Minority Mindset looking forward to the day you break into the 1m viewers club. Been watching since the first video - well deserved brother. Sher banke!!!
Minority Mindset is it worth owning/buying 1 share of amazon? Or shall I wait/save until I can buy multiple? Which brokers are good for a fellow newbie investor?
I recently had an epiphany while standing in a retail line waiting on the single open register. The reason in-person shopping is losing is because the people running it are drilling employees and wasting time over things like end caps and coupon exclusions rather than focus on the main pain of retail: checkout aka the close. Their closing ability is dead. People feel slighted when a billion dollar company hikes prices then makes everyone wait on the single register and the one overworked underpaid person working it. So much so they would rather order it online for slightly less(maybe more even) and not have to deal with the inefficiency, even waiting days or a week on something they could drive 2 miles to get. There are usually more people predatorily trying to get you to buy things than to help you actually complete the transaction. I can bet I'm not the only person who has seen a line and said "f$;k it, I'm not waiting 30 minutes to save 3 dollars".
The world has changed so much in just my lifetime and I'm only 20. The internet continues to change our world in ways we never predicted. There are so many things that could be created to replace jobs, transportation, medicine, etc. We are on the edge of creating virtual reality. You have to wonder if the futures jobs will be 99% at home internet jobs...
Quick story: A few years ago I worked at retail store and struck up a conversation with one of the mangers about this exact same topic. I asked how ecommerce was going to affect the landscape of the business, since it seemed like that ms where things were going. The manager basically brushed it off and didn't think it would ever happen. Fast forward to this past summer where I got in contact with him again. He told me that dozens of stores were closing and managers were being let go because online shopping was the "trend" he said. I think it's going to be more than just a trend.
A thought that just occurred to me while watching this video: all of these soon to abandoned malls could probably get snatched-up on the cheap by Amazon to become an *entirely* Amazon branded shopping center.
I've cancelled my amazon subscription and I won't do business with anyone they are affiliated with anymore. Ill stick with selling on ebay and supporting any small business I can. If our anti-trust laws can't shut down the monopoly amazon is building we need some new laws. No amount of convenience is worth giving up having a choice of businesses to buy from. Not to mention how badly they treat their employees
Not sure if you mentioned that Amazon ships out clothes for you to try them out before owning it. Now they have amazon knock where they deliver package right inside your house... Soon it'll be amazon fridge where the agent will come and stock inside your fridge for groceries delivery. How sick is that!
Why should that be sick? Open up your mind. I would love the convenience, price reduction and service quality. I can allot more time to my work and concentrate more.
I agree to some extent. However, If in need something I need it now. I dont like waiting for a package to be delivered. In terms of clothing I want to go to the store and try them on. Yes, an online service can send clothes for me to try on but I dont want to deal with a bunch of boxes that I have to throw away and repackage anything to send back. Its much easier for me to go to the store and try as many clothes that I want, buy what I need and be done with it.
Having worked for FedEx, the amount of people that buy bulk food and frozen prepared meals is absolutely terrible. Same with all of their pet food and supplies. Walmart and chewy takes up about half of my truck DAILY and they usually ship stuff in multiple orders so you are at the same houses constantly. Not to mention they're cutting every corner so most of it is packaged so poorly.. having said that if you get something broken from a bulk retailer, don't be surprised. 80% of the time it's not your delivery driver because by the time we get them on our truck, we have already re-taped or repackaged the box because of it leaking or the box blowing apart.
I like the end of your video, where the essence of what you were saying is "don't play the victim" card. So many people spend too much time complaining about the challenges, instead of spending their precious energy on finding solutions to the challenges. Did my parent's have a better financial era that I do? Of course! But sitting around complaining about it only pulls a person down even more. Instead, look for solutions. Example: Colleges are indeed crazy expensive. But does a person need to go to an expensive college all four years to get their degree? No! They can do what my son did, where he lived at home and attended a community college the first two years (which is much, much cheaper), and then he transferred to his favorite school for the last two years. It may not be quite as fun as living away from home for the first two years of college, but a student graduates with the same degree and a whole lot less debt than if they attended their dream college for all four years! The rules of the game are changing faster than ever, so those that figure out the new rules the soonest, and then adapt the quickest, will be the winners. The one constant I know to be true is that you cannot stop change, so either be a part of that movement or get left behind.
Rob Typher Now with digital learning because of Covid. Expensive schools are going to have to lower their tuition, or students will look elsewhere. My job is actually suggesting* we work from home until the end of next year. I have friends who are planning to leave LA, because they can now work from home. So, yeah, get ready for the changes to come. Because most I know, don’t want to go back to the way it was. Be safe 😷
For us in South Africa e-commerce exists but it's not big enough to radically change the retail industry because our ICT infrastructure is not as well developed as first world countries. But in time we will get there.
