The WeChat App is the one app that rules all interactions in China with Alipay increasingly falling behind. North Americans are afraid of bundled information. Everyone in China is purchasing with their information bundled for commercial interest and as well as the State. What is clear is that China is ahead of the Western world in mobile technology but then again so is Africa….
Category Archives: Business
Marc Lore’s Critical Startup Advice: Having sold a $6 Mil, $550 Mil, $3 Bil string of Startups
Marc Lore sold Diapers to Amazon.com and then Jet.com to Wal-mart. Here’s the highlights from his experience.
1) When you get acquired, and you are still passionate about diapers….it’s best to ensure that you are not given your own silo within the acquirer company but rather are allowed to commandeer the part of the acquirer company’s child-care department since you specialize it that are. For example, with Diapers.com, Lore’s team was isolated from the Amazon hierarchy and not able to contribute outside of the shell of the diapers.com brand. This approach was applied for most of Amazon’s acquisitions of note; for example, Zappoos. It’s much better to be integrated or you’ll be isolated.
2) Before launching a startup, consider offering customers equity in the firm in exchange for them getting other people to sign up for your service. The catch here is that these customers have to have confidence in the firm’s ability to realize equity gains. The customer that added the most new customers got $1 million worth of Jet.com equity when it was sold to Wal-Mart.
3) Employee salary transparency helps boost the sense of fairness amongst employees. So every employee should know how much every one else is making on their level and should also know how much the CEO and C-Suite staff are making. A sense of fairness is ideal; equality and prevents unconscious gender bias in negotiating salaries that (since there is pure transparency) do not need to happen.
4) Get the customer to help buy products based on other products that a logistically available to them in the distribution centre. Imagine you want to buy…diapers, well if the same distribution centre ALSO carries baby tooth brushes, then the system will provide a discount of say 10% on tooth brushes since the customer will be able to select the tooth brush and the diapers in one basket rather than waiting for a lawnmower which is at another distribution centre. This bundling of purchases is customer led and facilitated through discounts that motivate strategic purchasing which drives down the cost of shipping. Brilliance or bullshit, either way Wal-Mart bought Jet.com for $3 billion.
5) Being a CFA is critical to being at the table in negotiating mergers, acquisitions and other deals. Marc Lore worked 7 years in Investment Banking before returning to his roots to start his first company. It’s a critical skill set that anyone serious about leadership in business should consider even if they aren’t going to go into Investment Banking or the like.
How a combustion engine really works
Oh so that’s how that works! Quiet interesting to see how the chambers work in unison.
Walt Disney: Departmentalize By Perceived Skills (back then gender was a proxy) / Furnish Your Personal Brand
Lesson: Departmentalize Perceived Capabilities By Gender & Exploit Menial Labour? Oh My: Speaking from a place of white privilege (real and imagined); I can say this letter is unacceptable by today’s standards [insert date/time/year here], obviously. Disney was only training young men? Rejecting women applicants out of turn? Would it have been a dangerous work environment for a young lady to work in? Taking a step back, the above letter is appalling and yet beautifully illustrated at the same time, so there is a silver lining: likely photo duplicated illustrations. This letter exemplifies what might have been happening all the time in an era where it was socially acceptable for women to be considered for only certain functions AND there was a sort of human resource logic that technically still exists today around “skills and capabilities” based hiring.
Would the female applicant have got the role if she had a specific portfolio of drawings mailed in as well? Is that even practical to mail in? We know logically life is not fair and that if you want a job you need to present your value add right out of the gate, regardless of the era. Here is what was going on in the HR manager’s mind: “I have five minutes to decide if I will hire you, you didn’t do cartooning in another studio and you’re from a monolithic group identity that doesn’t align with our goals / workflow / pin-ups in the kitchen / division of labour therefore no job for you” – Disney HR manager. This still happens today all the time in multiple directions, not hiring men at the nail salon etc! Career changers have a difficult time because they don’t have a track record and hiring manager don’t want to risk hiring the wrong person. HR is about making assumptions about the applicant + previous roles + filtering GPA + other variables. Remember that HR stands for Human Roadblock.
A little background, Burbank Studio opened in 1940. All executive and artists were men. Women were in the inking and painting department exclusively. This menial work was demeaning according to many. You were timed to see how quickly you painted and inked the cellophane. Once a women turned 30, it was well known that her hands ‘would be too shaky’ to continue working on inking. Seems like an abrupt logic around a specific age here; kind of like the drinking age laws (if only we could measure maturity!)….Anyway, Walt Disney has been called a racist from a small town in some re-tellings. Walt Disney had prejudices and was considered to be anti-sematic although this is only hearsay. In an unsavoury staff meeting, Disney actively warned the women in Ink and Paint from trying to get in bed with their animator staff. I guess, back then, work was pretty segregated. The men probably couldn’t be trusted to handle themselves around young women so better to blame the victim? Other controversies include the fact that P.L. Travers apparently completely hated Mary Poppins the film and that the recent Saving Mr. Banks is a complete whitewash of what happened in reality.
I digress. Life is not fair and no human-managed-entity can correct that unfairness without displacing others, hence my pro-AI perspective.
Furnish Your Personal Brand: back in the 1930s, you would address your superior by their surname. Walt Disney famously asked that people refer to him as “Walt” or “Uncle Walt”. In old news footage, it was revealed that ABC Disneyland Episodes were shot in colour because Disney knew that colour was going to be the future of television. From all his brand management work, Disney had built up his image as an Uncle to children around the world. The reality was quite stark but that doesn’t seem to matter much now. Any cruelty or prejudice exacted by Disney is counter-balanced by the most impactful children’s entertainment around. A good brand can withstand a lot with the right kind of Public Relations.