11–20 of 34 posts
Yup, that is why I bought Amazon stock in 2005 (really, from an interview that was very similar to this one). Jeff Bezos talks about long term thinking and also executes on it. I think it also relates to the point made a few weeks ago about Silicon Valley being ADD in some respects -- chasing the hottest new thing, rather than conscientiously building value over years. I think someone said something about Bezos choos…
Yup, that is why I bought Amazon stock in 2005 (really, from an interview that was very similar to this one). Jeff Bezos talks about long term thinking and also executes on it. I think it also relates to the point made a few weeks ago about Silicon Valley being ADD in some respects -- chasing the hottest new thing, rather than conscientiously building value over years. I think someone said something about Bezos choos…
I agree, though, zero sales tax certainly plaid a role, too.
WA doesn't have an income tax (if that's what you actually meant).
I'd add to this: the most sure fire way to dominate a market is by executing with a combination of skills that do not naturally tend to go together. Google succeeded by combining high quality software engineering with cutting edge computer science research and beyond state-of-the-art data center operations. Apple succeeded by combining solid software engineering with equally solid internet services engineering and mo…
Sadly, companies that are good at two things have a very difficult time getting funded. My own company, Fohr, has made it to the full partner round at one very highly-respected VC firm, but because we're in two industries (tech and film), and innovating in both, we're in a no-mans land for funding. :(
Earlier quoted context omitted.
I agree, though, zero sales tax certainly plaid a role, too.
Zero sales tax where? WA has a 7.6% state sales tax and individual counties have added on top of that. WA doesn't have an income tax (if that's what you actually meant).
Seattle is the exception, for obvious reasons.
Most of these points strike me as contrary to traditional lean startup advice--e.g. it's ok to expend a huge amount of resources without seeing results for 5-7 years, and it's important to be first in a big market. Obviously, this worked for Amazon, and there are some opportunities you won't be able to take advantage of in any other way, but it's certainly high risk. I mean, Pets.com arguably followed much of this ad…
I humbly suggest that many people that share this worldview and attempted to execute based on it have failed. This advice is as worthwhile as 'lean startup advice': there are no guarantees, it depends on many factors and most will fail.
I'd add to this: the most sure fire way to dominate a market is by executing with a combination of skills that do not naturally tend to go together. Google succeeded by combining high quality software engineering with cutting edge computer science research and beyond state-of-the-art data center operations. Apple succeeded by combining solid software engineering with equally solid internet services engineering and mo…
Agree this is a great point. Sadly, companies that are good at two things have a very difficult time getting funded. My own company, Fohr, has made it to the full partner round at one very highly-respected VC firm, but because we're in two industries (tech and film), and innovating in both, we're in a no-mans land for funding. :(
Without a solid track record of success I can imagine it might be difficult to convince outsiders of the merits of a company that is more unusual than its competitors. I think the solution to that is the same as always, keep efficient and execute well until you acquire the profit or the funding to grow.
Most of these points strike me as contrary to traditional lean startup advice--e.g. it's ok to expend a huge amount of resources without seeing results for 5-7 years, and it's important to be first in a big market. Obviously, this worked for Amazon, and there are some opportunities you won't be able to take advantage of in any other way, but it's certainly high risk. I mean, Pets.com arguably followed much of this ad…
But Amazon built something that was viable immediately AND fit into a 5-7 year plan.
Even if it's a few bucks more compared to some other site, I just trust them not to screw me over.