S1 Ep 6 Tech Giants
Amazon
big thing starts small
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| amazon (SRC: geekwire.com) |
Introduction
Blue Origin recently announced that their first new Glenn rocket will not fly until late 2022. However, it all began on Wall Street! That's right, you read that correctly. DE Shaw &co was Jeff Bejoz's first work. At the time of writing this post, Jeff Bezos is the world's richest individual, with a net worth of $193.4 billion. Elon Musk is ranked second. From a bookstore to cloud services, storage, and more, there's something for everyone. In this episode, we'll learn how Amazon makes money and how the company loses money.
The origin
DE Shaw & Co. were revolutionizing Wall Street, and Jeff was really impressed. They do this by emphasizing data because they understand that if you have data, you win. And DE Shaw & Co. wanted Jeff to focus on a new field at the time, which was the internet (www). Jeff Bezos saw the internet's future and wanted to be a part of it. So, he decides to start a website where he can sell books because there are so many. So, he planned to call it relentless, but after some thought, he settled on Amazon. So, Jeff and McKenzie leave their jobs and relocated to Seattle. amazon.com was released on July 5, 1994. Within a few months, the site had grown from a workshop to a team of 50-60 members.
Early squabbles and growth
In 1997, Barnes and Noble sued Amazon for using the word "World's Largest Bookstore." The case was settled out of court, and Amazon has continued to use the term. Walmart sued Amazon in 1998, accusing them of using their proprietary method; the case was later settled out of court.
The business was selling books, which was very lucrative, but it wasn't enough for Jeff, so in late 1998, he began selling a little bit of everything. Following this, Amazon became a billion-dollar company. Investors began to display interest in the company, causing the stock price to spike to $113 per share, bringing Jeff's net worth to $1 billion. He was named Time's Person of the Year in the same year. It seemed that the company's prospects were bright.
The bubble exploded.
Because of the dot com bubble, the rise occurred in the golden age for tech firms. However, Buble reappeared after a while, and several businesses perished. Amazon was also having a difficult time, and as a result, investors were withdrawing their funds from the company. The explanation for this was that no one will invest in a business with no product and isn't worth a billion dollars. The worst-case scenario resulted in a 95% drop in Amazon's stock price from $113 to $5. Just a few businesses survive as a result of this, one of which was Amazon.
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| amazon prime |
Amazon prime
The business was profitable until 2005, but it remained stagnant. So they come up with the brilliant idea of delivering our chosen product in its entirety for free in two days. It was named Amazon Prime. However, the company will lose money for each product sold through Amazon Prime. Until now, companies have lost money as a result of quick shipping. After this, amazon sales start increasing once again.
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| Amazon web services |
Amazon web services
In the year 2005, Amazon and Jeff ranked the above idea as the second best. The Amazon Web Service was launched in 2005. It is a cloud computing company that hosts consumer and business websites and applications. They provide companies with cost-effective options for hosting large-scale websites. It developed at a faster rate than Amazon after its launch. More than 35% of the world's websites are hosted on this platform. It developed at a faster rate than Amazon after its launch.
Blue origin
Blue Origin, LLC, based in Kent, Washington, is a privately-funded aerospace manufacturer and sub-orbital spaceflight services provider. The business founded by Jeff Bezos in 2000 and is now led by CEO Bob Smith, aims to make access to space cheaper and more efficient by using reusable launch vehicles. In an earlier age, Jeff said, " the earth is finite, and if the world economy and population is to keep expanding, space is the only way to go."
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