GPS Taxis and In-cab eCommerce — Boon or Boondoggle
My friend Yuga recently wrote on something that’s becoming big business here in the Philippines … in-cab ecommerce. Interactive business opportunities while stuck in airport traffic. This has been a big bone of contention in the US for years … in some cities cab drivers have even gone on strike… forgoing all their income in a (so far) vain attempt to keep from making more income. I’m an American and a capitalist by birth and education .. I find this picture a lot harder to understand that the screen cap included in this blog post … even though it has a lot of Pilipno words in view.
The Philippines’ reputation is that of a ‘third-world” or “developing” nation … and as a permanent resident of the Philippines I guess I can agree that by many socio-economic standards this assessment may be true … but if you’re in the US (as most of my readers are) I would be really careful not to hurt myself patting myself on the back too enthusiastically.
the “SmartBro” offering in the picture is an internet service provider subsidiary of one of the country’s largest cell phone carriers. Both major carriers are part of a business family tree that traces to PLDT (Philippines Long Distance Telephone company), the former AT&T of the Philippines (and interestingly enough a company traded on the New York Stock Exchange (NYSE) (PHI).
Is your Internet Service Provider (ISP) listed on the NYSE? Didn’t think so. If it is, is it currently carrying a Zachs “Buy” rating and paying $1.31 a share? Not likely.