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Don't wait 0:00:30.080 --> 0:00:33.519 any longer, speed up your hiring right now with Indeed, 0:00:33.960 --> 0:00:36.200 and listeners of this show will get a seventy five 0:00:36.280 --> 0:00:39.440 dollars sponsored job credit to get your jobs more visibility 0:00:39.600 --> 0:00:45.320 at indeed dot com slash pod Katz thirteen. Just go 0:00:45.360 --> 0:00:50.120 to Indeed dot com slash pod katz thirteen right now 0:00:50.479 --> 0:00:53.040 and support our show by saying you heard about Indeed 0:00:53.080 --> 0:00:57.400 on this podcast. Terms and conditions apply. Hiring Indeed is 0:00:57.440 --> 0:00:58.040 all you need. 0:01:19.880 --> 0:01:23.440 All right, guys, welcome back to Earn your Legion podcast 0:01:23.560 --> 0:01:28.960 Episode four. Uh time flies man, So yeah, we want 0:01:28.959 --> 0:01:31.440 to first first of all, thank you guys for rocking 0:01:31.440 --> 0:01:33.520 with us and you know we appreciate your feedback. Thank 0:01:33.520 --> 0:01:36.800 you for your support means a lot to us. So 0:01:36.840 --> 0:01:39.959 we're gonna jump right into it. We have a few 0:01:40.000 --> 0:01:42.600 things that we're gonna talk about this episode. The first 0:01:42.640 --> 0:01:44.920 thing that we're gonna talk about is streaming, but on 0:01:44.959 --> 0:01:47.400 a different on a different level. You know, we've covered 0:01:47.400 --> 0:01:50.120 streaming before, but on the musical side, So now we 0:01:50.200 --> 0:01:51.920 want to we want to cover it on the content 0:01:52.040 --> 0:01:56.040 side and talk about two major players in the streaming 0:01:56.120 --> 0:02:00.160 game as far as shows and movies are concerned, and 0:02:00.200 --> 0:02:02.280 that is Netflix and Amazon. 0:02:02.440 --> 0:02:02.680 Yeah. 0:02:02.920 --> 0:02:05.400 I mean, we reference them so much that it's only 0:02:05.920 --> 0:02:07.880 right that we take a look at the business side. 0:02:08.080 --> 0:02:09.680 Yeah, for sure. So, yeah, we talk about We talk 0:02:09.720 --> 0:02:14.280 about Netflix a lot because obviously it's revolutionized the way 0:02:14.320 --> 0:02:16.600 that we consume television. 0:02:16.960 --> 0:02:21.919 You know, it's well more so original programming, because TV 0:02:22.880 --> 0:02:24.839 that would be we're going to get into that too, 0:02:24.919 --> 0:02:27.040 but Hulu would be more of a television side, but 0:02:27.240 --> 0:02:30.440 movies and original content would be like a Netflix, right right. 0:02:30.320 --> 0:02:32.280 So we wanted to talk about it from a different 0:02:32.320 --> 0:02:36.600 standpoint though, because I want to kind of compare Netflix 0:02:37.760 --> 0:02:41.000 versus Amazon on the business side. I actually wrote about 0:02:41.040 --> 0:02:43.200 this on my Instagram a while back, but I wanted 0:02:43.200 --> 0:02:45.880 to go into depth about it because I don't think 0:02:45.919 --> 0:02:50.560 people fully understand the fight that's going on right now. 0:02:50.600 --> 0:02:52.320 To me, it's interesting we try to take a different 0:02:52.320 --> 0:02:54.760 approach on business and look at things from a different standpoint, 0:02:54.800 --> 0:02:57.400 not just report what's going on, but look at it 0:02:57.440 --> 0:03:00.440 from case studies, or look at it from the back stories, 0:03:00.520 --> 0:03:03.079 or look at it from in house fights and stuff 0:03:03.120 --> 0:03:05.320 like that. So there's a big fight going on right 0:03:05.320 --> 0:03:07.840 now between Amazon and Netflix. And just to kind of 0:03:07.840 --> 0:03:11.720 give you a quick summary, Netflix, you know, was soaring. 