Learnings from Jeff Bezos

18 April 2019

“Find a job you enjoy doing, and you will never have to work a day in your life.”
― Mark TwainChinese billionaires are weighing in on working long hours.9am to 9pm, 6 days a week. 8am to 11pm 6 days a week.

I think something's missing here.

People are freaking out over the weekly hours. But what is work, really?

If you are excited about building a company, time goes in, but a lot of it won't feel like work.

They, like us, chose what they wanted and how to spend today to get there. Their lifestyle is not for everyone, and that's okay. It's a choice we can make.

https://thehustle.co/alibaba-jack-ma-overworked-996/

KEY TAKEAWAYS FROM JEFF BEZOS' ANNUAL AMAZON LETTER

This is so big it needs to be repeated.

3rd party sellers like us, beat Amazon's best attempt at selling products themselves.

Also, Bezos recognizes online sales are still at 10% of all retail, and Amazon is half of that, so 5% of all retail. Even if they're the 50% sales giants online, they're still the little guys in overall retail.

Annual shareholder reports are a place to review financial performance, and set direction for the company. Bezos has been doing this masterfully for decades, and his letters read like a telling of the future.

You can absolutely be sure this has wheels turning at Amazon.

5 Must See Quotes from Jeff Bezos of Amazon

AD SPENDING SHIFT FROM GOOGLE TO AMAZON

We talk about Amazon being a search engine for products. Some of the big ad buyers ($300m in Amazon ads last year) are moving their budgets away from Google.

Amazon's Rise in Ad Searches

EXTENDING ONLINE EYEWEAR OFFLINE

Companies like Wayfair, Warby Parker, and Amazon are opening and increasing their physical presence.

Opening brick and mortar stores.

This seems backwards, considering the constant stream of mall and store closures we are seeing. But Warby Parker insists their web sales increased 3.5% as a result of their showroom.

I suspect these online companies are viewing and using the stores very differently than traditional retailers. They focus on the showroom aspect, so people can see a real object in their hands.

Their focus is not to close the deal on the spot. Just another form of advertising. Interesting.

VSP Extends Eyeconic Offline

PAYPAL'S NEW REFUND POLICY

Paypal keeps making things harder for retailers.

They could of done so much more with their complete dominance in online payments.

But their actions keep showing they are thinking short term. No love for Paypal from me.

Paypal's New Refund Policy