Ecom

[Music][Music][Music][Music][Music][Music]oh right we are live and ready to go manthis has been a while since we have beenback in the studio and I am happy to behere but it's it's a little differenttrying to get everything set back up itmakes it a very difficult day with a lotof things going on and so we're we'vebeen scrambling today but we are readyfor an exciting live stream for you nowwe have taken on sponsorship of thislive stream and you know luckily for meI don't have to try to sell you dietpills or watches like a lot of theseyoutubers are trying to sell you that Iobviously don't take or use the greatthing is we've got so many good partnersin this space that I trust I know andwe're able to bring you advertisementsfrom them to help us continue to getbetter at what we do one of the thingswe're trying to do right now is get setup to where I have a studio set up andthen I have a mobile set up we were inMagento for meet Magento New York wewere in Austin Texas for mage Titansdoing some livestream I'd have to breakeverything down and have to come backhere and have to set it up and thenwe've got color problems and alignmentproblems and it's just an awful lot ofwork for us to create content we'retrying to make it easy and sponsorshipslike this helped now I promise mage mojothat I would get a little commercialgoing that would run at the start ofthese live streams and I'm closed butyou'll see we have so we have somecamera problems I would get them all setup for the live streams and then we tryto run these come you know shoot thesecommercials and colors wrong we've gotsome audio problems I'm gonna run thiscommercial for you I want this is asneak preview I'm probably gonna have toreshoot most of these scenes becauseyou'll see I look like an oompa loompain half of them I want you to tell mewhich one is using the $5,000 setup andwhich one is using the $300 setup I betyou'll be confused about that but let'srun that commercial for mage mojo thefollowing broadcast is sponsored by magemojo I want to take a minute and talkabout Magento hosting because Magentohosting is a lot like hauling stuff inmytundra here it's about having a toolthat is sized properly for the jobthis tundra is great if I'm on the farmand I want to toast something like myold pickup truck here but what if Iwanted to toast something bigger likesay a space shuttle well then this justisn't the right tool for the job and weknow this because today this is apublicity stunt to show how awesome thistruck is it's moving literally having toslow down and that's a lot like Magentoand that you need a proper hostingenvironment I've been doing Magento aslong as magenta has been doing Magentoand then all of that time I've neverseen somebody who can build a site toovercome improper hosting and withincreasing customer demands slow is justnot acceptable mates mojo understandsthe needs of Magento merchants becausethey focus only on Magento hosting andthey've built a reputation as a premierMagento hosting provider they've builtan incredible Magento cloud hostingplatform so that their customers enjoythe speed reliability and scalability ofcloud servers and if you decad abouttechnical details ask them about howthey provide automatic horizontalscaling for free with cloud hosting fromh mojo there's no more worrying aboutflash sales or cyber monday traffic ifyou operate a Magento store then youneed to check out major mojo hosting thelink is in the description of thislivestream or you can just go to magemojo com that's ma GE mo Jo comm and thelink is not in the description because Ihaven't put it in there yet but you cango over to mage mojo dot-com got aninteresting live stream today all bookedup for you today we're welcomed by Nabilmoolah Lee VP of global e-commerce fromDHL and unfortunately Nabil was here forme getting ready for me setting thisthing live and it looks like we havelost him I can flip up say but he'sfrozen so he's just frozen like that soNabil if you happen to be watching thelive stream try to reconnect talk to youthat's the first time I've lost a guestwhile we were actually going live let mesend the bill an email just to make surehe knowsokay he popped back up there he isI've already made the introductions welooked at your frozen face on the screenbut here you are can you hear me okayperfectyeah I'm yes can you hit me I could hearyou just fine the bill thanks forjoining the livestream I've got throughall of the warmupI've got through all the commercialseverything is good to go now we're justgonna talk about the latest trends ine-commerce but first why don't you gottafill us in on your role at DHL maybetell us a little bit about what makesDHL different well I I've been actuallyworking in the logistics space for 12years and 12 years in DHL so I kind ofwent through different words anddifferent jobs in different geographieswhat I do today is I'm in charge of ourglobal product for e-commerce at the HNsupply chain and my responsibility isdeveloping the strategy building thecapabilities that will make us uniqueand the best in the future for anybodythat is basically doing logistics fore-commerce and servicing ecommerceclients as well as working with ourstrategic account management you know onsome of the big engagement we have withour corporate clients so from strategyto execution a working on working andpassionate about that because a and ofcourse we are we are big on on oneverything that is touching supply chainso that's do and what makes DHL unique Ithink there are many things that makeDHL unique we have a huge network ofpeople really working we we are the mostglobal company so we're very proud ofthat and we have a huge diversity inpeople and it looks like we've lostNabil again all right allows us to workwith clients from small and medium yeahokay there you are you froze up for justa second here we're having a little bitof technical difficulty I'm going to forthose at home I can control the feedbackto Nabil as to what you see and I'mgonna take that quality downjust one more notch if we can get overany sort of Internet connectivity issueswe're havinglooks like the stream is going out justfine if you guys are watching this outthere let me know if you're seeing meokay maybe it's my internet who knows itis the first time we've been in thestudio here for probably a month or soto livestream so hopefully everything iscoming out okay we can get through thesetechnical glitches so you had mentionedthat you know your goal is to make DHLthe best and part of that is reallyunderstanding what the latest trends areor what they're going to be so I wantedto you know I want to talk about thisand for those that are watching at homethis is this is a conversation let meknow what you think the latest trends ine-commerce are and what you think whatyour opinions are on all of these topicsthat we talked about here today this isdefinitely an audience participationtype of livestream so for right now whatdo you think the biggest trends ine-commerce are well I think they have afew big trends so maybe let's start withthe one that is the the most obvious andalso the one that is shaking up theindustry is that we are seeing a hugedomination from marketplaces so ofcourse marketplaces we're thinkingobviously about Amazon but it's not onlyAmazon we have you know a powerhouse inthe different industries and differentverticals that are growing and that arethe way companies have to do businessanybody's selling products physican haveto have to self and that's you knowthat's something we Singh has a hugeimpact on the way people do business andyou know if you look at growth numbersof e-commerce today a 60% seetransactions actually done onmarketplaces and that's growing year byyear or so so these major marketplacesare are taking strength and they arebecoming more powerful in every everyweek or every month so so that's I thinksomething to look to look at verycarefully and you know I uhclients and partners and people in theindustry I think rather than trying tocompete we marketplaces you whateveryou're doing yeah marketplaces isdefinitely a big thing now do you do yousee that trend not just growing as inthe marketplaces that already existgetting more and more market share butdo you think customer or merchants willhave to continue to sell on anincreasing number of marketplaces likeis that is that marketplace trend gonnago from general to specific like forinstance right now you go on Amazon youcould sell anything are we going to seeAmazon continue to increase market shareor are we gonna have to also put it on amarketplace for baby stuff and we'realso gonna have to put it on amarketplace for you know whatever ourindustry is or both yes so I think I'm Ithink there are two aspects to thequestion so are we seeing differentmarketplaces a and the number ofmarketplace is growing by verticalabsolutelylike in in life science and healthcarethere are specific needs and they arespecific elements that are required tooperate in that environment so you startto see marketplace is specialized in aspecific industryand you are seeing also a growing numberof market places because eventraditional brands are now opening theirown market when you look at traditionalretailers many of them are also openingtheir own marketplace so I think as aseller as anyone operating in e-commercewe're gonna see that a complexity andthat number of options just going up nowthere are many companies that areworking towards facilitating thatinteraction with multiple companies orwith multiple marketplaces so so yes theamount of places we're gonna go andwe're gonna buy it from you most likelyit's gonna increase specialize byindustries but the same time when welook at a certain certain trends likethe growth of social commerce it is notgonna be so much about whichmarketplaces are you buying it from it'sthe product and then you're gonna makemost likely the transaction right therenot so much on going into another placeto look foroh you know whatever marketplace it isgonna be all direct-to-consumer websiteagain I understand and we're getting alot of your you're breaking up a goodbit there you know you get a sentence ortwo in and you freeze for just a secondI'm if you would just kind of make surenothing else is running on the machinesee if we can you know squeeze out justenough bandwidth to to get the signalthrough yeah brother some tests on myside everything seems to be fine and itwas fine before we went live right upuntil it froze while we were going liveso but we'll yeah test it out no problemall is good there we will figure it outand then I willkatti keep the show rolling that's whatwe do guys as always this is a this is aparticipation a QA an audience lead livestream we are streaming on LinkedInYouTube and we added periscope into thisone Twitter I'm not sure if that's goingto work too well who knows that may becausing our problems for all I know I amgetting notification from Brian onLinkedIn that I've got a little bit of alag between my audio and video and Iwill try to correct that but hopefullywe've got the bill back here and we cancontinue on down this path you think youmight have it worked out there in thebill yeah I was thinking that maybe Ican try to move it on mobile also incase it works better okay seems to befine right now but it you know it comesand goeswe've got Walter Walter deters in thechat hey Walter thanks for joining uswe're working through just a fewtechnical difficulties because we wantto bring you guys the crispiest HDcontent we could possibly bring you soSophia is commenting on my bottle ofbourbon this right here is one of myfavorites actually had a partner virusNexus give me a bottle of this and Idrank it all as I tend to do and I couldnot find another bottle anywhere walkedinto the liquor store last weekand they had one bottle they wereactually taking it off the shelf topackage it up and send it back becausenobody would buy this stuff and this isone of my favorites this is hi Westdistilleries BER rye limited releasereally really good stuff if you have achance to grab a bottle do so highlyrecommend itall right no bill you there you're stillworking through those issues all rightbut I appreciate everybody joining usthis afternoon as these things go we'relive sometimes there are technicaldifficulties you know it happens it'snot a big deal that's why we have a fewdrinks we're here to have a good timeit's casual no problem you got it workedout in the bill yeah I think we're goodI close that thing yeah it looks goodfantasticso just to recap for those that are justjoining us we were talking about some ofthe latest trends in e-commerce here andwe were talking about marketplaces ingeneral and how marketplaces arebecoming more and more prevalent now formerchants out there there's there'sreally two ways to go right you eitheryou either are looking for opportunitiesto sell in marketplaces or you'relooking for to build a marketplace isthere an instance where you think amerchant should actually be looking tocreate a marketplace specific to theirindustry or do you think they justshould be going with the flow for themost part I think I think todaymarketplaces offer you a hugeopportunity right because you alreadyhave traffic I think for people thatstart it's actually the best place tostart because you already have an entireinfrastructure you often time have alsoa logistic component to help out thebusiness so I think marketplaces isdefinitely a huge opportunity for you tostart as as you're growing your businessI think as you grow into a certainvolume of transaction you might want tobuild your own channel or eventuallyyour own marketplace is bad thing forpeople to build to their marketplace youreally need to be in a certain niche ofproduct a a category of product that youknow extremely well and that youunderstand there is a specific need tobe Surto be commerce that's still thebeginning and I think we're gonna seealso an increase of marketplacesservicing b2b business needs which aregonna be also slightly different incertain dimension when you think aboutthink about just like the hospitalitybusiness or restaurants they think needsaround all the things that they arebuying on a recurring purchase processso we probably gonna start to see alsomore and more specialized marketplacesfor b2b but the answer is startingmarketplaces and then if you think aboutbuilding your own and understand what isgonna be significantly different inyours compared to the traditional onesyeah I agree with that it was you knowfunny bin Marx actually had bid marksfor Magento had a tweet recently wheresomeone I believe it asked him aboutbuilding something like Amazon on theMagento platform and I I just I feellike a lot of merchants out there don'tdon't don't really know how much timeand effort and money it takes toproperly build a marketplace becauselike you said it really the big thing isis if you're going to build amarketplace people that are coming tothat marketplace expect that you alreadyhave some traffic they're not going tocome there and help you build thattraffic like you have to get some sortof critical mass to make it worth themcoming to your marketplace and so to toyour point you really need to have somesort of Industry connections or insideknowledge of of that market to providesome sort of value around thatmarketplace they're they're not gonnayour competitors are not gonna cometogether and help you build it yeah nodefinitely and you know I think manypeople there really I think you justmentioned it but I would like to enhancethis is and estimate what it takes youknow today you hear so many peopletalking about the fact that many of theproduct search starts actually on Amazoninstead of Google what many people don'tknow is that betweenmm the company that was spending themost on Google AdWords and search wasAmazon aim so they've invested and theywere the that audience and how you buildthat momentum so I think you know timemoney and technology there is iscritical yeah if you've got a fewbillion dollars to burn you couldprobably pull a marketplace togetherthat's I think that's the moral of thestory just go public get a bunch ofpeople to give you billions of dollarsand then build a marketplace we've got aquestion here in the chat from Aman'samid a monster thanks for watching Iappreciate your questions again this isfor you guys so if you have questionslet me know and we will get themanswered at a magis question is do youbelieve that marketplaces will take overecommerce in seven to ten years now Iguess the you know the thing is what iswhat is take over right like really it'salready taken over I mean onemarketplace in particular is 50 percentof the overall ecommerce market in theUnited States and then you start talkingabout Alibaba Aliexpress overseas inChina I believe you know it's alreadytaken over but you know the question isis it going to get worse and as youropinion you know just to clarify on thequestion is your opinion that it's goingto just continue growing in markets hereI think we've lost you againright well this is gonna be aninteresting day I knew it was gonna be agood day when it started guys I I knewthis was going to be interesting I knewit was going to be fun we've hadtechnical glitches before you knowsometimes we can work them out sometimeswe can not but I'll keep talking aboutmarketplaces it's fineI do believe that the market share isjust going to continue to get biggerI think ecommerce in general is justgrowing overall and then you know sothat's gonna grow but still thepercentage of market share is going tocontinue to grow on things like AmazonWalmart I don't think it's gonna take 7to 10 years for it to take over I thinkit's already took over or taken over andthat's just going to continue to to getworse and biggerWalter Benson's we've got a badconnection yeah our guest is having sometechnical difficulties