0:03:12.160 --> 0:03:15.639 Their stock was up one hundred and six percent midway 0:03:15.639 --> 0:03:18.240 through last year in June, and then after that it 0:03:18.320 --> 0:03:20.400 really started to tank. It was down thirty seven percent 0:03:20.440 --> 0:03:23.679 to end the year. So, long story short, a lot 0:03:24.000 --> 0:03:26.560 they have a lot of different issues Netflix, but one 0:03:26.600 --> 0:03:29.240 of the main issues is that Amazon is coming in 0:03:29.600 --> 0:03:31.440 and they're putting a lot of pressure on them. 0:03:31.520 --> 0:03:33.840 Yeah. Well Amazon is notorious for that. 0:03:33.840 --> 0:03:36.000 They see somebody's making money up down the street and 0:03:36.000 --> 0:03:38.120 they're like, all right, we got to figure out how 0:03:38.120 --> 0:03:40.640 we're en this, and usually we'll get into that is 0:03:40.720 --> 0:03:43.240 when they come into a space, they take over and 0:03:43.280 --> 0:03:44.000 dominate the space. 0:03:44.120 --> 0:03:44.320 Yeah. 0:03:44.440 --> 0:03:47.640 Yeah, the major players for sure. So last year Amazon 0:03:47.880 --> 0:03:51.880 spent five billion dollars on their original content for their 0:03:51.880 --> 0:03:55.320 streaming service. Right, So what that did was that made 0:03:55.440 --> 0:03:58.400 Netflix up there spending. So they up there spending from 0:03:58.400 --> 0:04:01.440 eight billion to twelve billion. So the problem with that 0:04:01.520 --> 0:04:05.480 now is that Netflix now spends more money on original 0:04:05.480 --> 0:04:08.000 content than any other American television network. 0:04:08.120 --> 0:04:10.800 And they've seen some benefits from it, like their shows 0:04:11.160 --> 0:04:16.560 have been well received, you know, Narcos and a couple 0:04:16.600 --> 0:04:19.840 of other things making up a Murderer. They've had great 0:04:19.839 --> 0:04:23.400 original content, whereas Amazon thus far has struggled with gain 0:04:23.520 --> 0:04:24.640 traction on some of this stuff. 0:04:24.760 --> 0:04:27.400 Yeah, so yeah, exactly. So you have Ozarks, you have 0:04:29.080 --> 0:04:34.000 you have Narcos, You have a lot of hit shows 0:04:34.520 --> 0:04:38.359 that are popular that our original Netflix shows, right, And 0:04:38.400 --> 0:04:40.640 like you said, Amazon, I don't think they really have 0:04:40.760 --> 0:04:42.159 that one show. 0:04:42.240 --> 0:04:43.560 They haven't had a stand up they. 0:04:43.480 --> 0:04:46.279 Hang their hat on yet. But I think their strategy 0:04:46.320 --> 0:04:48.200 is more of the long game. So what they're doing 0:04:48.279 --> 0:04:50.760 is so as I said, they put they so they 0:04:50.800 --> 0:04:54.000 spent five billion last year, right, So that made Netflix 0:04:54.080 --> 0:04:56.240 raise their spending from eight billion to twelve billions just 0:04:56.320 --> 0:04:58.800 to compete. So by spending twelve billion now now they 0:04:58.800 --> 0:05:03.320 spend more on content than any other American television network. 