#108 New bed sheets have reached a stable supply, and then... (23/06/2024)

Hello everyone, welcome back to this week's journal! If this is your first time reading a journal, don't worry! You read that right, it really is a journal. When was the last time you heard the term "journal"? If you're like most people, it was probably in elementary school! That's right, I've "revived" the concept of a journal from elementary school and brought it to the business world. Re Pillow Co. is my brainchild. Whether anyone wants to read it or not, I want to record my work experiences because I think it will be very meaningful to look back on it later, witnessing my growth step by step. Of course, there's also the possibility of failure, so these journal entries can also help people see why they failed, hoping that others can avoid making the same mistakes and have a smoother path.

This week I want to talk about a more serious topic, which is about my observations and experiences over the past six months. It's not about grand principles, just some reflections on my work. Over the past decade, many small startups like Re Pillow Co. have emerged around the world with the rise of the internet, spanning various industries. Some of the more well-known examples include Rent the Runway, AWAY Luggage, Allbirds Shoes, Warby Parker, Ridge Wallet, Cuts Clothing, Casper Mattress, and Dollar Shave Club. These are all D2C (Direct-to-consumer) internet companies, meaning they use the internet for sales and advertising. Customers place orders directly on their websites, and the companies ship the goods directly to them, bypassing other companies (such as department stores or brand agents). These companies often claim "We've cut the middleman," allowing them to offer customers higher-quality goods at lower costs. Whether this claim is true and whether it actually has this effect is not so simple; I'll share more at a suitable time. However, many of their businesses have reached a point where growth seems to plateau, as if they can no longer grow. Therefore, in the past year, there has been some discussion in the economic market about whether we have reached an era where we are witnessing the decline and end of D2C brands. As someone who also works in the D2C brand sector, I have personally experienced this and understand the situation very well. Ten years ago, when D2C brands began to rise, they seemed to present consumers with a very positive picture, but things are not that simple. Some of the companies mentioned above were once very successful, becoming billion-dollar brands, but some have seen their valuations plummet by 90% from their peak, even facing the brink of bankruptcy. There are indeed some problems behind this.

I believe history repeats itself. Life is finite, and many mistakes made by predecessors are repeated by those who are foolish enough to ignore them, which is a waste of time and a pity. Of course, times change, but many principles remain the same. Therefore, we should humbly listen to those who came before us (ideally those who have achieved your definition of "success" and the goals you aspire to). Taking notes can help avoid many mistakes. For Re Pillow Co., I simply want to continue doing my best, taking practical steps forward. I don't aspire to be the biggest or most powerful company mentioned above; I just want to focus on solid business, do my best, and continuously improve. I believe this is the right direction and attitude.

A friend recently sent me a message about a hot pot restaurant I really like. One by one, the branches closed down. Some people mocked them, saying their prices were too high, that they used to make a fortune a few years ago, and that closing down now was a "dead end." I, however, neither knew nor recognized the store. The hot pot restaurant owner, but I think closing down a business isn't necessarily a happy thing. He also has parents and family, even children who depend on him. Plus, he also employed colleagues and staff, contributing to society. Sometimes people are just doing something... Hot pot restaurants are legitimate businesses. Even if their prices are high, it's a fair transaction. As long as someone is willing to pay, that's fine. Why criticize them like that? Sometimes I feel it's such a pity... The most important thing is to fulfill the responsibilities of a boss when closing down, paying all outstanding debts and ensuring all employees' wages are paid in full. Of course, I shouldn't comment on other people's affairs. Sometimes things are too complicated for me to understand, and I have no right to comment.

The fact is, the economy is bad; everyone is a victim. Sometimes people can say less... Sometimes, instead of being sarcastic and cynical, we should be more understanding and considerate. We all live in this city, and if the environment isn't good, Dup should just keep his head down and work hard quietly, and that's enough. There's no need to kick him while he's down.