Perennial did their research. They are not dumb. Online can be profitable. Just look at online betting. But not everybody gambles. And it’s easy to start up and imitate/compete. The Covid theme and people staying home nothing to do drove growth sky high.
But when you have a physical product with proprietary software, not as easy to start up or compete esp if you get a head start on the supply channels etc
Ann: Results of Meeting, page-29
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