It is not all amazon doing this, the economy is quite terrible. Market share of online has not made up the difference in stores closing, its cause normal working people are broke. END FED
stasyszy yep they've been lying to us for a long time now...The recession never ended and I think that we never really even recovered from 9/11,which means that the recession started a lot longer they we have been told
I sold on Amazon for about six months until my business was shut down (suspended indefinitely) by Amazon because of anonymous complaints from rival sellers. There was one complainant that wasn't anonymous and I know they were lying because they never received the product that they complained was a counterfeit, but Amazon have supported them at every stage.
As a former Circuit City employee, their demise was of their own doing. Overexpanding, dismissing the value of appliances, and good stores having to carry the slack of underperforming stores is what really did them in. Amazon was still a youngster, albeit, a formidable one.
At 66 I’m finally ready to try something different. I worked all my life never saved never invested. I know it late in the game but I’m going to gut it out starting NOW!
It's crazy how much respect Amazon has lost over a 3 year period, especially during this Pandemic in how they have been treating their employees. And yet, people still want to choose convenience over ethics.
You would think with anchoring bias, you wouldn't get that "You need to see to buy" argument. After the first time works out, people's fears are relieved. You only need to get them to try it once.
Brother thank you for all the info your sharing with us. It is truly appreciated and needed. Man I pray you even more success!!!! Your information is like the financial success itself. Thank you brother!
2:22 FACTS...just ordered my first Amazon Fresh. Two friends of mine suggested I try it...I live across the street from Target and I can’t be bothered...two crowded or I end up over spending when I shop. I feel badly because I understand the implications of using the service but I guess not enough to not use it. I’m a prime user too. Just sent my Aunt some headphones... 2:22
too* overspending* bad* aunt* Don't worry, using the service only means that the competition isn't doing as well. Don't feel bad when a business shuts down because it can't meet your standards.
Business is moving online, and online is taking over, Personal Branding is also taking over!! I just posted a video about it too! Well spoken as always!
Just found your channel. Good video. One thing, though. I can't speak to your other examples, but: Amazon didn't put Blockbuster out of business, Netflix did. As to headphones/speakers. Yeah, if you just want a cheap solution to be able to hear sound at all, and your only requirement is that they don't sound like >total< crap, then buying headphones online is fine. But if you're in the market for something expensive/high quality? You can't look at a pair of speakers to know what they sound like, and there's only so much a review can tell you. You have to hear it to believe it. As to "meal delivery service", the terminology makes it sound like an innovation/something new, but in reality restaurants have been delivering meals to people's homes for decades. Although delivering food in specific portions for a meal that you have to cook yourself is a new thing. I'd think that service probably best suits someone new to cooking or who wants to try out a new recipe without buying out the store/having too many leftovers of each ingredient. I'm not sure whether you were talking about pre-cooked or you-cook meals? Job loss is a concern for a lot of people. That is true. Important thing to point out, and glad you brought it up. My concern however is that I never shop online and don't want to be forced to start doing so. While I can live without movie rentals and other entertainment, and so can just ignore those types of shops closing, clothes for example are something I need to keep buying periodically. As a matter of practicality, I need to try on my clothes before buying them. Even if I wanted to buy online, more than half of pants I try on in my size are either too tight or too lose or otherwise don't fit well, and I would be guaranteed to have to overbuy and ship a lot back, which is a much bigger hassle than just going to the store and returning things to the bin without having to purchase them. Besides clothes, another thing is, unless I already know in advance the specific product I'm looking for, it's always *much* easier for me to shop walking through aisles than it is to sort through web pages. Despite having grown up on video games and the internet, navigating physical environments to find the products I want is still more intuitive and convenient to me than navigating virtual ones. But the inconvenience (to me) of potentially having no options shopping for clothes and so forth other than online is just that, a potential inconvenience. I have much more important things to worry about. What actually has me worried, is groceries. I need those to live, yo. While it might be convenient to have the *option* of ordering food online, I don't want my neighborhood grocery store to close down, leaving me *dependent* on it. What if my computer breaks? I can't buy food unless I spend $100 to get it fixed? And I still can't eat because I can't use the internet while I'm waiting for it to get fixed! Or, what if I didn't have a big ol' computer no one wants which stays in one place at all times, and just had a cell phone, and that got lost or stolen? No food for me? Or what if my internet connection goes down or my electricity goes out? I can't buy food? What if I don't want to (or can't afford to!) pay for an internet connection for a few months or longer, I'm going to starve to death? While restaurants will probably stick around, if for a period of time I can't afford the internet, I doubt I'll be able to afford to eat out every single day, either! There are just so many >more< ways that things can go wrong which would prevent someone from buying food if they could only get it online than if they could only get it from a grocery store, that if I had to choose one or the other I'd definitely pick buying things in person! The only time online would be potentially less hazard-prone is if someday I become so crippled that I couldn't even walk to my car to drive to the grocery store (or walk across the street since actually I live less than a block from a good-sized one), but if I ever became THAT bad off then I'd be eligible for Meals on Wheels anyway, which I consider a sufficient back-up plan for that scenario. Of all the things people are buying online, groceries are the only ones that worry me. I wouldn't concern myself with other people's shopping habits, and continue to purchase things the way I prefer and shrug at other people purchasing things the way they prefer, but if online grocery shopping gets popular enough, it has the potential to put my local grocery store out of business! Anything that increases or has the potential to increase the number of things that can go wrong/or the number of obstacles/potential obstacles to me accessing food, makes me worry. Access to food is not just a matter of convenience, but a matter of life and death!
