\u1ecd chuy\u1ec3n \u0111\u1ed5i m\u00f4 t\u1ea3 c\u1ee7a b\u1ea1n th\u00e0nh danh s\u00e1ch \u0111\u1ea7y \u0111\u1ee7. V\u00e0 h\u1ecd th\u1ef1c s\u1ef1 ch\u1ecdn gi\u00e1, danh m\u1ee5c, ti\u00eau \u0111\u1ec1, m\u00f4 t\u1ea3. H\u1ecd t\u1ea1o m\u1ed9t video TikTok d\u00e0i 15 gi\u00e2y m\u00e0 b\u1ea1n c\u00f3 th\u1ec3 m\u1ea1o hi\u1ec3m tr\u00ean m\u1ea1ng x\u00e3 h\u1ed9i c\u1ee7a m\u00ecnh. V\u00e0 h\u1ecd ni\u00eam y\u1ebft n\u00f3 tr\u00ean eBay, Facebook Marketplace, v.v. C\u00f3 t\u00ean l\u00e0 Hero Stuff. v\u00e0 ch\u00fang t\u00f4i \u0111ang th\u1ea5y nh\u1eefng ng\u01b0\u1eddi \u0111\u01b0\u01a1ng nhi\u1ec7m hi\u1ec7n t\u1ea1i s\u1eed d\u1ee5ng d\u1eef li\u1ec7u c\u1ee7a h\u1ecd \u0111\u1ec3 t\u00e1i t\u1ea1o quy tr\u00ecnh ni\u00eam y\u1ebft. V\u00ec v\u1eady, ch\u00fang t\u00f4i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1i m\u1ed9t th\u1ecb tr\u01b0\u1eddng c\u00f3 t\u00ean l\u00e0 Rebag trong t\u00fai x\u00e1ch. V\u00e0 nh\u1eefng g\u00ec h\u1ecd \u0111\u00e3 l\u00e0m l\u00e0 h\u1ecd \u0111\u00e3 t\u1ea1o ra AI n\u00e0y c\u00f3 t\u00ean l\u00e0 Claire v\u00ec h\u1ecd c\u00f3 t\u1ea5t c\u1ea3 d\u1eef li\u1ec7u. B\u1ea1n ch\u1ee5p m\u1ed9t v\u00e0i b\u1ee9c \u1ea3nh v\u00e0 h\u1ecd n\u00f3i v\u1edbi b\u1ea1n, \u0111\u01b0\u1ee3c r\u1ed3i, chi\u1ebfc t\u00fai n\u00e0y l\u00e0 th\u1eadt. M\u1eabu t\u00fai n\u00e0y t\u1eeb n\u0103m nay trong t\u00ecnh tr\u1ea1ng n\u00e0y c\u00f3 b\u00e1n \u0111\u01b0\u1ee3c v\u1edbi gi\u00e1 n\u00e0y kh\u00f4ng? B\u00f9m, b\u1ea1n nh\u1ea5p v\u00e0 n\u00f3 \u0111\u01b0\u1ee3c b\u00e1n. Gi\u1ed1ng nh\u01b0 m\u1ed9t ph\u00fat b\u1ea1n \u0111\u00e3 b\u00e1n chi\u1ebfc t\u00fai c\u1ee7a m\u00ecnh v\u00ec h\u1ecd s\u1ebd mua cho b\u1ea1n v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng, \u0111i\u1ec1u \u0111\u00f3 th\u1eadt tuy\u1ec7t v\u1eddi. V\u00e0 v\u00ec v\u1eady, ch\u00fang ta \u0111ang th\u1ea5y nh\u1eefng xu h\u01b0\u1edbng m\u1edbi trong AI \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 c\u1ea3i thi\u1ec7n hi\u1ec7u qu\u1ea3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng. V\u00e2ng, r\u1ea5t nhi\u1ec1u xu h\u01b0\u1edbng tuy\u1ec7t v\u1eddi, th\u00fa v\u1ecb. V\u00e0 v\u00e2ng, t\u00f4i hy v\u1ecdng \u0111\u00e2y s\u1ebd l\u00e0 kh\u1edfi \u0111\u1ea7u v\u00e0 nhi\u1ec1u h\u01a1n n\u1eefa \u0111\u1ec3 m\u1edf r\u1ed9ng. V\u00ec v\u1eady, th\u01b0\u01a1ng m\u1ea1i tr\u1ef1c ti\u1ebfp s\u1ebd \u0111\u1ebfn v\u1edbi c\u00e1c danh m\u1ee5c kh\u00e1c. Xuy\u00ean bi\u00ean gi\u1edbi s\u1ebd t\u1ed3n t\u1ea1i ngo\u00e0i hai v\u00ed d\u1ee5 t\u00f4i \u0111\u00e3 \u0111\u01b0a ra. C\u00e1c m\u00f4 h\u00ecnh kinh doanh m\u1edbi, n\u01a1i b\u1ea1n c\u00f3 th\u1ec3 c\u00f3 t\u1ef7 l\u1ec7 ti\u1ebfp nh\u1eadn cao h\u01a1n b\u1eb1ng c\u00e1ch th\u00eam c\u00e1c d\u1ecbch v\u1ee5 \u1edf \u0111\u00f3 v\u00e0 t\u1eadp trung v\u00e0o s\u1ef1 ti\u1ec7n l\u1ee3i s\u1ebd n\u1ed5i l\u00ean h\u00e0ng \u0111\u1ea7u.                   <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[29:36]  V\u00e0 vi\u1ec7c th\u00eam c\u00e1c d\u1ecbch v\u1ee5 s\u1ebd m\u1edf ra c\u00e1c danh m\u1ee5c m\u1edbi m\u00e0 tr\u01b0\u1edbc \u0111\u00e2y qu\u00e1 \u0111au \u0111\u1edbn \u0111\u1ec3 giao d\u1ecbch. V\u00e0 \u0111\u00f3 l\u00e0 nh\u1eefng xu h\u01b0\u1edbng l\u1edbn b\u00ean ngo\u00e0i xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng B2B, m\u00e0 nh\u01b0 t\u00f4i \u0111\u00e3 m\u00f4 t\u1ea3 l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn. V\u00e0 ch\u00fang ta \u0111ang \u1edf ng\u00e0y \u0111\u1ea7u ti\u00ean. V\u00ec v\u1eady, s\u1ebd m\u1ea5t 10 n\u0103m \u0111\u1ec3 t\u1ea5t c\u1ea3 nh\u1eefng \u0111i\u1ec1u n\u00e0y di\u1ec5n ra.   <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[29:52]  R\u1ea5t nhi\u1ec1u th\u1ee9 x\u1ea3y ra c\u00f9ng m\u1ed9t l\u00fac. V\u00ec v\u1eady, m\u1ed9t \u0111i\u1ec1u m\u00e0 b\u1ea1n \u0111\u00e3 \u0111\u1ec1 c\u1eadp l\u00e0 m\u1ecdi ng\u01b0\u1eddi c\u0169ng s\u1eed d\u1ee5ng AI \u0111\u1ec3 n\u00e2ng cao l\u1eadp tr\u00ecnh v\u00e0 \u1edf \u0111\u00e2y v\u00e0 \u1edf \u0111\u00f3. L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 n\u0103ng su\u1ea5t t\u0103ng l\u00ean m\u00e0 AI mang l\u1ea1i cho vi\u1ec7c x\u00e2y d\u1ef1ng c\u00f4ng ty \u1edf \u0111\u00e2y v\u00e0 n\u00e2ng cao vi\u1ec7c x\u00e2y d\u1ef1ng s\u1ea3n ph\u1ea9m v\u00e0 m\u1ecdi th\u1ee9 kh\u00e1c, l\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 b\u1ea1n x\u00e2y d\u1ef1ng kh\u1ea3 n\u0103ng ph\u00f2ng th\u1ee7 nh\u01b0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng khi giao s\u1ea3n ph\u1ea9m v\u00e0 MVP \u0111\u1ea7u ti\u00ean v\u00e0 thi\u1ebft l\u1eadp m\u1ecdi th\u1ee9, \u0111\u1ed9ng l\u1ef1c c\u1ee7a vi\u1ec7c x\u00e2y d\u1ef1ng kh\u1ea3 n\u0103ng ph\u00f2ng th\u1ee7 thay \u0111\u1ed5i nh\u01b0 th\u1ebf n\u00e0o do AI?  <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[30:31]  Trong 25 n\u0103m qua, \u0111\u00e3 c\u00f3 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn v\u1ec1 chi ph\u00ed x\u00e2y d\u1ef1ng c\u00f4ng ty, r\u00e0o c\u1ea3n gia nh\u1eadp \u0111ang gi\u1ea3m d\u1ea7n. Khi t\u00f4i x\u00e2y d\u1ef1ng c\u00f4ng ty \u0111\u1ea7u ti\u00ean c\u1ee7a m\u00ecnh, t\u00f4i c\u1ea7n c\u00f3 c\u01a1 s\u1edf d\u1eef li\u1ec7u Oracle v\u00e0 m\u00e1y ch\u1ee7 web Microsoft.  T\u00f4i c\u1ea7n x\u00e2y d\u1ef1ng trung t\u00e2m d\u1eef li\u1ec7u c\u1ee7a ri\u00eang m\u00ecnh. Kh\u00f4ng c\u00f3 AWS, nh\u01b0ng c\u0169ng kh\u00f4ng c\u00f3 Rackspace. V\u00e0 sau \u0111\u00f3 ch\u00fang ta c\u00f3 m\u00e3 ngu\u1ed3n m\u1edf, MySQL&#8230; V\u00e0 php r\u1ed3i ch\u00fang ta c\u00f3 \u0111i\u1ec7n to\u00e1n \u0111\u00e1m m\u00e2y v\u00e0 b\u1ea1n c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng aws v\u00e0 v\u00e0 v\u00e0 b\u00e2y gi\u1edd v\u1edbi cu\u1ed9c c\u00e1ch m\u1ea1ng ai m\u1edbi, b\u1ea1n kh\u00f4ng c\u00f3 m\u00e3, m\u00e3 th\u1ea5p ho\u1eb7c m\u00e3 h\u1ed7 tr\u1ee3 ai, trong \u0111\u00f3 chi ph\u00ed kh\u1edfi ch\u1ea1y m\u1ed9t c\u00f4ng ty kh\u1edfi nghi\u1ec7p r\u1ebb h\u01a1n v\u00e0 th\u1ea5p h\u01a1n bao gi\u1edd h\u1ebft, \u0111i\u1ec1u \u0111\u00f3 n\u00f3i r\u1eb1ng vi\u1ec7c x\u00e2y d\u1ef1ng n\u1ec1n t\u1ea3ng c\u00f4ng ngh\u1ec7 th\u1ef1c s\u1ef1 ch\u01b0a bao gi\u1edd l\u00e0 m\u1ee5c nh\u1eadp c\u1eb1n c\u1ed7i v\u00e0o c\u00e1c th\u1ecb tr\u01b0\u1eddng, b\u1ea3n th\u00e2n s\u1ea3n ph\u1ea9m r\u1ea5t d\u1ec5 sao ch\u00e9p, b\u1ea1n c\u00f3 th\u1ec3 v\u00e0 tr\u00ean th\u1ef1c t\u1ebf, h\u1ea7u h\u1ebft c\u00e1c th\u1ecb tr\u01b0\u1eddng c\u1ee7a ch\u00fang t\u00f4i th\u01b0\u1eddng ra m\u1eaft tr\u00ean shopify, ng\u01b0\u1eddi ti\u00eau d\u00f9ng tr\u00ean ng\u01b0\u1eddi ti\u00eau d\u00f9ng, n\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng h\u01b0\u1edbng \u0111\u1ebfn ng\u01b0\u1eddi ti\u00eau d\u00f9ng, ph\u00eda mua c\u1ee7a th\u1ecb tr\u01b0\u1eddng, b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng shopify, h\u1ecd c\u00f3 t\u1ea5t c\u1ea3 c\u00e1c c\u00f4ng c\u1ee5, gi\u00e1 r\u1ebb, d\u1ec5 d\u00e0ng, h\u1ecd c\u00f3 th\u1ec3 nh\u00fang m\u1ecdi th\u1ee9 b\u1ea1n c\u1ea7n, t\u1eeb theo d\u00f5i, th\u1eed nghi\u1ec7m thu\u1ed9c t\u00ednh, m\u1ecdi th\u1ee9 \u0111\u1ec1u c\u00f3 s\u1eb5n, ph\u1ea3n h\u1ed3i, b\u1ea1n c\u00f3 th\u1ec3 d\u1ec5 d\u00e0ng c\u00f3 \u0111\u01b0\u1ee3c \u1ee9ng d\u1ee5ng di \u0111\u1ed9ng, v\u00ec v\u1eady, \u0111\u00f3 lu\u00f4n l\u00e0 m\u1ed9t lo\u1ea1i h\u00e0ng h\u00f3a,  <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[31:44]  Th\u1eadt bu\u1ed3n c\u01b0\u1eddi l\u00e0 t\u00f4i ch\u01b0a bao gi\u1edd ngh\u0129 v\u1ec1 \u0111i\u1ec1u \u0111\u00f3 nh\u01b0ng \u0111i\u1ec1u \u0111\u00f3 c\u00f3 l\u00fd.<\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[31:46]  V\u00e2ng, v\u00ec v\u1eady khi b\u1ea1n ra m\u1eaft m\u1ed9t th\u1ecb tr\u01b0\u1eddng, kh\u00f4ng c\u00f3 h\u00e0o n\u01b0\u1edbc, s\u1ea3n ph\u1ea9m l\u00e0 h\u00e0o n\u01b0\u1edbc th\u1ef1c s\u1ef1 l\u00e0 t\u00ednh thanh kho\u1ea3n, \u0111\u00f3 l\u00e0 qu\u00e1 tr\u00ecnh th\u1ef1c hi\u1ec7n c\u1ee7a b\u1ea1n, \u0111\u00f3 l\u00e0 t\u00ecm ng\u01b0\u1eddi mua v\u00e0 ng\u01b0\u1eddi b\u00e1n, \u0111\u00f3 l\u00e0 c\u00f3 nps cao, \u0111\u00f3 l\u00e0 s\u1ef1 k\u1ebft h\u1ee3p hi\u1ec7u qu\u1ea3 gi\u1eefa h\u1ecd, \u0111\u00f3 l\u00e0 t\u1ea1o ra b\u00e1nh \u0111\u00e0 \u1edf b\u1ea5t c\u1ee9 n\u01a1i n\u00e0o c\u00f3 nhi\u1ec1u ng\u01b0\u1eddi mua h\u01a1n mang \u0111\u1ebfn nhi\u1ec1u ng\u01b0\u1eddi b\u00e1n h\u01a1n v\u00e0 nhi\u1ec1u ng\u01b0\u1eddi b\u00e1n h\u01a1n mang \u0111\u1ebfn nhi\u1ec1u ng\u01b0\u1eddi mua h\u01a1n, \u0111\u00f3 l\u00e0 th\u01b0\u01a1ng hi\u1ec7u m\u00e0 b\u1ea1n x\u00e2y d\u1ef1ng, \u0111\u00f3 l\u00e0 h\u00e0o n\u01b0\u1edbc, \u0111\u00f3 l\u00e0 qu\u00e1 tr\u00ecnh th\u1ef1c hi\u1ec7n th\u1ef1c t\u1ebf, b\u1ea3n th\u00e2n s\u1ea3n ph\u1ea9m kh\u00f4ng ph\u1ea3i l\u00e0 h\u00e0o n\u01b0\u1edbc theo b\u1ea5t k\u1ef3 c\u00e1ch n\u00e0o, h\u00ecnh d\u1ea1ng n\u00e0o, v\u00ec n\u00f3 c\u00f3 th\u1ec3 sao ch\u00e9p \u0111\u01b0\u1ee3c. V\u00e0 \u0111i\u1ec1u n\u00e0y \u0111ang tr\u1edf th\u00e0nh s\u1ef1 th\u1eadt trong m\u1ecdi chi\u1ec1u d\u1ecdc, v\u1ec1 c\u01a1 b\u1ea3n, n\u01a1i b\u1ea5t k\u1ef3 s\u1ea3n ph\u1ea9m n\u00e0o c\u0169ng c\u00f3 th\u1ec3 sao ch\u00e9p \u0111\u01b0\u1ee3c. Ch\u00ednh qu\u00e1 tr\u00ecnh th\u1ef1c hi\u1ec7n c\u1ee7a b\u1ea1n l\u00e0 quan tr\u1ecdng nh\u1ea5t. \u0110\u00f3 l\u00e0 l\u00fd do t\u1ea1i sao c\u00e1c \u00fd t\u01b0\u1edfng c\u00f3 m\u1ed9t s\u1ed1 gi\u00e1 tr\u1ecb, nh\u01b0ng kh\u00f4ng c\u00f3 nhi\u1ec1u gi\u00e1 tr\u1ecb nh\u01b0 v\u1eady. Th\u1ef1c s\u1ef1 th\u00ec qu\u00e1 tr\u00ecnh th\u1ef1c hi\u1ec7n c\u00f3 t\u1ea5t c\u1ea3 gi\u00e1 tr\u1ecb.    <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[32:25]  V\u1eady b\u1ea1n s\u1ebd n\u00f3i g\u00ec v\u1ec1 nh\u1eefng \u0111i\u1ec1u c\u1ea7n thi\u1ebft \u0111\u1ec3, v\u00e0 t\u00f4i ngh\u0129 b\u1ea1n \u0111\u00e3 \u0111\u1ec1 c\u1eadp \u0111\u1ebfn nhi\u1ec1u ch\u1ee7 \u0111\u1ec1 r\u1ed3i, nh\u01b0ng t\u00f4i r\u1ea5t mu\u1ed1n \u0111\u01b0a ch\u00fang l\u1ea1i v\u1edbi nhau m\u1ed9t l\u1ea7n n\u1eefa, \u0111\u1ec3 x\u00e2y d\u1ef1ng th\u01b0\u01a1ng hi\u1ec7u tr\u1edf th\u00e0nh s\u1ed1 m\u1ed9t, \u0111\u1ec3 x\u00e2y d\u1ef1ng ph\u01b0\u01a1ng th\u1ee9c cung v\u00e0 c\u1ea7u v\u00e0 th\u1ef1c s\u1ef1 tr\u1edf th\u00e0nh th\u1ecb tr\u01b0\u1eddng s\u1ed1 m\u1ed9t trong ng\u00e0nh m\u00e0 t\u00f4i \u0111ang ho\u1ea1t \u0111\u1ed9ng?<\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[32:45]  B\u1ea1n c\u1ea7n l\u00e0m h\u00e0i l\u00f2ng kh\u00e1ch h\u00e0ng c\u1ee7a m\u00ecnh. V\u00e0 v\u00ec v\u1eady, t\u00f4i s\u1ebd b\u1eaft \u0111\u1ea7u ngay t\u1eeb \u0111\u1ea7u b\u1eb1ng c\u00e1ch th\u01b0\u1eddng xuy\u00ean \u0111\u1ebfn ngu\u1ed3n cung. V\u00e0 t\u00f4i s\u1ebd l\u1ea5y r\u1ea5t nhi\u1ec1u, v\u00e0 l\u00fd do b\u1ea1n \u0111\u1ebfn ngu\u1ed3n cung l\u00e0 h\u1ecd c\u00f3 \u0111\u1ed9ng l\u1ef1c t\u00e0i ch\u00ednh \u0111\u1ec3 tham gia n\u1ec1n t\u1ea3ng. V\u00ec v\u1eady, b\u1ea1n \u0111\u1ebfn ngu\u1ed3n cung t\u1ed1t nh\u1ea5t v\u00e0 b\u1ea1n n\u00f3i v\u1edbi h\u1ecd, h\u00e3y xem, ch\u00fang t\u00f4i \u0111ang ra m\u1eaft m\u1ed9t th\u1ecb tr\u01b0\u1eddng m\u1edbi. Ch\u00fang t\u00f4i ch\u01b0a c\u00f3 nhi\u1ec1u kh\u00e1ch h\u00e0ng, nh\u01b0ng ch\u00fang t\u00f4i \u0111\u01b0\u1ee3c t\u1ef1 do tham gia. B\u1ea1n c\u00f3 mu\u1ed1n ni\u00eam y\u1ebft kh\u00f4ng? M\u1ecdi ng\u01b0\u1eddi s\u1ebd n\u00f3i c\u00f3. V\u00ec v\u1eady, tr\u00ean th\u1ef1c t\u1ebf, sai l\u1ea7m l\u1edbn nh\u1ea5t m\u00e0 b\u1ea1n c\u00f3 th\u1ec3 m\u1eafc ph\u1ea3i l\u00e0 tham gia qu\u00e1 nhi\u1ec1u ngu\u1ed3n cung. Tr\u00ean th\u1ef1c t\u1ebf, b\u1ea1n ch\u1ec9 l\u1ea5y ngu\u1ed3n cung r\u1ea5t h\u1ea1n ch\u1ebf. Sau \u0111\u00f3, b\u1ea1n th\u1eed nghi\u1ec7m m\u1ed9t lo\u1ea1t c\u00e1c k\u00eanh ti\u1ebfp th\u1ecb. C\u00f3 th\u1ec3 l\u00e0 m\u1ed9t nh\u00f3m b\u00e1n h\u00e0ng, c\u00f3 th\u1ec3 l\u00e0 Google, c\u00f3 th\u1ec3 l\u00e0 Tech Talk, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng quan tr\u1ecdng. V\u00e0 b\u1ea1n mang \u0111\u1ebfn cho h\u1ecd nhu c\u1ea7u v\u00e0 b\u1ea1n ph\u00f9 h\u1ee3p v\u1edbi h\u1ecd.           <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[33:21]  V\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, t\u00f9y thu\u1ed9c v\u00e0o danh m\u1ee5c, n\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng h\u00e0ng \u0111\u00e3 qua s\u1eed d\u1ee5ng, b\u1ea1n mu\u1ed1n x\u00e1c su\u1ea5t b\u00e1n \u0111\u01b0\u1ee3c m\u1eb7t h\u00e0ng \u0111\u00f3 \u00edt nh\u1ea5t l\u00e0 25%. N\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng d\u1ecbch v\u1ee5, b\u1ea1n mu\u1ed1n \u0111\u1ea1i di\u1ec7n cho \u00edt nh\u1ea5t 25% doanh thu c\u1ee7a ngu\u1ed3n cung. Nh\u01b0ng b\u1ea1n mu\u1ed1n l\u00e0m h\u1ecd h\u00e0i l\u00f2ng. V\u00e0 b\u1ea1n mu\u1ed1n NPS r\u1ea5t cao \u1edf c\u1ea3 ph\u00eda cung v\u00e0 ph\u00eda c\u1ea7u, th\u01b0\u1eddng l\u00e0 b\u1eb1ng c\u00e1ch c\u00f3 m\u1ed9t s\u1ed1 c\u1ea5p \u0111\u1ed9 qu\u1ea3n l\u00fd v\u00e0 l\u1edbp d\u1ecbch v\u1ee5 \u0111\u1ea3m b\u1ea3o r\u1eb1ng c\u1ea3 hai \u0111\u1ec1u r\u1ea5t h\u00e0i l\u00f2ng. Khi b\u1ea1n \u0111\u00e3 l\u00e0m \u0111\u01b0\u1ee3c \u0111i\u1ec1u \u0111\u00f3 v\u00e0 h\u1ecd h\u00e0i l\u00f2ng, v\u00e0 NPS c\u1ee7a b\u1ea1n cao, v\u00e0 ng\u01b0\u1eddi b\u00e1n v\u00e0 ng\u01b0\u1eddi mua \u0111\u1ec1u h\u00e0i l\u00f2ng, b\u1ea1n th\u00eam m\u1ed9t v\u00e0i ng\u01b0\u1eddi b\u00e1n n\u1eefa, r\u1ed3i b\u1ea1n th\u00eam m\u1ed9t v\u00e0i ng\u01b0\u1eddi mua n\u1eefa, v\u00e0 b\u1ea1n ti\u1ebfp t\u1ee5c m\u1edf r\u1ed9ng quy m\u00f4 song song. V\u00e0 th\u00f4ng th\u01b0\u1eddng, \u0111i\u1ec1u \u0111\u00f3 s\u1ebd kh\u1edfi \u0111\u1ed9ng b\u00e1nh \u0111\u00e0, n\u01a1i \u0111\u1ed9t nhi\u00ean, b\u1ea1n c\u00f3 \u0111\u01b0\u1ee3c hi\u1ec7u \u1ee9ng m\u1ea1ng l\u01b0\u1edbi, n\u01a1i m\u00e0 ng\u00e0y c\u00e0ng c\u00f3 nhi\u1ec1u ng\u01b0\u1eddi mua h\u01a1n, n\u01a1i ng\u01b0\u1eddi b\u00e1n mang l\u1ea1i, n\u01a1i ng\u01b0\u1eddi b\u00e1n mang l\u1ea1i, n\u01a1i ng\u01b0\u1eddi mua nhi\u1ec1u h\u01a1n. V\u00e0 b\u1ea1n bi\u1ebft m\u00ecnh c\u00f3 b\u00e1nh \u0111\u00e0 khi CAC c\u1ee7a b\u1ea1n b\u1eaft \u0111\u1ea7u gi\u1ea3m. Nhi\u1ec1u trong s\u1ed1 nh\u1eefng c\u00e1i g\u1ecdi l\u00e0 th\u1ecb tr\u01b0\u1eddng n\u00e0y kh\u00f4ng ph\u1ea3i l\u00e0 th\u1ecb tr\u01b0\u1eddng v\u00ec nh\u1eefng g\u00ec x\u1ea3y ra l\u00e0 h\u1ecd chi r\u1ea5t nhi\u1ec1u ti\u1ec1n \u0111\u1ec3 mua ng\u01b0\u1eddi b\u00e1n v\u00e0 ng\u01b0\u1eddi mua. H\u1ecd m\u1edf r\u1ed9ng quy m\u00f4 c\u00e0ng nhi\u1ec1u th\u00ec CAC c\u1ee7a h\u1ecd c\u00e0ng t\u0103ng. \u0110i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 h\u1ecd kh\u00f4ng c\u00f3 hi\u1ec7u \u1ee9ng m\u1ea1ng l\u01b0\u1edbi. \u0110i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 v\u1ec1 c\u01a1 b\u1ea3n c\u00f3 \u0111i\u1ec1u g\u00ec \u0111\u00f3 kh\u00f4ng ho\u1ea1t \u0111\u1ed9ng. V\u00e0 t\u00f4i mu\u1ed1n n\u1ec1n kinh t\u1ebf c\u00f4ng \u0111o\u00e0n ph\u1ea3i th\u1ef1c s\u1ef1 t\u1ed1t. Nh\u01b0ng \u00fd t\u01b0\u1edfng chung l\u00e0 b\u1ea1n l\u00e0m h\u00e0i l\u00f2ng nh\u1eefng kh\u00e1ch h\u00e0ng \u0111\u1ea7u ti\u00ean c\u1ee7a m\u00ecnh v\u00e0 b\u1ea1n ti\u1ebfp t\u1ee5c x\u00e2y d\u1ef1ng cho h\u1ecd, \u0111\u1ea3m b\u1ea3o r\u1eb1ng h\u1ecd h\u00e0i l\u00f2ng, kh\u00f4ng ch\u1ec9 \u00e1p d\u1ee5ng cho c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u00e0 th\u1eb3ng th\u1eafn m\u00e0 n\u00f3i, cho m\u1ecdi c\u00f4ng ty kh\u1edfi nghi\u1ec7p. B\u00e2y gi\u1edd, c\u00e1ch b\u1ea1n b\u1eaft \u0111\u1ea7u trong c\u00e1c th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 kh\u00e1c nhau t\u00f9y thu\u1ed9c v\u00e0o th\u1ecb tr\u01b0\u1eddng b\u1ea1n \u0111ang tham gia. C\u00f3 th\u1ec3 b\u1ea1n c\u1ea7n ph\u1ea3i \u1edf m\u1ed9t m\u00e3 b\u01b0u ch\u00ednh, nh\u01b0ng c\u00f3 th\u1ec3 b\u1ea1n l\u00e0 m\u1ed9t s\u1ea3n ph\u1ea9m qu\u1ed1c gia, ph\u1ea3i kh\u00f4ng? V\u1eady b\u1ea1n s\u1ebd th\u1ef1c hi\u1ec7n nh\u01b0 th\u1ebf n\u00e0o               <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[34:45]  \u0110\u1ea7u ti\u00ean, r\u00f5 r\u00e0ng l\u00e0 n\u1ebfu b\u1ea1n \u0111ang \u1edf trong m\u1ed9t danh m\u1ee5c d\u1ecbch v\u1ee5, b\u1ea1n c\u00f3 th\u1ec3 c\u1ea7n ph\u1ea3i si\u00eau \u0111\u1ecba ph\u01b0\u01a1ng. N\u1ebfu b\u1ea1n \u0111ang b\u00e1n h\u00e0ng \u0111\u00e3 qua s\u1eed d\u1ee5ng, c\u00f3 th\u1ec3 kh\u00f4ng, \u0111\u1eb7c bi\u1ec7t l\u00e0 n\u1ebfu ch\u00fang c\u00f3 th\u1ec3 v\u1eadn chuy\u1ec3n \u0111\u01b0\u1ee3c. V\u00ec v\u1eady, \u0111i\u1ec1u \u0111\u00f3 th\u1ef1c s\u1ef1 ph\u1ee5 thu\u1ed9c. Nh\u01b0ng tr\u1ecdng t\u00e2m v\u00e0 l\u00e0m h\u00e0i l\u00f2ng kh\u00e1ch h\u00e0ng c\u1ee7a b\u1ea1n v\u00e0 \u0111\u1ea3m b\u1ea3o r\u1eb1ng h\u1ecd \u0111ang nh\u00ecn th\u1ea5y ng\u01b0\u1eddi b\u00e1n c\u1ee7a h\u1ecd, h\u1ecd \u0111ang nh\u00ecn th\u1ea5y nhu c\u1ea7u. V\u00e0 n\u1ebfu h\u1ecd l\u00e0 ng\u01b0\u1eddi mua, h\u1ecd th\u1ea5y \u0111\u1ee7 nh\u1eefng g\u00ec h\u1ecd mu\u1ed1n \u0111\u1ec3 h\u1ecd c\u00f3 th\u1ec3 giao d\u1ecbch \u1edf \u0111\u00e2y.    <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[35:06]  Ng\u00e0y nay, khi t\u00f4i b\u1eaft \u0111\u1ea7u m\u1ed9t th\u1ecb tr\u01b0\u1eddng, r\u00e0o c\u1ea3n \u0111\u1ea7u ti\u00ean m\u00e0 t\u00f4i c\u00f3 th\u1ec3 g\u1eb7p ph\u1ea3i l\u00e0 g\u00ec?<\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[35:14]  Cho d\u00f9 l\u00e0 ng\u00e0y nay hay 20 n\u0103m tr\u01b0\u1edbc, r\u00e0o c\u1ea3n \u0111\u1ea7u ti\u00ean m\u00e0 b\u1ea1n g\u1eb7p ph\u1ea3i l\u00e0 v\u1ea5n \u0111\u1ec1 con g\u00e0 v\u00e0 qu\u1ea3 tr\u1ee9ng, \u0111\u00f3 l\u00e0 t\u00f4i c\u00f3 trang web tuy\u1ec7t v\u1eddi n\u00e0y, tr\u1ea3i nghi\u1ec7m ng\u01b0\u1eddi d\u00f9ng tuy\u1ec7t v\u1eddi, nh\u01b0ng t\u00f4i kh\u00f4ng c\u00f3 g\u00ec c\u1ea3. T\u00f4i kh\u00f4ng c\u00f3 ng\u01b0\u1eddi mua v\u00e0 t\u00f4i kh\u00f4ng c\u00f3 ng\u01b0\u1eddi b\u00e1n. T\u00f4i n\u00ean b\u1eaft \u0111\u1ea7u v\u1edbi ai? V\u00e0 khuy\u1ebfn ngh\u1ecb c\u1ee7a t\u00f4i trong 99% tr\u01b0\u1eddng h\u1ee3p l\u00e0 b\u1eaft \u0111\u1ea7u v\u1edbi ng\u01b0\u1eddi b\u00e1n v\u00ec h\u1ecd c\u00f3 \u0111\u1ed9ng l\u1ef1c t\u00e0i ch\u00ednh \u0111\u1ec3 tham gia n\u1ec1n t\u1ea3ng. N\u1ebfu h\u1ecd \u1edf \u0111\u00f3, h\u1ecd s\u1ebd ki\u1ebfm \u0111\u01b0\u1ee3c ti\u1ec1n. Nh\u01b0ng t\u00f4i s\u1ebd, nh\u01b0 t\u00f4i \u0111\u00e3 n\u00f3i, \u0111\u01b0\u1ee3c tuy\u1ec3n ch\u1ecdn k\u1ef9 l\u01b0\u1ee1ng, \u0111\u1ebfn v\u1edbi nh\u1eefng ng\u01b0\u1eddi gi\u1ecfi nh\u1ea5t s\u1ebd tham gia, nh\u1eefng ng\u01b0\u1eddi vui v\u1ebb th\u1eed nghi\u1ec7m, nh\u1eefng ng\u01b0\u1eddi s\u1ebd tr\u1ea3 l\u1eddi y\u00eau c\u1ea7u t\u1eeb ng\u01b0\u1eddi mua v\u00e0 l\u00e0m h\u1ecd h\u00e0i l\u00f2ng. C\u00f4ng b\u1eb1ng.      <\/p>\n\n<p>Fabian Tausch:<\/p>\n\n<p>[35:48]  V\u1ec1 th\u1eddi gian, t\u00f4i ngh\u0129 \u0111\u00f3 l\u00e0 m\u1ed9t t\u1eadp phim quan s\u00e1t r\u1ea5t s\u1eafc n\u00e9t, r\u1ea5t d\u00e0y \u0111\u1eb7c v\u1edbi r\u1ea5t nhi\u1ec1u xu h\u01b0\u1edbng m\u00e0 b\u1ea1n c\u00f3 th\u1ec3 \u0111\u00e0o s\u00e2u h\u01a1n khi b\u1ea1n ngh\u0129 v\u1ec1 ch\u00fang gi\u1ed1ng nh\u01b0, \u0111i\u1ec1u \u0111\u00f3 c\u00f3 \u00fd ngh\u0129a. T\u00f4i c\u00f3 th\u1ec3 ch\u1ecdn m\u1ed9t s\u1ed1 \u00fd t\u01b0\u1edfng t\u1eeb \u0111\u00e2y v\u00e0 s\u1eed d\u1ee5ng n\u00f3 cho doanh nghi\u1ec7p th\u1ecb tr\u01b0\u1eddng c\u1ee7a ri\u00eang m\u00ecnh v\u00e0 x\u00e2y d\u1ef1ng tr\u00ean \u0111\u00f3 v\u00ec t\u00f4i c\u00f3 th\u1ec3 xem x\u00e9t c\u00e1c ng\u00e0nh kh\u00e1c nhau. V\u00ec v\u1eady, v\u00e0 t\u00f4i bi\u1ebft b\u1ea1n c\u0169ng \u0111\u00e3 th\u1ef1c hi\u1ec7n m\u1ed9t t\u1eadp phim v\u1ec1 xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng tr\u00ean podcast c\u1ee7a ri\u00eang b\u1ea1n, t\u00f4i s\u1ebd li\u00ean k\u1ebft n\u00f3 b\u00ean d\u01b0\u1edbi, do \u0111\u00f3, n\u1ebfu b\u1ea5t k\u1ef3 ai kh\u00f4ng th\u1ec3 c\u00f3 \u0111\u1ee7 t\u1eeb b\u1ea1n, v\u00ec v\u1eady t\u00f4i li\u00ean k\u1ebft linkedin c\u1ee7a b\u1ea1n v\u00e0 t\u1ea5t nhi\u00ean l\u00e0 fj labs v\u00e0 podcast c\u1ee7a b\u1ea1n, c\u00f3 nhi\u1ec1u t\u1eadp kh\u00e1c m\u00e0 b\u1ea1n n\u00ean nghe t\u1ea5t c\u1ea3, v\u00ed d\u1ee5 nh\u01b0 t\u1eadp phim v\u1ec1 gia c\u00f4ng ngo\u00e0i m\u00e0 t\u00f4i th\u1ef1c s\u1ef1 th\u00edch, v\u00ec v\u1eady fabrice, th\u1eadt l\u00e0 m\u1ed9t ni\u1ec1m vui, c\u1ea3m \u01a1n b\u1ea1n \u0111\u00e3 chia s\u1ebb t\u1ea5t c\u1ea3 nh\u1eefng hi\u1ec3u bi\u1ebft v\u00e0 suy ngh\u0129 c\u1ee7a b\u1ea1n v\u1ec1 th\u1ecb tr\u01b0\u1eddng v\u00e0o n\u0103m 2025 v\u00e0 mong s\u1edbm \u0111\u01b0\u1ee3c g\u1eb7p l\u1ea1i b\u1ea1n.  <\/p>\n\n<p>Fabrice Grinda:<\/p>\n\n<p>[36:37]  C\u1ea3m \u01a1n b\u1ea1n \u0111\u00e3 m\u1eddi t\u00f4i.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>T\u00f4i \u0111\u00e3 c\u00f3 vinh d\u1ef1 \u0111\u01b0\u1ee3c tr\u00f2 chuy\u1ec7n v\u1edbi Fabian Tausch c\u1ee7a Unicorn Bakery. Ch\u00fang t\u00f4i \u0111\u00e3 th\u1ea3o lu\u1eadn v\u1ec1 t\u00ecnh h\u00ecnh th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m, s\u1ef1 tr\u1ed7i &hellip; <a href=\"https:\/\/grinda.org\/vi\/cuoc-tro-chuyen-cua-unicorn-bakery-xu-huong-nam-2025-cho-thi-truong-b2b-va-b2c\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cu\u1ed9c tr\u00f2 chuy\u1ec7n c\u1ee7a Unicorn Bakery: Xu h\u01b0\u1edbng n\u0103m 2025 cho th\u1ecb tr\u01b0\u1eddng B2B v\u00e0 B2C&#8221;<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":51467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[257,253],"tags":[],"class_list":["post-51484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cho-vi","category-phong-van-tro-chuyen-ben-lo-suoi"],"acf":[],"contentUpdated":"Cu\u1ed9c tr\u00f2 chuy\u1ec7n c\u1ee7a Unicorn Bakery: Xu h\u01b0\u1edbng n\u0103m 2025 cho th\u1ecb tr\u01b0\u1eddng B2B v\u00e0 B2C. Categories - Ch\u1ee3, Ph\u1ecfng v\u1ea5n &amp; Tr\u00f2 chuy\u1ec7n b\u00ean l\u00f2 s\u01b0\u1edfi. Date-Posted - 2025-02-04T15:17:02 . \n T\u00f4i \u0111\u00e3 c\u00f3 vinh d\u1ef1 \u0111\u01b0\u1ee3c tr\u00f2 chuy\u1ec7n v\u1edbi Fabian Tausch c\u1ee7a Unicorn Bakery. Ch\u00fang t\u00f4i \u0111\u00e3 th\u1ea3o lu\u1eadn v\u1ec1 t\u00ecnh h\u00ecnh th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m, s\u1ef1 tr\u1ed7i d\u1eady c\u1ee7a th\u1ecb tr\u01b0\u1eddng B2B, t\u00e1c \u0111\u1ed9ng c\u1ee7a AI \u0111\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p v\u00e0 l\u00fd do t\u1ea1i sao IPO v\u1eabn c\u00f2n l\u00e0 \u0111i\u1ec1u kh\u00f3 n\u1eafm b\u1eaft \u0111\u1ed1i v\u1edbi nhi\u1ec1u c\u00f4ng ty. \n Ch\u00fang t\u00f4i \u0111\u00e3 th\u1ea3o lu\u1eadn:\n T\u1ea1i sao th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m b\u1eaft \u0111\u1ea7u ph\u1ee5c h\u1ed3i v\u00e0o n\u0103m 2025 sau nhi\u1ec1u n\u0103m tr\u00ec tr\u1ec7.\n Th\u1ecb tr\u01b0\u1eddng B2B chuy\u1ec3n \u0111\u1ed5i c\u00e1c ng\u00e0nh c\u00f4ng nghi\u1ec7p nh\u01b0 th\u1ebf n\u00e0o v\u00e0 t\u1ea1i sao ch\u00fang v\u1eabn \u0111ang trong giai \u0111o\u1ea1n \u0111\u1ea7u.\n Vai tr\u00f2 c\u1ee7a AI trong vi\u1ec7c c\u1ea3i thi\u1ec7n hi\u1ec7u qu\u1ea3 th\u1ecb tr\u01b0\u1eddng v\u00e0 x\u00e1c \u0111\u1ecbnh l\u1ea1i m\u00f4 h\u00ecnh kinh doanh.\n T\u1ea1i sao IPO v\u1eabn c\u00f2n nhi\u1ec1u th\u00e1ch th\u1ee9c v\u00e0 c\u1ea7n ph\u1ea3i thay \u0111\u1ed5i nh\u1eefng g\u00ec \u0111\u1ec3 c\u00e1c c\u00f4ng ty c\u00f3 th\u1ec3 ni\u00eam y\u1ebft.\n C\u00e1ch nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp c\u00f3 th\u1ec3 x\u00e2y d\u1ef1ng kh\u1ea3 n\u0103ng ph\u00f2ng th\u1ee7 v\u00e0 t\u1ea1o ra hi\u1ec7u \u1ee9ng m\u1ea1ng l\u01b0\u1edbi tr\u00ean th\u1ecb tr\u01b0\u1eddng c\u1ee7a h\u1ecd.\n C\u00e1c xu h\u01b0\u1edbng ch\u00ednh n\u0103m 2025 bao g\u1ed3m th\u01b0\u01a1ng m\u1ea1i tr\u1ef1c ti\u1ebfp, th\u1ecb tr\u01b0\u1eddng xuy\u00ean bi\u00ean gi\u1edbi v\u00e0 s\u1ed1 h\u00f3a doanh nghi\u1ec7p v\u1eeba v\u00e0 nh\u1ecf.\n C\u00e1c ch\u01b0\u01a1ng:\n (00:00:00) Fabrice xem x\u00e9t khung th\u1eddi gian n\u00e0o khi x\u00e2y d\u1ef1ng lu\u1eadn \u00e1n? \n (00:02:20) &#8220;C\u1ea3m x\u00fac nh\u00ecn l\u1ea1i&#8221; n\u0103m 2024 &amp; &#8220;D\u1ef1 \u0111o\u00e1n&#8221; n\u0103m 2025\n (00:07:11) C\u1ea7n ph\u1ea3i thay \u0111\u1ed5i \u0111i\u1ec1u g\u00ec \u0111\u1ec3 th\u1ecb tr\u01b0\u1eddng IPO tr\u1edf n\u00ean h\u1ea5p d\u1eabn tr\u1edf l\u1ea1i? \n (00:10:38) \u0110\u1ed9ng l\u1ef1c th\u1ecb tr\u01b0\u1eddng thay \u0111\u1ed5i ng\u00e0nh c\u00f4ng nghi\u1ec7p \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m nh\u01b0 th\u1ebf n\u00e0o? \n (00:16:23) Xu h\u01b0\u1edbng hi\u1ec7n t\u1ea1i trong c\u00e1c doanh nghi\u1ec7p m\u1edbi\n (00:29:52) T\u00e1c \u0111\u1ed9ng c\u1ee7a AI \u0111\u1ebfn kh\u1ea3 n\u0103ng ph\u00f2ng th\u1ee7\n (00:35:06) Nh\u1eefng r\u00e0o c\u1ea3n g\u1eb7p ph\u1ea3i khi b\u1eaft \u0111\u1ea7u m\u1ed9t th\u1ecb tr\u01b0\u1eddng ng\u00e0y nay\n N\u1ebfu mu\u1ed1n, b\u1ea1n c\u00f3 th\u1ec3 nghe t\u1eadp \u0111\u00f3 trong tr\u00ecnh ph\u00e1t podcast \u0111\u01b0\u1ee3c nh\u00fang.\n Ngo\u00e0i video YouTube v\u00e0 tr\u00ecnh ph\u00e1t podcast nh\u00fang \u1edf tr\u00ean, b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 nghe podcast tr\u00ean iTunes v\u00e0 Spotify .\n B\u1ea3n ghi ch\u00e9p\n Fabian Tausch:\n [0:00]  Ch\u00e0o m\u1eebng \u0111\u1ebfn v\u1edbi t\u1eadp m\u1edbi c\u1ee7a Unicorn Bakery. H\u00f4m nay ch\u00fang ta s\u1ebd xem x\u00e9t c\u00e1c th\u1ecb tr\u01b0\u1eddng v\u00e0 h\u01b0\u1edbng \u0111\u1ebfn n\u0103m 2025 v\u00ec n\u0103m nay \u0111ang di\u1ec5n ra nhanh h\u01a1n v\u00e0 m\u1ecdi th\u1ee9 \u0111ang tr\u1edf l\u1ea1i \u0111\u00fang h\u01b0\u1edbng v\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111ang l\u00e0m vi\u1ec7c tr\u1edf l\u1ea1i. V\u00e0 do \u0111\u00f3, t\u00f4i quy\u1ebft \u0111\u1ecbnh \u0111\u01b0a Fabrice Grindag l\u00ean. V\u00e0 Fabrice c\u00f3 l\u1ebd l\u00e0 ng\u01b0\u1eddi gi\u1ecfi nh\u1ea5t \u0111\u1ec3 n\u00f3i v\u1ec1 c\u00e1c th\u1ecb tr\u01b0\u1eddng sau khi th\u1ef1c hi\u1ec7n 1.192 kho\u1ea3n \u0111\u1ea7u t\u01b0 \u0111\u1ed9c \u0111\u00e1o v\u1edbi FJ Labs cho \u0111\u1ebfn nay. V\u00e0 FJ Labs 3 l\u00e0 m\u1ed9t qu\u1ef9 s\u1eafp k\u1ebft th\u00fac, chu\u1ea9n b\u1ecb cho fj4 ii g\u1ecdi l\u00e0 fj4 ngay b\u00e2y gi\u1edd v\u00ec n\u00f3 nhanh h\u01a1n nh\u01b0ng k\u1ebft th\u00fac gi\u1ed1ng nh\u01b0 nhi\u1ec1u h\u01a1n ho\u1eb7c gi\u1ed1ng nh\u01b0 355 l\u1ea7n tho\u00e1t v\u1ed1n ch\u00ednh x\u00e1c bao g\u1ed3m c\u1ea3 c\u00e1c l\u1ea7n tho\u00e1t v\u1ed1n m\u1ed9t ph\u1ea7n c\u00f3 l\u1ebd l\u00e0 m\u1ed9t trong nh\u1eefng c\u00e2u chuy\u1ec7n m\u00e0 t\u00f4i g\u1ecdi l\u00e0 n\u1ef1c c\u01b0\u1eddi nh\u1ea5t v\u00e0 c\u00f3 l\u1ebd kh\u00f4ng ph\u1ea3i l\u00e0 t\u1eeb \u0111\u00fang nh\u01b0ng l\u00e0 nh\u1eefng c\u00e2u chuy\u1ec7n n\u1ef1c c\u01b0\u1eddi m\u00e0 t\u00f4i \u0111\u00e3 nghe trong nh\u1eefng n\u0103m qua v\u00e0 m\u1ed9t trong nh\u1eefng nh\u00e2n v\u1eadt \u0111\u1ed9c \u0111\u00e1o nh\u1ea5t ngay c\u1ea3 khi c\u00f3 m\u1ed9t nh\u00f3m l\u1edbn \u0111\u1ee9ng sau n\u00f3 m\u00e0 t\u00f4i c\u0169ng \u0111\u00e3 bi\u1ebft \u0111\u1ebfn v\u00ec v\u1eady t\u00f4i ngh\u0129 fabrice ch\u00fang ta s\u1ebd ph\u1ea3i n\u00f3i v\u1ec1 c\u00e1c th\u1ecb tr\u01b0\u1eddng ng\u00e0y h\u00f4m nay v\u00e0 t\u00f4i r\u1ea5t vui khi \u0111\u01b0\u1ee3c m\u1eddi b\u1ea1n tham gia ch\u01b0\u01a1ng tr\u00ecnh m\u1ed9t l\u1ea7n n\u1eefa c\u1ea3m \u01a1n.    \n Fabrice Grinda:\n [0:57]  B\u1ea1n \u0111\u00e3 c\u00f3 t\u00f4i\n Fabian Tausch:\n [0:58]  V\u1eady th\u00ec b\u1ea1n \u0111\u00e3 l\u00e0 ng\u01b0\u1eddi s\u00e1ng l\u1eadp r\u1ed3i, gi\u1edd b\u1ea1n \u0111ang \u0111\u1ea7u t\u01b0, b\u1ea1n \u0111\u00e1nh gi\u00e1 nh\u01b0 th\u1ebf n\u00e0o v\u1ec1 c\u1ea3 hai g\u00f3c nh\u00ecn, b\u1ea1n \u0111\u00e1nh gi\u00e1 m\u1ed9t n\u0103m nh\u01b0 th\u1ebf n\u00e0o, b\u1ea1n \u0111ang xem x\u00e9t khung th\u1eddi gian n\u00e0o khi b\u1ea1n \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh v\u00e0 x\u00e2y d\u1ef1ng nh\u1eefng lu\u1eadn \u0111i\u1ec3m n\u00e0y, v\u1eady ch\u00fang ta l\u00e0 i.