Tostino/inkbot-chunked-summary.txt

## inkbot-chunked-summary.txt
<#meta#>
- Date: 2023-10-05
- Task: summary
<#system#>
Your main objective is to condense the content of the document into a concise summary, capturing the main points and themes.
<#chat#>
<#user#>
Please read the provided Original section to understand the context and content. Use this understanding to generate a summary of the Original section, incorporating relevant details and maintaining coherence with the Prior Summary.

Notes:
- The Prior Summary was created from the chunk of the document directly preceding this chunk.
- Ignore the details already included in the Prior Summary when creating the new Summary.
- Focus on summarizing the Original section, taking into account the context provided by the Prior Summary.
- Ignore any details about sponsorships/advertisements in the text.
<#user_context#>
Prior Summary:
Meituan, China's third-largest tech company, has the majority share of the Chinese online hotel booking market. In addition to its food delivery service, Meituan offers travel and hotel booking products. The company has expanded its services to include supply chain, online advertising tools, and cloud-based enterprise resource planning software for small business merchants. Meituan follows a strategy called the "Food Plus Platform," similar to WeChat's super app model. The food delivery business is crucial for Meituan as it drives traffic and cross-selling opportunities for its other services. Meituan's scale allows for efficient delivery operations and low-cost leadership. Meituan has backing from both Alibaba and Tencent, with Tencent's favorable feature placement within the WeChat ecosystem. Alibaba sold its stake in Meituan, citing its focus on its own online-to-offline services division.

Original (Chunk 3 of 3 total):
Alibaba thereafter began developing several directly competing services to Meituan. As Meituan finished up in 2020, they warned investors to expect several quarters of operating losses as the company continues its battles and expands into community buying. To fund this expansion, the company raised $10 billion by selling debt and equity.

Wang is so willing to stir up dust with titans like Alibaba because he is, in general, very comfortable with competition. Meituan's style of horizontal expansion means charging forward into a field of crowded incumbents. This latest competitive push takes Meituan into community purchasing with its Meituan Select service. Community purchasing is a new Chinese e-commerce trend where communities can set up local groups for bulk buying. It's kind of like Groupon but more localized. Pinduoduo pioneered this model where people can band together to unlock group discounts. Founded in 2015, Pinduoduo is now worth $140 billion and its founder Colin Huang is one of China's richest people. The community group buying concept began in China's hinterlands, massive cities with millions of people that nobody has ever heard of, like Dandong, Panjing, and Fushun. It's a titanic market estimated to be worth $100 billion in 2021. Meituan is not going to win it though without a fight. Meituan Select directly competes with JD.com's Dingdong Maicai, Xingshen Youxuan, Pinduoduo's Duoduo Maicai, Alibaba's Taobao Maicai, and Didi Chuxing's Chengxin Youxuan. I should mention, interestingly enough, Pinduoduo is also a Tencent investment. Having scaled up in their early days due to their usage of WeChat groups and mini-programs, the Meituan team is definitely not afraid of stepping on their siblings' toes. Wang is a student of history. In interviews, he quotes Chairman Mao and cites the Hundred Regiments Offensive, a glorious WWII Chinese victory commanded by CCP Kuomintang General Peng Dehuai. He would be a great astronomy viewer. Considering Wang's knowledge of history, a recently deleted post on his social media is worth closing with. In May 2021, he posted on the social media network fanfo.com a 1,000-year-old poem by Zhang Jie titled "The Book-Burning Pit". Then he deleted it because he knew he'd done goofed. Meituan's stock crashed to a seven-month low as the market immediately saw the post as a criticism of Beijing and its recent antitrust moves. The Chinese government has been very sensitive to such things, starting with the very public beatdown of Alibaba Group after the Jack Ma speech. Meituan is very comfortable with conflict. They have carried their zen through years of battles and horizontal industry invasions. But now perhaps they have come across an opponent against which they cannot win. Alright, everyone, that is it for tonight. Thanks for watching. If you want more content, you can like and subscribe to the channel. I would like if you did. Remember to sign up for the email newsletter. And if you want to send me an email, drop me a line at john@asianometry.com. I love getting letters from viewers. Until next time, I will see you guys later.

Summary (Chunk 3 of 3 total):
<#bot#>
Meituan, China's third-largest tech company, is expanding into community buying with its Meituan Select service, competing with existing players like JD.com's Dingdong Maicai, Xingshen Youxuan, Pinduoduo's Duoduo Maicai, Alibaba's Taobao Maicai, and Didi Chuxing's Chengxin Youxuan. Despite having a strong presence in various industries, Meituan may face challenges in winning over the community buying market. Wang, the CEO of Meituan, is known for his comfort with competition and his historical knowledge, often referencing Chairman Mao and the Hundred Regiments Offensive. However, Meituan's recent post on social media criticizing Beijing's antitrust moves caused their stock to crash, indicating potential sensitivity from the government.
<#user#>
	<#meta#>
	- Date: 2023-10-05
	- Task: summary
	<#system#>
	Your main objective is to condense the content of the document into a concise summary, capturing the main points and themes.
	<#chat#>
	<#user#>
	Please read the provided Original section to understand the context and content. Use this understanding to generate a summary of the Original section, incorporating relevant details and maintaining coherence with the Prior Summary.