the fact that thelive stream is going out from myconnection I'm assuming it's not on myendhope it's not on my end but you know itis the thing we deal with when we golive sometimes that happens righta lot of this live streaming stuff isoutside of our control that's based onservers and networks and connections andthat's that's just the game we play guysso that's why you got to be prepared foranythingall right so how is Walter's question inthe chat here is how is how is it in theUS regarding special sized products onmarketplaces are they not too expensiveto ship well they are expensive to shipbut they're expensive to ship fromanywhere and so somebody like Amazon youknow they've got the logistics to figurethat out you pay a little more to shiptheir you know dimensional basedshipping so you've got the width theheight the length and all of that getsfactored into the shipping calculationand then you ship it so yeah it costsmore but that's just the nature of doingbusiness there anybody has to ship thatso I would think you know products likethat always have an advantage on sitesomewhere going into its store ifthey're going to be particularlyexpensive or cumbersome to ship but thatdoesn't mean people won't do it alrightgo onin order it won't figure it out it lookslike we've gotten the bill back are youback yeah sorry guys so guys I don'tknow what it's happening here technologyis not helping us today but so I thinktoday you probably made your commentsalready on the question let me let mejust make my my point I think this isactually a very interesting questionI don't think about it as to do we thinkthat marketplaces are gonna take over Ithink what is more important is what arethe brands and what are the companiesthat are actually gonna fry and aregonna survive and evolve through thistransformation and in my perspectivefrom what I see the one that are gonnareally be able to go through thistransformation successfully and that aregoing to be very successful actually nowthe one that have a very strong identityand they'll have a very strong brandbecause when you when you do have a verystrong brand and just think aboutprobably one of the obvious name acompany like Apple you know you do go onthe website of Apple and you will go andyou will order some from their websitebecause you're going and you're lookingfor that type of product so when youhave product of that categories of thistype of categories with very strongbrand and very strong relationship tothe consumer I think you should not beso worried about about that I think whenyou don't and you're coming into aproduct category that is a highlycommoditized and you don't have aparticular relationship with yourconsumer base then having you should bevery very concerned about this becauseyour presence on marketplaces do notnecessarily depend on you it depends onthe ranking that we would get or youwill pay for and that when we see theamount of private labels that have beencreated online in the last seven years Ithink for anyone that is in thecommoditized market a product categoryit's it's a big risk great answer wewere also talking with Walter dealers inthe chat here he mentioned you know howis it in the US regarding special sizedproducts on marketplaces are they notexpensive to ship it he's in theNetherlands so what he what he mentionsis what we see here is if we want toship a special sized productit's expensive and that's why peopledon't buy it on marketplaces are youseeing I mean you guys are in logisticsif anybody knows you should know isthere a particular type of product thatjust doesn't do well on marketplacesespecially because logistics around itare complicated yes so first of all Ithink it's important to put things inperspective when you think about parceland distribution networks and anylogistic infrastructure and you thinkabout e-commerceso ecommerce really started with booksand then expanded into categories whichwere relatively small and easy totransport so you know laptop electronicsand so on this type of products are veryeasy to transport through anyintegrators or through any parcelcompany or Postal Service you don't needto do any modification to the product orto the to the infrastructure to be ableto ship a book or to ship a laptop itgoes through any postal service anynetwork a logistic network in the globenow when when we look at what ishappening now we see a huge increase ofcategories of product so and you seecompanies for example a very good a verygood illustration of that is ideaso IKEA did not going to ecommerce formany years they started in 2015 becausethey realized that it was actually veryimportant and and some companies likeWayfarer in the meantime you know tookadvantage of thatbut the reality is today you can buyanything online so the the logisticnetworks are being transformed also tobe able to adjust and adapt to thesegrowing needs and growing needs means aheavy and bulky items like buying awashing machine buying a huge TV buyingyou know if furnitures and so on so soit is coming it's still relativelyexpensive because the the networks arestill building up and it's relativelynew if you think about this ecommerceexists more or less for 30 years now atlarge scale m and when you think aboutbuying furnitureanything heavy and bulky it's probablymore of a phenomenon of the last fiveyears so it's getting there it's stillexpensive if you think about it but Ican tell you there are a lot of programthere are a lot of companies includingours working towards how to enhance thatexperience and that costs for biggeritem and and larger product so it'scoming yeah I think what are the thingsin particular he was asking about islike on Amazon a lot of things are freeprime shipping but if you're shippingsomething that's bulky or heavy then itdoesn't really fit into prime shippingyou've got expensive charges if they tryto return it and you know do those itemswork well on market places where youcan't you can't really use somethinglike prime shipping okay yeah I see solook at the end the the shipping costcan be an enabler or it can be you knowa complete disaster in regard to yourconversion what I would say is I thinktoday we are seeing marketplaces andbrands successfully shipping large itemsand others don'tit's all about the entire value chainthat you have so you know I don't thinkthere is an answer for all the productcategories what we are saying isfurnitures home decoration is a veryfast-growing category and many companiesare doing it successfully and we expectthat to continue so so large items arealso possible to be sold online but youdo need to have the mechanics to makesure you have low amount of returnsbecause they become very expensive andalso you have to think about innovativeways to actually product to package yourproductjust think about Casper what Casper didwith the mattresses aim before Casper itwould cost you generally generallyspeaking in a return for mattress around$200 and Casper when they introducetheir folded mattress that's how theywere able to manage such a success storybecause they change the game in regardsto shipping and in time and we got toreturn so I think you know that's whereyou can also this kind of situationcould be a hugeopportunity if you can figure out how tomake a furniture you know break it downor whatever it is package it betterdefinitely and if you can do it withmattresses you can do it with otherproducts absolutely all right so we'vegot I think we've got all of thequestions answered currently if anybodyhas any other questions about anythingreally trending in a trending topicslatest trends in e-commerce marketplaceis happy to get back to those questionsbut we'll keep moving we've got a fewnew chatters here in the check KaitlinJordan has joined us Katelyn livestreaming on LinkedIn is coming to yousoon my friendI'll see what I could do ping me I'llsee what I could do about getting youaccess man I'll see if I can't pull somestrings for you I don't know if I havethat kind of pool I probably don't havethat kind of pool but I'll see if I canget it man you you create some greatcontent and I think you would do well onLinkedIn Patti McGill also in the housewatching us on LinkedIn guys if you wantto talk about the latest trends if youhave any questions let me know one morereminder at the midway point of the livestream here this live stream is broughtto you by mage mojo Magento hosting madesimple man don't worry about scaling andall of the crap I hate hosting I've toldyou people I hate hosting find a hostingpartner that you trust and that betpartner for us well mates mojo give themeach Moser Karl ma te mo Jo dot-com sohopefully that's good for a liveread-through I still suck at sellingthings we found sponsors that don't knowthat I suck at selling things sohopefully that is good enough it lookslike we we still got in the bill theremake sure he's not froze up looks likewe've may have worked out our technicaldifficulties