0:05:03.360 --> 0:05:06.560 Anybody ABC, NBC doesn't matter anybody. They spend the most. 0:05:06.760 --> 0:05:09.800 But the problem with that is that they work it 0:05:09.839 --> 0:05:12.679 on very thin margins, right, so they make very small 0:05:12.720 --> 0:05:15.560 profit because they're heavily leveraged. So they have a lot 0:05:15.600 --> 0:05:17.360 of debt, huge amount of debt. So last year that 0:05:17.440 --> 0:05:21.000 debt went up seventy one percent, right, So right now 0:05:21.000 --> 0:05:23.760 they have eight point three billion dollars in debt, right, 0:05:23.839 --> 0:05:27.960 So the problem is that going forward they can't sustain that. 0:05:28.000 --> 0:05:30.240 It's not sustainable. So one or two things that are 0:05:30.279 --> 0:05:32.800 gonna happen. They're going to keep borrowing billions of dollars 0:05:32.800 --> 0:05:36.240 and eventually they run the risk of going to bankruptcy 0:05:36.440 --> 0:05:39.880 or they raise subscription prices, which they actually already did. 0:05:40.080 --> 0:05:44.159 Yeah, Like they went from twelve dollars to sixteen dollars 0:05:44.279 --> 0:05:46.200 depending on your package. So if you've got the four K, 0:05:46.640 --> 0:05:49.919 it was sixteen dollars. If with that you can have 0:05:50.000 --> 0:05:53.160 four people sharing your account, it's like they lose money 0:05:53.200 --> 0:05:56.120 on that too, right, So like we have like I 0:05:56.200 --> 0:05:58.599 have an account, but there's like a few people that 0:05:58.720 --> 0:06:01.440 use it, right, and so those people that use my 0:06:01.520 --> 0:06:04.799 account now are not paid subscribers. So that's an issue 0:06:04.800 --> 0:06:06.560 that they've been combatant. But I'm just want to go 0:06:06.680 --> 0:06:08.520 back for a second because you said something that. 0:06:08.560 --> 0:06:09.840 Was really interesting about Amazon. 0:06:10.480 --> 0:06:13.680 One of their models and he Beosos wrote this in 0:06:13.720 --> 0:06:17.480 his nineteen ninety seven like letter, Jeff Bails. I'm sorry, 0:06:17.560 --> 0:06:19.679 Jeff Bayals said it in the opening of his company, 0:06:19.720 --> 0:06:22.680 is that they will They are about long term game. 0:06:23.160 --> 0:06:26.480 They really don't care about short term profit or loss. 0:06:26.720 --> 0:06:28.920 And we're going to see how that plays it apart 0:06:28.960 --> 0:06:32.440 in a company in a few minutes. But like, that's 0:06:32.440 --> 0:06:35.720 exactly what's happening now, right, we'll play this game with y'all. 0:06:35.760 --> 0:06:36.760 But I know that y'all to. 0:06:36.720 --> 0:06:39.200 Think about Amazon, it's the third biggest publicly traded company 0:06:39.200 --> 0:06:42.080 in the world, so they have a lot more resources 0:06:42.120 --> 0:06:45.159 and a lot more funding to, like you said, play 0:06:45.200 --> 0:06:47.960 the long game, right. They don't have to win this year, 0:06:48.400 --> 0:06:50.240 or even next year, even five years down the line. 0:06:50.240 --> 0:06:52.600 They can stretch it out for a long period of time. 0:06:53.120 --> 0:06:57.040 And if Netflix can't find a way to raise revenue 0:06:57.520 --> 0:07:00.679 at a faster pace, then they to be screw. 0:07:00.640 --> 0:07:02.560 Because stream is just a part of their business, like 0:07:02.600 --> 0:07:06.120 that cloud service iseah Amazon revenue. 0:07:06.000 --> 0:07:10.800 Yeah exactly. And then the last one that Netflix has 0:07:10.880 --> 0:07:13.720 to try to combat this is that they can cut content, 0:07:14.200 --> 0:07:18.440 so that would save the money, but that'll also compromise 0:07:19.400 --> 0:07:21.960 who they are, Like they're known for original content. That's 0:07:21.960 --> 0:07:25.440 why they spend so much money on content. So they 0:07:25.480 --> 0:07:29.560 have some issues, right. The debt is a major problem 0:07:29.600 --> 0:07:32.320 for them, and we have to see how it plays out. 0:07:32.320 --> 0:07:36.160 But it's interesting because Amazon Actually somebody said this to me, 0:07:36.280 --> 0:07:37.880 and it's true if you think about it. I'm not 0:07:37.920 --> 