Retail cannibalized itself by adding too much floorspace--especially for non-essential merchandise that didn't require that much turnover. There are only so many boutiques, jewelry stores and electronics shops that a given area can support. Furthermore, the first thing that gets cut from a household budget during the inevitable downturns is these very items. This expansion in the 90s and early 2000s was not so much to meet a vast demand, but to demonstrate growth for shareholders to boost CEO bonuses. Just like malls and then big box stores pummeled downtown merchants with expansion and scale, online led by Amazon is eating big box's lunch. So, the decline of brick and mortar can be linked to greed and lack of innovation.
The world of 'Retail Shopping just got better '. Order, Try Out & Return. My experience tells me not to buy anything based on the Photographs as U will mostly regret your Purchase.
It's great, the convenience...but it is also kind of sad to see the brick and mortar going away. I grew up with many of these places that are now closed down.
I think Best Buy and Walmart are more responsible for the faiing of Circuit City than the Internet or Amazon is, considering Circuit City close quite a while ago.
Online sales are only 11-14%... that’s not the whole reason for retail collapse. The real reason. The death of the middle class. It’s gone. People can’t afford their cars, homes and medical insurance. Crap food is cheap and our health is suffering. Maybe with fewer jobs moms can stay home and raise their own kids.
oh how dare you?! jk. i was raised in the 80's/90's and am part of what i call the "daycare generation" where both parents went to work and their children were raised in daycares and by babysitters. think about what is going to happen when the parents need to be taken care of? yep, into an "adult daycare" while the children work to pay for it. cyclical. we've removed the heart of family in this country
Well, my country is not that developed but you could already order a pizza on yahoo messenger like 10 years ago so it's not like this whole online shop thing is suddenly out of the blue.
Warehouse jobs maybe. However, Amazon takes really good care of it's employees that are behind their enormous research and development teams. Some of the smartest people in the world work for amazon, and it makes sense that a titan of the industry has to treat it's valuable talent well. Amazon has to hire employees to grow their empire and their top talent is constantly being scouted by other titans (Google, apple, Facebook) at either premium salries and benefits. So yes, if you don't get with the times where talent in demanded you'll get treated like shit. If you're in demand you'll get treated like gold. Amazon's current headquarters is also located in Seattle, the next one who knows, but they strategically made Seattle one of their hq's it's an attractive location for young talent. Amazon does take care of it's employees, its not in their interest to lose in demand skills, but rather create environments that attract it.
In India specially in Big cities grocery, food, milk, yoghurt, vegetables almost everything is delivered to home and this happened before amazon had any presence. Also this is done by every small vendors. How do you think Amazon would compete? In USA this seems to be impossible right now because the labour cost is very high.
Amazon is an amazing company but, Monopolies are no good for many in the economy, not just in terms of job loss. Eventually quality will fall plus someone has to pay the price for the cheap products we consume. We buy a pair of headphones for 5 dollars, some poor kid in the Congo has to be a slave to mine the metals needed from a mine that's polluting the river that people drink from to keep the price low. Premature death is the price they pay because we haven't divided up the costs fairly.
Amazon takes 33% of your profit when you sell on their platform. I went to Ebay because they only take 10%. Unless you have money to burn, don't sell on Amazon. You will not make a profit, or break even.
Awesome video, and I LOVE Amazon, but how do you feel about Amazon's lack of profitability? For over 15 years they've been struggling to make a profit. This year their operating income decreased by 6% while their sales increased by 24 percent.
I totally get your point to market yourself, if nothing else these days. However by the time Amazon shuts down Kroger's, Walgreens and Walmart there'll be a basic universal wage. AI won't last without it and not all 6 million people, or 20 million by then, will find programming jobs. Plus there must be highways built and an infrastructure maintained for even Amazon to work.
Also, the stock market is a terrible way to judge a company. The majority of investors aren’t buying shares directly from the company and there’s so many loopholes... its a totally different ballgame. Companies never bounce back after a little dip? Come on lol 😆
This notion that the sudden appearance of the Internet and "on-line shopping" is totally responsible for closing traditional stores is a flawed argument. Long before the Internet there were a variety of "mail order catalogs" which were basically the precursor of on-line shopping, allowing people to have items delivered, without actually going to a store. The Internet is just an enhanced mail order catalog; the basic idea of "shopping from home" probably goes back to the 1800's. Thus, physical stores have always been competing with "mail order catalogs". And the fact that certain physical stores, such as Walmart, have been quite successful shows that the Internet has not destroyed all the physical stores out there. Times change and businesses need to adapt; the business world has always worked this way.
Mac Joseph - Exactly , and I am really surprised that they lasted as long as they did/ have . However , I wish that they could have at least kept making their realistic car stereos , because ""' they had very good sound quality "" !!.
