Vinnie Lauria

I would say it definitely means things grow slower. If I compare a startup in Indonesia with startups in some other places, they will tend to be less on the cutting edge of technology, less efficient.

The strategy of coming in, looking for a local player who has shown traction and buying them in order to get a foothold is a very good one, and we will see more of that, lazada has done a very good job of operating in multiple countries. That's not something Alibaba is familiar with.