\n Fabrice Grinda:\n [1:14]  S\u1ebd n\u00f3i l\u00e0 m\u1ed9t qu\u1ef9 ki\u1ec3u bottom-up c\u00f3 ngh\u0129a l\u00e0 ch\u00fang t\u00f4i kh\u00f4ng c\u00f3 danh m\u1ee5c \u0111\u1ea7u t\u01b0 x\u00e2y d\u1ef1ng tr\u01b0\u1edbc \u0111\u00f3, n\u01a1i ch\u00fang t\u00f4i ki\u1ec3u nh\u01b0 \u1ed3 ch\u00fang t\u00f4i mu\u1ed1n \u0111\u1ea7u t\u01b0 v\u00e0o \u0111\u00f3 \u1edf nhi\u1ec1u c\u00f4ng ty v\u00e0 \u0111\u00e2y ph\u1ea3i l\u00e0 lu\u1eadn \u0111i\u1ec3m. T\u00f4i ngh\u0129 r\u1eb1ng n\u00f3 quan tr\u1ecdng h\u01a1n, n\u1ebfu ch\u00fang t\u00f4i g\u1eb7p nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp m\u00e0 ch\u00fang t\u00f4i th\u00edch, ch\u00fang t\u00f4i s\u1ebd \u0111\u1ea7u t\u01b0. N\u1ebfu kh\u00f4ng, ch\u00fang t\u00f4i s\u1ebd kh\u00f4ng \u0111\u1ea7u t\u01b0. V\u00e0 trong nh\u1eefng n\u0103m nh\u01b0 21, khi ch\u00fang t\u00f4i c\u1ea3m th\u1ea5y m\u1ecdi th\u1ee9 \u0111\u1ec1u \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 qu\u00e1 cao, ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 v\u00e0o \u00edt c\u00f4ng ty h\u01a1n. V\u00e0 sau \u0111\u00f3 l\u00e0 nh\u1eefng n\u0103m nh\u01b0 23 ho\u1eb7c 24, khi th\u1ecb tr\u01b0\u1eddng, ngo\u1ea1i tr\u1eeb AI, suy tho\u00e1i h\u01a1n, ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 nh\u01b0 \u0111i\u00ean v\u00ec ch\u00fang t\u00f4i c\u1ea3m th\u1ea5y c\u01a1 h\u1ed9i l\u00e0 tuy\u1ec7t v\u1eddi. V\u00e0 lu\u1eadn \u0111i\u1ec3m th\u00ec t\u01b0\u01a1ng t\u1ef1. Ch\u00fang t\u00f4i c\u00f3 quan \u0111i\u1ec3m, ch\u00fang t\u00f4i th\u1ea5y c\u00e1c xu h\u01b0\u1edbng v\u00e0 c\u00e1ch c\u00e1c c\u00f4ng ty \u0111ang ph\u00e1t tri\u1ec3n. V\u00e0 khi ch\u00fang ta th\u1ea5y xu h\u01b0\u1edbng ph\u00e1t tri\u1ec3n v\u00ec nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp m\u1edbi \u0111\u01b0a ra c\u00e1c m\u00f4 h\u00ecnh v\u00e0 c\u00e1ch ti\u1ebfp c\u1eadn m\u1edbi, ch\u00fang ta ph\u00e1t tri\u1ec3n lu\u1eadn \u00e1n c\u1ee7a m\u00ecnh theo th\u1eddi gian v\u00e0 ch\u00fang ta th\u1ea5y c\u00e1c th\u1ecb tr\u01b0\u1eddng b\u1eaft \u0111\u1ea7u v\u1edbi c\u00e1c m\u00f4 h\u00ecnh cam k\u1ebft k\u00e9p n\u00e0y sau \u0111\u00f3 tr\u1edf n\u00ean gi\u1ed1ng nh\u01b0 theo chi\u1ec1u d\u1ecdc h\u01a1n theo chi\u1ec1u d\u1ecdc, v\u00ec v\u1eady ch\u00fang l\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng theo chi\u1ec1u ngang v\u00e0 th\u1ecb tr\u01b0\u1eddng theo chi\u1ec1u d\u1ecdc, sau \u0111\u00f3 ch\u00fang l\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng \u0111\u01b0\u1ee3c qu\u1ea3n l\u00fd v\u00e0 sau \u0111\u00f3 ch\u00fang ta c\u00f3 c\u00e1c lo\u1ea1i th\u1ecb tr\u01b0\u1eddng ch\u1ecdn th\u1ecb tr\u01b0\u1eddng, t\u00f4i s\u1ebd tr\u00ecnh b\u00e0y chi ti\u1ebft v\u1ec1 nh\u1eefng lo\u1ea1i th\u1ecb tr\u01b0\u1eddng n\u00e0y v\u00e0 ch\u1eafc ch\u1eafn s\u1ebd c\u00f3 nhi\u1ec1u xu h\u01b0\u1edbng h\u01a1n n\u1eefa x\u1ea3y ra v\u00e0o n\u0103m 2025 v\u00e0 ch\u00fang ta v\u1eabn \u0111ang \u1edf giai \u0111o\u1ea1n \u0111\u1ea7u c\u1ee7a cu\u1ed9c c\u00e1ch m\u1ea1ng th\u1ecb tr\u01b0\u1eddng, th\u1eadt \u0111\u00e1ng kinh ng\u1ea1c.       \n Fabian Tausch:\n [2:20]  C\u1ea3m nh\u1eadn c\u1ee7a m\u1ecdi ng\u01b0\u1eddi v\u1ec1 n\u0103m 2025 th\u1ebf n\u00e0o. V\u00e0 \u0111\u1ec3 \u0111i s\u00e2u h\u01a1n, khi b\u1ea1n nh\u00ecn l\u1ea1i n\u0103m 2024, c\u1ea3m nh\u1eadn c\u1ee7a m\u1ecdi ng\u01b0\u1eddi v\u1ec1 n\u0103m 2024 th\u1ebf n\u00e0o v\u00e0 sau \u0111\u00f3 l\u00e0 d\u1ef1 \u0111o\u00e1n v\u1ec1 n\u0103m 2025 d\u1ef1a tr\u00ean \u0111i\u1ec1u \u0111\u00f3.  \n Fabrice Grinda:\n [2:34]  H\u00e3y \u0111\u1ec3 t\u00f4i n\u00f3i v\u1ec1 t\u00ecnh c\u1ea3m \u0111\u01b0\u1ee3c vi\u1ebft l\u1edbn trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m, v\u00ec v\u1eady n\u0103m 21 t\u1ea5t nhi\u00ean l\u00e0 m\u1ed9t n\u0103m s\u00f4i \u0111\u1ed9ng khi m\u1ecdi th\u1ee9 \u0111\u1ec1u s\u1ee7i b\u1ecdt v\u00e0 m\u1ecdi th\u1ee9 \u0111\u1ec1u \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 qu\u00e1 cao v\u00e0 khi l\u00e3i su\u1ea5t t\u0103ng l\u00ean v\u00ec \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m l\u00e0 m\u1ed9t t\u00e0i s\u1ea3n r\u1ee7i ro, \u0111\u00e3 c\u00f3 s\u1ef1 c\u1eaft gi\u1ea3m l\u1edbn v\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m \u0111\u00e3 suy tho\u00e1i v\u00e0 th\u1eadm ch\u00ed l\u00e0 suy tho\u00e1i, n\u1ebfu kh\u00f4ng ph\u1ea3i l\u00e0 m\u00f9a \u0111\u00f4ng l\u1ea1nh gi\u00e1 trong v\u00e0i n\u0103m qua. V\u00ec v\u1eady, n\u0103m 23 v\u00e0 24, ch\u00fang ta c\u00f3 t\u1ed5ng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m gi\u1ea3m kho\u1ea3ng 66 \u0111\u1ebfn 75% t\u1eeb \u0111\u1ec9nh xu\u1ed1ng \u0111\u00e1y. B\u00e2y gi\u1edd, t\u1ea5t nhi\u00ean, c\u00f3 th\u1ec3 \u0111\u1ec9nh \u0111\u00e3 \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 qu\u00e1 cao v\u00e0o n\u0103m 21, nh\u01b0ng n\u00f3 \u0111ang c\u1eaft gi\u1ea3m m\u1ea1nh v\u1edbi s\u1ed1 l\u01b0\u1ee3ng \u0111\u1ea7u t\u01b0 \u00edt h\u01a1n, quy m\u00f4 s\u00e9c th\u1ea5p h\u01a1n v\u00e0 v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 kh\u00f4ng c\u00f3 l\u1ed1i tho\u00e1t v\u00e0 kh\u00f4ng c\u00f3 thanh kho\u1ea3n n\u00e0o \u0111\u01b0\u1ee3c thu \u0111\u01b0\u1ee3c. V\u00e0 v\u00ec v\u1eady, \u0111\u00f3 l\u00e0 c\u00e2u chuy\u1ec7n c\u1ee7a hai th\u00e0nh ph\u1ed1. C\u00f3 m\u1ed9t \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m n\u00f3i chung, gi\u1ed1ng nh\u01b0 cu\u1ed9c suy tho\u00e1i s\u00e2u s\u1eafc n\u00e0y. C\u00f3 m\u1ed9t AI c\u1ef1c k\u1ef3 n\u00f3ng b\u1ecfng, s\u1ee7i b\u1ecdt v\u00e0 s\u00f4i \u0111\u1ed9ng v\u00e0 ti\u1ebfp t\u1ee5c nh\u01b0 v\u1eady. V\u00ec v\u1eady, t\u00f4i th\u1ef1c s\u1ef1 ngh\u0129 r\u1eb1ng n\u1ebfu nh\u00ecn l\u1ea1i n\u0103m 24, t\u00f4i mong \u0111\u1ee3i r\u1eb1ng suy tho\u00e1i c\u00f4ng ngh\u1ec7 s\u00e2u s\u1eafc s\u1ebd ti\u1ebfp t\u1ee5c v\u00e0 n\u00f3 \u0111\u00e3 ti\u1ebfp t\u1ee5c. L\u00e3i su\u1ea5t v\u1eabn cao. C\u01a1 h\u1ed9i thanh kho\u1ea3n v\u1eabn h\u1ea1n ch\u1ebf.        \n Fabrice Grinda:\n [3:41]  M&amp;A b\u1ecb h\u1ea1n ch\u1ebf m\u1ed9t ph\u1ea7n v\u00ec c\u00e1c c\u00f4ng ty kh\u00f4ng c\u00f3 nhi\u1ec1u ti\u1ec1n m\u1eb7t b\u00ean ngo\u00e0i AI v\u00e0 v\u00ec M&amp;A ch\u1ee7 y\u1ebfu b\u1ecb k\u00ecm h\u00e3m b\u1edfi c\u00e1c ch\u1ebf \u0111\u1ed9 qu\u1ea3n l\u00fd. SEC, FTC, FCC, v.v. v\u1ec1 c\u01a1 b\u1ea3n \u0111\u00e3 h\u1ea1n ch\u1ebf r\u1ea5t nhi\u1ec1u M&amp;A. V\u00ec v\u1eady, c\u00e1c c\u00f4ng ty l\u1edbn \u0111\u00e3 kh\u00f4ng mua c\u00e1c c\u00f4ng ty kh\u00e1c v\u00e0 th\u1ecb tr\u01b0\u1eddng IPO \u0111\u00e3 \u0111\u00f3ng c\u1eeda. V\u00ec v\u1eady, kh\u00f4ng c\u00f3 thanh kho\u1ea3n. Nhi\u1ec1u LP c\u1ea3m th\u1ea5y b\u1ecb ph\u01a1i b\u00e0y qu\u00e1 m\u1ee9c tr\u01b0\u1edbc c\u00e1c d\u1ef1 \u00e1n m\u1ea1o hi\u1ec3m. V\u00ec v\u1eady, c\u00e1c d\u1ef1 \u00e1n m\u1ea1o hi\u1ec3m n\u00f3i chung \u0111\u00e3 r\u01a1i v\u00e0o t\u00ecnh tr\u1ea1ng tr\u00ec tr\u1ec7 n\u00f3i chung, ngo\u1ea1i tr\u1eeb AI. Trong AI, nhi\u1ec1u ng\u01b0\u1eddi \u0111\u00e3 th\u1ea5y s\u1ef1 t\u0103ng tr\u01b0\u1edfng phi th\u01b0\u1eddng c\u1ee7a AI m\u1edf. H\u1ecd c\u1ea3m th\u1ea5y h\u1ecd s\u1ebd b\u1ecf l\u1ee1 c\u01a1 h\u1ed9i v\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, h\u1ecd kh\u00f4ng ph\u1ea3i l\u00fac n\u00e0o c\u0169ng ch\u1ec9 bi\u1ebft \u0111\u1ebfn AI, kh\u00f4ng th\u1ef1c s\u1ef1 hi\u1ec3u r\u00f5 m\u00ecnh \u0111ang \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1i g\u00ec v\u00e0 ph\u00e2n bi\u1ec7t c\u00e1c s\u1ea3n ph\u1ea9m tuy\u1ec7t v\u1eddi kh\u00f4ng qu\u00e1 tuy\u1ec7t v\u1eddi, th\u01b0\u1eddng \u0111\u1ea7u t\u01b0 v\u00e0o nh\u1eefng g\u00ec t\u00f4i coi l\u00e0 c\u00e1c c\u00f4ng c\u1ee5 \u1ed5n, nh\u01b0ng gi\u1ed1ng nh\u01b0 \u0111\u1ed3ng phi c\u00f4ng ho\u1eb7c b\u1ea5t c\u1ee9 th\u1ee9 g\u00ec, nh\u01b0ng ch\u00fang kh\u00f4ng th\u1ef1c s\u1ef1 kh\u00e1c bi\u1ec7t. Ch\u00fang kh\u00f4ng ph\u1ea3i l\u00e0 c\u00e1c t\u1eadp d\u1eef li\u1ec7u kh\u00e1c bi\u1ec7t, LLM kh\u00e1c bi\u1ec7t, kh\u00f4ng c\u00f3 m\u00f4 h\u00ecnh kinh doanh kh\u1ea3 thi v\u00e0 t\u1ec7 nh\u1ea5t l\u00e0 \u0111\u1ecbnh gi\u00e1 \u0111i\u00ean r\u1ed3. V\u00ec v\u1eady, t\u00f4i ngh\u0129 r\u1eb1ng s\u1ebd c\u00f3 m\u1ed9t ng\u00e0y ph\u00e1n x\u00e9t v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m n\u00e0o \u0111\u00f3 trong kh\u00f4ng gian \u0111\u1ea7u t\u01b0 AI, m\u1eb7c d\u00f9 AI s\u1ebd bi\u1ebfn \u0111\u1ed5i th\u1ebf gi\u1edbi c\u1ee7a ch\u00fang ta. Nh\u01b0ng kh\u00f4ng, n\u00f3 \u0111\u00e3 t\u1eebng r\u1ea5t s\u00f4i \u0111\u1ed9ng v\u00e0 AI, s\u1ef1 tr\u00ec tr\u1ec7 \u1edf m\u1ecdi n\u01a1i kh\u00e1c. B\u00e2y gi\u1edd l\u00e0 25,           \n Fabrice Grinda:\n [4:50]  Th\u1ef1c ra, t\u00ecnh h\u00ecnh v\u0129 m\u00f4 kh\u00e1 t\u1ed1t. Ch\u00fang ta \u0111\u00e3 h\u1ea1 th\u1ea5p l\u1ea1m ph\u00e1t, \u0111\u1ea1t \u0111\u01b0\u1ee3c vi\u1ec7c l\u00e0m \u0111\u1ea7y \u0111\u1ee7, t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf v\u00e0 t\u0103ng tr\u01b0\u1edfng n\u0103ng su\u1ea5t kh\u00e1 t\u1ed1t. B\u00e2y gi\u1edd, khi t\u00f4i h\u01b0\u1edbng t\u1edbi n\u0103m 2025, t\u00f4i ng\u1edd r\u1eb1ng t\u00ecnh h\u00ecnh s\u1ebd v\u1eabn nh\u01b0 v\u1eady. T\u00ecnh h\u00ecnh v\u0129 m\u00f4 l\u00e0 ch\u00fang ta kh\u00f4ng c\u00f2n trong m\u00f4i tr\u01b0\u1eddng do v\u0129 m\u00f4 th\u00fac \u0111\u1ea9y n\u1eefa. Ch\u00fang ta \u0111ang \u1edf trong m\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t th\u1ea5p h\u01a1n m\u1ed9t ch\u00fat, l\u00e0nh t\u00ednh h\u01a1n m\u1ed9t ch\u00fat. V\u00e0 c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n chung v\u1eabn kh\u00e1 t\u1ed1t gi\u1eefa l\u1ea1m ph\u00e1t kh\u00e1 th\u1ea5p, vi\u1ec7c l\u00e0m cao, t\u1ef7 l\u1ec7 th\u1ea5t nghi\u1ec7p th\u1ea5p v\u00e0 t\u0103ng tr\u01b0\u1edfng n\u0103ng su\u1ea5t kh\u00e1 t\u1ed1t. T\u00f4i hy v\u1ecdng, \u0111\u00f3 l\u00e0 hy v\u1ecdng, r\u1eb1ng th\u1ecb tr\u01b0\u1eddng M&amp;A v\u00e0 th\u1ecb tr\u01b0\u1eddng IPO b\u1eaft \u0111\u1ea7u m\u1edf c\u1eeda tr\u1edf l\u1ea1i v\u00e0 cu\u1ed1i c\u00f9ng ch\u00fang ta b\u1eaft \u0111\u1ea7u th\u1ea5y s\u1ef1 tho\u00e1i v\u1ed1n c\u1ee7a nh\u1eefng c\u00f4ng ty t\u1ed1t nh\u1ea5t trong danh m\u1ee5c \u0111\u1ea7u t\u01b0. T\u00f4i ngh\u0129 n\u00f3 s\u1ebd b\u1eaft \u0111\u1ea7u v\u00e0o n\u0103m 25 v\u00e0 s\u1ebd ti\u1ebfp t\u1ee5c v\u00e0o n\u0103m 26 v\u00e0 hy v\u1ecdng s\u1ebd t\u0103ng t\u1ed1c v\u00e0o n\u0103m 26 v\u00e0 27. V\u00e0 k\u1ebft qu\u1ea3 l\u00e0, t\u00f4i nghi ng\u1edd r\u1eb1ng th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m s\u1ebd l\u1edbn m\u1ea1nh ho\u1eb7c b\u1eaft \u0111\u1ea7u tho\u00e1t kh\u1ecfi t\u00ecnh tr\u1ea1ng tr\u00ec tr\u1ec7 b\u00ean ngo\u00e0i AI v\u00e0o n\u0103m 2025. V\u00e0 v\u00ec v\u1eady, t\u00f4i th\u1ef1c s\u1ef1 l\u1ea1c quan h\u01a1n v\u1ec1 th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m trong n\u0103m 25 v\u00e0 26 so v\u1edbi tr\u01b0\u1edbc \u0111\u00e2y. V\u00e0 v\u00e2ng, t\u00f4i s\u1ebd d\u1eebng l\u1ea1i \u1edf \u0111\u00e2y.          \n Fabian Tausch:\n [5:56]  Vi\u1ec7c tho\u00e1t v\u1ed1n c\u00f3 ph\u1ea3i x\u1ea3y ra tr\u01b0\u1edbc khi th\u1ecb tr\u01b0\u1eddng \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m b\u1eaft \u0111\u1ea7u t\u0103ng t\u1ed1c tr\u1edf l\u1ea1i kh\u00f4ng? Hay b\u1ea1n n\u00f3i l\u00e0 do d\u1ef1 \u0111o\u00e1n r\u1eb1ng \u0111i\u1ec1u n\u00e0y s\u1ebd x\u1ea3y ra v\u00e0o n\u0103m 25, 26 ho\u1eb7c 27, ch\u1eb3ng h\u1ea1n nh\u01b0 b\u1ea5t c\u1ee9 ng\u00e0y ch\u00ednh x\u00e1c n\u00e0o, m\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u c\u00f3 nhi\u1ec1u kh\u1ea3 n\u0103ng h\u01a1n, v\u00e0 LP c\u0169ng c\u00f3 nhi\u1ec1u kh\u1ea3 n\u0103ng \u0111\u1ea7u t\u01b0 ti\u1ec1n v\u00e0o c\u00e1c qu\u1ef9 m\u1ed9t l\u1ea7n n\u1eefa. V\u1eady \u0111\u1ed9ng l\u1ef1c \u1edf \u0111\u00e2y l\u00e0 g\u00ec?  \n Fabrice Grinda:\n [6:17]  T\u00f4i ngh\u0129 l\u00e0 c\u1ea3 hai. R\u00f5 r\u00e0ng l\u00e0 khi c\u00e1c \u0111\u1ee3t tho\u00e1i v\u1ed1n di\u1ec5n ra, c\u00e1c LP s\u1ebd c\u00f3 \u0111\u01b0\u1ee3c thanh kho\u1ea3n v\u00e0 h\u1ecd s\u1eb5n s\u00e0ng vi\u1ebft l\u1ea1i s\u00e9c th\u00e0nh c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m h\u01a1n. Nh\u01b0ng nh\u00ecn chung, v\u00ec c\u00e1c lo\u1ea1i t\u00e0i s\u1ea3n kh\u00e1c, \u0111\u1eb7c bi\u1ec7t l\u00e0 th\u1ecb tr\u01b0\u1eddng c\u00f4ng c\u1ed9ng, \u0111\u00e3 ho\u1ea1t \u0111\u1ed9ng kh\u00e1 t\u1ed1t, n\u00ean c\u00f3 m\u1ed9t s\u1ed1 m\u1ee9c thanh kho\u1ea3n v\u00e0 l\u00e3i su\u1ea5t \u0111ang b\u1eaft \u0111\u1ea7u gi\u1ea3m. V\u00ec v\u1eady, t\u00f4i nghi ng\u1edd r\u1eb1ng ngay c\u1ea3 khi kh\u00f4ng c\u00f3 nh\u1eefng d\u1ea5u hi\u1ec7u tho\u00e1i v\u1ed1n ban \u0111\u1ea7u, s\u1ebd c\u00f3 nhi\u1ec1u nhu c\u1ea7u \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m v\u00e0 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m h\u01a1n \u1edf 25 so v\u1edbi 23 v\u00e0 24. R\u00f5 r\u00e0ng l\u00e0 n\u00f3 s\u1ebd t\u0103ng t\u1ed1c \u0111\u1ec3 \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 r\u1ea5t nhi\u1ec1u b\u1edfi c\u00e1c \u0111\u1ee3t tho\u00e1i v\u1ed1n, nh\u01b0ng n\u1ebfu ch\u00fang v\u1eabn ch\u01b0a x\u1ea3y ra, t\u00f4i ngh\u0129 c\u00f3 l\u1ebd v\u1eabn \u1ed5n.    \n Fabian Tausch:\n [6:55]  G\u1ea7n \u0111\u00e2y t\u00f4i \u0111\u00e3 th\u1ef1c hi\u1ec7n m\u1ed9t t\u1eadp ng\u1eafn v\u1edbi Kevin Hartz, ng\u01b0\u1eddi m\u00e0 b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 bi\u1ebft, v\u00e0 Kevin n\u00f3i r\u1eb1ng hi\u1ec7n t\u1ea1i kh\u00f4ng c\u00f3 \u0111\u1ed9ng l\u1ef1c n\u00e0o \u0111\u1ec3 c\u00f4ng khai, v\u00e0 \u0111\u00f3 l\u00e0 nh\u1eefng g\u00ec ch\u00fang ta \u0111ang n\u00f3i \u0111\u1ebfn. V\u00e0 anh \u1ea5y c\u0169ng n\u00f3i r\u1eb1ng s\u1ebd kh\u00f4ng c\u00f3 th\u1eddi gian s\u1edbm. V\u00e0 t\u00f4i gi\u1ed1ng nh\u01b0, t\u1ea1i sao l\u00fac \u0111\u1ea7u, gi\u1ed1ng nh\u01b0, t\u1ea1i sao kh\u00f4ng c\u00f3, v\u00e0 b\u1ea1n c\u00f3 \u0111\u1ed3ng \u00fd kh\u00f4ng l\u00e0 t\u00f4i ngh\u0129 c\u00e2u h\u1ecfi \u0111\u1ea7u ti\u00ean. V\u00e0 c\u00e2u h\u1ecfi th\u1ee9 hai l\u00e0, \u0111i\u1ec1u g\u00ec c\u1ea7n thay \u0111\u1ed5i \u0111\u1ec3 th\u1ecb tr\u01b0\u1eddng IPO tr\u1edf n\u00ean h\u1ea5p d\u1eabn h\u01a1n m\u1ed9t l\u1ea7n n\u1eefa \u0111\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty t\u1ed1t m\u00e0 b\u1ea1n c\u0169ng \u0111ang \u0111\u1ec1 c\u1eadp, n\u00f3i r\u1eb1ng, n\u00e0y, c\u00e1c c\u00f4ng ty t\u1ed1t nh\u1ea5t m\u00e0 ch\u00fang ta c\u00f3 trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 hi\u1ec7n kh\u00f4ng tho\u00e1t ra v\u00e0 kh\u00f4ng IPO. V\u1eady \u0111i\u1ec1u g\u00ec c\u1ea7n thay \u0111\u1ed5i?    \n Fabrice Grinda:\n [7:30]  V\u00e2ng, c\u00f3 nhi\u1ec1u l\u00fd do kh\u00e1c nhau khi\u1ebfn m\u1ecdi ng\u01b0\u1eddi kh\u00f4ng mu\u1ed1n c\u00f4ng khai. Tr\u01b0\u1edbc h\u1ebft, n\u1ebfu ch\u00fang t\u00f4i l\u00e0 nh\u1eefng c\u00f4ng ty t\u1ed1t nh\u1ea5t trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 v\u00e0 b\u1ea1n \u0111ang g\u1ed9p l\u1ea1i r\u1ea5t nhanh, th\u00ec kh\u00f4ng c\u00f3 l\u00fd do g\u00ec \u0111\u1ec3 b\u1ea1n c\u00f4ng khai, \u0111\u00fang kh\u00f4ng? N\u1ebfu b\u1ea1n l\u00e0 SpaceX ho\u1eb7c Stripe, v\u00e0 b\u1ea1n \u0111\u00e3 c\u00f3 quy\u1ec1n truy c\u1eadp v\u00e0o thanh kho\u1ea3n th\u00f4ng qua th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p v\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111ang \u0111\u1ed5 v\u1ed1n v\u00e0o b\u1ea1n, b\u1ea5t k\u1ec3 th\u1ef1c t\u1ebf l\u00e0 b\u1ea1n \u0111\u00e3 c\u00f3 gi\u00e1 tr\u1ecb h\u00e0ng tr\u0103m t\u1ef7 \u0111\u00f4 la trong tr\u01b0\u1eddng h\u1ee3p c\u1ee7a SpaceX&#8230; Th\u00ec vi\u1ec7c tr\u00ec ho\u00e3n IPO c\u00f3 l\u1ebd l\u00e0 h\u1ee3p l\u00fd, \u0111\u1eb7c bi\u1ec7t l\u00e0 v\u00ec b\u1ea1n kh\u00f4ng mu\u1ed1n gi\u1ea3i quy\u1ebft t\u1ea5t c\u1ea3 nh\u1eefng nh\u01b0\u1ee3c \u0111i\u1ec3m c\u1ee7a vi\u1ec7c c\u00f4ng khai, vi\u1ec7c c\u00f4ng khai t\u1ea5t c\u1ea3 th\u00f4ng tin, gi\u1ea3i quy\u1ebft vi\u1ec7c tu\u00e2n th\u1ee7 M\u1ee5c 404 v\u00e0 SOX v\u00e0 t\u1ea5t c\u1ea3 c\u00e1c ch\u1ebf \u0111\u1ed9 qu\u1ea3n l\u00fd v\u00e0 n\u1ed7i \u0111au ph\u00e1t sinh t\u1eeb vi\u1ec7c c\u00f4ng khai. V\u00e0 v\u00ec v\u1eady, b\u1ea1n bi\u1ebft \u0111\u1ea5y, t\u00f4i ngh\u0129 ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 gi\u00e1n ti\u1ebfp v\u00e0o SpaceX v\u00e0o n\u0103m 2007, b\u1ea1n bi\u1ebft \u0111\u1ea5y, v\u00e0 \u0111\u00e3 18 n\u0103m, \u0111\u00e3 bao l\u00e2u r\u1ed3i, 17 n\u0103m v\u00e0 h\u1ecd v\u1eabn v\u1eady, ch\u00fang t\u00f4i \u0111\u00e3 18 n\u0103m t\u1ea1i th\u1eddi \u0111i\u1ec3m n\u00e0y, v\u00e0 h\u1ecd v\u1eabn ch\u01b0a c\u00f4ng khai v\u00e0 s\u1ebd kh\u00f4ng c\u00f4ng khai trong th\u1eddi gian t\u1edbi. v\u00e0 \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng sao c\u1ea3. C\u00f3 nh\u1eefng c\u00f4ng ty kh\u00f4ng th\u1ec3 th\u1ef1c s\u1ef1 l\u00ean s\u00e0n v\u00ec h\u1ecd huy \u0111\u1ed9ng v\u1ed1n \u1edf m\u1ee9c 21 v\u1edbi m\u1ee9c gi\u00e1 r\u1ea5t cao. V\u00e0 ng\u00e0y nay, th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai th\u1ef1c s\u1ef1 s\u1ebd c\u00f3 m\u1ee9c \u0111\u1ecbnh gi\u00e1 th\u1ea5p h\u01a1n so v\u1edbi c\u00e1c th\u01b0\u01a1ng hi\u1ec7u t\u01b0 nh\u00e2n. V\u00e0 v\u00ec v\u1eady \u0111\u1ed1i v\u1edbi h\u1ecd, vi\u1ec7c l\u00ean s\u00e0n l\u00e0 kh\u00f4ng h\u1ea5p d\u1eabn tr\u1eeb khi h\u1ecd th\u1ef1c s\u1ef1 c\u1ea7n v\u1ed1n v\u00e0 h\u1ecd b\u1ecb lo\u1ea1i kh\u1ecfi th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n. Nh\u01b0ng th\u00e0nh th\u1eadt m\u00e0 n\u00f3i, h\u1ecd c\u00f3 th\u1ec3 kh\u00f4ng ph\u1ea3i l\u00e0 \u1ee9ng c\u1eed vi\u00ean t\u1ed1t nh\u1ea5t. Nh\u01b0ng c\u00f3 b\u01b0\u1edbc trung gian n\u00e0y c\u1ee7a c\u00e1c c\u00f4ng ty m\u00e0 t\u00f4i ngh\u0129 l\u00e0 \u0111\u00e3 s\u1eb5n s\u00e0ng l\u00ean s\u00e0n.          \n Fabrice Grinda:\n [8:49]  Ch\u00fang c\u00f3 gi\u00e1 kh\u00e1 h\u1ee3p l\u00fd so v\u1edbi v\u00f2ng tr\u01b0\u1edbc v\u00e0 vi\u1ec7c l\u00ean s\u00e0n s\u1ebd l\u00e0 s\u1ef1 ki\u1ec7n thanh kho\u1ea3n cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0, ng\u01b0\u1eddi s\u00e1ng l\u1eadp v\u00e0 LP c\u1ee7a h\u1ecd. V\u00e0 h\u1ecd c\u0169ng \u0111\u00e3 \u0111\u1ee7 mu\u1ed9n trong cu\u1ed9c ch\u01a1i \u0111\u1ec3 th\u1ef1c s\u1ef1 \u0111i, kh\u00f4ng, h\u1ecd \u0111\u00e3 l\u00e0 series G ngay b\u00e2y gi\u1edd. V\u00e0 v\u00ec v\u1eady c\u00f3 l\u1ebd kh\u00f4ng c\u00f2n v\u1ed1n n\u00e0o tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n th\u1ef1c s\u1ef1 c\u00f3 \u00fd ngh\u0129a n\u1eefa. V\u00e0 \u0111\u1ed1i v\u1edbi nh\u1eefng c\u00f4ng ty \u0111\u00f3, t\u00f4i ngh\u0129 vi\u1ec7c l\u00ean s\u00e0n l\u00e0 c\u00f3 \u00fd ngh\u0129a. V\u00e0 c\u00f3 nh\u1eefng c\u00f4ng ty nh\u01b0 ShipBob ho\u1eb7c Flexport ho\u1eb7c Klarna, v\u00e0 t\u00f4i ngh\u0129 h\u1ecd s\u1ebd l\u00ean s\u00e0n v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m n\u00e0o \u0111\u00f3 trong n\u0103m 25 ho\u1eb7c 26. Theo \u0111\u00f3, v\u0169 tr\u1ee5 c\u00e1c c\u00f4ng ty m\u00e0 vi\u1ec7c l\u00ean s\u00e0n c\u00f3 \u00fd ngh\u0129a s\u1ebd b\u1ecb h\u1ea1n ch\u1ebf h\u01a1n. B\u00e2y gi\u1edd, c\u00f3 c\u00e1ch n\u00e0o \u0111\u1ec3 l\u00e0m cho vi\u1ec7c l\u00ean s\u00e0n b\u1edbt g\u00e1nh n\u1eb7ng h\u01a1n v\u1ec1 c\u1ea3 chi ph\u00ed v\u00e0 gi\u00e1m s\u00e1t kh\u00f4ng?       C\u00f3 l\u1ebd.\n Fabrice Grinda:\n [9:32]  \u0110\u00e3 \u0111\u1ee7 \u0111au \u0111\u1edbn khi kh\u00f4ng c\u00f3 \u00fd ngh\u0129a g\u00ec khi ni\u00eam y\u1ebft tr\u1eeb khi b\u1ea1n c\u00f3 gi\u00e1 tr\u1ecb kho\u1ea3ng 5 t\u1ef7 \u0111\u00f4 la tr\u1edf l\u00ean. N\u1ebfu kh\u00f4ng, b\u1ea1n s\u1ebd kh\u00f4ng c\u00f3 thanh kho\u1ea3n, b\u1ea1n kh\u00f4ng c\u00f3 ph\u1ea1m vi b\u1ea3o hi\u1ec3m v\u00f4 t\u1eadn. V\u00e0 \u0111i\u1ec1u \u0111\u00f3 \u0111\u00e3 t\u1eebng r\u1ea5t kh\u00e1c. T\u00f4i ngh\u0129 Microsoft \u0111\u00e3 ni\u00eam y\u1ebft khi v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng c\u1ee7a c\u00f4ng ty l\u00e0 260 tri\u1ec7u \u0111\u00f4 la. N\u1ebfu b\u1ea1n c\u00f3 gi\u00e1 tr\u1ecb 360 tri\u1ec7u \u0111\u00f4 la ng\u00e0y nay, b\u1ea1n kh\u00f4ng \u0111\u1ee7 kh\u1ea3 n\u0103ng \u0111\u1ec3 ni\u00eam y\u1ebft. B\u1ea1n ph\u1ea3i t\u1ed1n v\u00e0i tri\u1ec7u \u0111\u00f4 la m\u1ed7i n\u0103m \u0111\u1ec3 ni\u00eam y\u1ebft v\u00e0 b\u1ea1n s\u1ebd kh\u00f4ng c\u00f3 ph\u1ea1m vi b\u1ea3o hi\u1ec3m v\u00e0 thanh kho\u1ea3n. V\u1eady ch\u00fang ta c\u00f3 mu\u1ed1n h\u1ea1 th\u1ea5p \u0111i\u1ec1u n\u00e0y xu\u1ed1ng n\u1eefa kh\u00f4ng? C\u00f3 th\u1ec3, trong tr\u01b0\u1eddng h\u1ee3p \u0111\u00f3, n\u00f3 \u0111\u00f2i h\u1ecfi m\u1ed9t ch\u1ebf \u0111\u1ed9 kh\u00e1 s\u00e2u s\u1eafc, thay \u0111\u1ed5i ch\u1ebf \u0111\u1ed9 qu\u1ea3n l\u00fd, m\u00e0 t\u00f4i kh\u00f4ng th\u1ea5y trong c\u00e1c l\u00e1 b\u00e0i. V\u00e0 v\u00ec v\u1eady, t\u00f4i nghi ng\u1edd r\u1eb1ng ng\u01b0\u1ee1ng ni\u00eam y\u1ebft, \u00edt nh\u1ea5t l\u00e0 \u1edf Hoa K\u1ef3, s\u1ebd v\u1eabn kh\u00e1 cao. V\u00e0 \u0111i\u1ec1u \u0111\u00f3 \u1ed5n. T\u00f4i ngh\u0129 r\u1eb1ng n\u00f3 c\u00f3 ngh\u0129a l\u00e0 m\u1ed9t lo\u1ea1i b\u1ea3o v\u1ec7 cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai v\u00e0 c\u00f4ng ch\u00fang n\u00f3i chung khi h\u1ecd mua t\u1ea5t v\u00e0 h\u1ecd kh\u00f4ng mua c\u00e1c c\u00f4ng ty t\u1ed3i. M\u1eb7c d\u00f9 \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 n\u00f3 c\u00f3 th\u1ec3 c\u1eaft gi\u1ea3m h\u1ecd v\u1ec1 c\u00e1c c\u00f4ng ty t\u0103ng tr\u01b0\u1edfng cao, n\u01a1i h\u1ea7u h\u1ebft t\u0103ng tr\u01b0\u1edfng cao di\u1ec5n ra tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n. V\u00e0 sau \u0111\u00f3, khi ch\u00fang kh\u00f4ng c\u00f2n t\u0103ng tr\u01b0\u1edfng cao n\u1eefa, ch\u00fang s\u1ebd tr\u1edf th\u00e0nh c\u00f4ng ty \u0111\u1ea1i ch\u00fang. V\u00ec v\u1eady, th\u1eadt t\u1ec7 n\u1ebfu b\u1ea1n l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ecb tr\u01b0\u1eddng c\u00f4ng khai v\u00ec \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 h\u1ea7u h\u1ebft gi\u00e1 tr\u1ecb s\u1ebd thu\u1ed9c v\u1ec1 nh\u1eefng ng\u01b0\u1eddi nh\u01b0 t\u00f4i \u1edf ph\u00eda t\u01b0 nh\u00e2n. V\u1ec1 m\u1eb7t c\u1ea5u tr\u00fac, \u0111\u00f3 l\u00e0 nh\u1eefng g\u00ec n\u00f3 v\u1ed1n c\u00f3.              \n Fabian Tausch:\n [10:38]  To\u00e0n b\u1ed9 \u0111\u1ed9ng l\u1ef1c n\u00e0y c\u00f3 \u00fd ngh\u0129a g\u00ec \u0111\u1ed1i v\u1edbi nh\u1eefng ng\u01b0\u1eddi nh\u01b0 b\u1ea1n, nh\u1eefng ng\u01b0\u1eddi \u0111i\u1ec1u h\u00e0nh c\u00e1c qu\u1ef9 th\u01b0\u1eddng ho\u1ea1t \u0111\u1ed9ng theo c\u01a1 s\u1edf 10 c\u1ed9ng 2, t\u1ee9c l\u00e0 10 n\u0103m c\u1ee7a m\u1ed9t \u0111\u01b0\u1eddng ch\u00e2n tr\u1eddi \u0111\u1ea7u t\u01b0, c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh m\u1ed9t ch\u00fat v\u00e0 k\u00e9o d\u00e0i? Nh\u01b0ng khi th\u1ea5y t\u1ea5t c\u1ea3 nh\u1eefng \u0111\u1ed9ng l\u1ef1c n\u00e0y thay \u0111\u1ed5i v\u00f2ng \u0111\u1eddi c\u1ee7a m\u1ed9t c\u00f4ng ty cho \u0111\u1ebfn khi m\u1ed9t s\u1ef1 ki\u1ec7n thanh kho\u1ea3n x\u1ea3y ra trong t\u01b0\u01a1ng lai, \u0111i\u1ec1u n\u00e0y s\u1ebd thay \u0111\u1ed5i ng\u00e0nh \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m nh\u01b0 th\u1ebf n\u00e0o? \n Fabrice Grinda:\n [11:05]  Kho\u1ea3ng th\u1eddi gian t\u1eeb khi \u0111\u1ea7u t\u01b0 \u0111\u1ebfn khi tho\u00e1t v\u1ed1n \u0111\u00e3 t\u0103ng l\u00ean \u0111\u00e1ng k\u1ec3. N\u00f3 \u0111\u00e3 li\u00ean t\u1ee5c t\u0103ng trong 20 n\u0103m qua. V\u00e0 \u0111\u00fang v\u1eady, ng\u00e0y nay, n\u1ebfu b\u1ea1n \u0111\u1ea7u t\u01b0 v\u00e0o h\u1ea1t gi\u1ed1ng, c\u00f3 l\u1ebd \u0111\u1ed1i v\u1edbi nh\u1eefng c\u00f4ng ty t\u1ed1t nh\u1ea5t, b\u1ea1n s\u1ebd v\u01b0\u1ee3t qu\u00e1 12 n\u0103m, 10 c\u1ed9ng 2. V\u00e0 b\u1ea1n s\u1ebd ph\u1ea3i xin th\u01b0 t\u1eeb LPA c\u1ee7a m\u00ecnh \u0111\u1ec3 gia h\u1ea1n th\u00eam n\u1eefa. Th\u1ef1c ra c\u00f3 l\u1ebd h\u1ee3p l\u00fd khi n\u00f3i nh\u01b0 v\u1eady v\u00ec ch\u00fang \u0111ang t\u00edch l\u0169y m\u1ea1nh m\u1ebd v\u00e0 b\u1ea1n kh\u00f4ng mu\u1ed1n tho\u00e1t v\u1ed1n qu\u00e1 s\u1edbm trong b\u1ea5t k\u1ef3 tr\u01b0\u1eddng h\u1ee3p n\u00e0o trong s\u1ed1 n\u00e0y. V\u1ea5n \u0111\u1ec1 theo quan \u0111i\u1ec3m c\u1ee7a ng\u00e0nh \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m l\u00e0 v\u00ec DPI kh\u00e1 th\u1ea5p, do \u0111\u00f3, v\u1ed1n ph\u00e2n ph\u1ed1i, s\u1ed1 ti\u1ec1n tho\u00e1t v\u1ed1n m\u00e0 ch\u00fang t\u00f4i nh\u1eadn \u0111\u01b0\u1ee3c tr\u00ean \u0111\u01b0\u1eddng \u0111i l\u00ean, ch\u00eanh l\u1ec7ch gi\u1eefa th\u1eddi \u0111i\u1ec3m b\u1ea1n huy \u0111\u1ed9ng v\u1ed1n v\u00e0 th\u1eddi \u0111i\u1ec3m b\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c v\u1ed1n, c\u00f3 th\u1ec3 c\u00f3 \u0111\u1ed9 tr\u1ec5 ba qu\u1ef9. Ch\u00fang t\u00f4i hi\u1ec7n \u0111ang \u1edf qu\u1ef9 th\u1ee9 t\u01b0, ch\u00fang t\u00f4i s\u1eafp huy \u0111\u1ed9ng \u0111\u01b0\u1ee3c 25% trong qu\u00fd 1.      \n Fabrice Grinda:\n [11:56]  Qu\u1ef9 \u0111\u1ea7u ti\u00ean c\u1ee7a ch\u00fang t\u00f4i hi\u1ec7n \u0111\u00e3 \u0111\u01b0\u1ee3c ph\u00e2n ph\u1ed1i \u0111\u1ea7y \u0111\u1ee7, ngh\u0129a l\u00e0 ch\u00fang t\u00f4i \u0111\u00e3 ho\u00e0n l\u1ea1i 1x v\u1ed1n. Theo m\u1ed9t c\u00e1ch n\u00e0o \u0111\u00f3, qu\u1ef9 \u0111\u1ea7u ti\u00ean tho\u00e1t ra v\u00e0 ch\u00fang t\u00f4i \u0111ang \u1edf top 10 c\u1ee7a DPI. V\u00e0 v\u00ec v\u1eady, h\u1ea7u h\u1ebft c\u00e1c qu\u1ef9, c\u00f3 l\u1ebd, c\u00f3 \u0111\u1ed9 tr\u1ec5 b\u1ed1n, n\u0103m, s\u00e1u qu\u1ef9 gi\u1eefa \u0111\u1ea7u t\u01b0 v\u00e0 tho\u00e1t ra, \u0111\u00f3 l\u00e0 d\u00f2ng ti\u1ec1n \u00e2m l\u1edbn. Tuy nhi\u00ean, \u0111i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 \u0111\u1ed1i v\u1edbi nh\u1eefng ng\u01b0\u1eddi nh\u01b0 ch\u00fang t\u00f4i, l\u00fd do ch\u00fang t\u00f4i c\u00f3 th\u1ec3, theo m\u1ed9t c\u00e1ch n\u00e0o \u0111\u00f3, tho\u00e1t kh\u1ecfi n\u00f3 v\u1edbi DPI cao l\u00e0 v\u00ec ch\u00fang t\u00f4i vi\u1ebft s\u00e9c nh\u1ecf. Ch\u00fang t\u00f4i \u0111\u00e3 nh\u1eadn \u0111\u01b0\u1ee3c r\u1ea5t nhi\u1ec1u kho\u1ea3n tho\u00e1t ra th\u00f4ng qua c\u00e1c kho\u1ea3n th\u1ee9 c\u1ea5p. V\u00e0 v\u00ec v\u1eady, c\u00e1c th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p th\u1ef1c s\u1ef1 \u0111\u00e3 b\u00f9ng n\u1ed5. V\u00ec v\u1eady, m\u1ed9t trong nh\u1eefng xu h\u01b0\u1edbng l\u1edbn h\u01a1n trong \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m l\u00e0 ng\u00e0y c\u00e0ng c\u00f3 nhi\u1ec1u kho\u1ea3n th\u1ee9 c\u1ea5p, c\u1ea3 trong c\u00e1c c\u00f4ng ty, nh\u01b0ng th\u1ef1c t\u1ebf l\u00e0 trong c\u00e1c qu\u1ef9. C\u00f3 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1edbi \u0111ang mua c\u00e1c v\u1ecb th\u1ebf to\u00e0n di\u1ec7n ho\u1eb7c c\u00e1c v\u1ecb th\u1ebf LP t\u1eeb c\u00e1c LP kh\u00e1c, \u0111\u1eb7c bi\u1ec7t l\u00e0 trong c\u00e1c qu\u1ef9 giai \u0111o\u1ea1n cu\u1ed1i ho\u1eb7c c\u00e1c qu\u1ef9 \u0111\u00e3 tri\u1ec3n khai trong 10 n\u0103m ho\u1eb7c 12 n\u0103m ho\u1eb7c b\u1ea5t k\u1ef3 th\u1eddi gian n\u00e0o, v\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111\u00e3 m\u1ec7t m\u1ecfi v\u00e0 h\u1ecd ch\u1ec9 mu\u1ed1n tho\u00e1t ra. V\u00e0 b\u1ea1n c\u0169ng c\u00f3 nh\u1eefng ng\u01b0\u1eddi mua c\u00e1c v\u1ecb th\u1ebf trong c\u00e1c GP c\u1ee7a qu\u1ef9. V\u00ec v\u1eady, c\u00e1c qu\u1ef9 th\u1ee9 c\u1ea5p \u0111ang tr\u1edf n\u00ean l\u1edbn h\u01a1n v\u00e0 l\u1edbn h\u01a1n. V\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng th\u1ee9 c\u1ea5p nh\u01b0 Forge, Equities, InsurancePost, NASDAQ, c\u00e1c th\u1ecb tr\u01b0\u1eddng t\u01b0 nh\u00e2n \u0111ang ng\u00e0y c\u00e0ng l\u1edbn h\u01a1n khi m\u1ecdi ng\u01b0\u1eddi theo \u0111u\u1ed5i t\u00ednh thanh kho\u1ea3n. V\u00ec v\u1eady, \u0111\u00f3 l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn. V\u00e0 b\u1eb1ng c\u00e1ch \u0111\u1ea7u t\u01b0 ngay b\u00e2y gi\u1edd, t\u00f4i ngh\u0129 r\u1eb1ng v\u00e0o c\u00e1c qu\u1ef9 th\u1ee9 c\u1ea5p c\u00f3 \u00fd ngh\u0129a r\u1ea5t l\u1edbn v\u00ec t\u00ednh thanh kho\u1ea3n \u0111ang \u1edf m\u1ee9c cao. V\u00e0 v\u00ec v\u1eady, b\u1ea1n c\u00f3 th\u1ec3 mua c\u00e1c v\u1ecb th\u1ebf c\u1ee7a c\u00e1c c\u00f4ng ty v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u t\u1ed1t, nh\u01b0ng b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 mua c\u00e1c v\u1ecb th\u1ebf trong c\u00e1c qu\u1ef9 t\u1ed1t v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u r\u1ea5t l\u1edbn, nh\u01b0 40, 50, 60% so v\u1edbi NAV c\u1ee7a nh\u1eefng ng\u01b0\u1eddi mu\u1ed1n c\u00f3 t\u00ednh thanh kho\u1ea3n.             \n Fabian Tausch:\n [13:26]  \u0110i\u1ec1u n\u00e0y \u1ea3nh h\u01b0\u1edfng th\u1ebf n\u00e0o \u0111\u1ebfn c\u00e1ch t\u00f4i, v\u1edbi t\u01b0 c\u00e1ch l\u00e0 ng\u01b0\u1eddi s\u00e1ng l\u1eadp, x\u00e1c \u0111\u1ecbnh xem m\u00ecnh mu\u1ed1n m\u1eddi ai tham gia v\u1edbi t\u01b0 c\u00e1ch l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0?