There’s a lot going on in the world.
Sometimes it’s hard to keep up.
My brother and I live together and we still struggle to stay up to date on what each other is up to.
Usually, we go for walks after work and talk about the world. Our conversations revolve around technology, business, technology in business, health and life.
Our skill sets complement each other. I’m a tech nerd who’s still learning about the business world and he’s a business dude who’s learning about the tech world.
We’re launching this podcast with no rules. Except for the fact we’ll try and keep the time under an hour or so. No promises.
Each episode will have 3ish topics. A mixture of what our normal conversations are about.
We may get some guests on the show at some point too. So if you know anyone we should talk to or want to come on the show, give us a holla.
This episode was about Amazon, Facebook and Sleep.
Two of the biggest companies in the world and one of the most important activities we all do.
Sleep is so important. Not one bodily function isn’t affected in some way by sleep. We could all operate a little better if we paid more attention to our sleep.
Amazon is so big. They have 560,000 employees. How does someone even manage all the thoughts going through their head? I don’t know how Jeff Bezos does it. One of the reasons I wanted to talk about Amazon was so I can absorb some of Jeff Bezos’s wisdom. I love his philosophy of every day being Day 1. This is how I try to live my life.
Facebook is even bigger than Amazon. Not by employee count or market cap. By users. By the amount of time people spend on their services. They own half of the top 10 apps on the App Store. It’s likely if you’re reading this you use a Facebook product daily.
That’s enough of an introduction, here’s a more formal account of what we talked about. I’ve included all the links to anything and everything I could remember.
If you want to get on the show or give us some advice, send an email to email@example.com. If you send an audio file of your question, we’ll do our best to put it on the show.
One more thing, we need a show name. I was thinking Banter with the Bourke Boys? Bourke Brothers Banter? Or something simple like 3ish things? I’d love to hear your ideas.
Will’s shirt is from the MIT AGI course available FREE on YouTube - https://agi.mit.edu/
Amazon 2016 shareholder letter - bit.ly/amazon2016letter
Amazon 2017 shareholder letter - bit.ly/amazon2017letter
Amazon Prime is at 100 million members globally (~$9B RR).
Third-party sellers sold more on Amazon than Amazon itself in 2017 (the first time this has happened).
Every day is Day 1 at Amazon.
Four principles of what makes a great business (from Amazon’s 2016 shareholder letter):
- True customer obsession: are you delighting your customers?
- Resist proxies: do we own the process or does the process own us?
- Embrace external trends: if you fight external trends, you’re probably fighting the future. Embrace external trends and ride the tailwinds of society.
- High-velocity decision making: if you’re 90% sure of the decision you’re about to make, you’ve probably been waiting too long. 70% of information is enough. If someone doesn’t agree with you 100%, rather than trying to convince them and wasting time, disagree and commit.
Amazon Prime is in 2/3 US households.
Daniel shared the story of his experience with AWS. He ran up a large bill unexpectedly and contacted support to have the bill cancelled. A testament to Amazon’s true customer obsession.
AWS Sagemaker - an online platform to get machine learning models trained, running and deployed quickly. Even for non-developers.
AWS has $20B yearly revenue.
Google is trying to catch up to AWS in the cloud space - Daniel experienced this at the Google Cloud Event he attended. Both AWS and Google are offering world-class Machine Learning APIs and services but AWS still has a larger market share.
Rule of thumb: your net worth 10 x your recurring revenue (RR). E.g. if you have $100M RR, you have a $1B company. - Will
Amazon buying Whole Foods is a big plus. Making organic, quality foods more accessible is incredible. Amazon also now has 100+ different locations around the US it can use as midway points for its other services. By buying Whole Foods, Amazon saved itself 10-years trying to build the infrastructure themselves. - Will
Amazon has 560K employees by is also patenting and building technologies which automate a lot of other jobs. Eliminated jobs aren’t thought of as often as created jobs. For every 1 job Amazon creates, it may eliminate 3 middle management jobs. - Will
Amazon acquired Kiva robotics (now Amazon Robotics) in 2012 for $775M and cancelled all other existing contracts the company had. Now Amazon’s warehouses and fulfilment centres are full of robot workers.
Facebooks 2018 F8 event - https://www.f8.com/
From the event:
Facebook wants to use their in-app camera, computer vision and your old photos to reconstruct your living room (virtually). Can you imagine ads targeted directly by what kind of fridge you’re using?
You can now clear your browsing data on Facebook. I’d love to clear my data on Facebook, that may actually get me to start using it again. I’ve got a lot of crap built up. - Daniel, This isn’t a new feature. - Will
Facebook is hiring 20,000 people to manually audit newsfeed items and ads to reduce fake news and political issues. Could this be a great way for them to keep governments and the strong grip of regulation off their heels? - Will
Facebook is also using AI to detect fake news and get them out of the feed. - Daniel
Group video chat is coming to Messenger, Instagram and WhatsApp. I saw this as a given, especially with Facebook’s massive push towards video lately. - Daniel
FAIR (Facebook Artificial Intelligence Research) replicated DeepMind’s AlphaGo and open sourced the code.
Who else wants to see OpenGo vs AlphaGo? Let’s make this happen!
FAIR also released an updated version of their open source reinforcement learning framework, ELF (Extensive, Lightweight, Flexible) along with OpenGo.
Open source is key. Imagine if you were a youngster building things and using Facebook’s open source technologies, where would you want to work when you’re older? - Daniel & Will
School test scores went up when the school time started later (from 7:30 am to 8:30 am). - Will
1 in 20 doctor interns who work sleep deprived will accidentally kill someone on the job, 1 in 5 will accidentally injure someone.
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