“When Google bought YouTube, they could compete against the dominant player in video, which was the cable industry. When Amazon bought Whole Foods, they could compete against Kroger’s and Walmart. When Facebook bought WhatsApp, we could compete against telcos who used to charge 10 cents a text message, but not anymore.Now people can watch video, get groceries delivered, and send private messages for free. That’s competition. New companies are created all the time, all over the world. And history shows that if we don’t keep innovating, someone will replace every company here today.” Mark Zuckerberg, Facebook CEO
Zuckerberg defends tech
The leverageable factors within tech should not make tech firms look like bad eggs. Walmart has private labels and to make those calls, it possibly gets some people into a room to discuss options. That Amazon uses AI to make the decision should not make it an evil company. Nearly all the “bad” tricks we see in big techs happen in our traditional industries. The only difference is that digital technologies have weaponized the efficiency of execution exponentially. So, instead of Walmart understanding just 60% of why ABS Butter will do well as Walmart Butter private label, Amazon could get to 99% on why Amazon Butter will thrive. Focusing on outcomes alone will diminish innovation!