Scott Galloway Says Amazon, Apple, Facebook, And Google should be broken up

At Business Insider’s IGNITION conference, Scott Galloway gave a blistering presentation on why “The Big Four” — Amazon, Apple, Facebook, and Google — should be broken up. Galloway is a professor of marketing at the NYU Stern School of Business and the author of “The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google.”

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HENRY BLODGET: 14 Things You’ll Want To Know About The Future Of Media

Henry Blodget opened the latest sold-out IGNITION conference with a presentation entitled “The Future of Digital: The Next Big Thing.” And he should know: Blodget is the cofounder, CEO, and editor-in-chief of Business Insider, one of the most read business and tech news sites in the world with more than 80 million visitors a month worldwide.

The presentation was put together with the help of the team at BI Intelligence, Business Insider’s premium research service. In the presentation, Blodget details where the future of digital is likely headed.

The key takeaways:
Digital media consumption is growing; everything else is shrinking.
Digital advertising is growing; everything else is flat.
It’s Google and Facebook, and then everyone else.
Traditional TV has passed its peak, but TV won’t die.
The next big thing isn’t smartwatches or glasses or even virtual reality.
And much more.

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Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

IGNITION 2017 LIVE – Day One: Morning Session

BUSINESS INSIDER’S FLAGSHIP CONFERENCE IS BACK!
Convene the biggest names and most innovative leaders in media, marketing, and technology. Add Business Insider’s unique blend of hard news and big ideas… and you have IGNITION.
Featuring: Henry Blodget, Snapchat’s Nick Bell, Viacom CEO Robert Bakish, Verizon’s Marni Walden, Lachlan Murdoch from 21st Century Fox, Facebook’s Dan Rose, and NBC News anchor Megyn Kelly.

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Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the world around you. The BI Video team focuses on news, business, technology, strategy, science and innovation with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

Why Retail Businesses Should Hire Humans, Not Robots

Scott Galloway, professor of marketing at NYU Stern School of Business and the author of “The Four: The Hidden DNA of Amazon, Apple, Facebook and Google” says that employing a huge fleet of robots does not always benefit a business’ bottom line. Human employees offer an advantage for retail businesses even during a time when tech companies are increasingly pushing robots as replacements. Following is a transcript of the video.

Scott Galloway: To give you a sense of just how powerful Amazon is, when Amazon opened one store, Amazon Go — whose key feature was that it used artificial intelligence to get rid of cashiers.

Effectively, you heard this giant scream across the US labor force where of the 11 million cashiers in the US — that’s more than primary teachers in terms of actual numbers — about 3 of those 11 million probably lost their job. They just don’t know it yet.

And in every retail boardroom, we’re talking about store optimization which is Latin for “fire people.” I believe however the opportunity in retail is to invest in not artificial intelligence but organic intelligence.

People no longer go to stores for products. So the winners in retail, The Home Deports, the Best Buys, the Sephoras are investing in their “Blue Shirts,” their “Golden Aprons,” and their “Cast.”

Because if you are going into a store, you want someone there. You want the most impressive supercomputer in the history of the world. And that is an individual who is well-trained.

So while tech is zigging, there’s an opportunity for retail to zag. Starbucks is the original gangster here, spending more money on benefits than they do on coffee.

When you go into a Starbucks you feel better about the experience because the person behind the counter, the barista, actually seems to be enjoying their job, or feel as if they are getting paid well and learning something.

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Scott Galloway On Why Amazon Is So Successful

Scott Galloway, professor of Marketing at NYU Stern and the author of “The Four: The Hidden DNA of Amazon, Apple, Facebook and Google”, explains how Amazon’s “Type 2” investments are the key to its incredible success. Following is a transcript of the video.

Scott Galloway: So people ask what Amazon’s core competence or advantage is, relative to the other members of the four and it comes down to storytelling. And that is Jeff Bezos’ essential rap has not changed in 15 years and it’s a pretty intoxicating visionary rap, where they’re gonna invest massively across some consumer truisms that aren’t perishable: value, convenience, selection, speed.

And the marketplace keeps bidding up the stocks. As a result, they have access to cheaper capital than any company in modern history. Amazon can now borrow money for less than the cost of what China can borrow money. As a result, they are able to throw up more stuff against the wall than any other firms. If the phone doesn’t work, if it fails, if auctions don’t fail, it’s a speed bump for them, whereas, other companies will probably be either put out of business or see their stock cut in half.

Some Plan B investments that had worked, they launched a company based on their own infrastructure and storage needs called “AWS” that now everyday, adds the entire capacity that they needed when they launched it for themselves internally, and is the number one share leader and what is the most profitable, fastest-growing business in tech to cloud with triple the share of the number two, Microsoft. This year, Amazon will spend $4.5 billion on original television content, second only to Netflix, who increased their budget to $2 billion when they heard Amazon’s footsteps behind them.

