Jan 2016 – Audiobook
Notes transcribed from hand notes I took partially while driving. I pulled off on many exits between LA and Las Vegas to take notes particularly ones that apply to my businesses. Many of those don’t appear here.
This book gives an incredibly detailed account of the history of Amazon. While some aspects may not be fully accurate due to the non-insider position of the author, just the historical account as seen from the outside is interesting. Many of the major turning points in Amazon’s business happened very early when a lot of us weren’t paying attention.
Regret Minimization Framework
Hiring Rules. Everyone rates.
1. Strong Hire
2. Inclined to hire
3. Inclined not to hire
4. Stay no hire or 2 or less = no hire
– Be 70s funded AMZN 10K 1999 then total 84k in loans
– Total salary at 64k salary
Really focus on the role of recommendations. How do they influence category performed.
Membership fee – can it affect shipping? (not really, but encourage loyalty.)
– free next day for members
– Costco startup is 14% always
– Members get reusable packages and blender bottles -no cost / no deposit. THINK
– Use volume to squeeze vendors, dare econ of scale. Help desert stores.
Flywheel – from to great
Efficiencies (later skip distributors)
Lower vendor prices
Lower end prices
More access for people
What’s our flywheel? Self reinforcing loop