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Provided by explosiveskull
https://twitter.com/kaboomskull
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What do we think of
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when we hear the
word Amazon today?
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Along with Google, Apple,
Microsoft, and Facebook
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Amazon is one of the
big five companies
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in the U.S tech industry.
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It has become one of the
most influential companies
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in the world, as well as
the most valuable brand.
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In 2018 it surpassed 100
million subscribers worldwide.
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So what did it take to build
such a revolutionary business?
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Well, it took someone
like Jeff Bezos.
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The American audacious
entrepreneur.
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One of the world's
richest business leaders,
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and founder of the
giant tech company,
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and the world's
largest marketplace.
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As of February, 2021
he was reported to be
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the second richest
person in the world.
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With an estimated worth of
$185 billion after Elon Musk.
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What makes a smart business?
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Start with the customer
and work backwards?
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Are Bezos' words.
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Today, the impact on
online retail is greater
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than it's ever been before.
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Take a journey into how
Bezos built the giant
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that has changed the world.
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And shapes our culture
and society today.
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They are masterminds, ambitious,
competitive, and ruthless.
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Not afraid of failure.
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Dedicated to their mission
of bettering the world.
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Always reaching for excellence.
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They lead by example.
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Unlike many industries
the tech billionaires
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are mostly self-made.
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It is through their genius
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that they revolutionize
the industry.
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And together they
change the world.
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Join us in this series.
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As we take a look at some of
the wealthiest entrepreneurs
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in the modern world.
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The tech billionaires,
Bill Gates, Elon Musk,
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Mark Zuckerberg and Jeff Bezos.
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Together they're
worth a collective
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of more than 900
billion U.S dollars.
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They will be
remembered in history
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as the most influential
people of the 21st century.
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Jeffrey Preston Jorgensen was
born on January 12th, 1964
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in Albuquerque, New Mexico.
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To a teenage mother Jacqueline
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and his biological
father, Ted Jorgensen.
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When he was born his
mother was just 17
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and still in high school.
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His 18 year old father
didn't have much money
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and had alcohol issues.
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The Jorgensens were
married less than a year
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before Jacqueline left, taking
their infant son with her.
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When Bezos was four years old
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his mother remarried
Miguel Bezos.
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A Cuban refugee who had
fled an oppressive regime
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and who didn't speak
a word of English
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when he first arrived
a few months back.
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But with a strong work ethic
and determination in life.
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He worked his way to
University of Albuquerque
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to obtain a degree in
mechanical engineering.
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Which led him to get a
job later on at Exxon,
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as an engineer.
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Miguel decided to adopt
Jeff after the wedding
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and took the responsibility
to raise him.
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His surname was then
changed to Bezos.
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The family then moved
to Houston, Texas,
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where Jeff spent most
of his childhood.
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Much of Jeff Bezos
drive and ambition
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likely came from his new father.
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He's been a constant
inspiration for him.
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Jeff was a gifted child.
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It had been said that at
the age of only three,
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tired of sleeping in a
crib, he found a screwdriver
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and took the crib apart.
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He then moved to Miami with
his family as a teenager.
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Where he attended
Palmetto high school.
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He was a brilliant
student, got straight A's
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and was valedictorian
of his class.
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Bezos showed early signs
of technical proficiencies.
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He quickly developed a
passion for computers
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and excelled at creating
software programs.
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As an avid young innovator,
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he turned his parents'
garage into a laboratory
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and experimented around
his house as a child.
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Young Jeff was always
inventing something.
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Once he invented a solar
microwave and even a door buzzer
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to keep his siblings
out of his room.
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It was during high
school that he started
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his first business,
The dream Institute.
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An educational summer camp
that promoted creative thinking
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for young students.
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After graduating with
honors from high school
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he briefly turned to physics.
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Before committing to
his love for computers.
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And he graduated from
Princeton University in 1986
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with a high distinction in
electrical and computer science.
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Bezos childhood may
have contributed
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to his obsession with success.
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And maybe it helped him
create that drive and ambition
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and a relentless need
to prove himself.
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Being adopted is something
that Bezos shares
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with two other great
internet entrepreneurs.
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Steve Jobs, and Larry Ellison.
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After his graduation
at Princeton
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he took on various jobs
that helped him develop
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his entrepreneurial
spirit even more.
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At 28 Bezos was working
for the investment firm
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D.E Shaw in Wall Street,
Manhattan as a computer specialist.
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He soon became the firm's
youngest senior vice president.
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There he met novelist
McKenzie Tuttle
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who was a research
associate at the firm.
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She soon became his wife as the
couple married a year later.
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They would have four children.
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Three sons and a daughter
they adopted from China.
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During the rise of the
internet in the 1990s
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Bezos noticed that it was
growing at an incredible rate.
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More than 2300% a year.
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And he saw its
enormous potential.
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He had never seen anything
that grew that fast.
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This sparked his imagination
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and he embarked on the
entrepreneurial path.
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His first steps were
to research the top 20
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mail order companies
at the time.
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Observing that
something was missing,
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he saw an opportunity
on the horizon.
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He decided that an online
company could offer
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this missing service.
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And what was the first best
product to sell online?
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Books?
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Indeed, there were no book
mail order companies yet.
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In 1994, having had always
been an avid reader.
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Bezos decided to establish
an online bookstore.
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Against his parents and even
as boss's advice to reconsider,
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he left his job at D.E Shaw
to start his own company at 30
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and decided to leave New York.
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At this time, Bill Gates was
already dominating the world
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of personal computers
with Microsoft,
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from his hometown of Seattle.
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Bezos decided to move
there with his wife.
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Seems there was plenty
of tech talent around.
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He saw it as a place of
opportunity and new beginnings.
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He was aware that most
startups don't work,
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and wasn't confident and
sure of what would happen.
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People were saying
that the company
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would never be profitable.
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but Bezos decided to
take the leap anyway.
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His parents also ended up
to support his decision
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and invested what they'd
saved for retirement
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in their sons venture.
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It was later amply rewarded.
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After writing his business plan
on a cross country road trip
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from New York City to Seattle,
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Bezos and his wife settled into
their new home in Bellevue.
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And their new home
became his office.
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He began developing the
software for the site
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in his garage with a
handful of employees.
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There was not much
investment in the beginning
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and Bezos would
drive the packages
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to the post office himself.
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He even had his desk made
from doors to save money.
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This was one of his main
principles, frugality.
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We try not to spend
money on things
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that don't matter to customers.
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On July 6th 1995, a few
months later after moving
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the startup sold its first book
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and Bezos new business
was launched, Amazon.
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Named after the South American
biggest river in the world.
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And it started in a garage.
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With financial and moral
support from family and friends.
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They started
shipping more books.
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Sales took off immediately.
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By 1996 the company reached
$15.7 million in sales.
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Within the first few days I
knew this was going to be huge.
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Bezos told Time Magazine.
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It was obvious that we were
onto something much bigger
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than we'd ever dared to hope.
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In 1997, three years
after it was founded
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Amazon went public with
an IPO of $18 per share.
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After raising $54 million,
Bezos became a millionaire.
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At the end of trading
day on February, 2020
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shares closed at more
than $2,000 each.
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Making such an
investment at his IPO
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worth more than 12 million
pounds as of May, 2020.
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In other words, if you invested
in Amazon in its early days
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you too would have been
a millionaire today.
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He had warned many
early investors
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that there was a 70% chance
that Amazon would fail,
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or go bankrupt.
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But the employees
worked hard and Bezos,
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even harder to drive them.
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The company grew fast into
a large worldwide business.
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Bezos later claimed Amazon is
the earth's biggest bookstore.
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Although Amazon was
originally an online bookstore
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Bezos had always planned to
expand to other products.
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In 1998, it started
selling music and videos.
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One day he emailed randomly
1000 selected customers
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to see what else
they would wanna buy
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from the online retailer.