that is fantasticWalter in the chat has another questionhere he says for DHL we have multipleextensions in the EU for integrationswith different platforms this means thatDHL the Netherlands has a differentextension the DHL Germany why is thatyeah I think voters I think so I'm youyou might be alsowith with different divisions from thegroup and we have so we have differentbusiness units as we call them withinwithin our organization and sometimes ithappens that we have we have clientsthat are dealing maybe in one countrywith one and with the with anothercountry with others we are quite a largecompany what I would say is if you areif you reach out to me I will make surewe facilitate that it's a it's a more ofa seamless interaction with with ourorganization so please just just reachout to me so we are we connect with theright people to make that a simpler waynow I'll show the Twitter contactinformation here just Nabeel Mullaly aton twitteris there another a better way for peopleto get in touch with you yeah onLinkedIn on Twitter it's perfect I'llreach out to them on my email is also myfirst name dot my last name at DHLfantastic all right so outside ofmarketplaces what's the next trend likewhat is the next big thing in e-commercewell I think the next big thing is isb2b e-commerce so we we are so focusedas you know as businesses and as peopleon what is happening in the b2c thatpeople are not saying that on the sideyou have a business that is double ofthe size of b2c that has a way biggerpotential and that is actually alreadymuch bigger than than B to C which isb2b e-commerce think about any type ofbusiness today as we are humans we aretranslating our personal experience andwonder why we cannot have the same typeof experience in businesses so whateveryou do if you are if you operate arestaurant if you if you operate anoffice if you if you working in a hotelwhatever it is you have still todaywhatever you purchase traditionalmethods and now we are seeing manycompanies actually switching to wantingthe same experience that they get in Bto see a and that's actually a majorshift and that's going to createamount of opportunities yeah definitelyagree with that it's interesting I washaving this conversation internallyyesterday here here at the office and wehave got a lot of requests fore-commerce builds lately that requiresome sort of custom configurator and youknow we were just kind of casuallytalking about it not really thinkingabout the merchants in particular justlike okay we're getting a lot of theseit's kind of unusual like you know mostof the time it would be occasionally butit seems like every every build we'vequoted the last month has some sort ofcustom configurator component and I goback and look at it and it's becauseevery one of them is kind of a b2b sitemasquerading as a b2c site like theydon't they're kind of putting themselvesout there is b2c but they're reallytargeting a business customer in anon-traditional b2b sense which to me isa big sign that b2b e-commerce is goingmainstreamyeah yeah big-time you know I think ifyou just think about um delivery windowsa ability to replenish inventory some ofthe functionalities that are reallyspecifically for businesses you stillsee that many of the sites do not offerthat and that's the reason why it hasn'ttaken you know a oneness and growth aswe know people think really looks likewe froze up again there they arethey are looking at yes hi can you meanyeah you froze for just a second okayyes I was saying I was with a companythat is in the coffee business and youcan imagine today when you sell coffeeyou sell it through distributors thatare selling it then to restaurantoffices ctrl-a conferences whatever itis right like huge gathering of peoplenow they assist look and power amarketplace or just an easy way forpeople to push orders to us directlywe can if we can power the logisticbehind we could be selling direct tothem I mean think about this we'retalking about like margins of like 30%40% in some cases more that are goingthrough intermediaries that you couldcut a so it's it's massive and thinkabout also the experience when when yougo direct and you can deliver you knownext day same day in a couple of hoursto to to your final customers you createa relationship you create that brand aloyalty I mean it has it has a hugeamount of upside so so I think that's avery that's a very important aspect ofwhat is happening and foreign troops youknow I for anyone that is selling thingsonline I highly recommend to look intothis definitely and I just updated thegraphics at the bottom with your name soeverybody will know who we're talkingabout here you can reach out to knowBill we're still we're still working onthis side by side set up so thank youfor the suggestion there Kalyan so Icould get the bills information on thescreen alright so just checking the chathere Walters mentioned here so from myend it's the same of course there's adifference but the owner of a companycan check Google in the evening and askhis personnel to buy product the nextday he's thinking B to C as B to B isthe same thing basically yeah exceptthat you're not gonna get you're notgonna get wholesale pricing right andthe whole deal the whole deal about thisis to to get bulk pricing not to getconsumer pricing that that's the maindifference yeah you know he's trying tosay a b2b webshop should work like a b2cbut yeah there are distinct differenceswith b2b let's let's make sure we kindof identify some of those and that'sthat's the first thing right in a b2bscenario almost always not not alwaysbut almost always you get a differentprice based on your volume and so if youorder a lot of stuff from a particularmerchant then you're gonna get a betterprice than somebody that just orders alittle bit so you've got that sometimesyou need corporate accounts you need tobe able to have somebody at your officelog in and place that order but you havesome tracking over who can order what orat least know when somebody has orderedit maybe they order it you have toapprove ityou've also oftentimes got quotes thatare needed where somebody could come inand say hey I've got this one-off thingI'm doing or I need this amount ofsomething and I need to I need to quoteit so you know there's yes there aresimilarities in functionality butthey're you know with b2b you've reallygot to go a lot further to provide agood b2b user experience yeah I reallythink it's all about that that level ofdetail that makes the big difference youknow if you think about it from ageneral perspective we could say well itis the same but when you go into thedetail of how actually works it is notthe same then you just mention somethingTJ that is extremely importantnotification for reordering you know ifyou if you are business and then youstart to get notifications of you knowlike usually you sell 10 products perweek and then automatically that week wedidn't reorder and you get anotification that says a you didn'treorder this product normally that's thehistorical data that we have on salesyou should probably look into yourinventory and see if you actually needto reorder this product a deliverywindows if you operate a restaurant orstore for example and you're in the citycenter you cannot get deliveries by vanat any time of the day whenever you wantand you don't want that you don't wantto get deliveries when you have you knowthe store order or the coffee shop fullof people you want to get deliveries atspecific times so just delivery timewindows and choice of delivery timewindows aim could be a game-changer forcertain certain type of business andthink about your stores is the bestexample how many of us have gone tostores and you go into the store and yousee all these boxes and you know on theside or the entrance and you're likewhat is this right a and of coursethat's that's not a goodit's not a good experience enough forthe employees not for the consumers thatare coming into these stores having youtalked about also payment a approvalprocess in you know there are there area few few elements that that I think areimportant to con and I don't want evenwant to talk about like highlyspecialized industry but think about ifyou're a doctor and you are ordering acertain category of product that thatrequires your reordering it constantlybut does require a certain type ofhandling you know that that becomescompletely a game-changing opportunityas well yeah comments here in the chatI'm just talking about how in theNetherlands most b2b web shops arereally bad I think we're on the samepage or what about what you're saying isb2b has to catch up like the the userexperience the usability the ease of usehas to be on par it's not the samebecause functionality is different butthey they do have to level up their gameto be on par with these b2c userexperiences all right I think we're allon the same page here and that's why webelieve b2b e-commerce is an emergingtrend because