In the letter, he explained that writing a brilliant, long memo requires the writer to understand the subject well. It also requires the writer to “improve results through the simple act of teaching scope.” By that he means doing a great job requires effort, not speed. “A great memo probably should take a week or more” to write, he said in the letter.
“We read [the memos] in the room. Just like high school kids, executives will bluff their way through the meeting as if they’ve read the memo. So you have to carve out time so everyone has actually read the memo – they are not just pretending,” he said.
Original source: Jeff Bezos admits Amazon has ‘the weirdest meeting culture you will ever encounter’, Business Insider
‘But despite simple perception of them all as “tech” companies, their core revenue sources are clearly different. And those distinctions suggest ways people can understand and respond to anxieties about their growing economic and cultural influence.’
Original source: ‘Big Tech’ isn’t one big monopoly – it’s 5 companies all in different businesses
“Amazon’s Indian venture is probably a springboard for a move towards more established markets. India is some way away from Amazon’s key US and European markets, suggesting that it’s using India as a test lab for expanding its insurance operations. However, Amazon’s decision to flex its insurance muscles in India is probably also down to the fact that Amazon has stronger competition in this market in the form of home-grown rival Flipkart — which has also begun stepping into insurance. In Europe and the US, meanwhile, Amazon has fewer real competitors. As such, it’s likely that if Amazon’s venture with Acko succeeds, we’ll see it striking similar partnerships closer to its core markets to bulk out its insurance presence there. If this were to happen, legacy insurers and smaller insurtechs would be up against some stiff competition.”
Original source: Amazon pushes further into insurance with its latest investment
“While UK insurers are investing in tech and providing digital services, the majority are light years behind Amazon,” noted Davies. “If insurers are not careful, they may be pushed out of having a direct relationship with customers and be relegated to the role of a price-driven risk carrier at the back end (assuming Amazon doesn’t want to hold the risk too).”
Original source: Amazon is coming for the insurance industry – should we be worried?
“Amazon.com Inc. is famous for its losses over the years. But even in the heyday of the dot-com bubble, the e-commerce giant never came close. Amazon’s biggest loss was in 2000—a $1.4 billion embarrassment, or about $2 billion adjusted for inflation. Most years, Amazon turns a profit, albeit a small one. What Uber backers can point to, though, is a nearly unmatched pace of sales growth. Even as Uber’s revenue reached $2.3 billion in the fourth quarter of 2017, its annual growth rate remained strong, at about 90 percent compared with 2016. That’s faster than most tech companies with a similar valuation. Only one U.S. tech company of Uber’s size, Micron, grew at anything close to that last year.”
Original source: Uber Spent $10.7 Billion in Nine Years. Does It Have Enough to Show for It?
“Purchases made through devices such as Google Home and Amazon’s Echo are projected to leap from $2 billion to $40 billion by 2022 as technology improves, U.S. consumers become more comfortable and the speakers become nearly as commonplace in homes as a flat-screen TV, according to a new study from OC&C Strategy Consultants.”
“Shoppers are more apt to buy cheaper items, such as phone charger cables, via voice. The average online basket was $661 for online purchases of electronics, compared with $239 for voice orders, OC&C said. “
Original source: Ordering from voice tubes
‘The “Amazon effect” refers to the decline in traditional retail employment despite expansion in the overall retail sector. That paradox is occurring because of the explosion of online retail, driven in part by Amazon. As online shopping becomes more efficient and widely-used, fewer traditional retail workers are needed. The Amazon theory purports that lower demand for retail labor keeps wages low and holds down the price of consumer goods. But economists are split on the extent to which this phenomenon actually impacts inflation.’
Original source: Federal Reserve chair says ‘Amazon effect’ could be responsible for low inflation
“We have got a huge, competitive disadvantage in American businesses, far more important than any tax change, in terms of our healthcare costs.”
Original source: Warren Buffett reveals more details about healthcare venture with JPMorgan and Amazon