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Unsurprisingly, the list
came back incredibly long.
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The now self-made billionaire
recalled one person
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writing back windshield
wiper blades,
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because I really need
windshield wiper blades.
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He then realized he could
sell anything this way.
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Thanks to an email to
1000 random people.
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Amazon turned into the everything
store the following year.
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It also began selling a
variety of other goods,
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including consumer electronics,
home improvement items,
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software games, and toys.
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In other words,
anything and everything
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that customers
might need and want.
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He understood consumer
behavior and noticed
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that people were very
convenience motivated.
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In 1999 Bezos became
a billionaire at 35.
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At the height of his career,
time magazine named him
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it's person of
the year for 1999.
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Proclaiming him king
of cyber commerce.
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The success of Amazon
encouraged other retailers,
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including major book chains
to establish online stores.
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He set the trend for the future.
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Nowadays, if you don't
have a business online
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you don't have a business.
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By the end of 1999,
Amazon had become
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a multi-billion
dollar corporation.
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After expanding and setting
up operations in Europe.
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With less than
three weeks until Christmas.
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Most of us will be braving
the crowds in the coming days
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in the search for presents.
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But Christmas shopping doesn't
have to be so traumatic.
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This year more people than
ever will buy their gifts
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without moving from the seats.
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But how easy is
internet shopping?
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I tested the system
by ordering a book
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from the online
bookseller Amazon.
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Within minutes of placing
my order at my desk.
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It's been printed out at
Amazon's warehouse in Berkshire.
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A packer then finds the book
from the company's stock room.
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And just a few hours
after the order is placed
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the book is dispatched
and on its way.
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The next day it arrived
here at the office.
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This is really an
educational process.
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This is something new
it's revolutionary.
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It's something that
people are not used to.
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But the growth in the
market that we've identified
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shows that they're
quickly learning.
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And it's becoming
increasingly important.
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As part of retailing
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00:15:00,565 --> 00:15:02,925
Growth of sales on the
internet are set to explode
251
00:15:02,965 --> 00:15:04,325
in the next five years.
252
00:15:04,364 --> 00:15:06,364
There's already a great
deal of price competition,
253
00:15:06,404 --> 00:15:08,284
among conventional retailers.
254
00:15:08,325 --> 00:15:09,965
This year, they'll be
looking over their shoulders
255
00:15:10,004 --> 00:15:12,604
at that rivals of
the virtual realm.
256
00:15:19,325 --> 00:15:23,165
However, with
success came adversity.
257
00:15:23,205 --> 00:15:26,004
The company became involved
in several notable lawsuits,
258
00:15:26,045 --> 00:15:29,125
filed by Barnes &
Noble and Walmart,
259
00:15:29,165 --> 00:15:31,085
but none of the
problems compared
260
00:15:31,124 --> 00:15:33,364
to the biggest challenge of all.
261
00:15:33,404 --> 00:15:35,244
Making the company profitable.
262
00:15:36,764 --> 00:15:41,324
In 2000 Bezos and the company
were put to the ultimate test.
263
00:15:41,364 --> 00:15:44,244
The stock fell significantly.
264
00:15:44,284 --> 00:15:47,084
Though spent millions
developing its software,
265
00:15:47,124 --> 00:15:51,924
Amazon lost money every year
and a total of $2.8 billion,
266
00:15:53,685 --> 00:15:57,085
and was operating on negative
cashflow since it was founded.
267
00:15:58,404 --> 00:16:02,044
In January, 2001 to
deal with the crisis,
268
00:16:02,085 --> 00:16:05,325
the company was forced
to take drastic measures.
269
00:16:05,364 --> 00:16:07,364
It laid off 1300 workers
270
00:16:07,404 --> 00:16:10,244
and had to close
distribution centers.
271
00:16:10,284 --> 00:16:12,084
It nearly went bankrupt
272
00:16:17,604 --> 00:16:19,764
But Bezos was unstoppable.
273
00:16:25,445 --> 00:16:27,604
Through his and
his team's efforts.
274
00:16:27,644 --> 00:16:30,845
Amazon rebounded from
financial instability.
275
00:16:31,725 --> 00:16:33,565
The cutback worked.
276
00:16:35,085 --> 00:16:39,085
Amazon turned his first ever
net profit later in 2001.
277
00:16:39,124 --> 00:16:42,004
As sales grew 15%.
278
00:16:42,045 --> 00:16:45,325
However, it was small
and barely counted.
279
00:16:45,364 --> 00:16:48,884
It took Amazon more than
18 years to catch Walmart
280
00:16:48,925 --> 00:16:52,725
in market cap, but only
two years to double it.
281
00:16:54,325 --> 00:16:57,525
The company continued his
expansion efforts in 2002,
282
00:16:58,604 --> 00:17:01,004
and it has been
profitable ever since.
283
00:17:02,325 --> 00:17:06,605
It not only survive the 2000
crisis, but it flourished.
284
00:17:14,365 --> 00:17:18,125
Bezos saw the big picture
and he defied the skeptics
285
00:17:18,165 --> 00:17:20,004
proving that his unconventional
286
00:17:20,044 --> 00:17:21,725
business model could succeed.
287
00:17:41,605 --> 00:17:43,525
Liquid hydrogen.
288
00:17:43,564 --> 00:17:45,124
Why are we using
liquid hydrogen?
289
00:17:45,165 --> 00:17:46,764
This is not how
290
00:17:46,804 --> 00:17:48,884
to ourselves, because
we wanna be able
291
00:17:48,925 --> 00:17:51,085
to survive Lunar night.
292
00:17:52,564 --> 00:17:54,684
It's what's used to lower
things off of the deck
293
00:17:54,725 --> 00:17:56,324
under the surface of the moon.
294
00:17:59,044 --> 00:18:02,925
This is an incredible vehicle,
and it's going to the moon.
295
00:18:04,365 --> 00:18:07,605
Now we have mapped the
entire moon in great detail.
296
00:18:07,645 --> 00:18:11,885
We can use that as preexisting
maps to tell the system,
297
00:18:11,925 --> 00:18:13,524
it's a machine learning system,
298
00:18:13,564 --> 00:18:16,124
to tell the system what
it should be looking for
299
00:18:16,165 --> 00:18:18,284
in terms of craters
and other features.
300
00:18:18,324 --> 00:18:20,004
And it navigates
relative to that.
301
00:18:22,365 --> 00:18:23,685
It's time to go
back to the moon.
302
00:18:23,725 --> 00:18:25,004
This time to stay
303
00:18:44,764 --> 00:18:46,124
Conquering
the internet,
304
00:18:46,165 --> 00:18:47,685
reinventing the book trade
305
00:18:47,725 --> 00:18:50,084
and becoming one of
the world's richest men
306
00:18:50,125 --> 00:18:52,525
would be enough for most.
307
00:18:52,564 --> 00:18:54,604
But Bezos is now
shooting for the stars
308
00:18:54,645 --> 00:18:59,085
with an even bigger
plan, colonizing space.
309
00:19:01,405 --> 00:19:04,565
As if building an empire
on earth wasn't enough.
310
00:19:09,564 --> 00:19:12,804
In September, 2000,
aside from Amazon,
311
00:19:12,844 --> 00:19:15,364
Bezos founded Blue Origin.
312
00:19:15,405 --> 00:19:17,165
The human space flight company
313
00:19:17,205 --> 00:19:19,324
focused on commercial
space travel.
314
00:19:22,004 --> 00:19:25,484
As a Star Trek fan he had
expressed for a long time
315
00:19:25,524 --> 00:19:27,844
an interest in creating
the SciFi future
316
00:19:27,885 --> 00:19:30,085
he'd fallen in love
with as a child.
317
00:19:31,324 --> 00:19:34,124
When he was just
five he fell in love
318
00:19:34,165 --> 00:19:36,484
with the idea of
space exploration.