a lot of these shops thattraditionally have done nothing or hadreally really bad user experiences arestarting to invest and you're startingto say I know we're starting to see moreand more b2b e-commerce builds where youknow they're they're starting toactually think out what their customersneed actually building functionalitythat will make it easier for people toorder to use them versus just trying tosave as much budget as possible andshoehorn as much functionality into ab2c use case so they can use somee-commerce platform off the shelf and sothat's that's why you know we've beenI've been hearing it for five years theb2b e-commerce is the ways wave of thefuture but for the troops on the groundI'm really starting to see that now withsmall to mid-size b2b businesses yeahabsolutely all right we've got KailynJordan in the chat again here Caitlinsays this might have already beendiscussed doesn't matterthat's what we're here for we're herefor you man thanks for tuning in thanksfor your question but one question Ihave is which b2b sites are doing itright in terms of good UX who gonna putme on the spot I'm not sure I have ananswer for you right there Kalyn I'm notgonna just like throw out some of oursites because in Jolla gonna pick themto death lord knows what we we didn't doright on that but no bill you have anyyou have any ideas as to b2b sitesbecause I've got me personally I don'tspend a lot of time on b2b sites so I'mnot sure I have a great example of someb2b site I'm sure there's some Magentoor big commerce or Shopify b2b casestudies you could find out there but Idon't have any on the tip of my tongueyeah actually I alright so very goodquestion I'll have to think about thisKalyn and give you a an answer back I Idon't want to front names here live andand then because let me think about thisand I'll write back to you on this oneall right we'll get back Kalyn the manwho asked questions that cannot beanswered live that is what I like rightthere that's a good question Kalyn and Iwish I had an answer I'll dig I'll digwe're gonna find an answer but the thingis this right is relative it's relativeto your market it's relative to thecustomers you're serving and so Ibelieve most sites I deal with there'salways something else that they reallyneed to add to take it to a hundredpercent but you know they're they'regetting there they're slowly improvingand they're getting better so b2be-commerce like how far do you thinkthis goes like how far into theemergence of b2b commerce do you thinkwe are well I think we are really justat the beginning I think we are veryearly stage of that I mean just thinkabout this in the u.s. 50% in the u.s.50 percent of businesses don't have awebsite 50 percent aim and think aboutthat then think about what the numberwould be in emerging markets andemerging countries so I think we arestill very early on regarding the trendand of course when we talk aboutbusinesses they don't have a websitemany of them are not necessarily aselling physical products a of coursebut many of them are consuming physicalproducts so I think I think we're gonnasee a huge increase on that as we havegeneration change you know I mean bynext year we're gonna have 50% of theworkforce is gonna be millennial apeople born and raised in the digitalage so that's gonna be also asignificant shift in regards to howpeople in businesses are looking at thisand challenging the statute goers to howis it possible that we have such a youknow such an opportunity that we are nottapping into whatever the industry is soI think we're gonna see we're gonna seea huge path of growth as we've seen aimyou know if you look at b2c e-commercethe true growth started to appear as of2011 and in 2011 we were already fouryears after the smartphones but we wereat the time where a the mobileexperience the number of apps a thespeed of internet the number of shoppinga possibility a online a blue-blue awayall the other on the other aspects andmobile having the mobile in our hands24/7 starting to trigger a huge amountof b2c transaction online and I think weare probably at that same tipping pointin b2b in the next five years I thinkit's gonna be huge definitely agree asfar as the you know the workforcegetting younger I'm actually seeing alot a lot of those sites we've beenquoting lately are actually you knowkind of the same they're not necessarilyMillennials getting in a position to tocontrol those projects but it is anolder generation passing it down topeople in their 40s that have spent mostof their adult life with the internetand then you know they move up into aposition of influence in the company andthen someone younger now has theirposition and so they understand eventhough you know they may not be asconnected as Millennials arethey understand the power of theinternet they understand how importantit is to the future of their businesswhich leads me to Walters question inthe comments here Walters question isb2b who are not investing in e-commerceor IT do you think they're pretty muchgoing to be end-of-life in five years Imean I you know I want to preface thator you know kind of backtrack that alittle bit I you know I we can't a lotof different businesses operate on a lotof different planes and so your businessmay not be right for the internet forwhatever reason or it may not be thedeath knell to not have a website youmay be operating locally you may beoperating in some sort of marketplacelike you you may have other outlets ofIT that are not necessarily yourcontroller your investment so you knowthere's a hate just speaking ingeneralities but for the most part I dobelieve that businesses that are notinvesting in e-commerce right now andfor the next five years our businessesthat will be in decline as theircompetitors invest and take up thatmarket share what are your thoughts yeahI would agree I don't know I don't knowthat I would say you know same I don'tknow that I would say end of life youknow one thing that is look just thinkabout the the number right if you if youthink about 2018 we had 2 billion peoplebuying something online 2 billion peopleso if you look at the total populationit's still it's still you know on thelow side growing every year but stillstill it's it's a 2 billion and ofcourse you can count you can say welllooks like we've locked up again thereso much of being like online eh I thinkthe key topic is today you have to bewhere people are looking for productsand where people are looking forproducts is online you know whateverwhatever you use to convert yourbusiness is gonna be changing in thecoming years I mean just think aboutthis the gaming industry eSports isalready far bigger than any other majorleague of sports there is nothing soldthrough a games of eSports yet and justfeel but like if that industry would saywell you know what we really want to gointo the conversion of selling productsonline imagine the number of applicationand they will I mean of course at somepoint they will but imagine the amountof conversion and the amount of peoplealready on these platforms playing andspending a significant amount of time towhich you could push product directly orindirectly think about live videos thatalso this is still still to come todayyou cannot just watch a video and saywell I like this I just buy it right youhave the this technology that exists butit's still not like commercially atlarge scale so you know I think todaywhat you want is just think about it aswhere are the consumers where do theyinteract where do they play where dothey spend time and any brands anybodyselling stuff online needs to be thereit's not so much about offline andonlineit's about being where the customer isand the customer is today as much in thephysical world as in the digital worldand that's why we are seeing so manycompanies that are born online and thatare now going to the physical world alsobecause they realize online is notenough you also need to have physicalinfrastructure because there is still ahuge portion of the population let'sstill like to touch still like to see soI don't think it's in the five yearstime you know if you ask me what I thinkabout in 50 years I poly thing in the 50years we will have power earlier an80/20and many people doubt about that but Iwould say you know by 2050 1950s I thinkin 30 years we will have a way biggerportion of the transaction that arebeing done in in in the digital worldthan in the physical world by far weprobably turn the today you know it'stoday if you look in the u.s. it's 17%more or less depending on which studyyou look at in in in retail 17% of thetransactions are being done online youknow it's it wouldn't be a such a crazything that in in 30 years we haveactually a 80 80 % online and and theother way around or maybe even beforeyeah be as fast as things areprogressing that that's an opinion thatis hard to disagree with I mean you youjust you mentioned earlier furniturelike the fact that I can take