Where’s this from?
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The Anything Store
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Sorry make that Everything not Anything
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The only reason you’re laughing now was the nearly endless influx of cash from investors to keep them afloat for the first ten years of their existence during which they consistently lost money. It’s nearly impossible for a company to fail with a limitless supply of cash, genius.
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Ever wonder why that was he case while their competitors went out of business?https://a16z.com/2014/09/05/why-amazon-has-no-profits-and-why-it-works/ …
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Yet another example of the "all great ideas look like really bad ideas in the beginning" maxim (from Paul Graham), and of why most experts are often wrong, because their map of the future is based on the past, and while the terrain is changing, their map isn't.
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yup - "all progress depends on the unreasonable man..."
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- The majority of the world would have done the same. Thanks to the minority that thinks differently.
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It wasn't obvious then that online discovery would be a core competency and not simply another channel. Google was founded the following year.
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It is kinda fun to laugh at MBAs though. Glad I dodged that bullet.
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I get similar reactions these days when I talk to bankers about the future of fintech amd challenger banks
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hindsight is 20/20
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later, in the car ride to the airport, Bezos assumed a student wanted to work at Amazon, and said "Why do you want to work at Amazon?" student ended up working at Amazon after all!
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and that student turned out to be the stuck-up professor from the all time classic "Back to school"
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Driving forward while looking in the rear view mirror doesn’t work, in cars or business!
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With the benefit of hindsight, we now know the retailers didn't win. But I think the MBA students would have been right if the chains: - weren't saddled with debt from expanding their physical locations - invested in software teams, didn't downsize, and didn't offshore
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