Business

LABS+1: Money 20/20, Double 11, the Argentine elections and an extra tip for the weekend

Take a look at this week's overview!

What happens in Vegas, stays in Vegas, right? Well… not this time! This week, from Oct 26 to 30, the infamous city hosted the latest edition of Money 20/20 event, the leading conference on financial services worldwide. And the speakers spread the word about a series of matters from privacy regulations to the cryptocurrency market and much more!

But not only of Money 20/20 this week was made. Double 11 or Single’s Day, the world’s biggest sales date, is coming and this time, has a special support to become more popular among Latin American consumers. Supported by the global fintech EBANX, this year, Double 11 will offer customers discounts up to 70%, featuring the products of the three retail brands that are EBANX’s partners in this campaign: UseGiraffe, TiendaMia, and AliExpress

And speaking about Latin America, the region faced a wave of political events with Alberto Fernández and Christina Kirchner election in Argentina and the ongoing civil protests throughout Chile in response to a rise in the Santiago Metro’s subway fare. 

Have you missed any one of these headlines? Well, no need to worry, LABS Plus One is here to keep you up to date!

Check it out the main news of the week and our extra tip for enjoying the weekend in a Latin American way!

4. Money 20/20,  the leading conference on financial services worldwide

How valuable are privacy regulations vs. user experience? This was one of the questions that stepped into the scene of Money 20/20. For Alyssa Cutright, eBay’s head of global payments, this battle’s winner is, in fact, the user experience. “We had a big concern about our data a few years ago… Today is all about convenience. You hardly ever stop using a smartphone card after you include your data. Millennials, in fact, are not so concerned. The future is about convenience and mobile experience. Whether it’s on the phone or something that’s on your wrist,” Cutright said during her session.

Uber has also starred in the conference, talking about a new product launch: the Uber Wallet. With a new team entirely dedicated to its financial products and services, Uber Money, the ride-hailing firm raised discussions about the merge of huge banks and companies with fintechs during the event.

On the stage of Money20/20 USA, the economist who predicted the 2008 crisis, Nouriel Roubini, projected an apocalyptic scenario starring China and the US. “Today we see a battle between these two countries in technology and probably it will get bigger in the next years. They will battle for you to use their proprietary OS or tools, their products”, said the expert.

3. EBANX is supporting Double 11 sales to become as popular as Black Friday in Latin America

Around ten years ago, the Chinese giant Alibaba decided to create a sale date focused on being the opposite of Valentine’s Day, a day when consumers are encouraged to buy gifts for themselves with huge discounts. But what seemed like an unpretentious plan at a first look became the world’s biggest sale, bigger than Black Friday. 

In 2018, the date reached $ 30.8 billion worldwide in a single day of sales. Even so, Double 11 or Single’s Day, as the promotional date is known worldwide, isn’t that popular in Latin America as it is in other countries, especially in Asia. At least not yet: companies like EBANX are committed to change this game for good. This year, Double 11 will offer customers discounts up to 70%, featuring the products of the three retail brands that are EBANX’s partners in this campaign: UseGiraffe, TiendaMia, and AliExpress

2. iFood will start testing delivery robots in Brazil in 2020

In order to reduce the waiting time, delivery robots will be tested in Brazil by the food delivery brand iFood in 2020, according to the Brazilian media outlet Folha de S. Paulo. 

The goal isn’t to reduce the number of drivers, but help them to overcame barriers that increase the delivery time, such as to stop the vehicle and enter into malls to wait and get the food before going to the customer address. 

1. Volver: a word that explains the apprehension surrounding the outcome of the Argentine elections

“Argentines were returning with Cristina Kirchner, the former president, as vice president, and former Kirchner chief of staff Alberto Fernández, as president,” summarizes LABS journalist and columnist Gabriela Grosskopf Antunes, during the election results. The legacy left by Macri has given melody to the chorus chanted by many of the Argentines eager for Fernández’s victory: one-third of the country’s population is on the poverty line.

Read LABS columnist personal and accurate description of the presidential elections in Argentina.

LABS+1: The Latin American soccer pipedream

Based on the novel by the former soccer player Daniel Baldi, this Brazilian, Argentine, and Uruguayan co-production tells the story of Tito, a boy who dreams of being a great soccer player. At the age of 13, he manages to strike a millionaire contract with a team, but his vulnerable background can put everything at risk.

Mi Mundial, 2017