319
00:19:38,685 --> 00:19:40,445
As he watched Neil Armstrong
320
00:19:40,484 --> 00:19:42,284
take a first step onto the moon.
321
00:19:56,524 --> 00:19:59,165
Jesus claimed that the
primary goal of Blue Origin
322
00:19:59,205 --> 00:20:02,484
is to preserve the
natural resources of earth
323
00:20:02,524 --> 00:20:05,804
by making the human
species multiplanetary.
324
00:20:10,324 --> 00:20:12,924
Excited to announce
that we have put together
325
00:20:12,965 --> 00:20:16,885
a national team to
go back to the moon.
326
00:20:16,925 --> 00:20:19,524
And this is the kind of
thing it's so ambitious.
327
00:20:19,564 --> 00:20:21,564
It needs to be
done with partners.
328
00:20:21,605 --> 00:20:24,485
This is the only way to
get back to the moon fast.
329
00:20:24,524 --> 00:20:26,124
And this time we're
going back to the moon
330
00:20:26,165 --> 00:20:28,085
and we're not going back
to the moon to visit.
331
00:20:28,125 --> 00:20:30,525
We're going back to
the moon to stay.
332
00:20:30,564 --> 00:20:34,284
And we want to have a civilization
of growth and dynamism
333
00:20:34,324 --> 00:20:37,564
which means we need to
be able to expand out
334
00:20:37,605 --> 00:20:39,565
into the solar system.
335
00:20:39,605 --> 00:20:42,525
There are so many resources
there that we can continue
336
00:20:42,564 --> 00:20:44,524
to do interesting things
and continue to use
337
00:20:44,564 --> 00:20:46,604
large amounts of
energy and so on.
338
00:20:46,645 --> 00:20:48,885
It's just, we probably can't
do that on this planet.
339
00:20:48,925 --> 00:20:50,325
So my long-term prediction,
340
00:20:50,365 --> 00:20:51,725
and this is gonna take
hundreds of years.
341
00:20:51,764 --> 00:20:55,604
So don't worry, prematurely
earth will end up being zoned
342
00:20:55,645 --> 00:20:57,764
residential and light industry.
343
00:20:57,804 --> 00:21:00,564
And all the heavy industry
will be done in space.
344
00:21:01,764 --> 00:21:04,284
In 2011,
their first test launch
345
00:21:04,324 --> 00:21:06,324
wasn't a success.
346
00:21:06,365 --> 00:21:10,245
The rocket crashed, but
it fueled their need
347
00:21:10,284 --> 00:21:11,564
to make progress.
348
00:21:16,524 --> 00:21:18,965
What we need is to
reuse the hardware
349
00:21:19,004 --> 00:21:21,364
over and over and over again.
350
00:21:21,405 --> 00:21:23,764
And it can't be fake usability
351
00:21:23,804 --> 00:21:28,484
where you bring the vehicle
back and inspect everything.
352
00:21:28,524 --> 00:21:30,884
X-ray everything,
disassemble everything
353
00:21:30,925 --> 00:21:32,764
and then put it
all back together.
354
00:21:32,804 --> 00:21:34,804
That's not real reusability.
355
00:21:34,844 --> 00:21:38,084
You have to land
refuel and fly again.
356
00:21:38,125 --> 00:21:40,165
Our ability to get
into earth's orbit
357
00:21:40,205 --> 00:21:42,965
is kind of right on the
edge of what's possible
358
00:21:43,004 --> 00:21:45,764
even when you do it in
an expendable fashion.
359
00:21:45,804 --> 00:21:49,124
So when you add the extra
mass and systems landing gear
360
00:21:49,165 --> 00:21:51,484
and so on required
for reusability
361
00:21:51,524 --> 00:21:53,925
you're making your engineering
challenge even harder.
362
00:21:53,965 --> 00:21:56,445
But it's worth it
and it's possible.
363
00:21:56,484 --> 00:21:58,405
And that's what we
need to achieve.
364
00:21:58,445 --> 00:22:02,804
So that's why I
started Blue Origin.
365
00:22:02,844 --> 00:22:06,324
I think it's the most
important work I'm doing.
366
00:22:06,365 --> 00:22:09,125
If I look over the
really long term.
367
00:22:10,725 --> 00:22:14,685
Fortunately the second
test flight was a success.
368
00:22:14,725 --> 00:22:17,125
The New Shepard, a
multi passenger rocket
369
00:22:17,165 --> 00:22:21,004
reached space in
2015 and afterwards
370
00:22:21,044 --> 00:22:23,524
successfully landed
back on earth.
371
00:22:24,605 --> 00:22:27,645
Bezos is aiming to
make space travel safer
372
00:22:27,685 --> 00:22:29,725
and more affordable.
373
00:22:29,764 --> 00:22:32,604
In July, 2018, it was announced
374
00:22:32,645 --> 00:22:35,445
that he had priced commercial
space flight tickets
375
00:22:35,484 --> 00:22:38,125
around $300,000 per person.
376
00:22:39,365 --> 00:22:43,565
Since 2016, he has been
investing $1 billion
377
00:22:43,605 --> 00:22:47,645
per year from his Amazon
winnings into Blue Origin.
378
00:22:47,685 --> 00:22:50,764
In an effort to support
his ambitious goals.
379
00:22:51,685 --> 00:22:54,605
He has been compared
to Elon Musk.
380
00:22:54,645 --> 00:22:57,605
As the billionaire
also prioritize rockets
381
00:22:57,645 --> 00:22:59,645
among his business interests.
382
00:22:59,685 --> 00:23:01,885
Their intergalactic rivalry
383
00:23:01,925 --> 00:23:04,565
is fueling the
modern space race.
384
00:23:05,844 --> 00:23:08,684
For Bezos, this is
a childhood dream.
385
00:23:09,685 --> 00:23:12,645
If I'm 80 years old,
looking back on my life.
386
00:23:12,685 --> 00:23:15,445
And the one thing I've
done is to make it
387
00:23:15,484 --> 00:23:18,804
so that there's this gigantic
entrepreneurial explosion
388
00:23:18,844 --> 00:23:21,684
in space for the next
generation, said, Bezos
389
00:23:22,764 --> 00:23:25,205
I will be a happy, happy man.
390
00:23:27,725 --> 00:23:31,445
But he had more terrestrial
innovations on his mind as well.
391
00:23:35,804 --> 00:23:37,284
Doug we're very
proud to have you,
392
00:23:37,324 --> 00:23:39,324
and you're a great
stars associated
393
00:23:39,365 --> 00:23:41,205
with RKO Video Pictures.
394
00:23:41,244 --> 00:23:43,484
We're very proud
to be with RKO.
395
00:23:43,524 --> 00:23:44,925
Would you like to
meet your new stars?
396
00:23:44,965 --> 00:23:46,605
I certainly would.
397
00:23:46,645 --> 00:23:49,965
Of course you know this
fella here, Mickey Mouse.
398
00:23:50,004 --> 00:23:50,804
Hello Mickey.
399
00:23:52,004 --> 00:23:53,645
Say hello to Mr
Mickey.
400
00:23:53,685 --> 00:23:55,725
Hello , hi.
401
00:24:00,925 --> 00:24:03,925
In 2003, Jeff
Bezos named Walt Disney
402
00:24:03,965 --> 00:24:05,725
as one of his heroes.
403
00:24:05,764 --> 00:24:08,324
Although he was no
Mickey Mouse fan.
404
00:24:13,764 --> 00:24:15,725
Instead he was
fascinated with how
405
00:24:15,764 --> 00:24:18,364
the animation industry
pioneer came up
406
00:24:18,405 --> 00:24:20,325
with the electronics
and animatronics
407
00:24:20,365 --> 00:24:23,205
used in Disney World
in Orlando, Florida.