Honestly Retail cant realy die, yes online shopping has increased and employee work being replaced by automation is a concern. But people still enjoy the feeling of being in a store, and going physically shopping. Retail stores arent actually dying we're just seeing the effects of slow inetragtion of full blown investments in online integration and shopping. Bias Option: Amazon is evil...
Until Augmented Reality, Virtual Reality and similar technologies become more available. I think we will be able to feel and try on things from home soon. :)
Amazon doing groceries and Prime NOW suck... Just so lazy people or rich people with a time crutch can force underpaid workers to slave away to get their shit to them in a few hours. Amazon Fresh is the worst... heavy grocery bags you have to basically carry for the customer... They are also doing this thing called Treasure Truck. So a meals on wheels is not beyond them. Soon they’ll probably start doing pets, car parts, furniture, just whatever they cram into a warehouse to stuff their wallets. Working for Amazon Prime Now sucks... In addition they got 1Bil from tax breaks while destroying retailers... but not paying their employees more...
Hello Jaspreet do I need to have a job to start a online store. If not, how much money do I need to have to even start and run a sustainable business..
Carlos Monteiro Yes- the restaurant industry is growing especially in major cities... mid priced chain restaurants like Applebees or Buffaloe Wild Wings are struggling because the current trend is people in general either want to go to places that are cheaper/faster or super fancy, advancing technology isn't making people not want to leave their house and go out to restaurants
Thank you for watching! If you enjoyed this video, you should watch: 3 Lies We're Told About Money th-cam.com/video/L-wDAeu-aII/w-d-xo.html
Minority Mindset looking forward to the day you break into the 1m viewers club. Been watching since the first video - well deserved brother. Sher banke!!!
Hello jaspreet, I would like to talk you about shout out at instagram would mind giving me your email?
Minority Mindset is it worth owning/buying 1 share of amazon? Or shall I wait/save until I can buy multiple?
Which brokers are good for a fellow newbie investor?
Minority Mindset is it still worth buying shares in Amazon?
I wonder how companies like Ocado and Instacart will counter, if Amazon Fresh aggressively pushes into their market?
I recently had an epiphany while standing in a retail line waiting on the single open register. The reason in-person shopping is losing is because the people running it are drilling employees and wasting time over things like end caps and coupon exclusions rather than focus on the main pain of retail: checkout aka the close. Their closing ability is dead. People feel slighted when a billion dollar company hikes prices then makes everyone wait on the single register and the one overworked underpaid person working it. So much so they would rather order it online for slightly less(maybe more even) and not have to deal with the inefficiency, even waiting days or a week on something they could drive 2 miles to get. There are usually more people predatorily trying to get you to buy things than to help you actually complete the transaction. I can bet I'm not the only person who has seen a line and said "f$;k it, I'm not waiting 30 minutes to save 3 dollars".
Victor Fuentes that's me right there! Agree 100%
Amazon didn't shut down Blockbuster, Netflix did.
Actually, both Netflix and Amazon made Blockbuster go down.
Blockbuster had an opportunity to merge with Netflix and they would have lived on today with the Netflix name. Too bad for them.
Amazon is nothing in Australia.
Simon Bell redbox shut down Netflix. And Netflix is shutting down redbox :(
Gumardee coins and banknotes to everyting its time
The world has changed so much in just my lifetime and I'm only 20. The internet continues to change our world in ways we never predicted. There are so many things that could be created to replace jobs, transportation, medicine, etc. We are on the edge of creating virtual reality. You have to wonder if the futures jobs will be 99% at home internet jobs...
Quick story:
A few years ago I worked at retail store and struck up a conversation with one of the mangers about this exact same topic. I asked how ecommerce was going to affect the landscape of the business, since it seemed like that ms where things were going. The manager basically brushed it off and didn't think it would ever happen. Fast forward to this past summer where I got in contact with him again. He told me that dozens of stores were closing and managers were being let go because online shopping was the "trend" he said. I think it's going to be more than just a trend.
Last time i was so early, youtube wasnt even around 😅😂
Dazger
Thanks!
Last time I was this early, people didn't ask to like and subscribe before the video even started
2 of the local mall's have 90% of their storefronts empty...
Crazy
A thought that just occurred to me while watching this video: all of these soon to abandoned malls could probably get snatched-up on the cheap by Amazon to become an *entirely* Amazon branded shopping center.
3,500 retail stores are expecting to shut their doors in the US alone for 2017. The writing is on the (brick-and-mortar) wall.
malls*
Ali express fixes it shipping times they can easily beat Amazon plus Amazon mostly relies on their products from alibaba.
Nsingh11 SSSSHHHH!!!