a pictureand or just take my phone and scan aroom and then place furniture in it andyou know see the size kind of I can'tsit on it but I can do everything butsit on it and then just hey I liked allof this and that it somebody delivers itbrings it in the house sets it up youknow in a matter of days maybe eventomorrow in the future you know evenwith something as cumbersome asfurniture is it's just insane like it iswhat what augmented reality reality andan eventually virtual reality is goingto enable a lot more of those purchasesthat would normally be done in personnormally something somebody would wantto go feel and touch it's at least goingto provide the possibility for somebodyto say ok because I mean if I don't likeitthen those same people that delivered itwill just come pick it up and take itaway and it won't cost me anything sowhy not order it and then if I don'tlike it I'll just order something elsenext week yeah of course because we arewe're in the time where you know peoplethey expect free shipping but they alsoexpect free returns and now we aresaying now we be so a Alibaba announcedtwo weeks ago that they were gonna pilotfor eight countries the okapifree international returns so you knowthink about this I mean you start to flystuff across the globe and you as aconsumer you'll have to pay anything youhave to pay for the for the receiving itand you'll have to pay for returning itso you know that that type ofexpectations being set so high is gonnabe also an element that will enhance andthat's why we see so many returns ismany companies that's part of theirbusiness model they have margins thatcan allow that and they are fine to justto ship you products and and you knowand you you know then you decide youknow you say if you like it or notalright you return it absolutely keepthose questions coming water in the chathere's thanks for sharing your vision ina bill we've got we're pushing upagainst the top of the hour here but wehave had some technical difficulties sowe're gonna go just a little bit longertry to get these last few thoughts in sowhat okay so we've got marketplaceswe've got b2b e-commerce any otherparticular trends you wanted to discusstoday well I think I think the last oneI think is which is the most importantis us right a us as consumers I thinkthat the major trend there is the amountof rising expectations we we are sayingI mean we are in a space where certainnumber of leading companies have set thebar in in consumer experience thatthe expectation that is rising by theday if you think about a quick quicklook towards in 2012 deliveryexpectations were between four and fivedays in the US now they are next day sowe can foresee that in two yearswe're gonna have like a same dayexpectation and I'm not talking aboutgroceries because groceries we'realready on the same day service levelexpectations for a while but a side ofgrocery and a side of food andperishable I'm talking about like anykind of product so I think that risingexpectation is making a is making andcreating a major challenge and and thatchallenge has multiple dimension youhave sustainability aspects you havecustomers that want more and morepersonalization into the product and thetopic of speed and everything needs tobe free is creating a lot of challengesfor companies tooI mean you can do it but to do it andmaking money that's that's where thechallenge is right and that's why we aresaying some of the of the of the giantcompany going and investing and you knowreally investing because you know Idon't know that I would not say thatthey are losing money because in thelong run it's a it's a must to do butbut that investment today is creating aalso a major challenge for fast-growingbrands for new brands for small andmedium-sized enterprise so that thatconsumer expectation and and delightingthe consumer of today in the next fiveyears is gonna remain something to keepin mind and and a we are changing veryfast and and the way the way works inthe human brain is if I'm buying foodand I can get it in the next two hourswell why cannot get my you know myFootwear my t-shirt my shoes you knowwhatever it is and soon is gonna be wellwhy cannot get my sofa in a couple ofhours so I think there it's gonna besomething important to keep in mindspeed is not everything so keep in mindespecially if you're an entrepreneur orif you're seller speed is not everythingthere are many there are many innovationthat are taking place to improve theconvenience aspect and convenience isvery important for many people it's it'sas important as speed so and what what Imean by convenience is the ability toget my package delivered you know in thefuture in my house or in my car or inthe you know in a physical location thatis down my street or the ability to holdthe packages if I'm on vacation or ifI'm delayed or I'll schedule it for acertain time because I'm receivingsomething important so that that givingcontrol to the consumers it's alsosomething that we keep as a key Tran inregards to people want to have theability to decide a what they what theydo with the product if if I need toreturn something I don't want to have togo to the post office in you knowthere's a Walgreens in the corner of mystreet I would rather drop it at theWalgreens then have to go to a postoffice a and and that convenience istaking a multiple dimension and there'sa lot of very interesting things thatare happening there which are actuallyvery good because it will also help inefficiencies and in a sustainabilityaspect which is very importantabsolutely that's a that that probablyis the most important when we we shouldhave led with that one nightany questions we're gonna hold for justa few more minutes here see if there'sanything in particular you guys want totalk about especially in regards toincreasing customer expectations anddemands I am interested in that you knowone of the problems we talked about b2be-commerce and one of the problems wehave that b2b e-commerce is that peopleexpect that b2c treatment and so youknow as our b2c demands increase thefact that I can you know now ordersomething on Amazon Prime and it's heretomorrow you know those things tend tostart spilling over into a b2benvironment but b2b is not nearlyas mature so how do you think all ofthat plays out like does b2b have tomature that quickly or can we figure outways to maybe kind of meter thosecustomer demands no I think b2b has tocatch up quicklyIIIi definitely do think that b2b has tocatch up quickly you know there is acouple of years aim left for marketdominance in e-commerce I mean there'scertain markets like China or the u.s.where it's really really highlydominated by one player in the rest ofthe world is still bit more fragmentedbut you know there's a couple of yearsnow large marketplaces are obviouslylooking at that if Facebook is lookingat that I mean when they announce what'sup for business that was obviously alsolooking at all the transaction thatcould be done for businesses so I thinkthere is a window of opportunity that'sprobably between five and eight years toposition you know any type of businessin that space and I think in India infive to eight years we will see reallythe dominant players being dominant andwhat is the mass market and then we willhave niche players and then we will havecompanies that have such a strong valueproposition and such a strong brand andproduct that they will be able to be theoutliers of what is the traditional youknow commoditized type of business butyeah they have to catch up and they haveto catch up fast all right with chathere and then we were going to call it aday Philip is joined usPhilip thanks for your questions thanksfor watchingPhilips question is that and he'stalking about more your originalstatement there that's interesting thegreta effect the environment aspect whattrend what what's the trends there doyou see any trends in regarding theenvironment aspect yeah I love I lovethe question you know especially for meI mean you guys are probably noticed myaccent I'm from France aim you know Igrew up in in Europe and you know I waslistening to an interview of Greta and aat the Trevor Noah show and andhe asked her what is the differencebetween Europe and the US in regards tosustainability and she she answered whenthe major difference is that in Europeit is not a question of if it'ssomething that we should address or nothim when in the u.s. it's still a debateas to is it a real thing or not you knowso I think certain countries or certainmarkets in the globe have seen thistopic of sustainability already a coupleof years ago I mean it's it's a greatmovement be behind behind her which isreally good which we need more of butit's not nothing new I mean you know acompany like like like DHL we started toproduce electric vehicles a couple ofyears ago to be able to do deliveries incities and we couldn't find a companythat would do electric vehicles so westarted to you know to