Alibaba and Sea could not be more different. One is an extremely wealthy company reporting over US$20 billion in net income per year, and the other is a diminutive upstart running constant losses. Yet, it is the latter that is winning, no matter how much money its enormous opponent throws at the market. There’s no single reason why Shopee came out on top, no single recipe, or an ‘eureka!’ moment, but Shopee is simply slightly better at everything. Founders outsmart managers I think a frequently overlooked factor is a lack of a vision for what the business should actually be. Being a founder is like being a parent, even if you’re bestowed with some stock options as part of your. . . .