Redefining Arbitrage (What if hard work is the real untapped opportunity?)
What Even is Arbitrage?
- Phillip’s new definition of arbitrage: an untapped source of potential; a source of growth that's under leveraged or as yet undiscovered.
- “The real arbitrage opportunity is hard work. Everybody wants a shortcut, and everybody wants the one weird trick.” - Philllip
- We’re stuck in a e-commerce industry diet fad phase. Everyone is searching for the one weird trick, but there is no weird trick, its just an endurance race of hard work.
- “Work hard and keep working longer than you ought, because most others will not.” - Phillip
- Gentle parenting is a style of parenting that is becoming very popular but there is a common refrain which is to do dangerous things carefully. Doing things carefully can be looked at the same in commerce, we take risks and are not promised a guaranteed outcome, but you test it and learn from it.
- Luxury by nature is an exception because it will always be the minority. In eCommerce, we often look at luxury as an exception, and we go and build for that experience, but we’re actually building for the exception.
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