408
00:24:27,365 --> 00:24:30,845
Bezos admired the way Disney
had a powerful vision.
409
00:24:30,885 --> 00:24:33,725
And did everything
to build his dream.
410
00:24:41,244 --> 00:24:44,564
He said the best thing
that always amazed me
411
00:24:44,605 --> 00:24:47,405
was how powerful his vision was.
412
00:24:47,445 --> 00:24:49,965
He knew exactly what
he wanted to build
413
00:24:50,004 --> 00:24:52,925
and teamed up with a bunch
of really smart people
414
00:24:52,965 --> 00:24:53,804
and built it.
415
00:24:59,804 --> 00:25:01,564
Well, I think what
you're starting to see
416
00:25:01,605 --> 00:25:04,765
is some real differentiation
between internet companies
417
00:25:04,804 --> 00:25:06,844
that are trying to
build lasting companies.
418
00:25:06,885 --> 00:25:09,845
And I've certainly consider
amazon.com, one of those.
419
00:25:09,885 --> 00:25:11,965
And companies that were
trying to build stocks,
420
00:25:12,004 --> 00:25:14,284
trying to ride the
momentum of the internet.
421
00:25:14,324 --> 00:25:16,604
And so one of the things
that you see for example
422
00:25:16,645 --> 00:25:19,365
is a lot of internet
companies now raising prices.
423
00:25:19,405 --> 00:25:21,805
Realizing that the things
they were doing before
424
00:25:21,844 --> 00:25:23,604
just weren't sustainable.
425
00:25:23,645 --> 00:25:25,805
At Amazon we're actually
lowering prices.
426
00:25:25,844 --> 00:25:29,324
We just reviewed our top 1000
best-selling electronics,
427
00:25:29,365 --> 00:25:31,405
and actually decided our
prices were too high.
428
00:25:31,445 --> 00:25:32,965
We're lowering those.
429
00:25:33,004 --> 00:25:34,445
So we're actually
doing the opposite.
430
00:25:34,484 --> 00:25:35,365
And I think you're gonna see
431
00:25:35,405 --> 00:25:36,925
a lot of differentiation there.
432
00:25:36,965 --> 00:25:39,445
Companies like amazon.com
working to build
433
00:25:39,484 --> 00:25:40,925
important lasting companies,
434
00:25:40,965 --> 00:25:43,645
not sort of flash in
the pan internet stock.
435
00:25:50,004 --> 00:25:52,084
By 2005,
Amazon was offering
436
00:25:52,125 --> 00:25:56,325
a vast range of products and
a diversified even further
437
00:25:56,365 --> 00:26:01,005
in 2006 by introducing
Amazon Web Services.
438
00:26:01,044 --> 00:26:03,244
A cloud computer service.
439
00:26:03,284 --> 00:26:06,844
It eventually became the largest
such service in the world.
440
00:26:08,125 --> 00:26:11,965
That same year it revealed
a revolutionary new program.
441
00:26:12,004 --> 00:26:15,364
Amazon Prime, which
offered customers
442
00:26:15,405 --> 00:26:18,365
to have the product delivered
to their door in two days
443
00:26:18,405 --> 00:26:21,165
and later one day
for a yearly fee.
444
00:26:22,365 --> 00:26:23,645
It has become the
most successful
445
00:26:23,685 --> 00:26:26,244
membership program in history.
446
00:26:26,284 --> 00:26:30,445
More than 150 million users
would sign up for free shipping.
447
00:26:31,885 --> 00:26:33,885
In 2007, Amazon launched
448
00:26:33,925 --> 00:26:37,405
a new groundbreaking
product the Kindle.
449
00:26:37,445 --> 00:26:40,405
A digital book reader
with internet connection
450
00:26:40,445 --> 00:26:43,085
that allowed them to
sell books online.
451
00:26:43,125 --> 00:26:46,125
And enabled customers
to buy, download, read
452
00:26:46,165 --> 00:26:49,445
and store a vast collection
of books on demand.
453
00:26:51,004 --> 00:26:54,925
Accessible,
interactive, limitless.
454
00:26:57,605 --> 00:26:59,685
Mr and Mrs Brown
first met Pennington
455
00:26:59,725 --> 00:27:01,004
on a railway platform.
456
00:27:02,004 --> 00:27:03,205
It's a
daunting new world
457
00:27:03,244 --> 00:27:06,004
for the traditionalist
but child's play
458
00:27:06,044 --> 00:27:07,965
for the download generation.
459
00:27:08,004 --> 00:27:09,885
It's easier than
going into a library
460
00:27:09,925 --> 00:27:11,524
and searching through.
461
00:27:11,564 --> 00:27:13,124
I often have like
six or seven books
462
00:27:13,165 --> 00:27:14,685
to take with me to school.
463
00:27:14,725 --> 00:27:16,725
If I've got them all on here,
I just have to carry this.
464
00:27:16,764 --> 00:27:19,884
But there's something more
personal about getting a book.
465
00:27:19,925 --> 00:27:21,925
And you know, you can pass
them down to generations.
466
00:27:21,965 --> 00:27:23,965
Whereas these you've just
got it all stored on there
467
00:27:24,004 --> 00:27:25,925
and there's nothing
exciting about it.
468
00:27:25,965 --> 00:27:27,885
No one in
the industry is suggesting
469
00:27:27,925 --> 00:27:30,885
that the conventional
bookshop is dead.
470
00:27:30,925 --> 00:27:34,004
And digitization would
be anathema to some.
471
00:27:34,044 --> 00:27:36,324
Real convenient,
real easy to use.
472
00:27:36,365 --> 00:27:39,005
You can change the font
size to suit your eye.
473
00:27:39,044 --> 00:27:40,965
You can just flip
the pages through.
474
00:27:41,004 --> 00:27:44,564
So folks are finding the product
itself really convenient.
475
00:27:44,605 --> 00:27:48,045
And of course it's delivered
in a very convenient way.
476
00:27:48,084 --> 00:27:50,844
The electronic market
is really booming.
477
00:27:50,885 --> 00:27:55,244
We're seeing 600% growth year
on year on eBooks this year.
478
00:27:55,284 --> 00:27:59,284
And that this is a frankly
stagnant book selling market.
479
00:27:59,324 --> 00:28:01,004
So I think we're seeing
massive growth there.
480
00:28:01,044 --> 00:28:02,965
We're seeing rapid
adoption of e-reading
481
00:28:03,004 --> 00:28:05,564
as a way of consuming content.
482
00:28:05,605 --> 00:28:08,525
The technology means
authors like Sophie Nichols
483
00:28:08,564 --> 00:28:11,484
can circulate their work
without a publisher.
484
00:28:11,524 --> 00:28:13,725
One of her eBooks
became a bestseller.
485
00:28:13,764 --> 00:28:17,324
I've been able to put a
book together, get it edited.
486
00:28:17,365 --> 00:28:19,525
And proof-read myself
put it out there,
487
00:28:19,564 --> 00:28:21,564
literally with the
click of a few buttons.
488
00:28:21,605 --> 00:28:23,565
It's so simple to do.
489
00:28:23,605 --> 00:28:25,085
And start connecting
with readers.
490
00:28:25,125 --> 00:28:27,165
So I'm connecting with
thousands of readers.
491
00:28:27,205 --> 00:28:30,445
It's so exciting from a
revenue point of view.
492
00:28:30,484 --> 00:28:32,324
There'll
be those who say
493
00:28:32,365 --> 00:28:33,885
we'll never really catch on.
494
00:28:33,925 --> 00:28:36,725
All the evidence points to
the fact that it already has.
495
00:28:38,844 --> 00:28:42,004
After revolutionizing,
the way we buy books
496
00:28:42,044 --> 00:28:45,244
he transformed the way
we read them as well.
