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We pulled back from some markets to focus on profitability. Discipline over growth. Hard lesson learned.
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Financial services — car loans, insurance, warranties — have higher margins than car sales. That's where the business really works.
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Buying a used car in Mexico was terrifying. No history, no warranty, frequent fraud. We fixed that.
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We became the most valuable startup in Latin American history. Then we learned that valuations aren't profits.
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The used car market in Latin America is massive and completely unstructured. Structure creates value.