0:07:43.480 sure why Jeff Bezos named the company Amazon, but if 0:07:43.520 --> 0:07:48.120 you think about it, Amazon is the name Amazon means massive, huge, 0:07:48.160 --> 0:07:51.640 like the Amazon rainforest, you know. So that's really what 0:07:52.800 --> 0:07:56.080 the company has become, right. They're such a massive company 0:07:56.080 --> 0:07:59.200 that they they're willing to just spend massive amounts of 0:07:59.240 --> 0:08:03.640 money take over all the areas, right, whether it's shipping, 0:08:04.040 --> 0:08:07.800 whether it's books, whether now it's content. So that's really 0:08:07.800 --> 0:08:13.600 what they've become. They've become just the abominal snowmen. You 0:08:13.640 --> 0:08:14.320 can't stop them. 0:08:14.320 --> 0:08:16.040 It's like the big bully in business right now. 0:08:17.280 --> 0:08:20.560 And one of the companies that often gets left out 0:08:20.600 --> 0:08:24.120 sometimes in the streaming is Hulu. Obviously they don't generate 0:08:24.120 --> 0:08:26.600 as much money as Netflix. I think last say, they 0:08:26.600 --> 0:08:29.680 did eight point seven billion dollars. But they have a 0:08:29.800 --> 0:08:32.720 very interesting story. So Hulu for those are not familiar, 0:08:33.120 --> 0:08:36.120 they do offer original content, and some of the original 0:08:36.120 --> 0:08:38.679 content is really good, Like The Handsmaid's Tale is probably 0:08:38.720 --> 0:08:39.680 the most popular show. 0:08:40.360 --> 0:08:44.360 It's won plenty of awards for the acting in it. 0:08:44.720 --> 0:08:50.520 But they have live TV, which the other platforms don't 0:08:50.559 --> 0:08:52.760 really offer. Right, they can perform a lot. They have 0:08:52.920 --> 0:08:55.720 fifty channels. If you pay for their subscription, there's au 0:08:55.720 --> 0:08:58.360 premium subscription. I think it's like forty dollars. But what 0:08:58.440 --> 0:09:01.320 they do is to combat Netflix, who can't put on 0:09:01.640 --> 0:09:03.720 content that just happened. So like if you wanted to 0:09:03.760 --> 0:09:07.120 watch Power, you have to wait for that season to 0:09:07.120 --> 0:09:08.840 be over for it to even get to Netflix. 0:09:09.240 --> 0:09:12.080 They do it the next day, so they have that advantage. 0:09:12.080 --> 0:09:15.680 But one other thing that we looked at and studying 0:09:15.840 --> 0:09:17.880 Hulu is that and I looked at. 0:09:17.760 --> 0:09:19.120 Who owns it. 0:09:19.120 --> 0:09:23.280 It's split up between four companies, right, so Disney owns 0:09:23.320 --> 0:09:28.440 thirty percent, twenty first Century Fox owns twenty thirty percent, 0:09:28.840 --> 0:09:31.200 you have Comcasts that owns thirty percent, and I think 0:09:31.200 --> 0:09:33.280 Time Warner owns about ten percent. So you got one 0:09:33.320 --> 0:09:36.520 hundred percent of the company owned by four majority companies. 0:09:36.640 --> 0:09:36.840 Right. 0:09:37.160 --> 0:09:39.280 The interesting thing about that is that Disney's going to 0:09:39.280 --> 0:09:41.240 have its own streaming service too. So like if Netflix 0:09:41.240 --> 0:09:43.600 thought that Amazon was the problem, they have a big 0:09:43.640 --> 0:09:47.000 problem coming their way because Disney is about to take 0:09:47.040 --> 0:09:49.240 all their content, all of Netflix, right, So now they 0:09:49.320 --> 0:09:53.040 have they have the Marvel catalog, they have all their 0:09:53.080 --> 0:09:59.320 Disney catalog, they have Star Wars catalog. But they just 0:10:00.240 --> 0:10:02.360 are about to close on a deal I think the 0:10:02.400 --> 0:10:06.080 top of the first maybe sometimes this quarter, to acquire 0:10:06.080 --> 0:10:06.839 twenty fourth Century. 