\n Fabrice Grinda:\n [13:34]  Nh\u00ecn chung, tr\u01b0\u1edbc h\u1ebft, vi\u1ec7c ch\u1ecdn m\u1ed9t \u0111\u1ea1i s\u1ee9 gi\u1ed1ng nh\u01b0 m\u1ed9t cu\u1ed9c h\u00f4n nh\u00e2n, \u0111\u00fang kh\u00f4ng? H\u1ecd l\u00e0 \u0111\u1ea1i s\u1ee9 ch\u00ednh c\u1ee7a b\u1ea1n. H\u1ecd n\u1eb1m trong ban qu\u1ea3n l\u00fd c\u1ee7a b\u1ea1n. B\u1ea1n s\u1ebd \u1edf b\u00ean h\u1ecd m\u00e3i m\u00e3i. V\u00ec v\u1eady, h\u00e3y ch\u1ecdn m\u1ed9t ng\u01b0\u1eddi th\u00edch b\u1ea1n, hi\u1ec3u nh\u1eefng g\u00ec b\u1ea1n \u0111ang l\u00e0m, \u1ee7ng h\u1ed9 b\u1ea1n v\u00e0 s\u1ebd g\u1eafn b\u00f3 v\u1edbi b\u1ea1n trong c\u1ea3 th\u1eddi \u0111i\u1ec3m thu\u1eadn l\u1ee3i v\u00e0 kh\u00f3 kh\u0103n. Theo quan \u0111i\u1ec3m v\u1ec1 c\u1ea5u tr\u00fac v\u1ed1n c\u1ee7a VC, t\u00f4i ch\u1ecdn c\u00e1c VC v\u1ec1 c\u01a1 b\u1ea3n l\u00e0 nh\u1eefng nh\u00e0 \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n. V\u00e0 cho d\u00f9 h\u1ecd c\u00f3 tho\u00e1t ra trong 5 n\u0103m, 10 n\u0103m hay 15 n\u0103m n\u1eefa hay kh\u00f4ng, theo m\u1ed9t c\u00e1ch n\u00e0o \u0111\u00f3, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng quan tr\u1ecdng \u0111\u1ed1i v\u1edbi h\u1ecd. V\u00e0 do \u0111\u00f3, b\u1ea1n s\u1ebd kh\u00f4ng b\u1ecb \u0111\u1ea9y v\u00e0o t\u00ecnh tr\u1ea1ng tho\u00e1t ra s\u1edbm h\u01a1n mong mu\u1ed1n. V\u00e0 t\u1ea5t nhi\u00ean, nh\u1eefng ng\u01b0\u1eddi \u0111\u00e3 g\u1eafn b\u00f3 l\u00e2u d\u00e0i, nh\u1eefng ng\u01b0\u1eddi c\u00f3 ngu\u1ed3n v\u1ed1n d\u00e0i h\u1ea1n v\u00f4 h\u1ea1n, c\u00f3 l\u1ebd l\u00e0 nh\u1eefng l\u1ef1a ch\u1ecdn t\u1ed1t nh\u1ea5t cho \u0111i\u1ec1u \u0111\u00f3. Benchmark, Sequoia, nh\u1eefng ng\u01b0\u1eddi l\u00e0 nh\u1eefng th\u01b0\u01a1ng hi\u1ec7u c\u00f3 v\u1ed1n cam k\u1ebft d\u00e0i h\u1ea1n cho qu\u1ef9 c\u1ee7a h\u1ecd, h\u1ecd kh\u00f4ng v\u1ed9i v\u00e0ng tho\u00e1t ra. V\u00e0 tr\u00ean th\u1ef1c t\u1ebf, h\u1ecd \u0111\u00e3 chuy\u1ec3n \u0111\u1ed5i qu\u1ef9 c\u1ee7a m\u00ecnh t\u1eeb qu\u1ef9 t\u01b0 nh\u00e2n sang qu\u1ef9 c\u00f4ng t\u01b0, n\u01a1i h\u1ecd c\u00f3 th\u1ec3 n\u1eafm gi\u1eef ch\u1ee9ng kho\u00e1n c\u00f4ng m\u00e3i m\u00e3i. B\u1ea1n bi\u1ebft \u0111\u1ea5y, \u0111\u00f3 l\u00e0 l\u00fd do t\u1ea1i sao Sequoia kh\u00f4ng ph\u1ea3i l\u00e0 IRA. Nh\u01b0ng \u0111i\u1ec1u n\u00e0y c\u00f3 th\u1ef1c s\u1ef1 quan tr\u1ecdng kh\u00f4ng? T\u00f4i ngh\u0129 nh\u00ecn chung l\u00e0 kh\u00f4ng th\u1ef1c s\u1ef1 quan tr\u1ecdng. H\u1ea7u h\u1ebft c\u00e1c VC s\u1ebd l\u00e0m v\u1eady, h\u1ecd s\u1ebd t\u1ef1 t\u00ecm ra c\u1ea5u tr\u00fac v\u1ed1n c\u1ee7a ri\u00eang m\u00ecnh v\u00e0 h\u1ecd \u0111\u1ec3 nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp h\u1ecdp, \u0111\u00fang kh\u00f4ng? Gi\u1ed1ng nh\u01b0 v\u00e0o cu\u1ed1i ng\u00e0y, \u0111i\u1ec1u cu\u1ed1i c\u00f9ng b\u1ea1n mu\u1ed1n l\u00e0m l\u00e0 bu\u1ed9c m\u1ed9t c\u00f4ng ty ph\u1ea3i b\u00e1n qu\u00e1 s\u1edbm v\u00ec n\u00f3 \u0111ang t\u00edch l\u0169y. V\u00e0 v\u00ec v\u1eady t\u00f4i s\u1ebd kh\u00f4ng lo l\u1eafng nhi\u1ec1u nh\u01b0 v\u1eady. V\u00e0 nh\u00e2n ti\u1ec7n, ch\u00fang t\u00f4i t\u1ea1i FJ, l\u00fd do DPI c\u1ee7a ch\u00fang t\u00f4i cao l\u00e0 v\u00ec ch\u00fang t\u00f4i s\u1edf h\u1eefu 2-3% c\u00f4ng ty. Ch\u00fang t\u00f4i c\u00f3 th\u1ec3 \u0111i v\u00e0 mua c\u1ed5 phi\u1ebfu th\u1ee9 c\u1ea5p. Tr\u00ean th\u1ef1c t\u1ebf, r\u1ea5t nhi\u1ec1u VC h\u1ecfi ch\u00fang t\u00f4i, n\u00e0y, b\u1ea1n c\u00f3 phi\u1ec1n b\u00e1n m\u1ed9t ph\u1ea7n v\u1ecb th\u1ebf c\u1ee7a m\u00ecnh kh\u00f4ng? Ch\u00fang t\u00f4i mu\u1ed1n s\u1edf h\u1eefu nhi\u1ec1u h\u01a1n m\u1ed9t ch\u00fat \u0111\u1ed1i v\u1edbi c\u00e1c \u0111\u1ee3t t\u0103ng gi\u00e1. V\u00e0 v\u00ec v\u1eady, nh\u1eefng ng\u01b0\u1eddi s\u00e1ng l\u1eadp th\u1ef1c s\u1ef1 h\u1ecfi ch\u00fang t\u00f4i r\u1eb1ng li\u1ec7u ch\u00fang t\u00f4i c\u00f3 s\u1eb5n l\u00f2ng b\u00e1n kh\u00f4ng.                     \n Fabrice Grinda:\n [15:02]  Nh\u01b0ng n\u1ebfu b\u1ea1n l\u00e0 VC d\u1eabn \u0111\u1ea7u v\u00e0 b\u1ea1n c\u00f3 20% c\u00f4ng ty v\u00e0 b\u1ea1n \u0111ang \u1edf trong h\u1ed9i \u0111\u1ed3ng qu\u1ea3n tr\u1ecb, b\u1ea1n kh\u00f4ng th\u1ec3 th\u1ef1c hi\u1ec7n giao d\u1ecbch th\u1ee9 c\u1ea5p. B\u1edfi v\u00ec n\u1ebfu b\u1ea1n c\u1ed1 b\u00e1n, \u0111\u00f3 l\u00e0 m\u1ed9t t\u00edn hi\u1ec7u ti\u00eau c\u1ef1c. \u1ed2, h\u1ecd bi\u1ebft g\u00ec v\u1ec1 c\u00f4ng ty m\u00e0 ch\u00fang ta kh\u00f4ng bi\u1ebft? V\u00e0 v\u00ec v\u1eady, n\u00f3 s\u1ebd gi\u1ebft ch\u1ebft c\u00f4ng ty. V\u00e0 v\u00ec v\u1eady, c\u00e1ch ti\u1ebfp c\u1eadn \u0111\u00f3 kh\u00f4ng th\u1ef1c s\u1ef1 hi\u1ec7u qu\u1ea3 \u0111\u1ed1i v\u1edbi VC d\u1eabn \u0111\u1ea7u. H\u1ecd c\u1ea7n ph\u1ea3i \u0111\u1ee3i cho \u0111\u1ebfn khi IPO. Tr\u00ean th\u1ef1c t\u1ebf, h\u1ecd th\u1eadm ch\u00ed kh\u00f4ng th\u1ec3 b\u00e1n sau khi kh\u00f3a s\u1ed5 v\u00ec h\u1ecd s\u1edf h\u1eefu qu\u00e1 nhi\u1ec1u c\u00f4ng ty. H\u1ecd \u0111\u00e3 b\u00e1n, gi\u00e1 s\u1ebd s\u1ee5p \u0111\u1ed5. V\u00e0 v\u00ec v\u1eady, \u0111\u1ed1i v\u1edbi VC d\u1eabn \u0111\u1ea7u, h\u1ecd s\u1ebd b\u1ecb kh\u00f3a trong m\u1ed9t th\u1eddi gian d\u00e0i. Ch\u1ec9 nh\u1eefng ng\u01b0\u1eddi nh\u01b0 ch\u00fang ta c\u00f3 t\u1ef7 l\u1ec7 ph\u1ea7n tr\u0103m nh\u1ecf m\u1edbi c\u00f3 th\u1ec3 b\u00e1n khi gi\u00e1 t\u0103ng. Th\u00e0nh th\u1eadt m\u00e0 n\u00f3i, t\u00f4i kh\u00f4ng ngh\u0129 \u0111i\u1ec1u \u0111\u00f3 thay \u0111\u1ed5i nhi\u1ec1u \u0111\u1ed1i v\u1edbi m\u1ed9t ng\u01b0\u1eddi s\u00e1ng l\u1eadp. Ch\u1ec9 c\u1ea7n ch\u1ecdn ng\u01b0\u1eddi \u1ee7ng h\u1ed9 b\u1ea1n v\u00e0 c\u00f3 v\u1ed1n \u0111\u1ec3 theo d\u00f5i. B\u00e2y gi\u1edd, m\u1ed9t \u0111i\u1ec1u m\u00e0 t\u00f4i ngh\u0129 quan tr\u1ecdng h\u01a1n l\u00e0, VC c\u00f3 th\u1ec3 ti\u1ebfp t\u1ee5c h\u1ed7 tr\u1ee3 b\u1ea1n v\u00e0o giai \u0111o\u1ea1n h\u1ea1t gi\u1ed1ng, A, B, C, v.v. kh\u00f4ng? B\u1edfi v\u00ec ch\u00fang ta \u0111ang \u1edf trong m\u1ed9t th\u1ebf gi\u1edbi m\u00e0 b\u00ean ngo\u00e0i AI, v\u1ed1n kh\u00f3 ki\u1ebfm h\u01a1n. V\u00e0 v\u00ec v\u1eady, b\u1ea1n mu\u1ed1n tr\u1edf th\u00e0nh h\u1ea1t gi\u1ed1ng c\u00f3 \u0111\u1ee7 ti\u1ec1n \u0111\u1ec3 h\u1ecd c\u00f3 th\u1ec3 th\u1ef1c hi\u1ec7n v\u00f2ng ng\u01b0\u1ee3c l\u1ea1i. V\u00ec v\u1eady, t\u00f4i s\u1ebd kh\u00f4ng lo l\u1eafng v\u1ec1 \u0111i\u1ec1u \u0111\u00f3 \u1edf h\u1ea1t gi\u1ed1ng \u01b0u ti\u00ean, b\u1edfi v\u00ec trong khi c\u00e1c qu\u1ef9 h\u1ea1t gi\u1ed1ng l\u00e0 qu\u1ef9 h\u1ea1t gi\u1ed1ng, ch\u00fang s\u1ebd kh\u00f4ng th\u1ef1c hi\u1ec7n A c\u1ee7a b\u1ea1n, ch\u00fang kh\u00f4ng c\u00f3 \u0111\u1ee7 v\u1ed1n. Nh\u01b0ng m\u1ed9t khi b\u1ea1n c\u00f3 \u0111\u01b0\u1ee3c c\u00e1c qu\u1ef9 A, r\u1ea5t nhi\u1ec1u qu\u1ef9 l\u00e0 qu\u1ef9 ch\u00e9o v\u00e0 ch\u00fang s\u1ebd th\u1ef1c hi\u1ec7n A v\u00e0 B, v.v. V\u00ec v\u1eady, h\u00e3y ngh\u0129 \u0111\u1ebfn m\u1ed9t l\u00e0n \u0111\u01b0\u1eddng b\u00ean tr\u00e1i. Ch\u00fang s\u1ebd th\u1ef1c hi\u1ec7n A, B, C, v.v. Ho\u1eb7c Andreessen ho\u1eb7c Sequoia. Ngo\u1ea1i l\u1ec7 duy nh\u1ea5t cho \u0111i\u1ec1u \u0111\u00f3 l\u00e0 c\u00e1c qu\u1ef9 A chuy\u00ean d\u1ee5ng tuy\u1ec7t v\u1eddi, nh\u01b0 Benchmark. M\u1eb7c d\u00f9 ch\u00fang kh\u00f4ng nh\u1ea5t thi\u1ebft ph\u1ea3i c\u00f3 v\u1ed1n \u0111\u1ec3 d\u1eabn \u0111\u1ea7u B c\u1ee7a b\u1ea1n, nh\u01b0ng kh\u00f4ng sao c\u1ea3. T\u00f4i v\u1eabn s\u1ebd ch\u1ecdn ch\u00fang. Ch\u00fang th\u1eadt tuy\u1ec7t v\u1eddi.                       \n Fabian Tausch:\n [16:23]  V\u00e0o n\u0103m 2024, b\u1ea1n \u0111\u00e3 th\u1ef1c hi\u1ec7n 100 kho\u1ea3n \u0111\u1ea7u t\u01b0 l\u1ea7n \u0111\u1ea7u v\u1edbi FJ Labs v\u00e0o c\u00e1c c\u00f4ng ty. V\u00e0 do \u0111\u00f3, b\u1ea1n \u0111\u00e3 xem x\u00e9t h\u00e0ng ngh\u00ecn c\u00f4ng ty trong s\u1ed1 \u0111\u00f3, \u0111\u1eb7c bi\u1ec7t l\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng. V\u1eady th\u00ec, hi\u1ec7n t\u1ea1i b\u1ea1n \u0111ang x\u00e1c \u0111\u1ecbnh, nh\u00ecn th\u1ea5y v\u00e0 t\u00ecm ki\u1ebfm nh\u1eefng xu h\u01b0\u1edbng n\u00e0o khi \u0111\u00e1nh gi\u00e1 c\u00e1c doanh nghi\u1ec7p m\u1edbi? Nh\u1eefng \u0111i\u1ec1u g\u00ec \u0111ang xu\u1ea5t hi\u1ec7n ng\u00e0y c\u00e0ng nhi\u1ec1u ngay l\u00fac n\u00e0y m\u00e0 b\u1ea1n ngh\u0129 r\u1eb1ng, n\u00e0y, n\u0103m 2025 c\u00f3 th\u1ec3 l\u00e0 m\u1ed9t c\u01a1 h\u1ed9i v\u00e0 c\u00f3 m\u1ed9t c\u00fa h\u00edch t\u1ed1t v\u00e0o xu h\u01b0\u1edbng n\u00e0y \u0111\u1ed1i v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng?   \n Fabrice Grinda:\n [16:52]  T\u00f4i s\u1ebd t\u00e1ch ra. Tr\u01b0\u1edbc h\u1ebft, ch\u00fang t\u00f4i \u0111\u1ea7u t\u01b0 1% trong s\u1ed1 c\u00e1c giao d\u1ecbch m\u00e0 ch\u00fang t\u00f4i th\u1ea5y. V\u00ec v\u1eady, \u0111\u1ed1i v\u1edbi 100 kho\u1ea3n \u0111\u1ea7u t\u01b0, ch\u00fang t\u00f4i \u0111\u00e3 th\u1ea5y 10.000 giao d\u1ecbch ho\u1eb7c thua l\u1ed7. Nh\u01b0ng t\u1ea5t nhi\u00ean, nhi\u1ec1u giao d\u1ecbch trong s\u1ed1 n\u00e0y n\u1eb1m ngo\u00e0i ph\u1ea1m vi, b\u1ea1n bi\u1ebft \u0111\u1ea5y, s\u1ef1 ph\u00e1t tri\u1ec3n c\u1ee7a ch\u00fang t\u00f4i, v.v. V\u00ec v\u1eady, ch\u00fang t\u00f4i \u0111\u00e3 kh\u00f4ng th\u1ef1c hi\u1ec7n, ch\u00fang t\u00f4i th\u1ef1c hi\u1ec7n c\u00e1c cu\u1ed9c g\u1ecdi trong s\u1ed1 300 cu\u1ed9c g\u1ecdi, c\u00e1c giao d\u1ecbch m\u00e0 ch\u00fang t\u00f4i nh\u1eadn \u0111\u01b0\u1ee3c trong m\u1ed9t tu\u1ea7n, ch\u00fang t\u00f4i th\u1ef1c hi\u1ec7n c\u00e1c cu\u1ed9c g\u1ecdi v\u1edbi 50 giao d\u1ecbch. V\u00e0 sau \u0111\u00f3 ch\u00fang t\u00f4i \u0111\u1ea7u t\u01b0 v\u00e0o ba giao d\u1ecbch. V\u00ec v\u1eady, \u0111\u00f3 l\u00e0 lo\u1ea1i 1%. V\u00ec v\u1eady, ch\u00fang t\u00f4i ch\u1ec9 th\u1ef1c hi\u1ec7n c\u00e1c cu\u1ed9c g\u1ecdi v\u1edbi kho\u1ea3ng m\u1ed9t ph\u1ea7n n\u0103m trong s\u1ed1 \u0111\u00f3. V\u00ec v\u1eady, c\u00f3 th\u1ec3 l\u00e0 2.000. B\u00e2y gi\u1edd, t\u00f4i s\u1ebd chia nh\u1ecf c\u00e1c xu h\u01b0\u1edbng th\u00e0nh hai nh\u00f3m. M\u1ed9t l\u00e0 c\u00e1c xu h\u01b0\u1edbng l\u1edbn, m\u00e0 ch\u00fang t\u00f4i \u0111ang xem nh\u01b0 m\u1ed9t danh m\u1ee5c chung. V\u00e0 sau \u0111\u00f3, gi\u1ed1ng nh\u01b0, t\u1ea1i sao kh\u00f4ng ph\u1ea3i l\u00e0 nh\u1eefng th\u1ee9 th\u00fa v\u1ecb c\u00f3 th\u1ec3 h\u00ecnh th\u00e0nh c\u01a1 s\u1edf cho m\u1ed9t xu h\u01b0\u1edbng l\u1edbn h\u01a1n? V\u00ec v\u1eady, h\u00e3y \u0111\u1ec3 t\u00f4i gi\u1ea3i th\u00edch s\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa hai \u0111i\u1ec1u n\u00e0y. Xu h\u01b0\u1edbng l\u1edbn l\u1edbn m\u00e0 ch\u00fang t\u00f4i \u0111ang xem nh\u01b0 m\u1ed9t danh m\u1ee5c l\u00e0 c\u00e1c th\u1ecb tr\u01b0\u1eddng B2B v\u00e0 s\u1ed1 h\u00f3a chu\u1ed7i cung \u1ee9ng B2B \u0111ang tr\u1edf th\u00e0nh m\u1ed9t xu h\u01b0\u1edbng l\u1edbn. V\u00ec v\u1eady, n\u1ebfu b\u1ea1n ngh\u0129 v\u1ec1 cu\u1ed9c s\u1ed1ng ti\u00eau d\u00f9ng c\u1ee7a m\u00ecnh, b\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t \u0111\u1ed3 \u0103n tr\u00ean DoorDash ho\u1eb7c Uber Eats v\u00e0 b\u1ea1n s\u1ebd nh\u1eadn \u0111\u01b0\u1ee3c n\u00f3 trong v\u00f2ng 15 ph\u00fat. B\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t h\u00e0ng t\u1ea1p h\u00f3a tr\u00ean Instacart. B\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t h\u00e0ng tr\u00ean Amazon. B\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c m\u1ecdi th\u1ee9 trong v\u00f2ng m\u1ed9t \u0111\u1ebfn hai ng\u00e0y ho\u1eb7c th\u1eadm ch\u00ed \u0111\u00f4i khi l\u00e0 c\u00f9ng ng\u00e0y.                 \n Fabrice Grinda:\n [18:07]  B\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t ph\u00f2ng Airbnb. B\u1ea1n c\u00f3 th\u1ec3 g\u1ecdi Uber trong n\u0103m ph\u00fat. B\u1ea1n c\u00f3 th\u1ec3 \u0111\u1eb7t ph\u00f2ng kh\u00e1ch s\u1ea1n tr\u00ean Booking.com. Trong cu\u1ed9c s\u1ed1ng ti\u00eau d\u00f9ng c\u1ee7a b\u1ea1n, qu\u00e1 tr\u00ecnh s\u1ed1 h\u00f3a \u0111\u00e3 di\u1ec5n ra theo c\u00e1ch r\u1ea5t l\u1edbn v\u00e0 c\u00f3 \u00fd ngh\u0129a, v\u00e0 ph\u1ea7n m\u1ec1m \u0111\u00e3 v\u00e0 \u0111ang th\u1ed1ng tr\u1ecb th\u1ebf gi\u1edbi.   \n Fabrice Grinda:\n [18:25]  Tuy nhi\u00ean, trong th\u1ebf gi\u1edbi B2E, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng \u0111\u00fang. V\u00e0 \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng \u0111\u00fang \u1edf c\u1ea3 doanh nghi\u1ec7p l\u1edbn l\u1eabn doanh nghi\u1ec7p v\u1eeba v\u00e0 nh\u1ecf, \u0111\u00fang kh\u00f4ng? Gi\u1ed1ng nh\u01b0, v\u1eady, v\u00e0 t\u00f4i s\u1ebd \u0111\u01b0a ra hai v\u00ed d\u1ee5 ri\u00eang bi\u1ec7t. Doanh nghi\u1ec7p l\u1edbn, gi\u1ed1ng nh\u01b0, n\u1ebfu b\u1ea1n mu\u1ed1n mua h\u00f3a d\u1ea7u, th\u00ec kh\u00f4ng c\u00f3, gi\u1ed1ng nh\u01b0, danh m\u1ee5c c\u00f3 s\u1eb5n v\u1ec1 nh\u1eefng g\u00ec c\u00f3 s\u1eb5n. V\u00ec v\u1eady, t\u00f4i th\u1eadm ch\u00ed kh\u00f4ng n\u00f3i \u0111\u1ebfn Amazon, n\u01a1i b\u1ea1n \u0111\u00e3 c\u00f3 m\u1ed9t danh m\u1ee5c r\u1ed3i. T\u00f4i \u0111ang n\u00f3i \u0111\u1ebfn m\u1ed9t danh s\u00e1ch, ch\u1ec9 l\u00e0 danh s\u00e1ch nh\u1eefng g\u00ec c\u00f3 s\u1eb5n. Sau \u0111\u00f3, kh\u00f4ng c\u00f3 k\u1ebft n\u1ed1i \u0111\u1ebfn nh\u00e0 m\u00e1y \u0111\u1ec3 hi\u1ec3u n\u0103ng l\u1ef1c s\u1ea3n xu\u1ea5t v\u00e0 s\u1ef1 ch\u1eadm tr\u1ec5.       Kh\u00f4ng c\u00f3 \u0111\u1eb7t h\u00e0ng tr\u1ef1c tuy\u1ebfn. Kh\u00f4ng c\u00f3 thanh to\u00e1n tr\u1ef1c tuy\u1ebfn. Kh\u00f4ng c\u00f3 theo d\u00f5i v\u00e0 kh\u00f4ng c\u00f3 t\u00e0i ch\u00ednh. V\u00e0 \u0111i\u1ec1u n\u00e0y c\u1ea7n ph\u1ea3i x\u1ea3y ra trong m\u1ecdi ng\u00e0nh c\u00f4ng nghi\u1ec7p v\u00e0 m\u1ecdi ng\u00e0nh d\u1ecdc v\u00e0 m\u1ecdi danh m\u1ee5c. Ngay b\u00e2y gi\u1edd, ch\u00fang ta c\u00f3 t\u1ef7 l\u1ec7 th\u00e2m nh\u1eadp d\u01b0\u1edbi 5% v\u00e0 th\u01b0\u1eddng l\u00e0 d\u01b0\u1edbi 1% tr\u00ean t\u1ea5t c\u1ea3 nh\u1eefng \u0111i\u1ec1u n\u00e0y. V\u00e0 khi t\u00f4i ngh\u0129 v\u1ec1 nh\u1eefng lo\u1ea1i \u0111\u1ea7u v\u00e0o n\u00e0y, v\u00e0 t\u00f4i mu\u1ed1n n\u00f3i \u0111\u1ebfn \u0111\u1ea7u v\u00e0o \u0111\u01b0\u1ee3c vi\u1ebft l\u1edbn, nh\u01b0 ph\u1ee5 t\u00f9ng \u00f4 t\u00f4, x\u00e2y d\u1ef1ng, h\u00f3a ch\u1ea5t, n\u0103ng l\u01b0\u1ee3ng, nh\u01b0ng n\u00f3 c\u0169ng c\u00f3 th\u1ec3 gi\u1ed1ng nh\u01b0 h\u00e0ng h\u00f3a th\u00e0nh ph\u1ea9m. Kh\u00f4ng c\u00f3 g\u00ec trong s\u1ed1 \u0111\u00f3 \u0111\u01b0\u1ee3c s\u1ed1 h\u00f3a. Th\u1ee9 hai, n\u1ebfu b\u1ea1n ngh\u0129 v\u1ec1 cu\u1ed9c s\u1ed1ng c\u1ee7a ch\u1ee7 s\u1edf h\u1eefu SMB nh\u1ecf b\u00e9 c\u1ee7a b\u1ea1n, gi\u1ed1ng nh\u01b0 m\u1ed9t ch\u1ee7 c\u1eeda h\u00e0ng nh\u1ecf c\u1ee7a m\u1eb9 v\u00e0 con. V\u00ec v\u1eady, h\u00e3y t\u01b0\u1edfng t\u01b0\u1ee3ng b\u1ea1n s\u1edf h\u1eefu m\u1ed9t nh\u00e0 h\u00e0ng. Nh\u1eefng ng\u01b0\u1eddi s\u1edf h\u1eefu nh\u00e0 h\u00e0ng, h\u1ecd th\u00edch l\u00e0m g\u00ec? H\u1ecd th\u00edch n\u1ea5u \u0103n. H\u1ecd th\u00edch tr\u00f2 chuy\u1ec7n v\u1edbi kh\u00e1ch h\u00e0ng. Tuy nhi\u00ean, c\u00f4ng vi\u1ec7c m\u00e0 h\u1ecd ph\u1ea3i l\u00e0m ng\u00e0y h\u00f4m nay l\u00e0 g\u00ec? H\u1ecd c\u1ea7n t\u1ea1o m\u1ed9t trang web. H\u1ecd c\u1ea7n tr\u1ea3 l\u1eddi c\u00e1c b\u00ecnh lu\u1eadn tr\u00ean Google v\u00e0 Yelp v\u00e0 TripAdvisor. H\u1ecd c\u1ea7n c\u00f3 m\u1ed9t POS. H\u1ecd c\u1ea7n l\u00e0m k\u1ebf to\u00e1n. H\u1ecd c\u1ea7n qu\u1ea3n l\u00fd h\u00e0ng t\u1ed3n kho c\u1ee7a m\u00ecnh.                \n Fabrice Grinda:\n [19:42]  H\u1ecd c\u1ea7n ph\u1ea3i l\u00e0m b\u1ea3ng l\u01b0\u01a1ng. H\u1ecd c\u1ea7n \u0111\u00e0m ph\u00e1n v\u1edbi Uber v\u00e0 DoorDash. V\u00e0 do \u0111\u00f3, s\u1ed1 h\u00f3a SMB, b\u1ea1n \u1ea1, t\u1ea5t c\u1ea3 c\u00f4ng vi\u1ec7c m\u00e0 nh\u1eefng anh ch\u00e0ng SMB n\u00e0y kh\u00f4ng th\u00edch l\u00e0m c\u0169ng l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn. V\u00e0 t\u00f4i s\u1ebd cho b\u1ea1n m\u1ed9t v\u00e0i v\u00ed d\u1ee5. Trong SMB, ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 v\u00e0o Slice, gi\u00fap ch\u1ee7 ti\u1ec7m b\u00e1nh pizza qu\u1ea3n l\u00fd to\u00e0n b\u1ed9 v\u0103n ph\u00f2ng ph\u1ee5 tr\u1ee3 c\u1ee7a h\u1ecd. Hi\u1ec7n t\u1ea1i, h\u1ecd c\u00f3 20.000 ti\u1ec7m b\u00e1nh pizza tr\u00ean n\u1ec1n t\u1ea3ng n\u00e0y, doanh s\u1ed1 h\u01a1n m\u1ed9t t\u1ef7 \u0111\u00f4 la, r\u1ea5t c\u00f3 l\u00e3i. Ch\u00fang t\u00f4i c\u00f3 Freshia, c\u00f4ng ty c\u0169ng l\u00e0m nh\u01b0 v\u1eady cho c\u00e1c ti\u1ec7m c\u1eaft t\u00f3c. Ngh\u0129a l\u00e0 c\u00f4ng ty \u0111\u00f3 c\u0169ng l\u00e0m nh\u01b0 v\u1eady cho c\u00e1c ti\u1ec7m gi\u1eb7t l\u00e0 ho\u1eb7c c\u00f4ng ty gi\u1eb7t kh\u00f4. Ch\u00fang t\u00f4i c\u00f3 m\u1ed9t c\u00f4ng ty l\u00e0m nh\u01b0 v\u1eady cho c\u00e1c spa v\u00e0 ph\u00f2ng t\u1eadp yoga n\u00f3i chung, v.v., nh\u1eefng kho\u1ea3nh kh\u1eafc l\u1ea1nh l\u1ebdo, v.v. V\u00ec v\u1eady, ch\u00fang t\u00f4i \u0111ang qu\u1ea3ng c\u00e1o. V\u1ec1 ph\u00eda \u0111\u1ea7u v\u00e0o, ch\u00fang t\u00f4i \u0111ang \u1edf Nodi cho c\u00e1c s\u1ea3n ph\u1ea9m h\u00f3a d\u1ea7u. \u1ede \u0110\u1ee9c, ch\u00fang t\u00f4i \u0111ang \u1edf trong m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 ShootFlix, \u0111\u00e2y l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng ba m\u1eb7t \u0111\u1ec3 l\u1ea5y s\u1ecfi.           \n Fabrice Grinda:\n [20:33]  Ch\u00fang t\u00f4i \u0111ang \u1edf Material Bank, \u00fd t\u00f4i l\u00e0, \u1edf nhi\u1ec1u n\u01a1i kh\u00e1c. V\u00e0 ba xu h\u01b0\u1edbng kh\u00e1c, t\u00f4i mu\u1ed1n n\u00f3i, trong B2B l\u00e0 di chuy\u1ec3n chu\u1ed7i cung \u1ee9ng ra kh\u1ecfi Trung Qu\u1ed1c. T\u00f4i \u0111o\u00e1n xu h\u01b0\u1edbng chung m\u00e0 t\u00f4i g\u1ecdi l\u00e0 French shoring, \u0111\u1eb7c bi\u1ec7t l\u00e0 v\u00e0o \u1ea4n \u0110\u1ed9. V\u00ed d\u1ee5, n\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t \u00f4ng tr\u00f9m \u1edf H&amp;M v\u00e0 b\u1ea1n mu\u1ed1n mua qu\u1ea7n \u00e1o v\u00e0 b\u1ea1n mu\u1ed1n mua \u1edf \u1ea4n \u0110\u1ed9, th\u00ec v\u1ea5n \u0111\u1ec1 l\u00e0 \u1edf \u1ea4n \u0110\u1ed9, c\u00f3 h\u00e0ng ngh\u00ecn nh\u00e0 s\u1ea3n xu\u1ea5t nh\u1ecf l\u1ebb. V\u00e0 nh\u1eefng nh\u00e0 s\u1ea3n xu\u1ea5t nh\u1ecf l\u1ebb n\u00e0y mu\u1ed1n l\u00e0m g\u00ec? H\u1ecd ch\u1ec9 mu\u1ed1n s\u1ea3n xu\u1ea5t. H\u1ecd kh\u00f4ng bi\u1ebft c\u00e1ch nh\u1eadp RFQ. H\u1ecd kh\u00f4ng bi\u1ebft c\u00e1ch l\u1eadp h\u00f3a \u0111\u01a1n, t\u1ea1o m\u1eabu, v.v. V\u00ec v\u1eady, m\u1ed9t th\u1ecb tr\u01b0\u1eddng nh\u01b0 Ziad s\u1ebd l\u00e0m t\u1ea5t c\u1ea3 nh\u1eefng vi\u1ec7c \u0111\u00f3 cho h\u1ecd. V\u00ec v\u1eady, ch\u00fang t\u00f4i \u0111\u00e3 \u0111\u1ea7u t\u01b0 v\u00e0o t\u1ea5t c\u1ea3 c\u00e1c th\u1ecb tr\u01b0\u1eddng n\u00e0y \u0111\u1ec3 gi\u00fap di chuy\u1ec3n chu\u1ed7i cung \u1ee9ng ra kh\u1ecfi Trung Qu\u1ed1c, ch\u1ee7 y\u1ebfu l\u00e0 v\u00e0o \u1ea4n \u0110\u1ed9, nh\u01b0ng r\u00f5 r\u00e0ng l\u00e0 c\u0169ng \u1edf Mexico, Vi\u1ec7t Nam, Philippines, Indonesia, v.v.         \n Fabrice Grinda:\n [21:18]  Th\u1ee9 t\u01b0, c\u00f3 r\u1ea5t nhi\u1ec1u th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng. Ch\u00fang \u0111ang n\u1ed5i l\u00ean \u0111\u1ec3 h\u1ed7 tr\u1ee3 s\u1ef1 gia t\u0103ng c\u1ee7a B2B. V\u00e0 v\u00ec v\u1eady ch\u00fang t\u00f4i \u0111ang \u1edf WorkRise, m\u1ed9t th\u1ecb tr\u01b0\u1eddng cho t\u1ea5t c\u1ea3 c\u00e1c nh\u00e2n vi\u00ean d\u1ecbch v\u1ee5. Ch\u00fang t\u00f4i \u0111ang \u1edf Job and Talent cho c\u00f4ng nh\u00e2n c\u1ed5 xanh \u1edf Ch\u00e2u \u00c2u. Ch\u00fang t\u00f4i \u0111ang \u1edf Trusted Health cho y t\u00e1.    \n Fabrice Grinda:\n [21:39]  V\u00e0 cu\u1ed1i c\u00f9ng nh\u01b0ng kh\u00f4ng k\u00e9m ph\u1ea7n quan tr\u1ecdng, th\u1ef1c ra l\u00e0 hai c\u00e1i n\u1eefa, Recommerce. T\u1ea5t nhi\u00ean, th\u01b0\u01a1ng m\u1ea1i \u0111i\u1ec7n t\u1eed hi\u1ec7n \u0111ang r\u1ea5t l\u1edbn trong l\u0129nh v\u1ef1c ti\u00eau d\u00f9ng, v\u00e0 n\u00f3 th\u1ef1c s\u1ef1 \u0111ang ti\u1ebfn v\u00e0o th\u1ebf gi\u1edbi B2B, v\u1eeba \u0111\u1ec3 gi\u1ea3m chi ph\u00ed v\u1eeba v\u00ec l\u00fd do xanh. V\u00ec v\u1eady, ch\u00fang t\u00f4i l\u00e0 m\u1ed9t c\u00f4ng ty \u0111\u1ea7u t\u01b0 c\u00f3 t\u00ean l\u00e0 Ghost, cho ph\u00e9p b\u1ea1n mua h\u00e0ng t\u1ed3n kho d\u01b0 th\u1eeba. V\u00ec v\u1eady, b\u1ea1n l\u00e0 m\u1ed9t c\u1eeda h\u00e0ng nh\u1ecf v\u00e0 b\u1ea1n c\u00f3 th\u1ec3 mua qu\u1ea7n \u00e1o v\u1edbi m\u1ee9c gi\u1ea3m gi\u00e1 90% t\u1eeb h\u00e0ng t\u1ed3n kho d\u01b0 th\u1eeba t\u1eeb c\u00e1c th\u01b0\u01a1ng hi\u1ec7u l\u1edbn h\u01a1n, sau \u0111\u00f3 b\u1ea1n c\u00f3 th\u1ec3 b\u00e1n ch\u00fang. V\u00e0 theo l\u1ecbch s\u1eed, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng t\u1ed3n t\u1ea1i v\u00ec c\u00e1c c\u1eeda h\u00e0ng n\u00e0y kh\u00f4ng th\u1ec3 mua m\u1ed9t tri\u1ec7u s\u1ea3n ph\u1ea9m. Nh\u01b0ng gi\u1edd \u0111\u00e2y b\u1ea1n c\u00f3 th\u1ec3 mua kho\u1ea3ng 10 ngh\u00ecn \u0111\u01a1n h\u00e0ng v\u00e0 khi\u1ebfn n\u00f3 ho\u1ea1t \u0111\u1ed9ng, nh\u01b0ng \u00edt nh\u1ea5t l\u00e0 c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng h\u1ed7 tr\u1ee3 t\u1ea5t c\u1ea3 nh\u1eefng \u0111i\u1ec1u n\u00e0y, v\u00ec v\u1eady c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng thanh to\u00e1n nh\u01b0 stripe ho\u1eb7c c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng robot t\u1ef1 \u0111\u1ed9ng h\u00f3a nhanh ch\u00f3ng, c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng robot h\u00f3a r\u1ea5t ch\u00ednh th\u1ed1ng gi\u00fap m\u1ecdi ng\u01b0\u1eddi t\u1ef1 \u0111\u1ed9ng h\u00f3a ho\u1eb7c h\u00ecnh dung ra robot trong c\u00e1c nh\u00e0 m\u00e1y thay th\u1ebf lao \u0111\u1ed9ng c\u1ee7a con ng\u01b0\u1eddi v\u00e0 ch\u00fang \u0111ang \u1edf bmw t\u1ea1i \u0111\u1ee9c thay th\u1ebf kho\u1ea3ng 250 ngh\u00ecn th\u1ee3 m\u00e1y b\u1eb1ng m\u1ed9t robot 90 ngh\u00ecn n\u0103m l\u00e0m vi\u1ec7c 20 gi\u1edd m\u1ed9t ng\u00e0y v\u00e0 sau \u0111\u00f3 c\u00f3 c\u00e1c c\u00f4ng ty v\u1eadn chuy\u1ec3n nh\u01b0 Flexport, ShipBob, Shippo v\u00e0 th\u1eadm ch\u00ed c\u00e1c c\u00f4ng ty xuy\u00ean bi\u00ean gi\u1edbi m\u00e0 ch\u00fang t\u00f4i \u0111\u1ea7u t\u01b0 v\u00e0o, nh\u01b0 Portless. V\u00ec v\u1eady, t\u1ea5t c\u1ea3 nh\u1eefng \u0111i\u1ec1u \u0111\u00f3 gi\u1ed1ng nh\u01b0 c\u00e1c xu h\u01b0\u1edbng l\u1edbn trong B2B. B\u00e2y gi\u1edd, ngo\u00e0i c\u00e1c xu h\u01b0\u1edbng n\u00e0y trong B2B,       \n Fabrice Grinda:\n [22:50]  Ch\u00fang ta \u0111ang th\u1ea5y m\u1ed9t s\u1ed1 c\u00f4ng ty th\u00fa v\u1ecb \u0111ang l\u00e0m nh\u1eefng \u0111i\u1ec1u cho th\u1ea5y r\u1eb1ng c\u00f2n nhi\u1ec1u \u0111i\u1ec1u n\u1eefa s\u1ebd x\u1ea3y ra. V\u00ec v\u1eady, c\u00e1c xu h\u01b0\u1edbng l\u1edbn kh\u00e1c tr\u00ean th\u1ecb tr\u01b0\u1eddng, ch\u1eb3ng h\u1ea1n nh\u01b0 th\u01b0\u01a1ng m\u1ea1i xuy\u00ean bi\u00ean gi\u1edbi cu\u1ed1i c\u00f9ng c\u0169ng tr\u1edf th\u00e0nh hi\u1ec7n th\u1ef1c. H\u00e3y ngh\u0129 \u0111\u1ebfn Vinted. L\u00fd do Vinted tr\u1edf n\u00ean th\u00e0nh c\u00f4ng \u1edf nhi\u1ec1u qu\u1ed1c gia nh\u01b0 v\u1eady, th\u1ef1c t\u1ebf l\u00e0 h\u1ecd&#8230; Quay tr\u1edf l\u1ea1i th\u1eddi \u0111i\u1ec3m b\u1ea1n c\u00f3 c\u00e1c trang rao v\u1eb7t nh\u01b0 eBay, Klein &amp; Zagen, Klein &amp; Zagen ch\u1ec9 c\u00f3 danh s\u00e1ch \u1edf \u0110\u1ee9c. V\u00e0 Le Boncoin ch\u1ec9 c\u00f3 danh s\u00e1ch \u1edf Ph\u00e1p. V\u00e0 b\u1ea1n kh\u00f4ng v\u1eadn chuy\u1ec3n qua c\u00e1c qu\u1ed1c gia, v.v. Nh\u01b0ng v\u1ec1 c\u01a1 b\u1ea3n, Vinted d\u1ecbch c\u00e1c danh s\u00e1ch, d\u1ecbch c\u00e1c cu\u1ed9c tr\u00f2 chuy\u1ec7n gi\u1eefa nh\u1eefng ng\u01b0\u1eddi d\u00f9ng th\u00e0nh v\u1eadn chuy\u1ec3n xuy\u00ean bi\u00ean gi\u1edbi t\u00edch h\u1ee3p v\u00e0 t\u00edch h\u1ee3p thanh to\u00e1n xuy\u00ean bi\u00ean gi\u1edbi, do \u0111\u00f3, h\u1ecd \u0111\u00e3 t\u1ea1o ra l\u1ea7n \u0111\u1ea7u ti\u00ean m\u1ed9t th\u1ecb tr\u01b0\u1eddng to\u00e0n ch\u00e2u \u00c2u th\u1ef1c s\u1ef1. H\u1ecd \u0111\u00e3 t\u1ea1o ra m\u1ed9t th\u1ecb tr\u01b0\u1eddng \u1edf ch\u00e2u \u00c2u khi\u1ebfn ch\u00e2u \u00c2u tr\u00f4ng gi\u1ed1ng nh\u01b0 Hoa K\u1ef3. V\u00e0 n\u00f3 \u0111\u01b0\u1ee3c t\u00edch h\u1ee3p ho\u00e0n to\u00e0n, m\u1ed9t ng\u00f4n ng\u1eef, m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7, m\u1ed9t t\u1ea5t c\u1ea3 m\u1ecdi th\u1ee9, nh\u01b0ng th\u1ef1c s\u1ef1 \u0111ang di\u1ec5n ra. N\u00f3 ho\u00e0n to\u00e0n d\u1ec5 s\u1eed d\u1ee5ng. T\u00f4i th\u00edch n\u00f3. V\u00e2ng, v\u00e0 h\u1ecd \u0111ang l\u00e0m r\u1ea5t t\u1ed1t, ph\u1ea3i kh\u00f4ng? Gi\u1ed1ng nh\u01b0 c\u00f3 kho\u1ea3ng 6 t\u1ef7 trong GMB.             \n Fabrice Grinda:\n [23:47]  T\u00f4i ngh\u0129 h\u1ecd c\u00f3 l\u1ee3i nhu\u1eadn kh\u1ed5ng l\u1ed3 \u1edf Anh v\u00e0 Ch\u00e2u \u00c2u. R\u1ea5t l\u1edbn. V\u00e0 \u0111i\u1ec1u n\u00e0y \u0111ang x\u1ea3y ra \u1edf c\u00e1c danh m\u1ee5c kh\u00e1c. V\u00ec v\u1eady, ch\u00fang t\u00f4i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 Ovoco, m\u1ed9t th\u1ecb tr\u01b0\u1eddng ph\u1ee5 t\u00f9ng \u00f4 t\u00f4 c\u1ee7a Litva, t\u00ecm ngu\u1ed3n cung \u1ee9ng ph\u1ee5 t\u00f9ng \u00f4 t\u00f4 \u1edf \u0110\u00f4ng \u00c2u, nh\u01b0 \u1edf Ba Lan v\u00e0 Litva, v.v. V\u00e0 h\u1ecd \u0111ang b\u00e1n \u1edf nh\u1eefng n\u01a1i nh\u01b0 Ph\u00e1p. Ho\u00e0n to\u00e0n \u00e1p \u0111\u1ea3o. V\u00ec v\u1eady, xuy\u00ean bi\u00ean gi\u1edbi \u0111ang tr\u1edf th\u00e0nh hi\u1ec7n th\u1ef1c, \u0111\u1eb7c bi\u1ec7t l\u00e0 \u1edf Ch\u00e2u \u00c2u. Ch\u00e2u \u00c2u cu\u1ed1i c\u00f9ng c\u0169ng b\u1eaft \u0111\u1ea7u gi\u1ed1ng nh\u01b0 Hoa K\u1ef3. Xu h\u01b0\u1edbng l\u1edbn ti\u1ebfp theo l\u00e0 th\u01b0\u01a1ng m\u1ea1i tr\u1ef1c ti\u1ebfp. B\u00e2y gi\u1edd, t\u1ea1i Trung Qu\u1ed1c, tr\u00ean Taobao, gi\u1ed1ng nh\u01b0 eBay c\u1ee7a Trung Qu\u1ed1c, n\u1ebfu b\u1ea1n mu\u1ed1n, 25% doanh s\u1ed1 \u0111\u1ebfn t\u1eeb ph\u00e1t tr\u1ef1c ti\u1ebfp video. \u1ede Hoa K\u1ef3, \u0111i\u1ec1u n\u00e0y ch\u1ec9 x\u1ea3y ra \u1edf m\u1ed9t danh m\u1ee5c, \u0111\u00f3 l\u00e0 \u0111\u1ed3 s\u01b0u t\u1ea7m. C\u00f3 m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 WhatNot m\u00e0 ch\u00fang t\u00f4i kh\u00f4ng ph\u1ea3i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0. H\u1ecd v\u1eeba huy \u0111\u1ed9ng \u0111\u01b0\u1ee3c m\u1ee9c \u0111\u1ecbnh gi\u00e1 kho\u1ea3ng 5 t\u1ef7 \u0111\u00f4 la.            \n Fabrice Grinda:\n [24:32]  Nh\u01b0ng \u0111\u1ed1i v\u1edbi \u0111\u1ed3 s\u01b0u t\u1ea7m, n\u00f3 c\u00f3 v\u1ebb h\u1ee3p l\u00fd. Nh\u01b0ng gi\u1edd \u0111\u00e2y n\u00f3 \u0111ang di\u1ec5n ra \u1edf c\u00e1c ng\u00e0nh d\u1ecdc kh\u00e1c. V\u00ec v\u1eady, ch\u00fang t\u00f4i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 Palm Street. V\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, \u0111\u00f3 l\u00e0 nh\u1eefng ng\u01b0\u1eddi ti\u00eau d\u00f9ng chuy\u00ean nghi\u1ec7p trong c\u00e1c c\u1eeda h\u00e0ng nh\u1ecf b\u00e1n c\u00e2y qu\u00fd hi\u1ebfm. V\u00e0 h\u1ecd th\u1ef1c hi\u1ec7n hai lu\u1ed3ng m\u1ed7i tu\u1ea7n, h\u1ecd b\u00e1n \u0111\u01b0\u1ee3c kho\u1ea3ng m\u01b0\u1eddi ngh\u00ecn \u0111\u00f4 la ti\u1ec1n c\u00e2y m\u1ed7i th\u00e1ng, nh\u1eefng ng\u01b0\u1eddi ph\u1ee5 n\u1eef h\u1ecd mua nh\u1eefng th\u1ee9 n\u00e0y chi kho\u1ea3ng 1800 \u0111\u00f4 la m\u1ed7i s\u00e1u th\u00e1ng v\u00e0 th\u1eadt tuy\u1ec7t v\u1eddi v\u00ec m\u1ecdi ng\u01b0\u1eddi \u0111ang k\u1ec3 c\u00e2u chuy\u1ec7n v\u1ec1 ngu\u1ed3n g\u1ed1c c\u1ee7a c\u00e2y ho\u1eb7c b\u1ea1n ch\u0103m s\u00f3c n\u00f3, v.v. v\u00e0 n\u00f3 t\u1ea1o ra m\u1ed9t tr\u1ea3i nghi\u1ec7m phong ph\u00fa, v\u00ec v\u1eady mua s\u1eafm video tr\u1ef1c ti\u1ebfp cu\u1ed1i c\u00f9ng c\u0169ng \u0111ang \u0111\u1ebfn ph\u01b0\u01a1ng T\u00e2y v\u00e0 c\u00f4ng ty n\u00e0y ho\u00e0n to\u00e0n l\u00e0m ch\u1ee7 n\u00f3, v\u00ec v\u1eady t\u00f4i c\u00f3 th\u1ec3 t\u01b0\u1edfng t\u01b0\u1ee3ng c\u00e1c danh m\u1ee5c kh\u00e1c hi\u1ec7n \u0111ang t\u1ef1 m\u1edf r\u1ed9ng \u1edf c\u00e1c danh m\u1ee5c kh\u00e1c, tinh th\u1ec3 s\u1eaft v\u00e0 \u0111\u1ed3 g\u1ed1m qu\u00fd hi\u1ebfm, v.v. Sau \u0111\u00f3, ch\u00fang t\u00f4i \u0111ang ch\u1ee9ng ki\u1ebfn s\u1ef1 ra \u0111\u1eddi c\u1ee7a c\u00e1c ng\u00e0nh d\u1ecdc m\u1edbi. Ch\u00fang t\u00f4i \u0111ang \u1edf m\u1ed9t c\u00f4ng ty c\u1ee7a Ph\u00e1p c\u00f3 t\u00ean l\u00e0 Alpaga v\u00e0 h\u1ecd \u0111ang t\u1ea1o ra&#8230;      \n Fabrice Grinda:\n [25:21]  H\u1ecd l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng thi\u1ebft b\u1ecb nh\u00e0 h\u00e0ng B2B. V\u00e0 \u0111i\u1ec1u th\u00fa v\u1ecb l\u00e0 tr\u01b0\u1edbc \u0111\u00e2y n\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t nh\u00e0 h\u00e0ng, b\u1ea1n s\u1ebd ph\u1ea3i mua thi\u1ebft b\u1ecb m\u1edbi. Nh\u00e0 