497
00:28:46,804 --> 00:28:49,364
The first major challenge
to the Kindle supremacy
498
00:28:49,405 --> 00:28:53,004
was when Apple introduced
its iPad tablet.
499
00:28:53,044 --> 00:28:55,644
But Bezos responded aggressively
500
00:28:55,685 --> 00:28:58,165
cutting the price and
adding new features.
501
00:28:59,645 --> 00:29:04,244
From 2002 to 2007 his net worth
quadrupled to $8.7 billion.
502
00:29:07,685 --> 00:29:12,685
After the financial crisis of
2008, his net worth decreased.
503
00:29:13,524 --> 00:29:15,205
But it Rose again in 2010.
504
00:29:16,844 --> 00:29:20,684
In 2010, Amazon announced
that sales of Kindle books
505
00:29:20,725 --> 00:29:23,004
had surpassed those
of hardcover books.
506
00:29:24,165 --> 00:29:26,045
That same year, Amazon
moved into making
507
00:29:26,084 --> 00:29:28,684
its own television
shows and movies,
508
00:29:28,725 --> 00:29:31,044
with its Amazon
Studios division.
509
00:29:32,484 --> 00:29:37,484
From 1995 to 2018 Amazon
net sales increased
510
00:29:38,645 --> 00:29:42,605
from $510,000 to
almost $233 billion.
511
00:29:45,764 --> 00:29:50,364
In early 2013 and originally
secret deal sent ripples
512
00:29:50,405 --> 00:29:52,605
through the tech industry.
513
00:29:52,645 --> 00:29:56,845
The CIA signed a huge
$600 million contract
514
00:29:56,885 --> 00:30:00,805
with Amazon Web Services
for cloud computing.
515
00:30:00,844 --> 00:30:04,084
This encouraged trust in Bezos.
516
00:30:04,125 --> 00:30:06,885
If one of the world's
largest intelligence services
517
00:30:06,925 --> 00:30:11,205
trusted Amazon then
others could trust it too.
518
00:30:12,524 --> 00:30:14,685
In fact, it became one of
the most trusted brands
519
00:30:14,725 --> 00:30:15,844
in the world.
520
00:30:17,725 --> 00:30:20,284
It's easy to put up a
website, but it's hard
521
00:30:20,324 --> 00:30:21,804
to make it really good.
522
00:30:21,844 --> 00:30:23,684
And it's hard to make sure
that the stuff arrives
523
00:30:23,725 --> 00:30:26,125
in good condition
on time as ordered.
524
00:30:26,165 --> 00:30:29,085
So it's sort of the
reliability of the end to end
525
00:30:29,125 --> 00:30:30,285
customer experience.
526
00:30:30,324 --> 00:30:31,884
Well certainly it'll get
less fascinating and new
527
00:30:31,925 --> 00:30:34,085
just you know, space shuttle
launches don't get covered
528
00:30:34,125 --> 00:30:35,244
the same way they used to.
529
00:30:35,284 --> 00:30:37,165
And so the eCommerce is new.
530
00:30:37,205 --> 00:30:38,324
It is important.
531
00:30:38,365 --> 00:30:40,125
And that's why people
are so interested in it.
532
00:30:40,165 --> 00:30:42,725
But it will become an
important part of the economy.
533
00:30:42,764 --> 00:30:44,484
And one of the new
things that's happening
534
00:30:44,524 --> 00:30:47,725
is more and more people are
figuring out how to sell online.
535
00:30:47,764 --> 00:30:49,165
And it's getting
easier and easier
536
00:30:49,205 --> 00:30:50,804
for people to sell online.
537
00:30:50,844 --> 00:30:54,004
Just yesterday, we announced
amazon.com auctions,
538
00:30:54,044 --> 00:30:58,124
and basically that makes it
possible for millions of people
539
00:30:58,165 --> 00:31:00,885
to sell their own stuff
online at amazon.com at comm
540
00:31:00,925 --> 00:31:02,244
where there's lots of traffic.
541
00:31:06,564 --> 00:31:08,044
In
October of that year,
542
00:31:08,084 --> 00:31:11,444
it was recognized as the
largest online shopping retailer
543
00:31:11,484 --> 00:31:12,764
in the world.
544
00:31:25,605 --> 00:31:28,965
On August 5th of that
year, Bezos made headlines
545
00:31:29,004 --> 00:31:32,004
when he announced his purchase
of the Washington Post.
546
00:31:32,044 --> 00:31:35,965
For $250 million in cash.
547
00:31:36,004 --> 00:31:39,165
He made the newspaper
digital and reinvented it
548
00:31:39,205 --> 00:31:42,324
as a media company, which
resulted in the paper
549
00:31:42,365 --> 00:31:45,965
becoming profitable
again in 2016,
550
00:31:46,004 --> 00:31:48,725
for the first time
in many years.
551
00:31:52,965 --> 00:31:56,324
Bezos wealth shot up in 2014
552
00:31:56,365 --> 00:31:59,525
as he entered the top
10 in Forbes list.
553
00:31:59,564 --> 00:32:03,725
From then on it hasn't
stopped to increase.
554
00:32:07,645 --> 00:32:12,645
In 2015 Bezos biological
father Jorgensen died age 70.
555
00:32:14,205 --> 00:32:15,925
Without ever meeting his son.
556
00:32:16,764 --> 00:32:18,965
He had never wanted to meet him.
557
00:32:19,004 --> 00:32:22,804
And his relationship with him
always remained estranged.
558
00:32:24,125 --> 00:32:27,244
On November 24th, 2017.
559
00:32:27,284 --> 00:32:31,324
He hit milestones when his net
worth surpassed $100 billion.
560
00:32:32,524 --> 00:32:35,324
After a hit record
on Black Friday.
561
00:32:36,445 --> 00:32:41,244
On March 6th 2018
Bezos officially seized
562
00:32:41,284 --> 00:32:45,324
the number one spot on the list
of the world's billionaires.
563
00:32:45,365 --> 00:32:50,365
He unseated Bill Gates worth
$90 billion at the time.
564
00:32:51,605 --> 00:32:54,245
And officially became the
richest person on the planet.
565
00:32:54,284 --> 00:32:57,604
When net worth rose
to $112 billion.
566
00:32:58,804 --> 00:33:01,524
The biggest single
year gain ever.
567
00:33:03,044 --> 00:33:07,004
And what could the richest man
in the world possibly want?
568
00:33:07,044 --> 00:33:09,644
Apparently not a fancy car.
569
00:33:09,685 --> 00:33:12,125
He still drives
his Honda Accord.
570
00:33:12,165 --> 00:33:15,125
Claiming it's a
perfectly good car.
571
00:33:15,165 --> 00:33:18,085
But how about a robot dog?
572
00:33:19,445 --> 00:33:22,804
He made headlines that year
when he was seen going on a walk
573
00:33:22,844 --> 00:33:25,284
with a dog named Spot Mini.
574
00:33:25,324 --> 00:33:26,725
He's the richest
man in the world.
575
00:33:26,764 --> 00:33:28,685
And he was raised
here in South Florida.
576
00:33:28,725 --> 00:33:31,804
What more could Amazon CEO
Jeff Bezos possibly want?
577
00:33:31,844 --> 00:33:34,964
Well, how about a
robotic dog to walk here?
578
00:33:35,004 --> 00:33:37,885
Here he is in a picture
that he posted to Twitter
579
00:33:37,925 --> 00:33:40,205
taking part in Boston
Dynamics Invite Only
580
00:33:40,244 --> 00:33:41,284
Robotics Conference.
581
00:33:41,324 --> 00:33:43,284
The dog is named Spot Mini.
582
00:33:43,324 --> 00:33:46,524
And if it looks familiar, it
should because it went viral.
583
00:33:46,564 --> 00:33:49,564
When it opened a door
by itself last month.
