Transcript:
JEFF: Funny contrast is the known which I just mentioned got blown out in China about 15 years ago. They came back later without a, without their partner, which was the problem that had there been a dispute. And they came back. What is one of the main products, Nestle or I'm sorry, known is its milk. Well, it turns out foreign companies actually have a pretty big advantage in milk yogurt because of the health food scares that were happening in Chinese Consumers really had a strong preference for foreign milk and those products because they were perceived as safe.
STEVEN: Yes
JEFF: So you know, maybe the second half of their story is like blown in Phase 1, Phase 2 we came back and suddenly being a foreign dairy company.
STEVEN: Right
JEFF: What's a real advantage
STEVEN: Right
JEFF: Here's the great thing about China. It's a very brutal market. It is absolutely, you know a knife fight in terms of competition and every, Dude everybody. Goes down.
STEVEN: Right
JEFF: Example, you know. The saving grace is it changes so fast that you always get a second chance. Like, If you fail today. Give it a couple years because the market changes so fast and consumers change so fast that you always get a second chance
STEVEN: Right, Right
JEFF: And most markets don't give you that.
