• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 50,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

  2. Forum *Official* Book Discussion
    Influence, The Psychology of Persuasion by Robert Cialdini

    The forum has voted to discuss this book. Grab it and let's discuss!
    Buy: Buy | Discuss: Influence: The Psychology of Persuasion(Review | Discuss)

OFF-TOPIC JEFF BEZOS NOW THE WORLDS RICHEST PERSON

Discussion in 'Off Topic: Sports, Funnies, Pop-Culture' started by Bellini, Jul 27, 2017.

  1. Bellini
    Offline

    Bellini Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    465
    Likes Received:
    1,356
    Joined:
    Mar 26, 2015
    Gender:
    Female
    Location:
    Dallas, TX
    Rep Bank:
    $8,886
    Last edited: Aug 13, 2017
  2. jon.a
    Offline

    jon.a Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    4,323
    Likes Received:
    13,877
    Joined:
    Sep 29, 2012
    Gender:
    Male
    Location:
    Near San Diego
    Rep Bank:
    $79,271
  3. HayesTech
    Offline

    HayesTech Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    47
    Likes Received:
    131
    Joined:
    Sep 5, 2016
    Gender:
    Male
    Rep Bank:
    $580
    Selling books in a garage < richest man alive (that Forbes can track)
     
    ZF Lee, Longinus and Greg R like this.
  4. TheDillon__
    Offline

    TheDillon__ Silver Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    421
    Likes Received:
    605
    Joined:
    Apr 11, 2016
    Gender:
    Male
    Location:
    DFW
    Rep Bank:
    $2,395
    So?
     
    Van Halen likes this.
  5. GatsbyMag
    Offline

    GatsbyMag Bronze Contributor Speedway Pass

    Messages:
    112
    Likes Received:
    201
    Joined:
    Jun 20, 2016
    Rep Bank:
    $1,092
    1. Does it really matter?
    2. How do we actually know he's the richest? Just because CNN/Forbes says?

    Regardless, thanks for keeping us up with the news.
     
  6. Rabelo
    Offline

    Rabelo Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    60
    Likes Received:
    101
    Joined:
    Apr 4, 2017
    Gender:
    Male
    Location:
    secunda
    Rep Bank:
    $537
    tell us the process, we not interested in the news and events
     
  7. MJ DeMarco
    Online

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    27,852
    Likes Received:
    91,877
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $396,204
    Admin Post
    Well he was the richest for a few hours... after AMZN earnings he fell a bit. Oh well, there's always tomorrow to be the richest and ultimately I think he will make it.
     
  8. G-Man
    Offline

    G-Man Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    1,711
    Likes Received:
    9,238
    Joined:
    Jan 13, 2014
    Gender:
    Male
    Rep Bank:
    $13,678
    Better for who?
     
    Greg R likes this.
  9. MJ DeMarco
    Online

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    27,852
    Likes Received:
    91,877
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $396,204
    Admin Post
    [​IMG]

    1998: I sell books.
    2017: I sell whatever the F*ck I want.
     
  10. TheRegalMachine
    Offline

    TheRegalMachine Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    87
    Likes Received:
    129
    Joined:
    Jul 27, 2017
    Gender:
    Male
    Location:
    Moon Base
    Rep Bank:
    $697
    So does that mean Bill Gates has too hand over his championship belt?
    Or can he just ship it next day via Amazon Prime?
     
    Certg, Locomote, DeterminedJ and 3 others like this.
  11. BrooklynHustle
    Offline

    BrooklynHustle Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    734
    Likes Received:
    1,447
    Joined:
    Apr 3, 2014
    Gender:
    Male
    Location:
    DMV
    Rep Bank:
    $9,846
    lmfao, I love this one
     
    Denis from BE likes this.
  12. MisterBHZ
    Offline

    MisterBHZ Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

    Messages:
    264
    Likes Received:
    408
    Joined:
    Dec 10, 2013
    Gender:
    Male
    Location:
    Memphis, TN
    Rep Bank:
    $2,163
    Damn. His 401k must be insane.
     
    Locomote, Bellini, cmor16 and 6 others like this.
  13. Sean Kaye
    Offline

    Sean Kaye Hopium Dealer Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    157
    Likes Received:
    545
    Joined:
    Jun 14, 2017
    Gender:
    Male
    Location:
    Sydney, Australia
    Rep Bank:
    $3,338
    Amazon net income from everything not AWS - ($700m)
    AWS net income - $915m

    That's a cloud services business that owns a money losing retail and distribution operation.
     
    Kingmaker and Nily like this.
  14. Digamma
    Offline

    Digamma Gold Contributor Read Millionaire Fastlane Speedway Pass

    Messages:
    741
    Likes Received:
    2,038
    Joined:
    Nov 13, 2014
    Gender:
    Male
    Rep Bank:
    $12,539
    Not really. It's a e-commerce business that is eating up markets upon markets, focusing on growth, and turning internal infrastructure needs into client-facing operations that eat up even more markets.

    Need a huge internet infrastructure? Make it customer facing (AWS) so it:
    a) it becomes better for Amazon: internal solutions are always scrappy, full of "good for now, fix later" that never gets fixed; case in point, I seem to remember (but I don't have a source atm) that Amazon itself is still in the process of bringing the web portal fully to AWS;
    b) it stops being a cost center and starts being a huge business of its own;

    Same things they are doing with Whole Foods. I have read people criticize the move, showing an utter misunderstanding of Amazon's strategy (which, of course, I can't possibly know - but I can apply what I know instead of my own biases).