584
00:33:49,605 --> 00:33:50,885
Yeah, we reported
on him before,
585
00:33:50,925 --> 00:33:52,725
but the real dogs
are so much fun.
586
00:33:53,925 --> 00:33:55,565
Yes,
Bezos is eccentric
587
00:33:55,605 --> 00:33:58,325
and known for his weird habits.
588
00:33:58,365 --> 00:34:02,325
Once he was spotted
eating a cooked cockroach.
589
00:34:02,365 --> 00:34:04,365
The happy billionaire
is also known
590
00:34:04,405 --> 00:34:06,325
for his distinctive laugh.
591
00:34:09,444 --> 00:34:14,484
But back to Amazon
in 2016, Amazon alone
592
00:34:14,525 --> 00:34:17,005
at sold on average of
more than 70 pounds worth
593
00:34:17,045 --> 00:34:21,125
of goods to every man,
woman and child in Britain.
594
00:34:22,324 --> 00:34:25,725
More than half of all
online retail sales.
595
00:34:25,764 --> 00:34:28,525
The amount of traffic
is outstanding.
596
00:34:58,205 --> 00:34:59,965
Well, this is good
news for Bezos.
597
00:35:00,005 --> 00:35:02,445
It is less good for some others.
598
00:35:02,485 --> 00:35:05,045
Small and independent
bookshops and retailers
599
00:35:05,085 --> 00:35:08,165
have been closing
at an alarming rate.
600
00:35:08,205 --> 00:35:10,924
Amazon's cheap prices have
increasingly made trading
601
00:35:10,964 --> 00:35:13,364
impossible for such
small businesses.
602
00:35:13,404 --> 00:35:15,924
Who can't compete
with the giant.
603
00:35:15,964 --> 00:35:20,924
More and more wonder,
is Amazon good or bad?
604
00:35:22,444 --> 00:35:24,484
It has been increasingly
seen as a destructive force,
605
00:35:24,525 --> 00:35:26,405
and an industry killer.
606
00:35:26,444 --> 00:35:30,404
Crushing, all competition,
sometimes unlawfully,
607
00:35:30,444 --> 00:35:33,564
and it continues
to reign supreme.
608
00:35:34,884 --> 00:35:38,685
Today, there's a war between
online and the high street.
609
00:35:38,725 --> 00:35:41,444
Amazon has disrupted
almost every aspect
610
00:35:41,485 --> 00:35:42,845
of our modern lives.
611
00:35:43,725 --> 00:35:45,964
Today, it has got the upper hand
612
00:35:46,005 --> 00:35:48,485
being the largest internet
company in revenue.
613
00:35:57,764 --> 00:36:00,525
But founder Bezos claims
that his company is not
614
00:36:00,565 --> 00:36:02,804
what has crushed book selling.
615
00:36:02,844 --> 00:36:06,645
He claims the future is
happening to book selling.
616
00:36:14,485 --> 00:36:18,285
Nearly 20% of all retail
sales are now made online.
617
00:36:18,324 --> 00:36:19,484
And that's growing.
618
00:36:19,525 --> 00:36:22,764
An online only sales tax
could be one way to end
619
00:36:22,804 --> 00:36:26,484
the advantage internet shops
have over bricks and mortar.
620
00:36:28,404 --> 00:36:30,444
There was a time
when sales of books
621
00:36:30,485 --> 00:36:32,285
you could actually
get your hands on
622
00:36:32,324 --> 00:36:34,364
we're on a slippery slope.
623
00:36:34,404 --> 00:36:37,644
It was all about the ebook,
but this year the number
624
00:36:37,685 --> 00:36:41,485
of physical copies being
sold has actually risen.
625
00:36:41,525 --> 00:36:43,925
And food writer and
fiction author Prue Leith
626
00:36:43,964 --> 00:36:46,284
isn't at all surprised.
627
00:36:46,324 --> 00:36:48,605
When you talk to
people who read books,
628
00:36:48,645 --> 00:36:51,165
what they love is not just
the story in the book.
629
00:36:51,205 --> 00:36:52,725
It's the feel of
the book isn't it?
630
00:36:52,764 --> 00:36:56,804
It's not of course in
a hard copy of a book.
631
00:36:56,844 --> 00:36:59,605
You get the maps, the
pictures and everything else
632
00:36:59,645 --> 00:37:02,485
but also even if
it's just a textbook
633
00:37:02,525 --> 00:37:05,365
if it's a nicely printed
hardback, it's lovely.
634
00:37:05,404 --> 00:37:08,004
And I'm not surprised people
have gone back to them.
635
00:37:08,045 --> 00:37:09,725
It's a
big day for bookstores
636
00:37:09,764 --> 00:37:11,924
like this one in
Chipping Norton.
637
00:37:11,964 --> 00:37:15,044
Super Thursday sees
around 400 hard backs
638
00:37:15,085 --> 00:37:18,525
hitting the shelves, ready to
be wrapped up for Christmas.
639
00:37:18,565 --> 00:37:21,925
They stopped selling E readers
due to a lack of interest
640
00:37:21,964 --> 00:37:25,604
but many of their customers
can see the appeal of both.
641
00:37:25,645 --> 00:37:27,685
Personally I can't see
an end to a physical book
642
00:37:27,725 --> 00:37:30,125
because I think there are
a piece of art as well.
643
00:37:30,165 --> 00:37:32,205
It's great to have in your
home in your bookshelf.
644
00:37:32,244 --> 00:37:33,725
Always prefer
the physical book.
645
00:37:33,764 --> 00:37:36,924
Like going on holiday when
you've got weight restrictions.
646
00:37:36,964 --> 00:37:41,164
ePrinting will obviously
increase and it's bound to.
647
00:37:41,205 --> 00:37:43,324
But I don't think books
will ever go away.
648
00:37:43,364 --> 00:37:45,924
It may be that
those who want an e-reader
649
00:37:45,964 --> 00:37:49,524
already have one and don't
feel the need to upgrade.
650
00:37:49,565 --> 00:37:51,725
The question is whether
they'll replace them.
651
00:37:51,764 --> 00:37:53,565
When they finally
give up the ghost.
652
00:38:03,005 --> 00:38:05,965
Jet big, fast was Bezos mantra
653
00:38:06,005 --> 00:38:08,965
that he developed to
push Amazon forward.
654
00:38:09,005 --> 00:38:11,765
And big, fast it got,
655
00:38:11,804 --> 00:38:13,884
In fact critic's say that Amazon
656
00:38:13,924 --> 00:38:15,725
much like Google and Facebook
657
00:38:15,764 --> 00:38:19,444
has grown too large and
powerful to be trusted.
658
00:38:19,485 --> 00:38:22,685
Because of its enormous
scale it became increasingly
659
00:38:22,725 --> 00:38:26,165
on the radar of
politicians and regulators.
660
00:38:26,205 --> 00:38:28,085
From how it operates its power
661
00:38:28,125 --> 00:38:30,565
to even its impact
on the environment.
662
00:38:30,605 --> 00:38:32,605
It is under scrutiny.
663
00:38:33,685 --> 00:38:36,605
In March, 2018 Bezos was accused
664
00:38:36,645 --> 00:38:41,165
by former us president Donald
Trump of sales tax avoidance.
665
00:38:41,205 --> 00:38:46,205
Misusing postal routes and
anti-competitive practices.
666
00:38:47,045 --> 00:38:49,565
Amazon share price fell by 9%,
667
00:38:49,605 --> 00:38:51,965
in response to the
president's negative comments.
668
00:38:53,085 --> 00:38:54,764
Bezos has earned a reputation
669
00:38:54,804 --> 00:38:57,205
for his aggressive
business strategies
670
00:38:57,244 --> 00:39:01,605
with little concern for public
charity and social welfare.
671
00:39:01,645 --> 00:39:04,284
But for him, this
is what it takes
672
00:39:04,324 --> 00:39:06,284
to have a successful business.