	Notes:
	- The Prior Summary was created from the chunk of the document directly preceding this chunk.
	- Ignore the details already included in the Prior Summary when creating the new Summary.
	- Focus on summarizing the Original section, taking into account the context provided by the Prior Summary.
	- Ignore any details about sponsorships/advertisements in the text.
	<#user_context#>
	Prior Summary:
	Meituan, China's third-largest tech company, has the majority share of the Chinese online hotel booking market. In addition to its food delivery service, Meituan offers travel and hotel booking products. The company has expanded its services to include supply chain, online advertising tools, and cloud-based enterprise resource planning software for small business merchants. Meituan follows a strategy called the "Food Plus Platform," similar to WeChat's super app model. The food delivery business is crucial for Meituan as it drives traffic and cross-selling opportunities for its other services. Meituan's scale allows for efficient delivery operations and low-cost leadership. Meituan has backing from both Alibaba and Tencent, with Tencent's favorable feature placement within the WeChat ecosystem. Alibaba sold its stake in Meituan, citing its focus on its own online-to-offline services division.

	Original (Chunk 3 of 3 total):
	Alibaba thereafter began developing several directly competing services to Meituan. As Meituan finished up in 2020, they warned investors to expect several quarters of operating losses as the company continues its battles and expands into community buying. To fund this expansion, the company raised $10 billion by selling debt and equity.

	Wang is so willing to stir up dust with titans like Alibaba because he is, in general, very comfortable with competition. Meituan's style of horizontal expansion means charging forward into a field of crowded incumbents. This latest competitive push takes Meituan into community purchasing with its Meituan Select service. Community purchasing is a new Chinese e-commerce trend where communities can set up local groups for bulk buying. It's kind of like Groupon but more localized. Pinduoduo pioneered this model where people can band together to unlock group discounts. Founded in 2015, Pinduoduo is now worth $140 billion and its founder Colin Huang is one of China's richest people. The community group buying concept began in China's hinterlands, massive cities with millions of people that nobody has ever heard of, like Dandong, Panjing, and Fushun. It's a titanic market estimated to be worth $100 billion in 2021. Meituan is not going to win it though without a fight. Meituan Select directly competes with JD.com's Dingdong Maicai, Xingshen Youxuan, Pinduoduo's Duoduo Maicai, Alibaba's Taobao Maicai, and Didi Chuxing's Chengxin Youxuan. I should mention, interestingly enough, Pinduoduo is also a Tencent investment. Having scaled up in their early days due to their usage of WeChat groups and mini-programs, the Meituan team is definitely not afraid of stepping on their siblings' toes. Wang is a student of history. In interviews, he quotes Chairman Mao and cites the Hundred Regiments Offensive, a glorious WWII Chinese victory commanded by CCP Kuomintang General Peng Dehuai. He would be a great astronomy viewer. Considering Wang's knowledge of history, a recently deleted post on his social media is worth closing with. In May 2021, he posted on the social media network fanfo.com a 1,000-year-old poem by Zhang Jie titled "The Book-Burning Pit". Then he deleted it because he knew he'd done goofed. Meituan's stock crashed to a seven-month low as the market immediately saw the post as a criticism of Beijing and its recent antitrust moves. The Chinese government has been very sensitive to such things, starting with the very public beatdown of Alibaba Group after the Jack Ma speech. Meituan is very comfortable with conflict. They have carried their zen through years of battles and horizontal industry invasions. But now perhaps they have come across an opponent against which they cannot win. Alright, everyone, that is it for tonight. Thanks for watching. If you want more content, you can like and subscribe to the channel. I would like if you did. Remember to sign up for the email newsletter. And if you want to send me an email, drop me a line at john@asianometry.com. I love getting letters from viewers. Until next time, I will see you guys later.

	Summary (Chunk 3 of 3 total):
	<#bot#>
	Meituan, China's third-largest tech company, is expanding into community buying with its Meituan Select service, competing with existing players like JD.com's Dingdong Maicai, Xingshen Youxuan, Pinduoduo's Duoduo Maicai, Alibaba's Taobao Maicai, and Didi Chuxing's Chengxin Youxuan. Despite having a strong presence in various industries, Meituan may face challenges in winning over the community buying market. Wang, the CEO of Meituan, is known for his comfort with competition and his historical knowledge, often referencing Chairman Mao and the Hundred Regiments Offensive. However, Meituan's recent post on social media criticizing Beijing's antitrust moves caused their stock to crash, indicating potential sensitivity from the government.
	<#user#>