This, Is Why Google Is Google


#62

Now I remember alibaba and Tencent also do quite a few other things. Love these two.


#63

Ok, I withdrew my statement that you didn’t think sufficiently deep. Please accept my apology :wink:


#64

One thing i forgot to mention: Google makes a lot of money from google play, and youtube, both outside of ads.


#65

Too much diversification is not going to get you to $25 million. You really need a concentrated position in no more than one company.


#66

Do agree with wuqijun and marcus policy. Try to be more focussed. manch is like throwing a lot of darts hoping some sticks. Might as well throw all into S&P.


#67

That’s very true. It’s interesting, because Apple and Amazon are similar in a LOT of ways. The huge difference is Apple’s focus on very few things vs. Amazon’s desire to do everything The way I’ve reconciled that is Amazon heavily delegates to leaders of the different businesses. Each business is laser focused on what it is doing. It’s like a bunch of companies with Apple’s focus are owned by the same VC or hedge fund.

The people culture is also very different Apple is very sink/swim, and you’re lucky you get to tell people you work at Apple. Professional development is pretty non-existent. Amazon is far more into developing people and promoting from within. In just over a year, I’ve taken a bunch of training classes. I never took a training class at Apple.

You don’t see people talk about it, but people development is a huge advantage for Amazon. Also, it’s far less restrictive on promotions. You can be the same job level as your boss. Also, you get promoted based on when you’re ready not when the business needs your role to be a level higher. It’s pretty common for people to get promoted, then look for a new role at their new job level. IC promotions can happen each quarter which is crazy. Manager levels are every 6 months. Director and above are once a year.

In 4.5 years, I literally saw zero promotions in my department at Apple. People didn’t even move up IC levels. Instead of promoting people, they’d hire people from outside who’d take jobs 2-3 levels lower just to get a job at Apple.


#68

That’s why I left Apple. I’m done with climbing the corporate ladder. I enjoy climbing my personal net worth ladder much more :slight_smile:


#69

marcus makes me regret not investing big in AMZN. When is the next consolidation for AMZN :cry: I own only a couple of shares. Need to go BIG. I always believe PEOPLE is the most important in a company. A highly motivated employee who feel recognized is a powerful force.


#70

I start all these investments with some small seed amount. If they grow I follow up with additional money. There are some stocks like Twilio that I have been buying everyday for a month or so.

That’s part of my philosophy to listen to the market. React, instead of predict. So far I have been quite happy with my return.


#71

I like your approach. Thanks for sharing.


#72

I worry about how will Amazon double from here. Grocery is going to be key. Most retailers experience step function growth when they get into grocery.

You’re right about people. The companies on the best places to work list outperform SPY index on a consistent bases. Someone should make an ETF for that.


#73

How do you measure people quality? Being led by founders is a proxy for that, though only at the top. Most founders are cuts above managers for hire.


#74

I look at top MBA programs. It used to be most went to consulting or investment banking. Now they want to work in tech. You need a visionary deciding the direction, but you also need a super strong team to execute that vision. Jobs needed Cook for Apple to become the company it is. Vision is wasted without the team to execute it.

You can also use comp as a proxy for talent. Companies that pay the best will attract the best talent. They aren’t going to pay top dollar for mediocre talent.


#75

A great leader knows who to select in his team. The most important unsaid attribute of a great leader is his/her skill to give a reason for you to join him. Many leadership courses talk a lot about all kinds of skills to build and attributes, how to look for outstanding performers but didn’t teach you how to answer the question, “Why should they work for you?"


#76

Why even care? You already hit jackpot with Apple. Just sit back and enjoy. And make fun of struggling lads like Manch :slight_smile:


#77

Then, NFLX and TCEHY :slight_smile: are must haves. I need to increase my stake in them too. I feel like I have been living in a rock. You two, manch and me, are opening my eyes to fresh insights.


#78

I need to grow my net worth :slight_smile: to beat tomato’s goal. Suddenly, I feel I am too complacent and not setting a stretched goal.


#79

Then marginize 100% of your Apple and dump into the other fang, ant, and bat. I told you to do so few months ago already.


#80

Yes you told me, but you, an ex-Apple badge, didn’t bother to articulate to me the reasons and just expect me to sink or swim, unlike marcus, the new AMZN guy teaches me :slight_smile:


#81

OMG, I’m so incompetent as an advisor :scream::sob: