Want to Succeed in Business? Find a Problem to Solve | Anthony Tan and Amane Dannouni | TED
TED
18 min, 2 sec
A detailed conversation with Anthony Tan, CEO and cofounder of Grab, discussing the company's inception, growth, and impact-driven business model.
Summary
- Anthony Tan, CEO and cofounder of Grab, is introduced as a prominent figure in the tech community, particularly in Southeast Asia, and outlined as a multi-faceted individual with various personal roles.
- Grab is described as a multifaceted platform combining services like Uber, DoorDash, and PayPal, aiming to solve real social issues from its inception.
- Tan discusses Grab's origin, emphasizing the goal to create a for-profit social enterprise (FOPSE) or double bottom line business that integrates social impact from day one.
- The focus on safety, particularly for women and children in Malaysia, is highlighted as a personal and widespread issue that Grab sought to address.
- The expansion into financial services and a full-fledged bank is attributed to the need to support drivers and merchants financially, offering daily interest accrual and facilitating high initial investments in EVs.
- Tan elucidates the strategic choices that enabled Grab to scale quickly and sustainably, catering to the bottom of the pyramid.
- The conversation also touches upon Grab's commitment to environmental sustainability and its journey towards becoming net carbon neutral by 2040.
Chapter 1

Anthony Tan is introduced with an overview of his background and Grab's multifaceted platform.
- Amane Dannouni introduces Anthony Tan as a well-known figure in the tech community and CEO and cofounder of Grab.
- Tan's multifaceted identity is highlighted, acknowledging his roles as a Malaysian-born individual, based in Singapore, and his personal life roles.
- Grab is described as a super-app that combines services akin to Uber, DoorDash, and PayPal in one platform.

Chapter 2

Anthony Tan shares the initial vision for Grab and the decision against traditional business models.
- Anthony Tan responds modestly to the introduction and expresses his discomfort with such praise due to his upbringing.
- Tan explains the traditional business model of building wealth and then contributing through philanthropy, but he favored an integrated impact-driven approach from the start.
- He argues against the traditional model which might cause harm or fail to give back, highlighting the potential for negative externalities in profit-driven businesses.

Chapter 3

The focus on safety as Grab's primary mission is discussed.
- Tan discusses why Grab chose not to follow the traditional business model of wealth accumulation followed by philanthropy.
- He highlights the importance of addressing negative impacts and discusses the possibility of not giving back or causing harm.
- Grab's business plan was submitted as a social enterprise, reflecting its commitment to positive social impact from the outset.

Chapter 4

Anthony Tan shares personal experiences that motivated Grab's focus on safety.
- Tan shares a personal anecdote about his cofounder's safety concerns when using taxis, which inspired Grab's focus on safety.
- Grab aimed to solve a globally relevant problem, starting with improving transportation safety in Malaysia.
- The safety solution was envisioned to unlock opportunities for women, children, and society at large.

Chapter 5

Anthony Tan discusses Grab's expansion into financial services and banking.
- Tan explains how Grab evolved from solving transportation safety to offering financial solutions like Grabpay and Grab lending.
- The financial services provided by Grab, including digital banking, are designed to support drivers and merchants, enabling them to save and earn daily interest.
- Grab's financial solutions aim to uplift the economic conditions of drivers and long-tail merchants in Southeast Asia.

Chapter 6

The reasons behind Grab's geographical expansion across Southeast Asia are explored.
- Tan speaks about Grab's decision to scale across eight different countries, despite the diversity and challenges in Southeast Asia.
- He justifies the broad scope of Grab's operations, designed to serve 650 million people, by focusing on common problems and proven solutions.
- The importance of scale and velocity in providing efficient services and serving the bottom of the pyramid is emphasized.

Chapter 7

Anthony Tan reflects on Grab's design choices aimed at inclusivity and rapid scaling.
- Tan discusses Grab's deliberate choice to work with taxi drivers and expand to other low-cost forms of mobility over luxury vehicles.
- He explains how these choices were in line with Grab's mission to serve the masses and be financially sustainable.
- Tan also describes the early technological choices, such as betting on Android, to reach more drivers and ensure scalability.

Chapter 8

Anthony Tan discusses Grab's regulatory strategy and its competition with Uber.
- Tan reflects on the decision to work with regulators and the taxi industry instead of disrupting the market aggressively.
- He explains how this strategy allowed Grab to scale sustainably and eventually outpace Uber in the region.
- Tan suggests that a collaborative approach with regulators and industry stakeholders contributed to Grab's success.

Chapter 9

Anthony Tan talks about Grab's commitment to environmental sustainability and its plans to achieve net carbon neutrality.
- Tan acknowledges the transition from a double to triple bottom line business, incorporating environmental sustainability as a core focus.
- He discusses Grab's goal to become net carbon neutral by 2040 and the strategies to reduce fleet emissions through electrification.
- Tan mentions ongoing efforts and partnerships with governments and other stakeholders to facilitate the shift to electric vehicles.

Chapter 10

Anthony Tan shares his message for entrepreneurs, emphasizing impact-driven business models.
- Tan encourages entrepreneurs to start businesses with double or triple bottom lines, addressing societal problems.
- He argues that entrepreneurs should be driven by a personal calling to address social issues like the rich-poor divide.
- Tan concludes by stressing the importance of passion and conviction in entrepreneurship and the pride in contributing positively to society.

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