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Temu is all over the place, promising that you would be able to store like a billionaire shopping for $10 wi-fi audio system, $12 sneakers, $20 drones and different low-cost devices, garments, backed with the promise of free delivery, 90-day returns, 30-day value changes, and deliveries inside 2 weeks. However Temu isn’t the primary to promote generic, unbranded, mass-produced Chinese language merchandise on-line at radically low costs. Earlier than Temu, there was AliExpress and Want – who each went to market a long time in the past with the very same worth prop, unbelievably low costs, and wacky promoting.
Want was the earliest entrant into this house and the SF-based startup was as soon as one in every of Silicon Valley’s darling unicorns. All of it begs the query – how precisely do these firms keep alive promoting $5-10 objects on-line? On this episode, we’ll cowl the enterprise of promoting low-cost Chinese language-made junk on-line via the rise and fall of Want, the persistence of AliExpress, and the sudden emergence of Temu – and the way all of this ties again to greed, development and Silicon Valley.
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0:00 The Greenback Retailer Platform
8:20 The Rise & Fall of Want
16:32 Irresponsible Burn
30:50 Idiot Me Three Occasions
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