673
00:39:07,485 --> 00:39:10,485
Bezos mysterious persona
have drawn controversy
674
00:39:10,525 --> 00:39:12,485
and public attention.
675
00:39:12,525 --> 00:39:16,764
In May, 2014, the International
Trade Union Confederation
676
00:39:16,804 --> 00:39:19,685
named him the
world's worst boss.
677
00:39:20,964 --> 00:39:23,364
Super villain in
the eyes of many.
678
00:39:23,404 --> 00:39:25,964
He became a symbolically
dominant business figure
679
00:39:26,005 --> 00:39:27,485
in modern society.
680
00:39:28,725 --> 00:39:31,725
However, he continues
to look beyond it all,
681
00:39:31,764 --> 00:39:33,444
and has grasped the idea
682
00:39:33,485 --> 00:39:35,925
that not all big
companies are loved.
683
00:39:39,125 --> 00:39:43,085
In April, 2018 another
scandal broke out.
684
00:39:43,125 --> 00:39:45,844
The nonprofit group
New Food Economy
685
00:39:45,884 --> 00:39:48,044
revealed that Amazon
was underpaying
686
00:39:48,085 --> 00:39:50,725
and exploiting its employees.
687
00:39:50,764 --> 00:39:54,165
They found that one third
of Amazon workers in Arizona
688
00:39:54,205 --> 00:39:57,685
and one 10th of Amazon workers
in Pennsylvania and Ohio
689
00:39:57,725 --> 00:40:00,364
relied on food stamps.
690
00:40:00,404 --> 00:40:04,084
Criticisms continued
in September, 2018.
691
00:40:04,125 --> 00:40:07,965
When Senator Bernie Sanders
also went after the retail giant
692
00:40:08,005 --> 00:40:11,005
and attacked Amazon on the
way it treated its workers
693
00:40:11,045 --> 00:40:13,365
and is not paying enough taxes.
694
00:40:14,565 --> 00:40:16,804
Referring to Bezos
Blue Origin Company,
695
00:40:16,844 --> 00:40:20,084
Bernie said, instead of
attempting to explore Mars
696
00:40:20,125 --> 00:40:23,725
or go to the moon, how about
Jeff Bezos pays his workers
697
00:40:23,764 --> 00:40:25,165
a living wage.
698
00:40:26,725 --> 00:40:30,685
In response, Amazon pointed
to the 130,000 jobs it created
699
00:40:30,725 --> 00:40:35,525
in 2017 and said the
calculation of its median salary
700
00:40:35,565 --> 00:40:37,685
included part-time workers.
701
00:40:38,924 --> 00:40:43,404
However, on October 2nd,
2018 Bezos announced
702
00:40:43,444 --> 00:40:45,604
a company-wide wage increase,
703
00:40:45,645 --> 00:40:47,165
which Sanders applauded.
704
00:40:48,364 --> 00:40:52,125
It is clear that Bezos
has built an empire,
705
00:40:52,165 --> 00:40:52,965
but at what cost.
706
00:41:05,404 --> 00:41:07,725
Another reason for his
negative public image
707
00:41:07,764 --> 00:41:09,725
is that the world's richest man
708
00:41:09,764 --> 00:41:12,484
isn't well-known for
his philanthropy.
709
00:41:12,525 --> 00:41:15,285
Despite giving millions
to support gay marriage
710
00:41:15,324 --> 00:41:18,324
immigrant rights and
fighting homelessness.
711
00:41:18,364 --> 00:41:20,964
He was often characterized
as being too cautious
712
00:41:21,005 --> 00:41:22,805
with his wealth.
713
00:41:22,844 --> 00:41:25,764
People noticed his relative
lack of philanthropy
714
00:41:25,804 --> 00:41:29,205
compared to other
billionaires like Bill Gates.
715
00:41:29,244 --> 00:41:31,764
Though he is the first
person in modern history
716
00:41:31,804 --> 00:41:34,565
to accumulate a fortune
of over $100 billion.
717
00:41:35,725 --> 00:41:39,364
His charitable history
remains a mystery.
718
00:41:39,404 --> 00:41:42,884
And is known donations are
controversial as some doubt
719
00:41:42,924 --> 00:41:46,725
his intentions and don't agree
with his business tactics.
720
00:41:48,005 --> 00:41:52,845
In 2018 Business Insider
reported that Bezos
721
00:41:52,884 --> 00:41:56,404
was the only one of the top
five billionaires in the world
722
00:41:56,444 --> 00:41:59,284
who had not signed
the giving pledge.
723
00:41:59,324 --> 00:42:01,524
An initiative
created my Bill Gates
724
00:42:01,565 --> 00:42:04,365
and Warren buffet that
encourages wealthy people
725
00:42:04,404 --> 00:42:06,725
to give away a majority
of their wealth.
726
00:42:07,964 --> 00:42:10,884
To this day he still
hasn't signed it.
727
00:42:10,924 --> 00:42:13,844
And it isn't completely
clear as why.
728
00:42:15,404 --> 00:42:18,484
But after the scandals,
his image began to shift.
729
00:42:18,525 --> 00:42:20,885
He began to spend his
money more freely.
730
00:42:22,324 --> 00:42:26,844
On June 15th, 2017, he
posted a message on Twitter
731
00:42:26,884 --> 00:42:29,324
asking for ideas
for philanthropy.
732
00:42:30,525 --> 00:42:32,685
I'm thinking about a
philanthropy strategy
733
00:42:32,725 --> 00:42:35,884
that is the opposite of
how I mostly spend my time
734
00:42:35,924 --> 00:42:37,205
working on the longterm.
735
00:42:38,444 --> 00:42:41,084
At the time of the post
Bezos lifetime spending
736
00:42:41,125 --> 00:42:45,045
on charitable causes was
estimated to be $100 million.
737
00:42:46,364 --> 00:42:48,364
Many responded by asking Bezos
738
00:42:48,404 --> 00:42:50,924
to pay higher wages
to Amazon workers.
739
00:42:52,485 --> 00:42:55,845
Bezos announced
in September, 2018
740
00:42:55,884 --> 00:42:58,884
that he would commit
approximately $2 billion to fund
741
00:42:58,924 --> 00:43:02,484
the Day One Fund to
support homeless families
742
00:43:02,525 --> 00:43:06,045
and early childhood education
for low income communities,
743
00:43:07,244 --> 00:43:11,764
In February, 2020 Bezos
pledged $10 billion
744
00:43:11,804 --> 00:43:14,844
to protect the planet
and combat climate change
745
00:43:14,884 --> 00:43:16,804
through the Bezos Earth Fund.
746
00:43:19,645 --> 00:43:22,884
He also donated $100
million to food banks
747
00:43:22,924 --> 00:43:27,044
through Feeding America
during the COVID 19 pandemic.
748
00:43:28,244 --> 00:43:30,884
In January, 2019.
749
00:43:30,924 --> 00:43:33,284
After 25 years of marriage,
750
00:43:33,324 --> 00:43:36,484
he and his wife
McKinsey divorced.
751
00:43:36,525 --> 00:43:40,764
The settlement was the largest
ever recorded at $35 billion.
752
00:43:42,125 --> 00:43:45,324
She went on to sign the
giving pledge on her own.
753
00:43:46,525 --> 00:43:49,725
So basis journey hasn't
been without challenges.
754
00:43:49,764 --> 00:43:52,125
But he's still
managed to thrive.
755
00:44:03,404 --> 00:44:06,924
In the first months of
2020, the global pandemic
756
00:44:06,964 --> 00:44:08,964
shook the whole world's economy.
757
00:44:10,165 --> 00:44:12,284
It is rare to see a
company doing well
758
00:44:12,324 --> 00:44:13,605
during a pandemic
759
00:44:13,645 --> 00:44:16,884
that has left millions
of people unemployed.
