Business Wars Amazon vs Walmart - The Big Bang Theory of E-Commerce | 1
Apr 20, 2020
Jeff Bezos, the visionary founder of Amazon, discusses the monumental shift in retail as he battles industry titan Walmart in the late 90s. Listeners will discover how Bezos's ambition to sell books online sparked a revolution in e-commerce. Hear about Walmart's initial dominance and its response to the online threat. As Bezos navigates numerous challenges, he reflects on the transformative power of digital sales against traditional giants. This clash ignites a fascinating conversation about the future of shopping.
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Poaching War
- In 1998, Walmart CEO David Glass was angered by Amazon poaching his executives.
- He saw it as a theft of Walmart's hard-earned distribution center secrets.
Books as a Wedge
- Jeff Bezos saw books as the perfect entry point into e-commerce.
- Their standardization, vast selection, and the limitations of physical bookstores presented a unique opportunity.
Bezos's Leap of Faith
- Bezos left his high-paying job to pursue his e-commerce dream, despite his parents' concerns.
- He believed in the potential of online bookselling and the need to act quickly to seize the opportunity.
