Scott Galloway Famous Quotes
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Booking travel the same day? You must be a business traveler, please - bend over.
History favors the bold. Compensation favors the meek. As a Fortune 500 company CEO, you're better off taking the path often traveled and staying the course. Big companies may have more assets to innovate with, but they rarely take big risks or innovate at the cost of cannibalizing a current business. Neither would they chance alienating suppliers or investors. They play not to lose, and shareholders reward them for it - until those shareholders walk and buy Amazon stock. Most boards ask management: "How can we build the greatest advantage for the least amount of capital/investment?" Amazon reverses the question: "What can we do that gives us an advantage that's hugely expensive, and that no one else can afford?" Why? Because Amazon has access to capital with lower return expectations than peers. Reducing shipping times from two days to one day? That will require billions. Amazon will have to build smart warehouses near cities, where real estate and labor are expensive. By any conventional measure, it would be a huge investment for a marginal return. But for Amazon, it's all kinds of perfect. Why? Because Macy's, Sears, and Walmart can't afford to spend billions getting the delivery times of their relatively small online businesses down from two days to one. Consumers love it, and competitors stand flaccid on the sidelines. In 2015, Amazon spent $7 billion on shipping fees, a net shipping loss of $5 billion, and overall profits of $2.4 billion. Crazy, no? No. Amazon is going
If you want to work for Vogue, produce films, or open a restaurant, you had better get immense psychological reward from your gig, as the comp, and returns on your efforts, will likely suck. Competition will be fierce, and even if you manage to get in, you'll be easily replaceable, as there are always younger, hipper candidates nipping at your heels. Very few high-school graduates dream of working for Exxon, but a big firm in a large sector would give you a career trajectory with regular promotions a sexy industry won't.