build them withwith a partnership and then anacquisition of a company so when youlook at that when you look at theannouncement of Amazon two weeks ago orthree weeks ago about buying hundredthousand vivianne vehicles a which areelectric delivery vans that's that'sobviously also a major sign of the youknow of the movement we are saying inour multiple cities not only in Europebut also cities like Washington that aresaying that they want to be co2 co2 3mthat they are not gonna allow a gas aAIC vehicles within within the citylimits by 2030 or by 2025 or by 2040 sowe are saying companies that areinnovating in the in the packaging spaceyou know using more of solutions whichare like more like poly bags instead ofcardboard or using returnable packagingso yeah you know I think my view is it'sdefinitely not new what we are saying isit's a great thing is yes it's startingto become more of a normal topic ratherthan the topic that you talk at the endof the podcast of the meeting and I'veactually you don't even touch on becauseyou'll have enough time so even if westill had it at the end we probablywould not house fornobody's even maybe a couple of yearsago that it's a very interesting topicand it's definitely something let's workout these technical glitches let'sschedule another livestream to divedeeper into just that because I thinkthat's an important topic in aninteresting onebut we are going to call it a day I'vegot to go get ready for a podcast I'mfilming this afternoon with somebodyI'm sure you've got to get back to workI mean we do these in the middle of theday even though I'm enjoying a cocktailI still got to do a lot of work thisafternoonso I thank everybody for joining if youwould again for those that may be joinedlater in the stream or just picking upnow let everybody know how they can getin touch with you yeah absolutely yeahplease just reach out to me I mean my myemail is my first name that my last nameat DHL or you can reach out to me onLinkedIn on Twitter please if there isanything of interest or you'd like tobounce some ideas a happy to do so andand TJ yeah certainly very happy to comeback on the sustainability topic ifthere's interest that's great and wehave to raise awareness there and thankyou very much for the for the questionit was great yes a good time and hisname is as if I can get it down here Ican't point in the right direction hisname is down there if you need thespelling on it so it is on the banner atthe bottom of the screen I thankeverybody for showing up today we'regonna try to get back to doing thesefairly regularly but then like next weekI'm out of town for the entire week andthen I've got in a couple of weeks I'vegot to go to SEMA in Vegas so we'llwe'll see how regular we can get aboutthese for the next few weeks but thentravel season is over and I'm gonnahammer you guys hard with live streamsduring the holiday break until then Ilook forward to seeing everybody in thenext video have a nice afternoon andenjoy the rest of your week

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AllrightWhat's going on guyswelcome to the video and welcome to the channelI'm super excited to be herethis is my first YouTube video ever so I really
hope you guys like it!anyway my name is Jesus gomez im recording
this out of my basement here in Montreal CanadaI am an Amazon FBA sellerand I've been literally thinking about doing
YouTube for almost a year nowbut anyway now that you're here and I suppose
that because you landed in my first videoeveryou're interested about e-commerce and Amazon
FBA and this whole money online revolutionthat's out there rightanyway so let me tell you a little bit about
my journey so I started selling on Amazonlast year on April 2018I launched my first product first of all I
flirted with the idea of starting an onlinebusiness for almost like 6 months took courses
I was flirting about itand finally I got my mind together I got my
act together and I took action and I wentand launched a product right so this was an
April 2018And yeah back then everybody was saying that
it was too late it was saturated this andthat but so yeah you know I took action I
launched my product and it was a completedisaster to be honest complete dissasterbut I keep going right I kept going I launched
a second product in the middle of the summerI tweaked my strategies here and there I continued
to learn andYeah, the results were better the results
were improved but I wasn't you know I wasseeing all these massive streams of success
all over the internet people doing money , peoplechanging their lives ; so I said to myself,
there's got to be a way to actually do thisrightI Started Thinking outside the box and for
my third product I went a totally differentway of launching and brand building an Amazon
products so I started using social media evenbefore the product was live before the listing
was livet I started creating a buzz I startedbuilding a brand I started an instagram pageI started communicating with people communicating
with potential customers asking for theiropinions asking for their needs
That information allowed me to offer somethingcool something unique that it was going to
be a problem solver for them right ; So thatwas exactly what I didSo I launched this third product on October
and I sold out before the month's end ; andI've been selling out ever since , currently
right now I am sold out with that productlineSo in December 2018 I hit $15,000 per month
March and in January it went down to 10K amonth that I've been consistently making these
numbers over the past few months rightso if you're wondering or if you're thinking
about whether it's too late 2019 to startor is it too crowded or is it too saturated
or you don't have the timelisten guys I don't consider myself an expert
I don't consider myself a guru I am an averageguy , an average person , I have a nine-to-five
job I have a daughter I have family I havebills to pay you know , No fancy Lamborghini
for me no walking aroundI really you know need to get stuff done so
if I can do it, I'm pretty sure that you cando it as well
so it is possible to juggle and side hustlethis business and scale it to a point where
is sustainableEven with your normal lifeI get asked that question a lot , people come
to me and ask me How do you do it if , Withyour job and this and that ,Guys you want to do it you can do it and you
really want to stick with it you can definitelydo it as well
It's all about time management organisingand getting your priorities straight but yes
you can do itI'm doing it and I I started last year so
it's definitely not late for you you can totallydo it
so my plan for this channel apart of providingvalue for you guys and sharing my Amazon FBA
Journey now that I've been involved with thiseCommerce world I really want to explore and
diversify other streams of incomeso I am going to start affiliate marketing
and I'm going to start on some social mediamarketing which for me was the game changer
for my Amazon business rightbecause that leverage that I gave my product
with social media was like non precedentialfor me in terms of success for a product
so I believe that right now 2019 there's somany tools and that you're so many strategies
out there that you can use to leverage yourbusiness is that that is where the difference
between people who fail and the people whosucceed in this in this business right so
you can expect for me in on this channel tonsof value in terms of experience in terms of
case studiesI want to tell you guys with me in terms of
my journey what am I doing what am I up toand what works and what doesn't write and
of course I will be sharing a lot of informationabout Amazon FBA all right so
if you like the video so far if you find anythingthat I'm saying that make sense to you or
resonates to you please subscribe it wouldn'thurt to subscribe you know one subscriber
to subscriber that's fine I just want to knowthat my content is just getting out there
and reaching that one person that I can helpso as of now are you link my Instagram somewhere
here if guys if you have any questions ifyou have any comment if you want to know anything
just hit me up andI'll be more than happy to answer any questions
about e-commerce for side hustling or motivationor whatever is
guys I am telling you the opportunity is massiveI've reached a point in my Amazon business
where I am totally convinced that I can scalethat so that I can leave my daytime job at
some point as I said if I can do it you cando it the only differenceNot the difference the only thing you need
to do is take actionIf you have a laptop if you have a smartphone
if you have an internet connection you canstart doing Amazon FBA right now and there's
different streams about amazon businessI will be talking about it on my next video
ill be breaking down to the Amazon FBA businessmodel and some other business models that