Amazon can go into non-core categories and show up and be dominant in record time because they have access to cheaper capital. Effectively, this company is playing unfair and winning.

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Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

Scott Galloway Predicts Who Amazon Should Acquire Next

Amazon purchased Whole Foods a little less than four months ago. Whole Foods products are already appearing on Amazon, and Alexa devices have made it to the shelves of Whole Foods.

With this just the latest in a long list of companies Amazon has acquired, we were wondering who would be next. To answer that question we brought in Scott Galloway, a professor of marketing at NYU Stern School of Business and the author of the new book, “The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google.” The following is a transcript of the video.

Scott Galloway: Next acquisition for Amazon would be Nordstrom. I think the most logical, or strategically rational, acquisition for Amazon would be Nordstrom.

Amazon now has a license to get into the wealthiest refrigerators in the nation. And they are targeting the wealthy with their acquisition of Whole Foods, but they still don’t have license or permission to get into our closets because the aspirational beauty and fashion brands don’t want to distribute through Amazon; however, buying Nordstrom would get them those relationships overnight.

Nordstrom is an exceptionally well-run company. They’re in Seattle. This thing just fits kind of hand-and-glove; however, there’s an X factor here. And the X factor is that Nordstrom is family controlled, meaning the decisions are made around the Thanksgiving dinner table as opposed to its shareholder meeting. So we’ll see.

But likely the acquisitions that’ll take place will be little unknown companies that help fill out, or fill in, some holes in their fulfillment network. But you can also see the company going after some niche cable networks, maybe an AMC or a Scripps, as they realize original content creates intensity across those 60% of US households that are now Prime members by going in and picking up some cable broadcast companies.

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Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

‘Crime of the century’: Facebook finds 0.004% of election posts are Russia-based ahead of hearing

According to written testimony by Facebook, they identified 80-thousand posts, published by what it alleges were ‘Russia-based operatives.’ But that amounts to just 0.004% of all posts about the US election. However, Facebook’s General Counsel called the messages a ‘new threat’ against everything it stands for, labelling them ‘unacceptable.’ The site says 126mn Americans may have seen the posts, over 2 years. READ MORE: https://on.rt.com/8r0s

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Here’s why people think Melania Trump was replaced by a body double — and why they’re wrong

A crazy new conspiracy theory about the First Lady has recently gotten the attention of the Internet. Some Facebook and Twitter users seem to think that Melania Trump has been replaced by a body double after a recent TV appearance. The images have sparked a heated debate and, of course, plenty of memes and jokes. Following is a transcript of the video.

There’s a new conspiracy theory about Melania Trump.

People on Twitter think she might have a body double.

Donald Trump: “My wife, Melania, who happens to be right here.”

A woman on Facebook started the debate.

Then a man named Joe Vargas spread it further.

Other people started to chime in on the conspiracy.

Some pointed out a height difference in the photos.

Others thought her face looked different, and the glasses were used as a disguise.

There’s also a Secret Service agent that resembles her.

People think the agent could be the body double.

It quickly turned into a meme, with plenty of jokes.

Ultimately, it’s not true.

A side-by-side comparison shows this is Melania.

Other photos from that day also show it was her.

Here’s a look at Melania without her glasses.

While the theory has been debunked, the meme lives on.

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Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.

UK plan to consider FB & Google as media outlets, control freedom of speech

Social media giants are feeling the heat again. The British MPs want the likes of Facebook and Google to be classified as media outlets, meaning they’d be subjected to greater regulation, which raises concerns about freedom of speech.
RT discussed the issue with media commentator Neil Wallis and Stephen Green from Christian Voice Advocacy group.

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People are accusing this Dove ad of being racist

Dove is the latest marketer to find itself in hot water, after it ran what many see as a racist ad on Facebook last week.

The beauty brand posted a 3-second video on its US Facebook page on Friday, showing a black woman removing her top to reveal a smiling white woman underneath. On Saturday, the brand said that it had removed the clip in a tweet, and also apologized.

While the Unilever brand is hardly the first to find itself embroiled in a public relations crisis this year, Dove is likely to take a bigger hit to its brand than others, including Pepsi (which was hammered earlier this year for a Kendall Jenner-starring ad), say experts.

That is because the Dove ad isn’t just tone-deaf. More problematic is that the ad’s message seem to stands staunchly against everything that the company’s much-praised, pro-female marketing has stood for over the past decade.

Dove responded to Business Insider’s request for comment, saying that the short video was intended to convey that Dove Body Wash is for every woman and be a celebration of diversity, “but we got it wrong.” The brand also said the video “did not represent the diversity of real beauty, which is something Dove is passionate about and is core to our beliefs” and that it was “re-evaluating our internal processes for creating and approving content to prevent us making this type of mistake in future.”

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Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.