VIP Class Notes (Tibo) [S]

I have costco in america. I found many products with a lower price and some of my classmates talk about costco about low price laptops they said a specific series of dell computers in costco. Actually I can’t understand why Chinese people are so interested in costco opening in Shanghai. I also can’t understand why they all crowded in the store the first day of their opening.
I want to know whether they have jobs or something else to do. That day I am in my office, I saw the WeChat moment.
In Chinese news they called many senior citizens.
It is kind of consumer habit of the retired people the people in that age in china experience a very hard time when they are young so they are very sensitive about the lower price. Especially in Shanghai most of retired people heard about the lower price in costco so when the store opened they crowded to get more discount.

Costco sells product . the price is equal to cost and they just sell membership cards and the stores majority income coming from the sales of membership cards.  And my husband has a costco card
If you are Chinese you have a costco card in china then you visit US for a very short time you want to buy some goods in costco but you don’t have membership card at that time if you have the card you should go there and buy more goods in US.

I think this model can’t keep so long in china. This model can success in US partly because the consumer habits and the living style in US. American live very long distance from each other and every area have a supermarket. They buy goods which daily use every week because there is not so many convenience stores nearby but in China consumer habits focus on shop online or through the convenience stores. You don’t need spend much time drive a long distance to buy something and due to the limited living space there is not space to storage those goods. It is not very fit for Chinese people.

for me it is about the environment in car. sometimes some drivers smell not good and it is not clean. If you chose DD you will have a more comfortable experience and if you chose the vip service you will have water. I more care about this factor not the entertainment. even there is some entertainment machines I will not allow my children to use that.
Even now they always watch their phone and I told them don’t use phones in the car it will harm your eyes

I think many jobs will disappear but many jobs will be created by the new technology for the AI in the future and the time I live I think AI tech will never take place of human beings emotions. They can’t communicate with you like human beings. It is very complex algorithms. AI might change our life in certain ways but not all.

I think the jobs related to manual  works. the workers have to put many physical efforts on that such as in my home cleaner, some robots can make up my room and cook and at that time I don’t need cleaner I just set a time and go home and everything is done. and driver we don’t need drivers but at that time there is no driver on the road that will make auto cars possible and airplanes there is no one can drive airplanes.
Creativity is an ability AI cannot do.

I have been to costco in america. I found many products at a lower price/ were sold at a lower price point / were sold cheaper than in other supermarkets. some of my classmates talked about costco about low price laptops they said a specific series of dell computers in costco is a good deal. Actually I can’t understand why Chinese people are so interested in costco’s opening in Shanghai. I also can’t understand why they all flocked to  the store on the first day of their opening / why the store was so crowded on the first day

I want to know whether they have jobs or something else to do. That day I was in my office, I saw it on WeChat moment.
In Chinese news they mentioned many senior citizens went there
It is a kind of consumer habit of the retired people. the people in that age group/bracket in china experienced  a very hard time when they were young so they are very sensitive about the lower prices / their price sensitivity is high. Especially in Shanghai most of retired people heard about the lower price in costco so when the store opened they flocked to get the deals.

Costco nearly sells products at cost  / they sell products at low margins.

and they just sell membership cards and the majority of their income / their main income source is coming from the sales of membership cards.  And my husband has a costco card

I think this model is not sustainable. This model can succeed in the US/ be successful partly because of the consumer habits and the living style in US. Americans live very long distance from each other and every area has a supermarket. They buy groceries once a week because there is not so many convenience stores nearby but in China consumer habits focus on shopping online or in the convenience stores. You don’t need to spend much time driving a long distance to buy something and due to the limited living space there is not much space to store those goods. It is not very fit for Chinese people.

Vocabulary

identical : exactly the same
The painting is identical

universal income: Money given to all the citizen of a country so they can cover living expenses.
Some government are considering implementing universal income in the future

pilot: person driving a plane
There won’t be pilots in the future.

stream  : to play directly from the internet
I watch a video stream on my phone.

entertainment  : everything related to making people happy.
The entertainment system in cars is going to improve.

future proof : that can only get better in the future
Working in video games is quite future proof.

creativity  : ability to create new things
AI can not replace creativity.

oral thread  : thread to clean between teeth
I bought some oral thread at the supermarket

storage ( n): the keeping of items
I don’t have much space for storage.

to store (v): keeping things
I only store 2 days worth of food.

to flock : to travel in a group (usually birds)
People flock to Shanghai during holidays.

factor : something that comes in a decision
one of the main factor for choosing this car is that I like the brand,

razor thin margin : extremely small margins
Xiaomi sells goods are razor thin margins.

at cost : without margins
Xiaomi sells at cost and makes money on additional purchases.

sustainability : ability to keep something lasting
People questioned the sustainability of his business model.