In the US, e-commerce sales is less than 10 percent of total retail spending, slowly growing 14-15 percent a year. If not for Amazon, which is growing 25 percent a year and has most of the market, US e-commerce spending would be half of that, barely growing at all. In this age of e-commerce and drones and bike delivery, how come e-commerce is actually only a small part? And why even Amazon is opening physical stores?
I estimate that 50-60 cents of every new dollar spent in US e-commerce is spent on Amazon. Which means if the US e-commerce grows by another $60 billion this year like it did in 2016, $30 billion of that will be spent on Amazon. No wonder everyone is trying to figure out how to beat Amazon.
I'm reading the currently-popular articles on US immigration and H-1B visas in particular, I can only add that it's a flawed system. The quota is too small, resulting in a lottery. The requirements are too lax, creating an opportunity to *import* thousands of underpaid employees. The power is all in employer's hands, making one unable to bargain or do something else. And in the end it doesn't have a clear path to citizenship, leaving people waiting for many years.
Simon Sinek recently went viral when he commented on millennials in the workplace. It’s about how they’ve been failed by parenting and basically expect everything on a plate. Then he followed up on this in the interview by the Independent with a jaw-dropping thought that "many millennials leave work on the dot of 5pm every day and refuse to answer work calls or emails over the weekend. This attitude is one of the reasons we have a reputation for entitlement". I find most of Simon's thoughts incredible, but I'm having a hard time agreeing with him on this one.
One of the most common sayings in the startup world is "Ideas are cheap, execution is everything". The second part is right, but the first one is not. Execution is what is going to be required to turn great ideas into something tangible, but execution will not save bad ideas. And most ideas are bad. So the focus instead should be on filtering them out, finding golds nuggets, and then the whole execution machine can start.
The key to shipping side projects is to be able to build a blog in 15 minutes. And have it live accessible for everyone to see in 10 more minutes. If that sounds impossible, then technology is going to limit your creativity when building something bigger.
Starting now this is where I'll spend my days - in a goddamn cubicle in Midtown Manhattan. We are all trying our hardest working on ideas to avoid having to work for a big corporation, and yet I find myself in a cubicle. Go figure.
I picked up a book by Daniel H. Pink called “To sell is human” and it helped me realize a few things. They key thing it argues is that we have generalized what sales people are and have gotten it completely wrong.
I’ve been hearing this message often - none of you are disrupting the markets, all you are doing is building apps. This is a dangerous thing to broadcast. This leaves average Joe and plain Jane wondering - how do I start anything. My idea is not building the next electric car, is it even worth doing?
Amazon sales topped $30 billion last quarter. Yet most customers are oblivious to the fact that when buying from Amazon they are likely not buying from Amazon itself. Instead they are buying from thousands of small sellers on those platforms. It was reported that 49% of the Amazon’s $30 billion figure came from marketplace sellers. That’s $15 billion in sales last quarter from companies no one has heard of.