I've cancelled my amazon subscription and I won't do business with anyone they are affiliated with anymore. Ill stick with selling on ebay and supporting any small business I can. If our anti-trust laws can't shut down the monopoly amazon is building we need some new laws. No amount of convenience is worth giving up having a choice of businesses to buy from. Not to mention how badly they treat their employees
Not sure if you mentioned that Amazon ships out clothes for you to try them out before owning it. Now they have amazon knock where they deliver package right inside your house... Soon it'll be amazon fridge where the agent will come and stock inside your fridge for groceries delivery. How sick is that!
arul s
, Having fewer choices of important things in life is not ‘sick’. Zoom out young whippersnapper.
Yo Cecil Amazon is creating the choice, not removing it. No one else is doing Amazon Fridge, so it is creating choices.
Why should that be sick? Open up your mind. I would love the convenience, price reduction and service quality. I can allot more time to my work and concentrate more.
It depends on how you look at it. Listen to the legend George Carlin on Choices th-cam.com/video/yt49DsfKDMc/w-d-xo.html
Media Matters I think he means sick as in cool..
I agree to some extent. However, If in need something I need it now. I dont like waiting for a package to be delivered. In terms of clothing I want to go to the store and try them on. Yes, an online service can send clothes for me to try on but I dont want to deal with a bunch of boxes that I have to throw away and repackage anything to send back. Its much easier for me to go to the store and try as many clothes that I want, buy what I need and be done with it.
Having worked for FedEx, the amount of people that buy bulk food and frozen prepared meals is absolutely terrible. Same with all of their pet food and supplies. Walmart and chewy takes up about half of my truck DAILY and they usually ship stuff in multiple orders so you are at the same houses constantly. Not to mention they're cutting every corner so most of it is packaged so poorly.. having said that if you get something broken from a bulk retailer, don't be surprised. 80% of the time it's not your delivery driver because by the time we get them on our truck, we have already re-taped or repackaged the box because of it leaking or the box blowing apart.
I like the end of your video, where the essence of what you were saying is "don't play the victim" card. So many people spend too much time complaining about the challenges, instead of spending their precious energy on finding solutions to the challenges.
Did my parent's have a better financial era that I do? Of course! But sitting around complaining about it only pulls a person down even more. Instead, look for solutions. Example: Colleges are indeed crazy expensive. But does a person need to go to an expensive college all four years to get their degree? No! They can do what my son did, where he lived at home and attended a community college the first two years (which is much, much cheaper), and then he transferred to his favorite school for the last two years. It may not be quite as fun as living away from home for the first two years of college, but a student graduates with the same degree and a whole lot less debt than if they attended their dream college for all four years!
The rules of the game are changing faster than ever, so those that figure out the new rules the soonest, and then adapt the quickest, will be the winners. The one constant I know to be true is that you cannot stop change, so either be a part of that movement or get left behind.
Rob Typher Now with digital learning because of Covid. Expensive schools are going to have to lower their tuition, or students will look elsewhere. My job is actually suggesting* we work from home until the end of next year. I have friends who are planning to leave LA, because they can now work from home. So, yeah, get ready for the changes to come. Because most I know, don’t want to go back to the way it was. Be safe 😷
For us in South Africa e-commerce exists but it's not big enough to radically change the retail industry because our ICT infrastructure is not as well developed as first world countries.
But in time we will get there.
Karabo Madiba yeah really something worth striving for 🙄
This is why I prefer to stay a step ahead.
Not a bad idea
How exactly do you stay a step ahead?
It is not all amazon doing this, the economy is quite terrible. Market share of online has not made up the difference in stores closing, its cause normal working people are broke. END FED
It's good to see that some people in this world see through the smoke and mirrors.
stasyszy yep they've been lying to us for a long time now...The recession never ended and I think that we never really even recovered from 9/11,which means that the recession started a lot longer they we have been told
I sold on Amazon for about six months until my business was shut down (suspended indefinitely) by Amazon because of anonymous complaints from rival sellers. There was one complainant that wasn't anonymous and I know they were lying because they never received the product that they complained was a counterfeit, but Amazon have supported them at every stage.
As a former Circuit City employee, their demise was of their own doing. Overexpanding, dismissing the value of appliances, and good stores having to carry the slack of underperforming stores is what really did them in. Amazon was still a youngster, albeit, a formidable one.
At 66 I’m finally ready to try something different. I worked all my life never saved never invested. I know it late in the game but I’m going to gut it out starting NOW!
Jaspreet you’re so cute and so smart. Love watching your videos.
Liz Trevino why you so thristy
Is u thirsty or nah? 😂
Thirsty?
Minority Hookups. New channel incoming!! #foreshadowed
hiphop2kful K I don't think that word means what you think it does.
THIS IS ONE OF MY MOST FAVORITE VIDEO IN 2017.. IT HAS REALLY WAKEN ME UP
It's crazy how much respect Amazon has lost over a 3 year period, especially during this Pandemic in how they have been treating their employees. And yet, people still want to choose convenience over ethics.
You would think with anchoring bias, you wouldn't get that "You need to see to buy" argument. After the first time works out, people's fears are relieved. You only need to get them to try it once.
Brother thank you for all the info your sharing with us.
It is truly appreciated and needed.
Man I pray you even more success!!!!
Your information is like the financial success itself.
Thank you brother!