h\u00e0ng s\u1ebd th\u01b0\u1eddng xuy\u00ean ph\u00e1 s\u1ea3n. V\u00e0 sau \u0111\u00f3 h\u1ecd thay \u0111\u1ed5i m\u00f3n \u0103n, v.v. H\u1ecd c\u00f3 nh\u1eefng thi\u1ebft b\u1ecb n\u00e0y. H\u1ecd kh\u00f4ng th\u1ec3 b\u00e1n ch\u00fang v\u00ec n\u00f3 r\u1ea5t phi\u1ec1n ph\u1ee9c. B\u1ea1n kh\u00f4ng th\u1ec3 v\u1eadn chuy\u1ec3n ch\u00fang. V\u00e0 vi\u1ec7c l\u1eafp \u0111\u1eb7t c\u0169ng kh\u00f3 kh\u0103n h\u01a1n. V\u00ec v\u1eady, nh\u1eefng g\u00ec h\u1ecd \u0111\u00e3 l\u00e0m l\u00e0 x\u00e2y d\u1ef1ng m\u1ed9t m\u1ea1ng l\u01b0\u1edbi c\u00e1c nh\u00e0 cung c\u1ea5p d\u1ecbch v\u1ee5, \u0111\u01a1n v\u1ecb v\u1eadn chuy\u1ec3n v\u00e0 \u0111\u01a1n v\u1ecb l\u1eafp \u0111\u1eb7t. V\u00e0 b\u00e2y gi\u1edd th\u1ecb tr\u01b0\u1eddng ho\u1ea1t \u0111\u1ed9ng. V\u00e0 h\u1ecd \u0111\u00e3 gieo m\u1ea7m cho n\u00f3 b\u1eb1ng ngu\u1ed3n cung t\u1eeb c\u00e1c kh\u00e1ch s\u1ea1n, b\u1ebfp kh\u00e1ch s\u1ea1n nh\u01b0 Marriott, v.v. V\u00ec v\u1eady, vi\u1ec7c th\u00eam m\u1ed9t l\u1edbp d\u1ecbch v\u1ee5 v\u00e0o c\u00e1c danh m\u1ee5c hi\u1ec7n c\u00f3 c\u00f3 th\u1ec3 t\u1ea1o ra m\u1ed9t th\u1ecb tr\u01b0\u1eddng t\u1eeb \u0111\u1ea7u. V\u00ec v\u1eady, ch\u00fang ta c\u0169ng th\u1ea5y \u0111i\u1ec1u \u0111\u00f3 trong nh\u1eefng th\u1ee9 nh\u01b0, t\u00f4i \u0111o\u00e1n v\u1eady, xanh h\u00f3a l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn m\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u mu\u1ed1n xanh h\u00f3a ng\u00f4i nh\u00e0 c\u1ee7a h\u1ecd. Nh\u01b0ng theo truy\u1ec1n th\u1ed1ng, n\u1ebfu b\u1ea1n mu\u1ed1n xanh h\u00f3a ng\u00f4i nh\u00e0 c\u1ee7a m\u00ecnh, b\u1ea1n \u0111\u1ebfn m\u1ed9t n\u01a1i nh\u01b0 Thumbtack, b\u1ea1n c\u1ea7n thu\u00ea, b\u1ea1n t\u00ecm nh\u00e0 th\u1ea7u, h\u1ecd b\u00e1o gi\u00e1 cho b\u1ea1n v\u00e0 ch\u00fang t\u00f4i s\u1ebd l\u1eafp \u0111\u1eb7t m\u00e1y b\u01a1m nhi\u1ec7t. R\u1ea5t ph\u1ee9c t\u1ea1p. b\u1ea1n c\u1ea7n qu\u1ea3n l\u00fd kho\u1ea3ng 20 gi\u00e1 th\u1ea7u v\u00e0 sau \u0111\u00f3 b\u1ea1n th\u01b0\u1eddng b\u1ecb l\u1eeba khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 l\u00e0 m\u1ed9t c\u00f4ng ty c\u00f3 t\u00ean l\u00e0 tetra v\u00e0 v\u1ec1 c\u01a1 b\u1ea3n ch\u1ee5p m\u1ed9t v\u00e0i b\u1ee9c \u1ea3nh v\u1ec1 h\u1ec7 th\u1ed1ng c\u1ee7a b\u1ea1n v\u00e0 h\u1ecd gi\u1ed1ng nh\u01b0 \u0111\u00e2y l\u00e0 nh\u00e0 cung c\u1ea5p \u0111\u00e2y l\u00e0 gi\u00e1 v\u00e0 h\u1ecd l\u00e0m \u0111i\u1ec1u \u0111\u00f3 cho b\u1ea1n v\u00e0 \u0111i\u1ec1u t\u01b0\u01a1ng t\u1ef1 h\u1ecd \u0111\u00e3 th\u00eam m\u1ed9t l\u1edbp d\u1ecbch v\u1ee5 v\u00e0o m\u1ed9t n\u1ebfu kh\u00f4ng th\u00ec v\u00e0o m\u1ed9t th\u1ecb tr\u01b0\u1eddng b\u00e1n b\u1ea1n \u0111ang c\u00e0i \u0111\u1eb7t hi\u1ec7u qu\u1ea3 nhi\u1ec7t ho\u1eb7c hi\u1ec7u qu\u1ea3 n\u0103ng l\u01b0\u1ee3ng v\u00e0 h\u1ecd \u0111ang nghi\u1ec1n n\u00e1t n\u00f3 v\u00ec v\u1eady t\u00f4i \u0111o\u00e1n l\u00e0 vi\u1ec7c th\u00eam c\u00e1c d\u1ecbch v\u1ee5 \u0111\u1ec3 th\u1ef1c hi\u1ec7n c\u00e1c giao d\u1ecbch C\u00e1c h\u00e0nh \u0111\u1ed9ng ph\u1ee9c t\u1ea1p, \u0111\u01a1n gi\u1ea3n, l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn kh\u00e1c. V\u00e0 t\u00f4i \u0111o\u00e1n t\u00f4i s\u1ebd cho b\u1ea1n bi\u1ebft th\u00eam m\u1ed9t v\u00e0i xu h\u01b0\u1edbng n\u1eefa. C\u00e1c m\u00f4 h\u00ecnh kinh doanh m\u1edbi \u0111ang n\u1ed5i l\u00ean. Ch\u00fang t\u00f4i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t c\u00f4ng ty \u1edf Ph\u00e1p c\u00f3 t\u00ean l\u00e0 La Bourse Olive, \u0111\u00e2y l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng s\u00e1ch.                  \n Fabrice Grinda:\n [26:49]  V\u00e0 \u0111i\u1ec1u \u0111\u1ed9c \u0111\u00e1o \u1edf \u0111\u00e2y l\u00e0 h\u1ecd l\u1ea5y 90% hoa h\u1ed3ng t\u1eeb vi\u1ec7c b\u00e1n s\u00e1ch. V\u00e0 b\u1ea1n t\u1ef1 h\u1ecfi, t\u1ea1i sao ai \u0111\u00f3 l\u1ea1i s\u1eb5n s\u00e0ng cho \u0111i 90% hoa h\u1ed3ng? V\u00e0 \u0111\u00f3 l\u00e0 v\u00ec thay v\u00ec l\u00e0m vi\u1ec7c \u0111\u1ec3 t\u1ed1i \u0111a h\u00f3a gi\u00e1, h\u1ecd \u0111ang t\u1ed1i \u0111a h\u00f3a hi\u1ec7u qu\u1ea3. N\u1ebfu b\u1ea1n l\u00e0 cha m\u1eb9 m\u1edbi, b\u1ea1n c\u00f3 r\u1ea5t nhi\u1ec1u s\u00e1ch. v\u00e0 \u0111\u1ebfn cu\u1ed1i ng\u00e0y, b\u1ea1n kh\u00f4ng c\u00f3 \u0111\u1ee7 ch\u1ed7 cho ch\u00fang. V\u00ec v\u1eady, b\u1ea1n c\u00f3 th\u1ec3 b\u00e1n ch\u00fang t\u1eebng c\u00e1i m\u1ed9t tr\u00ean Amazon, nh\u01b0ng \u0111i\u1ec1u \u0111\u00f3 th\u1eadt phi\u1ec1n ph\u1ee9c. B\u1ea1n c\u1ea7n qu\u00e9t, li\u1ec7t k\u00ea, b\u00e1n \u0111\u01b0\u1ee3c, b\u1ea1n c\u1ea7n v\u1eadn chuy\u1ec3n. \u1ede \u0111\u00e2y, v\u1ec1 c\u01a1 b\u1ea3n, b\u1ea1n s\u1ebd cho t\u1ea5t c\u1ea3 s\u00e1ch v\u00e0o m\u1ed9t h\u1ed9p, b\u1ea1n g\u1eedi cho h\u1ecd, th\u1ebf l\u00e0 xong. V\u00e0 b\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c 10% t\u00edn d\u1ee5ng \u0111\u1ec3 mua nh\u1eefng cu\u1ed1n s\u00e1ch kh\u00e1c. V\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, trong v\u00f2ng m\u1ed9t n\u0103m, h\u1ecd tr\u1edf th\u00e0nh ng\u01b0\u1eddi b\u00e1n s\u00e1ch c\u0169 h\u00e0ng \u0111\u1ea7u t\u1ea1i Ph\u00e1p v\u1edbi t\u1ef7 l\u1ec7 l\u1ea5y h\u00e0ng l\u00e0 90%. Th\u1eadt l\u00e0 kinh t\u1ebf tuy\u1ec7t v\u1eddi, kinh doanh tuy\u1ec7t v\u1eddi, t\u1eadp trung v\u00e0o s\u1ef1 ti\u1ec7n l\u1ee3i. V\u00ec v\u1eady, m\u1ed9t l\u1ea7n n\u1eefa, ch\u00fang ta \u0111ang th\u1ea5y nh\u1eefng xu h\u01b0\u1edbng ho\u1eb7c c\u00e1ch th\u1ee9c m\u1edbi \u0111\u1ec3 t\u1ea5n c\u00f4ng c\u00e1c danh m\u1ee5c hi\u1ec7n c\u00f3 b\u1eb1ng c\u00e1ch th\u00eam c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ti\u1ebfp c\u1eadn v\u00e0 s\u1ef1 ti\u1ec7n l\u1ee3i m\u1edbi. AI \u0111ang b\u1eaft \u0111\u1ea7u xu\u1ea5t hi\u1ec7n v\u00e0 t\u00f4i s\u1ebd \u0111\u01b0a ra cho b\u1ea1n hai v\u00ed d\u1ee5 v\u1ec1 AI, sau \u0111\u00f3 t\u00f4i s\u1ebd d\u1eebng l\u1ea1i \u1edf ph\u1ea7n xu h\u01b0\u1edbng.            \n Fabrice Grinda:\n [27:46]  AI, r\u00f5 r\u00e0ng l\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u s\u1eed d\u1ee5ng AI \u0111\u1ec3 ch\u0103m s\u00f3c kh\u00e1ch h\u00e0ng v\u00e0 m\u1ecdi ng\u01b0\u1eddi \u0111\u1ec1u s\u1eed d\u1ee5ng AI \u0111\u1ec3 c\u1ea3i thi\u1ec7n n\u0103ng su\u1ea5t c\u1ee7a l\u1eadp tr\u00ecnh vi\u00ean. Trong c\u00e1c th\u1ecb tr\u01b0\u1eddng, n\u01a1i ch\u00fang ta th\u1ea5y AI \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng nhi\u1ec1u nh\u1ea5t l\u00e0 \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh l\u1ea1i quy tr\u00ecnh ni\u00eam y\u1ebft, \u0111\u00fang kh\u00f4ng? V\u00ec v\u1eady, n\u1ebfu b\u1ea1n mu\u1ed1n b\u00e1n tr\u00ean eBay, b\u1ea1n c\u1ea7n ph\u1ea3i c\u00f3 \u0111i\u1ec7n tho\u1ea1i. B\u1ea1n ch\u1ee5p m\u1ed9t lo\u1ea1t \u1ea3nh, b\u1ea1n vi\u1ebft ti\u00eau \u0111\u1ec1, b\u1ea1n vi\u1ebft m\u00f4 t\u1ea3, b\u1ea1n ch\u1ecdn danh m\u1ee5c, b\u1ea1n nh\u1eadp gi\u00e1, sau \u0111\u00f3 b\u1ea1n \u0111\u1ee3i m\u1ed9t ho\u1eb7c hai tu\u1ea7n v\u00e0 sau \u0111\u00f3 n\u00f3 s\u1ebd \u0111\u01b0\u1ee3c b\u00e1n   \n Fabrice Grinda:\n [28:13]  M\u00f4 h\u00ecnh m\u1edbi l\u00e0 c\u00f3 m\u1ed9t c\u00f4ng ty ch\u00fang t\u00f4i \u0111\u1ea7u t\u01b0 t\u1ea1i Hoa K\u1ef3 c\u00f3 t\u00ean l\u00e0 Hero Stuff. B\u1ea1n ch\u1ee5p m\u1ed9t v\u00e0i b\u1ee9c \u1ea3nh v\u00e0 t\u1ea1o m\u1ed9t video m\u00f4 t\u1ea3 s\u1ea3n ph\u1ea9m. V\u00e0 v\u1edbi AI, h\u1ecd chuy\u1ec3n \u0111\u1ed5i m\u00f4 t\u1ea3 c\u1ee7a b\u1ea1n th\u00e0nh danh s\u00e1ch \u0111\u1ea7y \u0111\u1ee7. V\u00e0 h\u1ecd th\u1ef1c s\u1ef1 ch\u1ecdn gi\u00e1, danh m\u1ee5c, ti\u00eau \u0111\u1ec1, m\u00f4 t\u1ea3. H\u1ecd t\u1ea1o m\u1ed9t video TikTok d\u00e0i 15 gi\u00e2y m\u00e0 b\u1ea1n c\u00f3 th\u1ec3 m\u1ea1o hi\u1ec3m tr\u00ean m\u1ea1ng x\u00e3 h\u1ed9i c\u1ee7a m\u00ecnh. V\u00e0 h\u1ecd ni\u00eam y\u1ebft n\u00f3 tr\u00ean eBay, Facebook Marketplace, v.v. C\u00f3 t\u00ean l\u00e0 Hero Stuff. v\u00e0 ch\u00fang t\u00f4i \u0111ang th\u1ea5y nh\u1eefng ng\u01b0\u1eddi \u0111\u01b0\u01a1ng nhi\u1ec7m hi\u1ec7n t\u1ea1i s\u1eed d\u1ee5ng d\u1eef li\u1ec7u c\u1ee7a h\u1ecd \u0111\u1ec3 t\u00e1i t\u1ea1o quy tr\u00ecnh ni\u00eam y\u1ebft. V\u00ec v\u1eady, ch\u00fang t\u00f4i l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ea1i m\u1ed9t th\u1ecb tr\u01b0\u1eddng c\u00f3 t\u00ean l\u00e0 Rebag trong t\u00fai x\u00e1ch. V\u00e0 nh\u1eefng g\u00ec h\u1ecd \u0111\u00e3 l\u00e0m l\u00e0 h\u1ecd \u0111\u00e3 t\u1ea1o ra AI n\u00e0y c\u00f3 t\u00ean l\u00e0 Claire v\u00ec h\u1ecd c\u00f3 t\u1ea5t c\u1ea3 d\u1eef li\u1ec7u. B\u1ea1n ch\u1ee5p m\u1ed9t v\u00e0i b\u1ee9c \u1ea3nh v\u00e0 h\u1ecd n\u00f3i v\u1edbi b\u1ea1n, \u0111\u01b0\u1ee3c r\u1ed3i, chi\u1ebfc t\u00fai n\u00e0y l\u00e0 th\u1eadt. M\u1eabu t\u00fai n\u00e0y t\u1eeb n\u0103m nay trong t\u00ecnh tr\u1ea1ng n\u00e0y c\u00f3 b\u00e1n \u0111\u01b0\u1ee3c v\u1edbi gi\u00e1 n\u00e0y kh\u00f4ng? B\u00f9m, b\u1ea1n nh\u1ea5p v\u00e0 n\u00f3 \u0111\u01b0\u1ee3c b\u00e1n. Gi\u1ed1ng nh\u01b0 m\u1ed9t ph\u00fat b\u1ea1n \u0111\u00e3 b\u00e1n chi\u1ebfc t\u00fai c\u1ee7a m\u00ecnh v\u00ec h\u1ecd s\u1ebd mua cho b\u1ea1n v\u1edbi gi\u00e1 th\u1ecb tr\u01b0\u1eddng, \u0111i\u1ec1u \u0111\u00f3 th\u1eadt tuy\u1ec7t v\u1eddi. V\u00e0 v\u00ec v\u1eady, ch\u00fang ta \u0111ang th\u1ea5y nh\u1eefng xu h\u01b0\u1edbng m\u1edbi trong AI \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 c\u1ea3i thi\u1ec7n hi\u1ec7u qu\u1ea3 c\u1ee7a th\u1ecb tr\u01b0\u1eddng. V\u00e2ng, r\u1ea5t nhi\u1ec1u xu h\u01b0\u1edbng tuy\u1ec7t v\u1eddi, th\u00fa v\u1ecb. V\u00e0 v\u00e2ng, t\u00f4i hy v\u1ecdng \u0111\u00e2y s\u1ebd l\u00e0 kh\u1edfi \u0111\u1ea7u v\u00e0 nhi\u1ec1u h\u01a1n n\u1eefa \u0111\u1ec3 m\u1edf r\u1ed9ng. V\u00ec v\u1eady, th\u01b0\u01a1ng m\u1ea1i tr\u1ef1c ti\u1ebfp s\u1ebd \u0111\u1ebfn v\u1edbi c\u00e1c danh m\u1ee5c kh\u00e1c. Xuy\u00ean bi\u00ean gi\u1edbi s\u1ebd t\u1ed3n t\u1ea1i ngo\u00e0i hai v\u00ed d\u1ee5 t\u00f4i \u0111\u00e3 \u0111\u01b0a ra. C\u00e1c m\u00f4 h\u00ecnh kinh doanh m\u1edbi, n\u01a1i b\u1ea1n c\u00f3 th\u1ec3 c\u00f3 t\u1ef7 l\u1ec7 ti\u1ebfp nh\u1eadn cao h\u01a1n b\u1eb1ng c\u00e1ch th\u00eam c\u00e1c d\u1ecbch v\u1ee5 \u1edf \u0111\u00f3 v\u00e0 t\u1eadp trung v\u00e0o s\u1ef1 ti\u1ec7n l\u1ee3i s\u1ebd n\u1ed5i l\u00ean h\u00e0ng \u0111\u1ea7u.                   \n Fabrice Grinda:\n [29:36]  V\u00e0 vi\u1ec7c th\u00eam c\u00e1c d\u1ecbch v\u1ee5 s\u1ebd m\u1edf ra c\u00e1c danh m\u1ee5c m\u1edbi m\u00e0 tr\u01b0\u1edbc \u0111\u00e2y qu\u00e1 \u0111au \u0111\u1edbn \u0111\u1ec3 giao d\u1ecbch. V\u00e0 \u0111\u00f3 l\u00e0 nh\u1eefng xu h\u01b0\u1edbng l\u1edbn b\u00ean ngo\u00e0i xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng B2B, m\u00e0 nh\u01b0 t\u00f4i \u0111\u00e3 m\u00f4 t\u1ea3 l\u00e0 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn. V\u00e0 ch\u00fang ta \u0111ang \u1edf ng\u00e0y \u0111\u1ea7u ti\u00ean. V\u00ec v\u1eady, s\u1ebd m\u1ea5t 10 n\u0103m \u0111\u1ec3 t\u1ea5t c\u1ea3 nh\u1eefng \u0111i\u1ec1u n\u00e0y di\u1ec5n ra.   \n Fabian Tausch:\n [29:52]  R\u1ea5t nhi\u1ec1u th\u1ee9 x\u1ea3y ra c\u00f9ng m\u1ed9t l\u00fac. V\u00ec v\u1eady, m\u1ed9t \u0111i\u1ec1u m\u00e0 b\u1ea1n \u0111\u00e3 \u0111\u1ec1 c\u1eadp l\u00e0 m\u1ecdi ng\u01b0\u1eddi c\u0169ng s\u1eed d\u1ee5ng AI \u0111\u1ec3 n\u00e2ng cao l\u1eadp tr\u00ecnh v\u00e0 \u1edf \u0111\u00e2y v\u00e0 \u1edf \u0111\u00f3. L\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 n\u0103ng su\u1ea5t t\u0103ng l\u00ean m\u00e0 AI mang l\u1ea1i cho vi\u1ec7c x\u00e2y d\u1ef1ng c\u00f4ng ty \u1edf \u0111\u00e2y v\u00e0 n\u00e2ng cao vi\u1ec7c x\u00e2y d\u1ef1ng s\u1ea3n ph\u1ea9m v\u00e0 m\u1ecdi th\u1ee9 kh\u00e1c, l\u00e0m th\u1ebf n\u00e0o \u0111\u1ec3 b\u1ea1n x\u00e2y d\u1ef1ng kh\u1ea3 n\u0103ng ph\u00f2ng th\u1ee7 nh\u01b0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng khi giao s\u1ea3n ph\u1ea9m v\u00e0 MVP \u0111\u1ea7u ti\u00ean v\u00e0 thi\u1ebft l\u1eadp m\u1ecdi th\u1ee9, \u0111\u1ed9ng l\u1ef1c c\u1ee7a vi\u1ec7c x\u00e2y d\u1ef1ng kh\u1ea3 n\u0103ng ph\u00f2ng th\u1ee7 thay \u0111\u1ed5i nh\u01b0 th\u1ebf n\u00e0o do AI?  \n Fabrice Grinda:\n [30:31]  Trong 25 n\u0103m qua, \u0111\u00e3 c\u00f3 m\u1ed9t xu h\u01b0\u1edbng l\u1edbn v\u1ec1 chi ph\u00ed x\u00e2y d\u1ef1ng c\u00f4ng ty, r\u00e0o c\u1ea3n gia nh\u1eadp \u0111ang gi\u1ea3m d\u1ea7n. Khi t\u00f4i x\u00e2y d\u1ef1ng c\u00f4ng ty \u0111\u1ea7u ti\u00ean c\u1ee7a m\u00ecnh, t\u00f4i c\u1ea7n c\u00f3 c\u01a1 s\u1edf d\u1eef li\u1ec7u Oracle v\u00e0 m\u00e1y ch\u1ee7 web Microsoft.  T\u00f4i c\u1ea7n x\u00e2y d\u1ef1ng trung t\u00e2m d\u1eef li\u1ec7u c\u1ee7a ri\u00eang m\u00ecnh. Kh\u00f4ng c\u00f3 AWS, nh\u01b0ng c\u0169ng kh\u00f4ng c\u00f3 Rackspace. V\u00e0 sau \u0111\u00f3 ch\u00fang ta c\u00f3 m\u00e3 ngu\u1ed3n m\u1edf, MySQL&#8230; V\u00e0 php r\u1ed3i ch\u00fang ta c\u00f3 \u0111i\u1ec7n to\u00e1n \u0111\u00e1m m\u00e2y v\u00e0 b\u1ea1n c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng aws v\u00e0 v\u00e0 v\u00e0 b\u00e2y gi\u1edd v\u1edbi cu\u1ed9c c\u00e1ch m\u1ea1ng ai m\u1edbi, b\u1ea1n kh\u00f4ng c\u00f3 m\u00e3, m\u00e3 th\u1ea5p ho\u1eb7c m\u00e3 h\u1ed7 tr\u1ee3 ai, trong \u0111\u00f3 chi ph\u00ed kh\u1edfi ch\u1ea1y m\u1ed9t c\u00f4ng ty kh\u1edfi nghi\u1ec7p r\u1ebb h\u01a1n v\u00e0 th\u1ea5p h\u01a1n bao gi\u1edd h\u1ebft, \u0111i\u1ec1u \u0111\u00f3 n\u00f3i r\u1eb1ng vi\u1ec7c x\u00e2y d\u1ef1ng n\u1ec1n t\u1ea3ng c\u00f4ng ngh\u1ec7 th\u1ef1c s\u1ef1 ch\u01b0a bao gi\u1edd l\u00e0 m\u1ee5c nh\u1eadp c\u1eb1n c\u1ed7i v\u00e0o c\u00e1c th\u1ecb tr\u01b0\u1eddng, b\u1ea3n th\u00e2n s\u1ea3n ph\u1ea9m r\u1ea5t d\u1ec5 sao ch\u00e9p, b\u1ea1n c\u00f3 th\u1ec3 v\u00e0 tr\u00ean th\u1ef1c t\u1ebf, h\u1ea7u h\u1ebft c\u00e1c th\u1ecb tr\u01b0\u1eddng c\u1ee7a ch\u00fang t\u00f4i th\u01b0\u1eddng ra m\u1eaft tr\u00ean shopify, ng\u01b0\u1eddi ti\u00eau d\u00f9ng tr\u00ean ng\u01b0\u1eddi ti\u00eau d\u00f9ng, n\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng h\u01b0\u1edbng \u0111\u1ebfn ng\u01b0\u1eddi ti\u00eau d\u00f9ng, ph\u00eda mua c\u1ee7a th\u1ecb tr\u01b0\u1eddng, b\u1ea1n c\u0169ng c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng shopify, h\u1ecd c\u00f3 t\u1ea5t c\u1ea3 c\u00e1c c\u00f4ng c\u1ee5, gi\u00e1 r\u1ebb, d\u1ec5 d\u00e0ng, h\u1ecd c\u00f3 th\u1ec3 nh\u00fang m\u1ecdi th\u1ee9 b\u1ea1n c\u1ea7n, t\u1eeb theo d\u00f5i, th\u1eed nghi\u1ec7m thu\u1ed9c t\u00ednh, m\u1ecdi th\u1ee9 \u0111\u1ec1u c\u00f3 s\u1eb5n, ph\u1ea3n h\u1ed3i, b\u1ea1n c\u00f3 th\u1ec3 d\u1ec5 d\u00e0ng c\u00f3 \u0111\u01b0\u1ee3c \u1ee9ng d\u1ee5ng di \u0111\u1ed9ng, v\u00ec v\u1eady, \u0111\u00f3 lu\u00f4n l\u00e0 m\u1ed9t lo\u1ea1i h\u00e0ng h\u00f3a,  \n Fabian Tausch:\n [31:44]  Th\u1eadt bu\u1ed3n c\u01b0\u1eddi l\u00e0 t\u00f4i ch\u01b0a bao gi\u1edd ngh\u0129 v\u1ec1 \u0111i\u1ec1u \u0111\u00f3 nh\u01b0ng \u0111i\u1ec1u \u0111\u00f3 c\u00f3 l\u00fd.