    They are not simply buying a grocery store chain.

    Amazon wants to get into grocery delivery. But grocery is not like what they do now: orders must be fulfilled locally, and inventory spoils fast.
    So to make it work from scratch they would have to build a whole infrastructure from producers to consumers, with immense cost and time, and eat tons of losses in spoiled inventory as they figure it out.

    So what do they do? They buy Whole Foods, which already has the infrastructure figured out. They can now integrate their plan for grocery delivery into the existing infrastructure, while the infrastructure itself makes a ton of money. It's worth noting that Whole Foods has almost 450 locations spread out enough that it can reach pretty much everywhere, and certainly enough that grocery delivery can be tested thoroughly before expansion. It also specializes in organic stuff, which spoils faster - they must be on point with what they do or they are F*cked.
    Again: the potential cost center is instead a huge business in itself, and Amazon takes a big bite out a new market. If the grocery delivery goes well, it will allow Amazon to expand it through Whole Foods, making Whole Foods itself bigger and bigger (that is, Whole Foods as fulfillment center and store can expand more ambitiously than Whole Foods as just a store).

    My point is: Jeff Bezos is one of the greatest geniuses of our times. One of the few people I truly admire.
     
  15. Sean Kaye
    Offline

    Sean Kaye Hopium Dealer Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    157
    Likes Received:
    545
    Joined:
    Jun 14, 2017
    Gender:
    Male
    Location:
    Sydney, Australia
    Rep Bank:
    $3,338
    Amazon's retail operations have been ongoing for 23 years and have turned a profit in less than ten quarters total if you exclude AWS.

    AWS has spun off huge positive cash flow for Amazon.

    But if you're looking at their retail business, they are buying marketshare in a very low margin, competitive space.

    I think AWS is a brilliant business, I deal with them at a widescale enterprise level every day, but their retail business is not far off a Ponzi Scheme.
     
    #nowhere likes this.
  16. #nowhere
    Offline

    #nowhere Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    187
    Likes Received:
    273
    Joined:
    Jan 29, 2016
    Gender:
    Male
    Location:
    Germany
    Rep Bank:
    $1,494
    I haven't seen it this way. Until now...

    Food for thought.
     
  17. BradD
    Offline

    BradD Bronze Contributor I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    107
    Likes Received:
    234
    Joined:
    Oct 11, 2013
    Gender:
    Male
    Location:
    Ottawa
    Rep Bank:
    $1,510
    Lol is it just me or has Bezos been hitting the weights!? Looks like the terminator of ecommerce
     
    Nhyira Quansah likes this.
  18. cutthroughstatic
    Offline

    cutthroughstatic I Buy Cars Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    122
    Likes Received:
    377
    Joined:
    Mar 13, 2015
    Gender:
    Male
    Location:
    SoCal --> Richmond, VA
    Rep Bank:
    $2,873
    wow. he's an overnight success!
     
  19. MJ DeMarco
    Online

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    27,852
    Likes Received:
    91,877
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $396,204
    Admin Post
    Also interesting to note: Whole Foods are in locations where the demographics are higher income, affluent and upper middle class, the same type of demographic that can afford to pay a premium for home grocery delivery.
     
    Dwight Schrute, Fox, Locomote and 7 others like this.
  20. Sequential
    Offline

    Sequential Bronze Contributor Speedway Pass

    Messages:
    117
    Likes Received:
    162
    Joined:
    Aug 8, 2017
    Gender:
    Male
    Location:
    UK
    Rep Bank:
    $145
    I want to know why Amazon has not been hit with Monopoly charges like Microsoft was.

    Microsoft - market monopoly on operating systems... gets fined a lot of money.

    Amazon - market monopoly on virtually everything now, well known for forcing competitors out of markets including people who sell on amazon...no fines.

    Can someone who knows law please explain?
     
  21. ApparentHorizon
    Offline

    ApparentHorizon Gold Contributor Speedway Pass

    Messages:
    764
    Likes Received:
    2,215
    Joined:
    Apr 1, 2016
    Location:
    Greenville, SC
    Rep Bank:
    $8,497
    40% market share is a monopoly?
     
  22. BeFound Faithful
    Offline

    BeFound Faithful Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    81
    Likes Received:
    124
    Joined:
    Dec 19, 2015
    Gender:
    Male
    Location:
    Southern California
    Rep Bank:
    $852

    hmmm... a picture's worth a 1,000 words
     
  23. B_Mac
    Online

    B_Mac Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER

    Messages:
    52
    Likes Received:
    303
    Joined:
    Apr 10, 2017
    Gender:
    Male
    Location:
    Southwest Virginia
    Rep Bank:
    $2,727
    I am not a lawyer or law expert, but I understood Microsoft to be a monopoly because it wouldn't license Windows to any computer distributor unless it agreed not to use any other browser (Netscape, I think). So it used its power to force other companies to use its product, from which it would profit.

    Amazon hasn't reached that point (yet). Amazon doesn't make money every time Wal-Mart or Target sales something, or every time UPS delivers something, or every time a retailer who uses AWS makes a sale.
     
    Sequential likes this.

Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.

---- ----

You must be a member to join the conversation.

Create Account

Join the community fast and easy!

REGISTER

Log In

Already have an account? Login here.

LOG IN

Share This Page