2:22 FACTS...just ordered my first Amazon Fresh. Two friends of mine suggested I try it...I live across the street from Target and I can’t be bothered...two crowded or I end up over spending when I shop. I feel badly because I understand the implications of using the service but I guess not enough to not use it. I’m a prime user too. Just sent my Aunt some headphones... 2:22
too* overspending* bad* aunt*
Don't worry, using the service only means that the competition isn't doing as well. Don't feel bad when a business shuts down because it can't meet your standards.
Nia Neek you're a dumb ass zombie
Business is moving online, and online is taking over, Personal Branding is also taking over!! I just posted a video about it too! Well spoken as always!
I love your videos and your honest opinions backed with proven sources. I hope your channel becomes huge.
Just found your channel. Good video. One thing, though. I can't speak to your other examples, but:
Amazon didn't put Blockbuster out of business, Netflix did.
As to headphones/speakers. Yeah, if you just want a cheap solution to be able to hear sound at all, and your only requirement is that they don't sound like >total< crap, then buying headphones online is fine. But if you're in the market for something expensive/high quality? You can't look at a pair of speakers to know what they sound like, and there's only so much a review can tell you. You have to hear it to believe it.
As to "meal delivery service", the terminology makes it sound like an innovation/something new, but in reality restaurants have been delivering meals to people's homes for decades. Although delivering food in specific portions for a meal that you have to cook yourself is a new thing. I'd think that service probably best suits someone new to cooking or who wants to try out a new recipe without buying out the store/having too many leftovers of each ingredient. I'm not sure whether you were talking about pre-cooked or you-cook meals?
Job loss is a concern for a lot of people. That is true. Important thing to point out, and glad you brought it up. My concern however is that I never shop online and don't want to be forced to start doing so.
While I can live without movie rentals and other entertainment, and so can just ignore those types of shops closing, clothes for example are something I need to keep buying periodically. As a matter of practicality, I need to try on my clothes before buying them. Even if I wanted to buy online, more than half of pants I try on in my size are either too tight or too lose or otherwise don't fit well, and I would be guaranteed to have to overbuy and ship a lot back, which is a much bigger hassle than just going to the store and returning things to the bin without having to purchase them. Besides clothes, another thing is, unless I already know in advance the specific product I'm looking for, it's always *much* easier for me to shop walking through aisles than it is to sort through web pages. Despite having grown up on video games and the internet, navigating physical environments to find the products I want is still more intuitive and convenient to me than navigating virtual ones.
But the inconvenience (to me) of potentially having no options shopping for clothes and so forth other than online is just that, a potential inconvenience. I have much more important things to worry about.
What actually has me worried, is groceries. I need those to live, yo.
While it might be convenient to have the *option* of ordering food online, I don't want my neighborhood grocery store to close down, leaving me *dependent* on it. What if my computer breaks? I can't buy food unless I spend $100 to get it fixed? And I still can't eat because I can't use the internet while I'm waiting for it to get fixed! Or, what if I didn't have a big ol' computer no one wants which stays in one place at all times, and just had a cell phone, and that got lost or stolen? No food for me? Or what if my internet connection goes down or my electricity goes out? I can't buy food? What if I don't want to (or can't afford to!) pay for an internet connection for a few months or longer, I'm going to starve to death? While restaurants will probably stick around, if for a period of time I can't afford the internet, I doubt I'll be able to afford to eat out every single day, either!
There are just so many >more< ways that things can go wrong which would prevent someone from buying food if they could only get it online than if they could only get it from a grocery store, that if I had to choose one or the other I'd definitely pick buying things in person! The only time online would be potentially less hazard-prone is if someday I become so crippled that I couldn't even walk to my car to drive to the grocery store (or walk across the street since actually I live less than a block from a good-sized one), but if I ever became THAT bad off then I'd be eligible for Meals on Wheels anyway, which I consider a sufficient back-up plan for that scenario.
Of all the things people are buying online, groceries are the only ones that worry me. I wouldn't concern myself with other people's shopping habits, and continue to purchase things the way I prefer and shrug at other people purchasing things the way they prefer, but if online grocery shopping gets popular enough, it has the potential to put my local grocery store out of business! Anything that increases or has the potential to increase the number of things that can go wrong/or the number of obstacles/potential obstacles to me accessing food, makes me worry.
Access to food is not just a matter of convenience, but a matter of life and death!
Retail cannibalized itself by adding too much floorspace--especially for non-essential merchandise that didn't require that much turnover. There are only so many boutiques, jewelry stores and electronics shops that a given area can support. Furthermore, the first thing that gets cut from a household budget during the inevitable downturns is these very items. This expansion in the 90s and early 2000s was not so much to meet a vast demand, but to demonstrate growth for shareholders to boost CEO bonuses. Just like malls and then big box stores pummeled downtown merchants with expansion and scale, online led by Amazon is eating big box's lunch. So, the decline of brick and mortar can be linked to greed and lack of innovation.