\n Fabrice Grinda:\n [31:46]  V\u00e2ng, v\u00ec v\u1eady khi b\u1ea1n ra m\u1eaft m\u1ed9t th\u1ecb tr\u01b0\u1eddng, kh\u00f4ng c\u00f3 h\u00e0o n\u01b0\u1edbc, s\u1ea3n ph\u1ea9m l\u00e0 h\u00e0o n\u01b0\u1edbc th\u1ef1c s\u1ef1 l\u00e0 t\u00ednh thanh kho\u1ea3n, \u0111\u00f3 l\u00e0 qu\u00e1 tr\u00ecnh th\u1ef1c hi\u1ec7n c\u1ee7a b\u1ea1n, \u0111\u00f3 l\u00e0 t\u00ecm ng\u01b0\u1eddi mua v\u00e0 ng\u01b0\u1eddi b\u00e1n, \u0111\u00f3 l\u00e0 c\u00f3 nps cao, \u0111\u00f3 l\u00e0 s\u1ef1 k\u1ebft h\u1ee3p hi\u1ec7u qu\u1ea3 gi\u1eefa h\u1ecd, \u0111\u00f3 l\u00e0 t\u1ea1o ra b\u00e1nh \u0111\u00e0 \u1edf b\u1ea5t c\u1ee9 n\u01a1i n\u00e0o c\u00f3 nhi\u1ec1u ng\u01b0\u1eddi mua h\u01a1n mang \u0111\u1ebfn nhi\u1ec1u ng\u01b0\u1eddi b\u00e1n h\u01a1n v\u00e0 nhi\u1ec1u ng\u01b0\u1eddi b\u00e1n h\u01a1n mang \u0111\u1ebfn nhi\u1ec1u ng\u01b0\u1eddi mua h\u01a1n, \u0111\u00f3 l\u00e0 th\u01b0\u01a1ng hi\u1ec7u m\u00e0 b\u1ea1n x\u00e2y d\u1ef1ng, \u0111\u00f3 l\u00e0 h\u00e0o n\u01b0\u1edbc, \u0111\u00f3 l\u00e0 qu\u00e1 tr\u00ecnh th\u1ef1c hi\u1ec7n th\u1ef1c t\u1ebf, b\u1ea3n th\u00e2n s\u1ea3n ph\u1ea9m kh\u00f4ng ph\u1ea3i l\u00e0 h\u00e0o n\u01b0\u1edbc theo b\u1ea5t k\u1ef3 c\u00e1ch n\u00e0o, h\u00ecnh d\u1ea1ng n\u00e0o, v\u00ec n\u00f3 c\u00f3 th\u1ec3 sao ch\u00e9p \u0111\u01b0\u1ee3c. V\u00e0 \u0111i\u1ec1u n\u00e0y \u0111ang tr\u1edf th\u00e0nh s\u1ef1 th\u1eadt trong m\u1ecdi chi\u1ec1u d\u1ecdc, v\u1ec1 c\u01a1 b\u1ea3n, n\u01a1i b\u1ea5t k\u1ef3 s\u1ea3n ph\u1ea9m n\u00e0o c\u0169ng c\u00f3 th\u1ec3 sao ch\u00e9p \u0111\u01b0\u1ee3c. Ch\u00ednh qu\u00e1 tr\u00ecnh th\u1ef1c hi\u1ec7n c\u1ee7a b\u1ea1n l\u00e0 quan tr\u1ecdng nh\u1ea5t. \u0110\u00f3 l\u00e0 l\u00fd do t\u1ea1i sao c\u00e1c \u00fd t\u01b0\u1edfng c\u00f3 m\u1ed9t s\u1ed1 gi\u00e1 tr\u1ecb, nh\u01b0ng kh\u00f4ng c\u00f3 nhi\u1ec1u gi\u00e1 tr\u1ecb nh\u01b0 v\u1eady. Th\u1ef1c s\u1ef1 th\u00ec qu\u00e1 tr\u00ecnh th\u1ef1c hi\u1ec7n c\u00f3 t\u1ea5t c\u1ea3 gi\u00e1 tr\u1ecb.    \n Fabian Tausch:\n [32:25]  V\u1eady b\u1ea1n s\u1ebd n\u00f3i g\u00ec v\u1ec1 nh\u1eefng \u0111i\u1ec1u c\u1ea7n thi\u1ebft \u0111\u1ec3, v\u00e0 t\u00f4i ngh\u0129 b\u1ea1n \u0111\u00e3 \u0111\u1ec1 c\u1eadp \u0111\u1ebfn nhi\u1ec1u ch\u1ee7 \u0111\u1ec1 r\u1ed3i, nh\u01b0ng t\u00f4i r\u1ea5t mu\u1ed1n \u0111\u01b0a ch\u00fang l\u1ea1i v\u1edbi nhau m\u1ed9t l\u1ea7n n\u1eefa, \u0111\u1ec3 x\u00e2y d\u1ef1ng th\u01b0\u01a1ng hi\u1ec7u tr\u1edf th\u00e0nh s\u1ed1 m\u1ed9t, \u0111\u1ec3 x\u00e2y d\u1ef1ng ph\u01b0\u01a1ng th\u1ee9c cung v\u00e0 c\u1ea7u v\u00e0 th\u1ef1c s\u1ef1 tr\u1edf th\u00e0nh th\u1ecb tr\u01b0\u1eddng s\u1ed1 m\u1ed9t trong ng\u00e0nh m\u00e0 t\u00f4i \u0111ang ho\u1ea1t \u0111\u1ed9ng?\n Fabrice Grinda:\n [32:45]  B\u1ea1n c\u1ea7n l\u00e0m h\u00e0i l\u00f2ng kh\u00e1ch h\u00e0ng c\u1ee7a m\u00ecnh. V\u00e0 v\u00ec v\u1eady, t\u00f4i s\u1ebd b\u1eaft \u0111\u1ea7u ngay t\u1eeb \u0111\u1ea7u b\u1eb1ng c\u00e1ch th\u01b0\u1eddng xuy\u00ean \u0111\u1ebfn ngu\u1ed3n cung. V\u00e0 t\u00f4i s\u1ebd l\u1ea5y r\u1ea5t nhi\u1ec1u, v\u00e0 l\u00fd do b\u1ea1n \u0111\u1ebfn ngu\u1ed3n cung l\u00e0 h\u1ecd c\u00f3 \u0111\u1ed9ng l\u1ef1c t\u00e0i ch\u00ednh \u0111\u1ec3 tham gia n\u1ec1n t\u1ea3ng. V\u00ec v\u1eady, b\u1ea1n \u0111\u1ebfn ngu\u1ed3n cung t\u1ed1t nh\u1ea5t v\u00e0 b\u1ea1n n\u00f3i v\u1edbi h\u1ecd, h\u00e3y xem, ch\u00fang t\u00f4i \u0111ang ra m\u1eaft m\u1ed9t th\u1ecb tr\u01b0\u1eddng m\u1edbi. Ch\u00fang t\u00f4i ch\u01b0a c\u00f3 nhi\u1ec1u kh\u00e1ch h\u00e0ng, nh\u01b0ng ch\u00fang t\u00f4i \u0111\u01b0\u1ee3c t\u1ef1 do tham gia. B\u1ea1n c\u00f3 mu\u1ed1n ni\u00eam y\u1ebft kh\u00f4ng? M\u1ecdi ng\u01b0\u1eddi s\u1ebd n\u00f3i c\u00f3. V\u00ec v\u1eady, tr\u00ean th\u1ef1c t\u1ebf, sai l\u1ea7m l\u1edbn nh\u1ea5t m\u00e0 b\u1ea1n c\u00f3 th\u1ec3 m\u1eafc ph\u1ea3i l\u00e0 tham gia qu\u00e1 nhi\u1ec1u ngu\u1ed3n cung. Tr\u00ean th\u1ef1c t\u1ebf, b\u1ea1n ch\u1ec9 l\u1ea5y ngu\u1ed3n cung r\u1ea5t h\u1ea1n ch\u1ebf. Sau \u0111\u00f3, b\u1ea1n th\u1eed nghi\u1ec7m m\u1ed9t lo\u1ea1t c\u00e1c k\u00eanh ti\u1ebfp th\u1ecb. C\u00f3 th\u1ec3 l\u00e0 m\u1ed9t nh\u00f3m b\u00e1n h\u00e0ng, c\u00f3 th\u1ec3 l\u00e0 Google, c\u00f3 th\u1ec3 l\u00e0 Tech Talk, \u0111i\u1ec1u \u0111\u00f3 kh\u00f4ng quan tr\u1ecdng. V\u00e0 b\u1ea1n mang \u0111\u1ebfn cho h\u1ecd nhu c\u1ea7u v\u00e0 b\u1ea1n ph\u00f9 h\u1ee3p v\u1edbi h\u1ecd.           \n Fabrice Grinda:\n [33:21]  V\u00e0 v\u1ec1 c\u01a1 b\u1ea3n, t\u00f9y thu\u1ed9c v\u00e0o danh m\u1ee5c, n\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng h\u00e0ng \u0111\u00e3 qua s\u1eed d\u1ee5ng, b\u1ea1n mu\u1ed1n x\u00e1c su\u1ea5t b\u00e1n \u0111\u01b0\u1ee3c m\u1eb7t h\u00e0ng \u0111\u00f3 \u00edt nh\u1ea5t l\u00e0 25%. N\u1ebfu b\u1ea1n l\u00e0 m\u1ed9t th\u1ecb tr\u01b0\u1eddng d\u1ecbch v\u1ee5, b\u1ea1n mu\u1ed1n \u0111\u1ea1i di\u1ec7n cho \u00edt nh\u1ea5t 25% doanh thu c\u1ee7a ngu\u1ed3n cung. Nh\u01b0ng b\u1ea1n mu\u1ed1n l\u00e0m h\u1ecd h\u00e0i l\u00f2ng. V\u00e0 b\u1ea1n mu\u1ed1n NPS r\u1ea5t cao \u1edf c\u1ea3 ph\u00eda cung v\u00e0 ph\u00eda c\u1ea7u, th\u01b0\u1eddng l\u00e0 b\u1eb1ng c\u00e1ch c\u00f3 m\u1ed9t s\u1ed1 c\u1ea5p \u0111\u1ed9 qu\u1ea3n l\u00fd v\u00e0 l\u1edbp d\u1ecbch v\u1ee5 \u0111\u1ea3m b\u1ea3o r\u1eb1ng c\u1ea3 hai \u0111\u1ec1u r\u1ea5t h\u00e0i l\u00f2ng. Khi b\u1ea1n \u0111\u00e3 l\u00e0m \u0111\u01b0\u1ee3c \u0111i\u1ec1u \u0111\u00f3 v\u00e0 h\u1ecd h\u00e0i l\u00f2ng, v\u00e0 NPS c\u1ee7a b\u1ea1n cao, v\u00e0 ng\u01b0\u1eddi b\u00e1n v\u00e0 ng\u01b0\u1eddi mua \u0111\u1ec1u h\u00e0i l\u00f2ng, b\u1ea1n th\u00eam m\u1ed9t v\u00e0i ng\u01b0\u1eddi b\u00e1n n\u1eefa, r\u1ed3i b\u1ea1n th\u00eam m\u1ed9t v\u00e0i ng\u01b0\u1eddi mua n\u1eefa, v\u00e0 b\u1ea1n ti\u1ebfp t\u1ee5c m\u1edf r\u1ed9ng quy m\u00f4 song song. V\u00e0 th\u00f4ng th\u01b0\u1eddng, \u0111i\u1ec1u \u0111\u00f3 s\u1ebd kh\u1edfi \u0111\u1ed9ng b\u00e1nh \u0111\u00e0, n\u01a1i \u0111\u1ed9t nhi\u00ean, b\u1ea1n c\u00f3 \u0111\u01b0\u1ee3c hi\u1ec7u \u1ee9ng m\u1ea1ng l\u01b0\u1edbi, n\u01a1i m\u00e0 ng\u00e0y c\u00e0ng c\u00f3 nhi\u1ec1u ng\u01b0\u1eddi mua h\u01a1n, n\u01a1i ng\u01b0\u1eddi b\u00e1n mang l\u1ea1i, n\u01a1i ng\u01b0\u1eddi b\u00e1n mang l\u1ea1i, n\u01a1i ng\u01b0\u1eddi mua nhi\u1ec1u h\u01a1n. V\u00e0 b\u1ea1n bi\u1ebft m\u00ecnh c\u00f3 b\u00e1nh \u0111\u00e0 khi CAC c\u1ee7a b\u1ea1n b\u1eaft \u0111\u1ea7u gi\u1ea3m. Nhi\u1ec1u trong s\u1ed1 nh\u1eefng c\u00e1i g\u1ecdi l\u00e0 th\u1ecb tr\u01b0\u1eddng n\u00e0y kh\u00f4ng ph\u1ea3i l\u00e0 th\u1ecb tr\u01b0\u1eddng v\u00ec nh\u1eefng g\u00ec x\u1ea3y ra l\u00e0 h\u1ecd chi r\u1ea5t nhi\u1ec1u ti\u1ec1n \u0111\u1ec3 mua ng\u01b0\u1eddi b\u00e1n v\u00e0 ng\u01b0\u1eddi mua. H\u1ecd m\u1edf r\u1ed9ng quy m\u00f4 c\u00e0ng nhi\u1ec1u th\u00ec CAC c\u1ee7a h\u1ecd c\u00e0ng t\u0103ng. \u0110i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 h\u1ecd kh\u00f4ng c\u00f3 hi\u1ec7u \u1ee9ng m\u1ea1ng l\u01b0\u1edbi. \u0110i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 v\u1ec1 c\u01a1 b\u1ea3n c\u00f3 \u0111i\u1ec1u g\u00ec \u0111\u00f3 kh\u00f4ng ho\u1ea1t \u0111\u1ed9ng. V\u00e0 t\u00f4i mu\u1ed1n n\u1ec1n kinh t\u1ebf c\u00f4ng \u0111o\u00e0n ph\u1ea3i th\u1ef1c s\u1ef1 t\u1ed1t. Nh\u01b0ng \u00fd t\u01b0\u1edfng chung l\u00e0 b\u1ea1n l\u00e0m h\u00e0i l\u00f2ng nh\u1eefng kh\u00e1ch h\u00e0ng \u0111\u1ea7u ti\u00ean c\u1ee7a m\u00ecnh v\u00e0 b\u1ea1n ti\u1ebfp t\u1ee5c x\u00e2y d\u1ef1ng cho h\u1ecd, \u0111\u1ea3m b\u1ea3o r\u1eb1ng h\u1ecd h\u00e0i l\u00f2ng, kh\u00f4ng ch\u1ec9 \u00e1p d\u1ee5ng cho c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u00e0 th\u1eb3ng th\u1eafn m\u00e0 n\u00f3i, cho m\u1ecdi c\u00f4ng ty kh\u1edfi nghi\u1ec7p. B\u00e2y gi\u1edd, c\u00e1ch b\u1ea1n b\u1eaft \u0111\u1ea7u trong c\u00e1c th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 kh\u00e1c nhau t\u00f9y thu\u1ed9c v\u00e0o th\u1ecb tr\u01b0\u1eddng b\u1ea1n \u0111ang tham gia. C\u00f3 th\u1ec3 b\u1ea1n c\u1ea7n ph\u1ea3i \u1edf m\u1ed9t m\u00e3 b\u01b0u ch\u00ednh, nh\u01b0ng c\u00f3 th\u1ec3 b\u1ea1n l\u00e0 m\u1ed9t s\u1ea3n ph\u1ea9m qu\u1ed1c gia, ph\u1ea3i kh\u00f4ng? V\u1eady b\u1ea1n s\u1ebd th\u1ef1c hi\u1ec7n nh\u01b0 th\u1ebf n\u00e0o               \n Fabrice Grinda:\n [34:45]  \u0110\u1ea7u ti\u00ean, r\u00f5 r\u00e0ng l\u00e0 n\u1ebfu b\u1ea1n \u0111ang \u1edf trong m\u1ed9t danh m\u1ee5c d\u1ecbch v\u1ee5, b\u1ea1n c\u00f3 th\u1ec3 c\u1ea7n ph\u1ea3i si\u00eau \u0111\u1ecba ph\u01b0\u01a1ng. N\u1ebfu b\u1ea1n \u0111ang b\u00e1n h\u00e0ng \u0111\u00e3 qua s\u1eed d\u1ee5ng, c\u00f3 th\u1ec3 kh\u00f4ng, \u0111\u1eb7c bi\u1ec7t l\u00e0 n\u1ebfu ch\u00fang c\u00f3 th\u1ec3 v\u1eadn chuy\u1ec3n \u0111\u01b0\u1ee3c. V\u00ec v\u1eady, \u0111i\u1ec1u \u0111\u00f3 th\u1ef1c s\u1ef1 ph\u1ee5 thu\u1ed9c. Nh\u01b0ng tr\u1ecdng t\u00e2m v\u00e0 l\u00e0m h\u00e0i l\u00f2ng kh\u00e1ch h\u00e0ng c\u1ee7a b\u1ea1n v\u00e0 \u0111\u1ea3m b\u1ea3o r\u1eb1ng h\u1ecd \u0111ang nh\u00ecn th\u1ea5y ng\u01b0\u1eddi b\u00e1n c\u1ee7a h\u1ecd, h\u1ecd \u0111ang nh\u00ecn th\u1ea5y nhu c\u1ea7u. V\u00e0 n\u1ebfu h\u1ecd l\u00e0 ng\u01b0\u1eddi mua, h\u1ecd th\u1ea5y \u0111\u1ee7 nh\u1eefng g\u00ec h\u1ecd mu\u1ed1n \u0111\u1ec3 h\u1ecd c\u00f3 th\u1ec3 giao d\u1ecbch \u1edf \u0111\u00e2y.    \n Fabian Tausch:\n [35:06]  Ng\u00e0y nay, khi t\u00f4i b\u1eaft \u0111\u1ea7u m\u1ed9t th\u1ecb tr\u01b0\u1eddng, r\u00e0o c\u1ea3n \u0111\u1ea7u ti\u00ean m\u00e0 t\u00f4i c\u00f3 th\u1ec3 g\u1eb7p ph\u1ea3i l\u00e0 g\u00ec?\n Fabrice Grinda:\n [35:14]  Cho d\u00f9 l\u00e0 ng\u00e0y nay hay 20 n\u0103m tr\u01b0\u1edbc, r\u00e0o c\u1ea3n \u0111\u1ea7u ti\u00ean m\u00e0 b\u1ea1n g\u1eb7p ph\u1ea3i l\u00e0 v\u1ea5n \u0111\u1ec1 con g\u00e0 v\u00e0 qu\u1ea3 tr\u1ee9ng, \u0111\u00f3 l\u00e0 t\u00f4i c\u00f3 trang web tuy\u1ec7t v\u1eddi n\u00e0y, tr\u1ea3i nghi\u1ec7m ng\u01b0\u1eddi d\u00f9ng tuy\u1ec7t v\u1eddi, nh\u01b0ng t\u00f4i kh\u00f4ng c\u00f3 g\u00ec c\u1ea3. T\u00f4i kh\u00f4ng c\u00f3 ng\u01b0\u1eddi mua v\u00e0 t\u00f4i kh\u00f4ng c\u00f3 ng\u01b0\u1eddi b\u00e1n. T\u00f4i n\u00ean b\u1eaft \u0111\u1ea7u v\u1edbi ai? V\u00e0 khuy\u1ebfn ngh\u1ecb c\u1ee7a t\u00f4i trong 99% tr\u01b0\u1eddng h\u1ee3p l\u00e0 b\u1eaft \u0111\u1ea7u v\u1edbi ng\u01b0\u1eddi b\u00e1n v\u00ec h\u1ecd c\u00f3 \u0111\u1ed9ng l\u1ef1c t\u00e0i ch\u00ednh \u0111\u1ec3 tham gia n\u1ec1n t\u1ea3ng. N\u1ebfu h\u1ecd \u1edf \u0111\u00f3, h\u1ecd s\u1ebd ki\u1ebfm \u0111\u01b0\u1ee3c ti\u1ec1n. Nh\u01b0ng t\u00f4i s\u1ebd, nh\u01b0 t\u00f4i \u0111\u00e3 n\u00f3i, \u0111\u01b0\u1ee3c tuy\u1ec3n ch\u1ecdn k\u1ef9 l\u01b0\u1ee1ng, \u0111\u1ebfn v\u1edbi nh\u1eefng ng\u01b0\u1eddi gi\u1ecfi nh\u1ea5t s\u1ebd tham gia, nh\u1eefng ng\u01b0\u1eddi vui v\u1ebb th\u1eed nghi\u1ec7m, nh\u1eefng ng\u01b0\u1eddi s\u1ebd tr\u1ea3 l\u1eddi y\u00eau c\u1ea7u t\u1eeb ng\u01b0\u1eddi mua v\u00e0 l\u00e0m h\u1ecd h\u00e0i l\u00f2ng. C\u00f4ng b\u1eb1ng.      \n Fabian Tausch:\n [35:48]  V\u1ec1 th\u1eddi gian, t\u00f4i ngh\u0129 \u0111\u00f3 l\u00e0 m\u1ed9t t\u1eadp phim quan s\u00e1t r\u1ea5t s\u1eafc n\u00e9t, r\u1ea5t d\u00e0y \u0111\u1eb7c v\u1edbi r\u1ea5t nhi\u1ec1u xu h\u01b0\u1edbng m\u00e0 b\u1ea1n c\u00f3 th\u1ec3 \u0111\u00e0o s\u00e2u h\u01a1n khi b\u1ea1n ngh\u0129 v\u1ec1 ch\u00fang gi\u1ed1ng nh\u01b0, \u0111i\u1ec1u \u0111\u00f3 c\u00f3 \u00fd ngh\u0129a. T\u00f4i c\u00f3 th\u1ec3 ch\u1ecdn m\u1ed9t s\u1ed1 \u00fd t\u01b0\u1edfng t\u1eeb \u0111\u00e2y v\u00e0 s\u1eed d\u1ee5ng n\u00f3 cho doanh nghi\u1ec7p th\u1ecb tr\u01b0\u1eddng c\u1ee7a ri\u00eang m\u00ecnh v\u00e0 x\u00e2y d\u1ef1ng tr\u00ean \u0111\u00f3 v\u00ec t\u00f4i c\u00f3 th\u1ec3 xem x\u00e9t c\u00e1c ng\u00e0nh kh\u00e1c nhau. V\u00ec v\u1eady, v\u00e0 t\u00f4i bi\u1ebft b\u1ea1n c\u0169ng \u0111\u00e3 th\u1ef1c hi\u1ec7n m\u1ed9t t\u1eadp phim v\u1ec1 xu h\u01b0\u1edbng th\u1ecb tr\u01b0\u1eddng tr\u00ean podcast c\u1ee7a ri\u00eang b\u1ea1n, t\u00f4i s\u1ebd li\u00ean k\u1ebft n\u00f3 b\u00ean d\u01b0\u1edbi, do \u0111\u00f3, n\u1ebfu b\u1ea5t k\u1ef3 ai kh\u00f4ng th\u1ec3 c\u00f3 \u0111\u1ee7 t\u1eeb b\u1ea1n, v\u00ec v\u1eady t\u00f4i li\u00ean k\u1ebft linkedin c\u1ee7a b\u1ea1n v\u00e0 t\u1ea5t nhi\u00ean l\u00e0 fj labs v\u00e0 podcast c\u1ee7a b\u1ea1n, c\u00f3 nhi\u1ec1u t\u1eadp kh\u00e1c m\u00e0 b\u1ea1n n\u00ean nghe t\u1ea5t c\u1ea3, v\u00ed d\u1ee5 nh\u01b0 t\u1eadp phim v\u1ec1 gia c\u00f4ng ngo\u00e0i m\u00e0 t\u00f4i th\u1ef1c s\u1ef1 th\u00edch, v\u00ec v\u1eady fabrice, th\u1eadt l\u00e0 m\u1ed9t ni\u1ec1m vui, c\u1ea3m \u01a1n b\u1ea1n \u0111\u00e3 chia s\u1ebb t\u1ea5t c\u1ea3 nh\u1eefng hi\u1ec3u bi\u1ebft v\u00e0 suy ngh\u0129 c\u1ee7a b\u1ea1n v\u1ec1 th\u1ecb tr\u01b0\u1eddng v\u00e0o n\u0103m 2025 v\u00e0 mong s\u1edbm \u0111\u01b0\u1ee3c g\u1eb7p l\u1ea1i b\u1ea1n.  \n Fabrice Grinda:\n [36:37]  C\u1ea3m \u01a1n b\u1ea1n \u0111\u00e3 m\u1eddi t\u00f4i.\n ","Category":["Ch\u1ee3","Ph\u1ecfng v\u1ea5n &amp; Tr\u00f2 chuy\u1ec7n b\u00ean l\u00f2 s\u01b0\u1edfi"],"_links":{"self":[{"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/posts\/51484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/comments?post=51484"}],"version-history":[{"count":1,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/posts\/51484\/revisions"}],"predecessor-version":[{"id":51486,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/posts\/51484\/revisions\/51486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/media\/51467"}],"wp:attachment":[{"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/media?parent=51484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/categories?post=51484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/grinda.org\/vi\/wp-json\/wp\/v2\/tags?post=51484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}