760
00:44:16,924 --> 00:44:19,964
Though the tech industry has
been doing remarkably well.
761
00:44:21,165 --> 00:44:24,005
Even during a time
of economic turmoil
762
00:44:24,045 --> 00:44:27,405
Amazon grew with more
customers than ever before.
763
00:44:28,565 --> 00:44:30,725
As people all over the
world sheltered at home
764
00:44:30,764 --> 00:44:33,045
during the COVID-19 outbreak,
765
00:44:33,085 --> 00:44:35,324
the online demand exploded
766
00:44:35,364 --> 00:44:39,764
and Amazon doubled its
profits since 2019.
767
00:44:39,804 --> 00:44:43,324
The company has expanded
rapidly to address the needs.
768
00:44:43,364 --> 00:44:46,924
Pushing its workforce to
more than 1 million people.
769
00:44:46,964 --> 00:44:49,844
While physical stores
continue to struggle.
770
00:45:01,404 --> 00:45:04,324
On January 7th, 2021
771
00:45:04,364 --> 00:45:07,924
with his wealth growing
at an unprecedented rate,
772
00:45:07,964 --> 00:45:11,844
Tesla CEO, Elon
Musk overtook Bezos
773
00:45:11,884 --> 00:45:13,964
as the world's richest person.
774
00:45:15,005 --> 00:45:17,405
Seeing that he had done
all he could for Amazon
775
00:45:17,444 --> 00:45:20,084
and that he brought it
to where it is today.
776
00:45:20,125 --> 00:45:23,804
Bezos announced on
February 2nd, 2021,
777
00:45:23,844 --> 00:45:26,685
that he would step down
as the CEO of Amazon,
778
00:45:26,725 --> 00:45:29,605
sometime in late 2021
779
00:45:29,645 --> 00:45:33,125
and transition into the
role of executive chairman.
780
00:45:34,165 --> 00:45:37,125
He is due to be
replaced by Andy Jassy.
781
00:45:37,165 --> 00:45:40,125
The chief of Amazon's
cloud computing division.
782
00:45:41,485 --> 00:45:44,165
Bezos has told his employees
that this transition
783
00:45:44,205 --> 00:45:46,444
would give him the
time and energy
784
00:45:46,485 --> 00:45:48,485
to focus on the Day One Fund,
785
00:45:50,085 --> 00:45:55,085
the Bezos Earth Fund, Blue
Origin, the Washington Post.
786
00:46:02,125 --> 00:46:05,085
Bezos empire now
stretches far and wide.
787
00:46:07,404 --> 00:46:11,165
Amazon bought Whole
Foods in 2017,
788
00:46:11,205 --> 00:46:14,324
and also owns companies
like Zappos and Twitch.
789
00:46:17,045 --> 00:46:20,244
He has also invested in
companies like Google, Twitter,
790
00:46:20,284 --> 00:46:22,165
Uber among many others.
791
00:46:38,364 --> 00:46:42,165
Jeff Bezos is brilliant,
but controversial.
792
00:46:42,205 --> 00:46:44,205
However, he not been
afraid of failure,
793
00:46:44,244 --> 00:46:46,725
and he encourages
people to be bold.
794
00:46:48,205 --> 00:46:51,764
What didn't fail him was his
perseverance and patience.
795
00:46:52,924 --> 00:46:56,484
The empire he built
wasn't made in one day.
796
00:46:56,525 --> 00:47:00,764
It took Amazon 26 years
to get where it is today.
797
00:47:00,804 --> 00:47:05,085
After investing in huge new
areas like Amazon Prime,
798
00:47:05,125 --> 00:47:09,125
Amazon Web Services, and
most recently the Alexa
799
00:47:09,165 --> 00:47:11,685
it's AI virtual assistant.
800
00:47:11,725 --> 00:47:14,844
It continues to improve
and innovate constantly.
801
00:47:16,125 --> 00:47:19,725
Jeff Bezos is an
eCommerce pioneer.
802
00:47:19,764 --> 00:47:23,125
Money isn't what
drives him, but passion
803
00:47:23,165 --> 00:47:25,725
and a need to make
the world better.
804
00:47:31,924 --> 00:47:34,164
His successful business
ventures have made him
805
00:47:34,205 --> 00:47:36,165
one of the richest
people in the world.
806
00:47:37,605 --> 00:47:40,685
Amazon was developed on the
principle of customer obsession,
807
00:47:40,725 --> 00:47:42,924
as opposed to
competitor obsession.
808
00:47:44,045 --> 00:47:46,284
And with a focus growth
and long-term vision
809
00:47:46,324 --> 00:47:47,524
over net income.
810
00:47:48,964 --> 00:47:52,844
Today with over a million
employees all around the world,
811
00:47:52,884 --> 00:47:56,205
Amazon also sells millions
of different products.
812
00:47:56,244 --> 00:47:59,884
From toilet paper to groceries,
to electronics, fashion
813
00:47:59,924 --> 00:48:00,964
and furniture.
814
00:48:02,045 --> 00:48:05,165
Bezos declared, "I
took the less safe path
815
00:48:05,205 --> 00:48:06,764
to follow my passion.
816
00:48:06,804 --> 00:48:08,764
And I am proud of that choice."
817
00:48:10,165 --> 00:48:13,565
By combining optimism,
motivation and grand visions.
818
00:48:13,605 --> 00:48:16,485
He's become a legend
of the tech industry.
819
00:48:16,525 --> 00:48:19,764
From a little boy experimenting
in his parents' garage
820
00:48:19,804 --> 00:48:22,924
and son of a teen
mom to risk-taking
821
00:48:22,964 --> 00:48:25,244
and visionary tech Titan.
822
00:48:25,284 --> 00:48:27,924
He is the example
of modern society's
823
00:48:27,964 --> 00:48:29,804
self-made billionaires.
824
00:48:31,284 --> 00:48:33,284
He said that one of the
great gifts in his life
825
00:48:33,324 --> 00:48:35,165
was his mother and father.
826
00:48:35,205 --> 00:48:38,205
And how they had been
incredible role models for him.
827
00:48:39,565 --> 00:48:41,605
He is proud of his mother
for all the sacrifices
828
00:48:41,645 --> 00:48:44,525
she made for herself
and her family.
829
00:48:44,565 --> 00:48:48,045
He thanked her in a tweet
on mother's day, 2017.
830
00:48:49,005 --> 00:48:51,765
I won the lottery with my mom.
831
00:48:51,804 --> 00:48:54,324
Thanks for literally
everything mom.
832
00:48:55,764 --> 00:48:59,764
From him we learn that the
simplest ideas are worth trying.
833
00:48:59,804 --> 00:49:02,804
As Bezos has shown you
can take a simple idea,
834
00:49:02,844 --> 00:49:04,884
and turn it into
something bigger.
835
00:49:06,085 --> 00:49:08,885
Amazon has defied the odds.
836
00:49:08,924 --> 00:49:10,244
After an extraordinary growth
837
00:49:10,284 --> 00:49:13,205
in size, influence and ambition.
838
00:49:13,244 --> 00:49:17,685
The multi-billion dollar empire
revolutionized the industry.
839
00:49:19,085 --> 00:49:22,045
Jeff Bezos success
journey is inspiring.
840
00:49:28,205 --> 00:49:31,005
This is a story of a
young ambitious man
841
00:49:31,045 --> 00:49:34,485
who forever changed the way
we buy just about everything.
842
00:49:39,364 --> 00:49:42,764
Growing a tiny business
from his home garage
843
00:49:42,804 --> 00:49:46,685
into the world's most successful
and influential company
844
00:49:46,725 --> 00:49:48,324
in modern history.
845
00:50:22,891 --> 00:50:27,891
Provided by explosiveskull
https://twitter.com/kaboomskull