But who will destroy amazon
Ronald Malcolm r tu
Amazon also gets ton of taxpayer subsidiaries too which is an unfair advantage that most grocery stores don't have. We need to stop company subsidies
The world of 'Retail Shopping just got better '. Order, Try Out & Return. My experience tells me not to buy anything based on the Photographs as U will mostly regret your Purchase.
Great video man keep up the good work my man
It's great, the convenience...but it is also kind of sad to see the brick and mortar going away. I grew up with many of these places that are now closed down.
Thank you. You are so knowledgable
I think Best Buy and Walmart are more responsible for the faiing of Circuit City than the Internet or Amazon is, considering Circuit City close quite a while ago.
Also Kroger has clicklist where people order what they want and they pick it up 2 or 3 hours later
Online sales are only 11-14%... that’s not the whole reason for retail collapse. The real reason. The death of the middle class. It’s gone. People can’t afford their cars, homes and medical insurance. Crap food is cheap and our health is suffering. Maybe with fewer jobs moms can stay home and raise their own kids.
oh how dare you?! jk. i was raised in the 80's/90's and am part of what i call the "daycare generation" where both parents went to work and their children were raised in daycares and by babysitters. think about what is going to happen when the parents need to be taken care of? yep, into an "adult daycare" while the children work to pay for it. cyclical. we've removed the heart of family in this country
Correct and with automation you don't have machines running around buying stuff.
no amazon in australia. Yet
FLEAm8 really?
Well, my country is not that developed but you could already order a pizza on yahoo messenger like 10 years ago so it's not like this whole online shop thing is suddenly out of the blue.
I no dis is going to sound strange but I think your videos are getting even better 😱
Supermarkets all delivers now. The business is popular in UK. Ocado has done well with this model.
Thank you for your very informative videos
You should start your own tv news segment. With content like this, I’d tune in and tell others to tune in as well. #StayWokeMyFriends
We really need this channel to be big in South Africa
I think this video is before Amazon GO which is a retail store but everything is computerised by using machine learning.
Good advice. I love your videos.
Amazon doesn't take care of their employees I hear.
Neither does Walmart (or the majority of retailers for that matter), didn't seem to stop Joe Consumer unfortunately.
Warehouse jobs maybe. However, Amazon takes really good care of it's employees that are behind their enormous research and development teams. Some of the smartest people in the world work for amazon, and it makes sense that a titan of the industry has to treat it's valuable talent well. Amazon has to hire employees to grow their empire and their top talent is constantly being scouted by other titans (Google, apple, Facebook) at either premium salries and benefits. So yes, if you don't get with the times where talent in demanded you'll get treated like shit. If you're in demand you'll get treated like gold. Amazon's current headquarters is also located in Seattle, the next one who knows, but they strategically made Seattle one of their hq's it's an attractive location for young talent. Amazon does take care of it's employees, its not in their interest to lose in demand skills, but rather create environments that attract it.
I love this channel. Dope wisdom. You’re woke as hell and ahead of the pack man keep it up!
In India specially in Big cities grocery, food, milk, yoghurt, vegetables almost everything is delivered to home and this happened before amazon had any presence. Also this is done by every small vendors. How do you think Amazon would compete? In USA this seems to be impossible right now because the labour cost is very high.
It's killing social interactions with people
I buy stuff online often. But only if it’s a really good deal. I’d rather go shopping.
Good Job Minority Mindset...
Excellent video....again.
The irony is that when Amazon puts the competition out of business and has full monopoly, the prices will go up.
Andy Smith - If it gets to big ad powerful , the Federal Government will probably break it up like it did Ma Bell back in the 1970's .
Great points
I just discovered this channel. Valuable info and I like the turban. Subbed.
Amazon is an amazing company but, Monopolies are no good for many in the economy, not just in terms of job loss. Eventually quality will fall plus someone has to pay the price for the cheap products we consume. We buy a pair of headphones for 5 dollars, some poor kid in the Congo has to be a slave to mine the metals needed from a mine that's polluting the river that people drink from to keep the price low. Premature death is the price they pay because we haven't divided up the costs fairly.
I thought Netflix put blockbuster out of business?
whistlelike killbill Redbox too
Make a how to sell on Amazon video please. I'm learning about dropshipping and I'm so confused.
Sears Canada shut down yesterday, Hudson's Bay Company very soon..
Well what if your phone gets hacked and steal all your info when buying stuff online?
personally I hate shopping in stores so I love online shopping and the age I'm living in
Netflix caused Blockbuster to go out of Business, not Amazon
The Marlboro Man Redbox too
Your amazing love watching your videos
Common sense, innovation and convenience is the perfect business combination. Credit to Amazon.
Wow i just moved next whole food 2 blocks away , ill stop in too see what prices are lol
Amazon takes 33% of your profit when you sell on their platform. I went to Ebay because they only take 10%. Unless you have money to burn, don't sell on Amazon. You will not make a profit, or break even.
Hah, I love the way you hit that *HUUustling* tone at the end- kinda makes me think of Aziz Ansari.