are out there with Amazon and what are thecurrent opportunities no BS you know
No sugar-coating I want to bring you the factsand what's working and what's work for me
and I want to know where are you in your amazonjourney
are you selling? are you not selling? areyou planning to ? You know leave a comment
let's connect !!And Ill see you guys in the next video !! hope
you liked it

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you guys will find that you havepassions and having a passion is a giftI think we all have passions and youdon't get to choose them they pick youbut you have to be alert to them youhave to be looking for them and when youfind your passion it's a fantastic giftfor you because it gives you directionit gives you purpose you could have ajob or you can have a career or you canhave a calling and the best thing is tohave a calling and if you find yourpassion you'll have that and all yourwork won't feel like work to you manymany kids and many grown-ups do figureout over time what their passions areand sometimes we let our I don't thinkit's that hard I think what happensthough sometimes is that we let ourintellectual selves overrule thosepassions and so that's what needs to beguarded against my job one of my jobs asthe leader of Amazon is to encouragepeople to be boldand people love to focus on things thataren't yet working and that's good it'shuman nature that kind of divinediscontent can be very helpful but youreally you know it's incredibly hard toget people to take bold bets and youneed to encourage that and if you'regonna take bold bets they're gonna beexperiments and if their experiments youdon't know ahead of time go they'regoing to work experiments are by theirvery nature prone to failure but bigsuccess is a few big successescompensate for dozens and dozens ofthings that didn't work so you know boldbets AWS Kindle Amazon Prime our 3rdparty seller business all of thosethings are examples of bull bets thatthat did work and they pay for a lot ofexperiments I've made billions ofdollars of failures at amazon.comliterally billions of dollars offailures andyou know you might remember pets calm orCosmo or you know give myself a rootcanal with no anesthesia very easilynone of those things are fun but butthey also they don't matter what reallymatters is companies that don't continueto experiment companies that don'tembrace failure they eventually get inthe desperate position where they onlything they can do is we could kind ofHail Mary bet at the very end of theircorporate existencewhereas companies that are you knowmaking bets all along even you know bigbets but not bet the company bets Idon't I don't believe in bet the companybets that's when you're desperate that'sthat's the last thing you can do it'snot you can be out of work and you haveterrible work-life balance you know eventhough you've got all the time in theworld right you could just feel like ohmy god you know I'm miserable and youwould be draining energy and so you haveto find that harmony it's a much betterword and I think for most people it'sabout meaning people want to know thatthey're doing something interesting anduseful and for us you know because ofthe challenges that we have chosen forourselves we get to work in the futureand it's super fun to work in the futurefor the right kind of person do you needto be if you nimble and robust so youneed to be able to take a punch and youalso need to be quick and and and andinnovative and and doing new things at ahigh speed that's that's the bestdefense against the future and you haveto always be leaning into the future ifyou're if you're leaning away from thefuture the future is gonna win everytime never ever ever lean away from thefuture we all have adversity in ourlives yeah I I would I would I doubt ifyou really you know if you know somebodyany friend or anybody that you talk tothere's no lack of adversity and the andby the way that's good because it's whatteaches us how to get back up you falldown you get back up it always happensand you know you get certain gifts inlife and you want to take advantage ofthose but you I guess my advice onadversity and success would be to beproud not of your gifts but of your hardwork and your choices so you know youmay be the kinds of gifts you get lightyou know you might be really good atmath it might be really easy for youthat's a kind of gift but practicingthat math and taking it to the next stepthat could be very challenging and hardand take a lot of sweat that's a choiceyou can't really be proud of your giftsbecause they were given to you you canbe grateful for them and thankful forthem and but your choices you choose towork hard you choose to do hard thingsthose are choices that you can be proudof being an inventor requires becausethe world is so complicated you have tobe a domain expert I mean in a way evenif even if you're not at the beginningyou have to learn learn learn learnlearn enough so to become a domainexpert but the danger is once you'vebecome a domain expert you can betrapped by that knowledge and soinventors have this paradoxical abilityto have that you know 10,000 hours ofpractice and be a real domain expert andhave that beginner's mind have that thatlook at it freshly even though they knowso much about the domain and that's thekey to inventing you have to have bothand I think that is intentional I thinkall of us have that inside of us and wecan all do it but you have to beintentional about it you have to sayyeah I am going to become an expert andI'm gonna keep my beginner's mind youcan't skip steps you have to put onefoot in front of the other things taketimeyou there are no shortcuts and but butyou want to do those steps with you knowpassion and ferocity it's easy to haveideas it's very hard to turn an ideainto a successful productthere are a lot of steps in between ittakes persistence relentlessness so Ialways tell people who are you know whothink they want to be entrepreneurs it'syou need a combination of stubbornrelentlessness and flexibility and youhave to know when to bewitch andbasically you need to be stubborn onyour vision because otherwise it'll betoo easy to give up but you need to bevery flexible on the details because asyou go along pursuing your vision you'llfind that some of your preconceptionswere wrong you're gonna need to be ableto change those things so I think takingan idea successfully all the way to themarket and turning it into a realproduct that people care about and thatreally improves people's lives is a lotof hard workdon't try to chase what is kind of thehot passion of the day I think weactually saw this I think you see it allover the place in many different contextbut I think we saw it in the internetworld quite a bit where you know it'ssort of peak of the sort of Internet youknow mania and say 1999 you found peoplewho were you know very passionatesomething they kind of left that job anddecided I'm gonna you know could dosomething in the internet because it'syou know it was almost like the you knowthe 18-49 Gold Rush in a way I mean youfind that people if you go back andstudy the history of the 18-49 Gold Rushyou find that you know at that timeeverybody who was in was within theshouting distance of California was youknow they might have been a doctor butthey quit being a doctor and theystarted panning for gold and that thatalmost never works and even if it doeswork you know according to some metricfinancial success or whatever it mightbe I suspect it leaves you ultimatelyunsatisfied so you really need tobe very clear with yourself and I thinkone of the best ways to do that is thisnotion of projecting yourself forward toage 80 looking back on your life andtrying to make sure you've minimized thenumber of regrets you have that worksfor that works for career decisions itworks for family decisions you know doyou want I have a 14 month old son andit's very easy for me to if I thinkabout myself when I'm 80 I know I wantto watch that little guy grow up and soif it's I don't want to be 80 and thinkshoot you know I missed that whole thingand I don't have the kind ofrelationship with my son that I wished Ihad and so on and so onso if you think about that so I guessanother thing that I would recommend topeople is that they always take a longterm point of view and I think this issomething about which there's a lot ofcontroversy you know there's a you knowthere's a you know something a lot ofpeople and I'm just not one of thembelieve that you should live for the nowI think what you do is you think aboutthe the great expanse of time ahead ofyou and try to make sure that you'replanning for that in a way that's gonnaleave you ultimately satisfied so thisis just my this is the way it works forme and I mean this is everybody needs tofind that for themself so there are alot of paths to satisfaction and youneed to find one that works works foryou[Music][Music]

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