What type of companies can scale in Mexico today?
The closure of JUSTO on December 15 should not be read as the failure of a startup, but as a clear signal for the Mexican entrepreneurial ecosystem. Despite its technology, brand and ability to raise capital, the model still depended on an equation that was difficult to sustain: expensive physical infrastructure, thin margins and a constant need for capital to continue operating. In a more restrictive economic environment, that type of business becomes especially difficult.
JUSTO did many things well. It digitized a traditional experience and opted for logistical efficiency. However, the problem was not the execution, but the type of business that was attempted to scale. Digitizing a supermarket does not automatically make it a scalable model. It remains an intensive operation in physical assets, people and costs that grow with each new user.
This case exposes a common confusion: assume that using technology is equivalent to building a technology company. Not everything digital scales, and not everything that scales needs warehouses.
In contrast, the recent withdrawal of the tax on video games in Mexico points—perhaps without explicitly saying so— where the true growth potential lies. Taxing video games was, in practice, taxing software, creativity and digital export. It was making one of the few industries where Mexico can compete globally without moving physical merchandise more expensive.
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Video games today combine software development, design, narrative, digital art and platform economy. They are exportable intellectual property, talent that invoices in dollars and models where the marginal cost of growth tends to zero. In a country with logistical challenges and limited infrastructure, this difference is strategic.
Platforms like Roblox illustrate this change. More than a video game, they function as creation and monetization ecosystems where small studios and creators generate real income without depending on complex logistics chains. While some businesses grow by adding square meters, others grow by adding users, creators and digital assets.
The lesson is clear. The companies most likely to scale today are those that build intellectual property, operate platforms, and monetize audiences, not just transactions. For founders, it means thinking less about replicating physical operations and more about creating their own assets. For investors and regulators, understanding that incentivizing IP means multiplying growth.
Mexico does not need more companies that only move products.
You need more companies creating assets that the world wants to consume.
About the author:
Gonzalo A Girault Facha
Founding Partner Radient Game Studios
“We are what we play”
follow him on TikTok
The opinions expressed are solely the responsibility of their authors and are completely independent of the position and editorial line of Forbes Mexico.
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