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willtheorangeguy
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2017-WAN-Show-Transcripts

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[2827.00 --> 2828.00] I don't remember.
[2828.00 --> 2831.00] When you get old, your memory starts to fade.
[2831.00 --> 2832.00] That's the difference.
[2832.00 --> 2833.00] That's the difference.
[2833.00 --> 2835.00] Alright, you know what?
[2835.00 --> 2836.00] Why don't we just do a tech topic?
[2836.00 --> 2838.00] Because I've had enough of your bullcrap.
[2838.00 --> 2839.00] Can we do Amazon?
[2839.00 --> 2840.00] They surprised everyone this week.
[2840.00 --> 2842.00] Six new hardware products out of nowhere.
[2842.00 --> 2844.00] Who cares?
[2844.00 --> 2846.00] It's just more like digital assistance.
[2846.00 --> 2849.00] It's because you're in Canada and you can't use them.
[2849.00 --> 2850.00] Right.
[2850.00 --> 2857.00] We should have someone in the States who just has this stuff and just reviews Amazon.
[2857.00 --> 2858.00] A correspondent.
[2858.00 --> 2862.00] Alright, so the original article here is from TechCrunch.
[2862.00 --> 2867.00] So there's more Echo hardware.
[2867.00 --> 2869.00] There's more Echo hardware.
[2869.00 --> 2870.00] Echo hardware.
[2870.00 --> 2871.00] Echo hardware.
[2871.00 --> 2873.00] The new Echo is a refresher of the original.
[2873.00 --> 2874.00] It's smaller.
[2874.00 --> 2875.00] It's $100.
[2875.00 --> 2876.00] It's got a cloth covered body.
[2876.00 --> 2878.00] It has a dedicated woofer and tweeter.
[2878.00 --> 2880.00] This is okay.
[2880.00 --> 2884.00] Aside from the products that they introduced, it's so interesting in their business model
[2884.00 --> 2889.00] and the way that Amazon works which is completely different to how any other hardware manufacturer works.
[2889.00 --> 2891.00] There's not six Google Homes.
[2891.00 --> 2893.00] There will be another one next week.
[2893.00 --> 2895.00] But you know what I mean?
[2895.00 --> 2897.00] They just launched six.
[2897.00 --> 2899.00] There's like one with a screen, one without a screen.
[2899.00 --> 2900.00] There's a big one, a tall one.
[2900.00 --> 2902.00] There's so many and they're all dirt cheap.
[2902.00 --> 2903.00] Why do they do that?
[2903.00 --> 2904.00] How do they do that?
[2904.00 --> 2905.00] Why doesn't anyone else do that?
[2905.00 --> 2908.00] Why don't they do that?
[2908.00 --> 2910.00] I know why they do that.
[2910.00 --> 2911.00] Go ahead.
[2911.00 --> 2912.00] Let me tell you.
[2912.00 --> 2916.00] It's because Amazon has so many different parts to their business.
[2916.00 --> 2920.00] All these parts are interconnected and actually create a positive feedback loop with each other.
[2920.00 --> 2927.00] So they can sell these hardware products dirt cheap because the point isn't to make all their revenue from selling these hardware products.
[2927.00 --> 2934.00] Their point is to get people using Amazon Echo to order things on Prime to spend more money in their core business which is selling stuff on Amazon.com.
[2934.00 --> 2938.00] I'm not actually convinced that their core business is selling stuff on Amazon.com.
[2938.00 --> 2940.00] Aren't they still losing money on that?
[2940.00 --> 2941.00] Like with Prime.
[2941.00 --> 2948.00] I only have to order like two things here in Canada to just like wreck Amazon on Prime.
[2948.00 --> 2955.00] But you're an outlier because Amazon's data shows that Prime customers on average spent $1,200 a year.
[2955.00 --> 2957.00] $1,200 a year.
[2957.00 --> 2968.00] Yeah, but that doesn't change that that Prime customer could be like they could be losing a ton of money on that Prime membership on just $1,200 of orders.
[2968.00 --> 2972.00] Like you order a couple computer cases and they're like they're done.
[2972.00 --> 2974.00] Like they're done for what they're charging for Prime.
[2975.00 --> 2978.00] I mean I think honestly I think their core business is data.
[2978.00 --> 2979.00] You mean just from the shipping cost?
[2979.00 --> 2981.00] You're getting free shipping?
[2981.00 --> 2983.00] AWS is a huge part of the business.
[2983.00 --> 2984.00] I think it's like a third of it now.
[2984.00 --> 2986.00] And they have all the market share in that space.
[2986.00 --> 2990.00] And not just AWS but just knowing what people are buying.
[2990.00 --> 2993.00] Understanding the consumer.
[2993.00 --> 3000.00] Because right now like Amazon is like it's like the Silicon Valley startup which they are of course.
[3000.00 --> 3002.00] But like the Silicon Valley startup like on steroids.
[3002.00 --> 3005.00] Well, they're the one that made it through the dot-com bubble.
[3005.00 --> 3009.00] Yeah, where they just they just never actually exit startup mode.
[3009.00 --> 3010.00] Ah, yeah.
[3010.00 --> 3013.00] They just keep making their business like worth more and more and more.
[3013.00 --> 3017.00] And it doesn't actually matter how much money they make because it's sort of irrelevant.
[3017.00 --> 3025.00] And then once they've just crowded out everybody else, then they just crank all the prices and they're like,
[3025.00 --> 3026.00] Yep!
[3026.00 --> 3027.00] Ah, come at me.
[3027.00 --> 3028.00] Has that happened yet?
[3028.00 --> 3029.00] Come at me.
[3029.00 --> 3030.00] No, it will.
[3030.00 --> 3031.00] It might.
[3031.00 --> 3032.00] I mean right now they're still in startup mode.
[3032.00 --> 3034.00] So they go and acquire Whole Foods and then they slash all the prices.
[3034.00 --> 3036.00] But it benefits consumers.
[3036.00 --> 3037.00] For now.
[3037.00 --> 3038.00] For now.
[3038.00 --> 3039.00] For the time.
[3039.00 --> 3040.00] Until they have world domination.
[3040.00 --> 3046.00] Yeah, until like when Amazon merges with Costco, then we're all done for it.
[3046.00 --> 3047.00] Hmm.
[3047.00 --> 3050.00] That'll actually be the end of time.
[3050.00 --> 3053.00] Or the end times, whatever it's called.
[3053.00 --> 3054.00] The dark times.
[3054.00 --> 3055.00] It's something dead.
[3055.00 --> 3056.00] The reckoning.
[3056.00 --> 3061.00] So, there's a new Echo, there's an Echo Plus, which is the same as the original but now is a smart home hub.
[3061.00 --> 3062.00] It's beefed up.
[3062.00 --> 3064.00] How many people have smart home crap?
[3064.00 --> 3065.00] Well, that's the thing.
[3065.00 --> 3069.00] So, what Amazon does is they put a little fishing line out.
[3069.00 --> 3070.00] That was the Echo.
[3070.00 --> 3072.00] They see how well it does.
[3072.00 --> 3076.00] And then if it makes money or there's interest or a market's developing, they just hammer it.