Welllllllll Netflix was the one who got Blockbuster but I get what you're saying.
hey Jaspreet, where do you do your research? I'd love to know so I can keep up with shifts too
Awesome video, and I LOVE Amazon, but how do you feel about Amazon's lack of profitability? For over 15 years they've been struggling to make a profit. This year their operating income decreased by 6% while their sales increased by 24 percent.
Nick Manning it's just like Uber.It doesn't matter,As long as they can outlast and simultaneously crush the competition they will be "victorious"...
If there are no longer brick and motar stores how do customers try or see new merchandise?
There will always be brick and mortar stores, just not as many as we have today
I totally get your point to market yourself, if nothing else these days. However by the time Amazon shuts down Kroger's, Walgreens and Walmart there'll be a basic universal wage. AI won't last without it and not all 6 million people, or 20 million by then, will find programming jobs. Plus there must be highways built and an infrastructure maintained for even Amazon to work.
Also, the stock market is a terrible way to judge a company. The majority of investors aren’t buying shares directly from the company and there’s so many loopholes... its a totally different ballgame.
Companies never bounce back after a little dip? Come on lol 😆
Nice video!
This notion that the sudden appearance of the Internet and "on-line shopping" is totally responsible for closing traditional stores is a flawed argument. Long before the Internet there were a variety of "mail order catalogs" which were basically the precursor of on-line shopping, allowing people to have items delivered, without actually going to a store. The Internet is just an enhanced mail order catalog; the basic idea of "shopping from home" probably goes back to the 1800's. Thus, physical stores have always been competing with "mail order catalogs". And the fact that certain physical stores, such as Walmart, have been quite successful shows that the Internet has not destroyed all the physical stores out there. Times change and businesses need to adapt; the business world has always worked this way.
RadioShack too. I told my friends new money is ONLINE!!!!!!!
Mac Joseph - Exactly , and I am really surprised that they lasted as long as they did/ have . However , I wish that they could have at least kept making their realistic car stereos , because ""' they had very good sound quality "" !!.
Hey could you do more videos on Real Estate?
Good stuff :)
I have one contradictive complaint Mr. Singh; I love your videos. Keep up the insightful work. #minoritymentorship
Honestly Retail cant realy die, yes online shopping has increased and employee work being replaced by automation is a concern. But people still enjoy the feeling of being in a store, and going physically shopping. Retail stores arent actually dying we're just seeing the effects of slow inetragtion of full blown investments in online integration and shopping.
Bias Option: Amazon is evil...
Victoria Taylor exactly. We're just seeing a downsize in retail stores. People still want to walk in and feel a product.
Victoria Taylor. Very true. The experience will never be replaced so to say retail will die is very unlikely.
Until Augmented Reality, Virtual Reality and similar technologies become more available. I think we will be able to feel and try on things from home soon. :)
Under the Horizon all of that is true but sometimes people go shopping together as a date. So that will never end lol
Marco Meza I'm not a big technology guy, but this definitely makes sense.
Hey I'm early. I feel sad for being this early to be honest
This is very true
And THEY keep telling us the Jobless Rate is going down, LIARS!
So were will amazon find customers if people don't have jobs?
Just imagine all the mall in the United States are close .how many angry women out there.?
Amazon doing groceries and Prime NOW suck... Just so lazy people or rich people with a time crutch can force underpaid workers to slave away to get their shit to them in a few hours. Amazon Fresh is the worst... heavy grocery bags you have to basically carry for the customer...
They are also doing this thing called Treasure Truck. So a meals on wheels is not beyond them. Soon they’ll probably start doing pets, car parts, furniture, just whatever they cram into a warehouse to stuff their wallets.
Working for Amazon Prime Now sucks... In addition they got 1Bil from tax breaks while destroying retailers... but not paying their employees more...
Uuuuuum....netflix put blockbuster out of business. You gave amazon too mich cred on that one
Hello Jaspreet do I need to have a job to start a online store. If not, how much money do I need to have to even start and run a sustainable business..
I believe he has a free e-book for that.
Pretty soon you'll be able to order me on amazon.
I will miss shops when they have all gone
Cool video
Hey I know this is off topic but how do you feel about the app acorn it's an investing app if your not familiar
What about restaurants, will they survive?
Carlos Monteiro Yes- the restaurant industry is growing especially in major cities... mid priced chain restaurants like Applebees or Buffaloe Wild Wings are struggling because the current trend is people in general either want to go to places that are cheaper/faster or super fancy, advancing technology isn't making people not want to leave their house and go out to restaurants
The Amazon killed Circuit City narrative only works if you completely ignore Best Buy’s existence.
I don't get why people are scared it's all wins for everybody so long as we stop the greedy fucks. If you don't believe in money it doesn't exist.
Isn't Amazon bigger than Google?
In a world where government etc want control of the people Amazon will dominate and would get helped out even if they were failing.
People are Generally Getting Lazier, So Businesses will probably have to Adapt
Amazon is basically becoming the monopoly of this generation. The new rocketfeller
I remember when the Federal Government stepped in and broke up Ma Bell back in the 1970's .