TIME spoke with CEO Anthony Tan about Grab's social impact mission, the importance of Tan's faith and whether super-apps could take off in the U.S.
—as well as its social impact mission, the importance of Tan's faith and whether super-apps could take off in the U.S.Is Grab a business or a social enterprise?
It does seem like a lot of what Grab does, which separates it from Uber and other competitors, is the hyper local kind of aspect? The second point I think it really helped in my leadership principles. When I first had to sign up drivers, [there was] this idea of: we are no different. If I believe that God would go down to the ground and wash the feet of his disciples, wow—I mean, who am I?
Timing is very important. On both the positive and the negative. The thing is, the time was very different. I was just with Jamie Dimon recently, the CEO of JP Morgan. And if you read his, a very good letter—at one point, we would look back and say there were trillions of dollars lent out at negative interest rates. Negative—I pay you money to take my money. And today, cost of capital is five-, six-, seven-, eight- 9%, depending on credit rating and all that.
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