0:10:07.000 --> 0:10:09.400 Well, the interesting thing also is that now Apple's getting 0:10:09.400 --> 0:10:12.800 in the streaming game. Yeah, so Apple this year they're 0:10:12.800 --> 0:10:19.199 gonna put as out a billion dollars to their new 0:10:19.200 --> 0:10:24.800 streaming service. So Apple's interesting because Apple a lot of people. 0:10:24.880 --> 0:10:27.720 Majority of people have iPhones, right, and the way we're 0:10:27.720 --> 0:10:32.280 consuming content now is more and more on our mobile 0:10:32.280 --> 0:10:35.079 devices and not on television. So if you now they 0:10:35.120 --> 0:10:38.160 have a unique advantage because it's going to be free. 0:10:38.440 --> 0:10:41.679 They probably factor in the court somewhere in the phone, 0:10:41.720 --> 0:10:44.160 but it's going to be free. Everybody's gonna have it 0:10:44.200 --> 0:10:48.480 on their phone, right, like iTunes something like that. So 0:10:48.600 --> 0:10:51.720 now like how you watch YouTube on your phone, you'll 0:10:51.760 --> 0:10:54.240 be able to watch the Apple streaming on your phone. 0:10:54.280 --> 0:10:56.560 So they'll have shows that they just gave Kevin Durant 0:10:56.840 --> 0:10:58.480 some money for a show that he's gonna put out. 0:10:58.520 --> 0:11:02.560 So they're putting more into into different shows, original content. 0:11:02.679 --> 0:11:04.760 But the advantage that they have, like I said, they 0:11:04.800 --> 0:11:07.680 already have the platform. 0:11:07.240 --> 0:11:07.960 Billions of users. 0:11:08.000 --> 0:11:10.640 Yeah, they already have the billions of people that already 0:11:10.679 --> 0:11:14.160 have iPhones and iPads already. So now when they put 0:11:14.200 --> 0:11:18.520 the content directly on your phone, it even makes it 0:11:18.559 --> 0:11:21.400 easier easier to consume because now you don't have to 0:11:21.440 --> 0:11:23.400 go to the app, or you don't have to you know, 0:11:23.480 --> 0:11:24.720 I mean you have an app, but the app is 0:11:24.720 --> 0:11:26.439 already on your phone. It's not something that you even 0:11:26.480 --> 0:11:27.079 have to download. 0:11:27.160 --> 0:11:30.480 So so I mean, those are two major competitors that 0:11:30.520 --> 0:11:32.559 are coming in this lane and within the next year 0:11:32.640 --> 0:11:35.600 or so. Right, because if Disney goes through with that, 0:11:35.760 --> 0:11:38.160 I think seventy one billion dollar purchase of twenty first 0:11:38.160 --> 0:11:39.119 century Fox. 0:11:39.280 --> 0:11:41.120 Of film and TV division. 0:11:41.920 --> 0:11:46.080 Now they own sixty percent of Hulu, right, that's number 0:11:46.120 --> 0:11:48.720 three in the streaming service. They own sixty percent of that, 0:11:48.800 --> 0:11:51.120 plus they're going to bring their own content. I mean, 0:11:51.880 --> 0:11:53.239 that's a goliath. 0:11:53.800 --> 0:11:58.160 Yeah, and it's important too for people that you know 0:11:58.320 --> 0:12:02.679 are creators, is that right now is a brilliant time 0:12:03.280 --> 0:12:06.400 to get funding in your programs, right, because it's a 0:12:06.480 --> 0:12:10.400 race shows. So you have all of these different companies 0:12:10.400 --> 0:12:13.320 that are spending massive amounts of money and they're looking 0:12:13.440 --> 0:12:14.600 for original content. 0:12:15.160 --> 0:12:17.640 So like you even that, like some of them are 0:12:17.760 --> 0:12:21.320 catered toward kids, right, and then some are catered toward 0:12:21.520 --> 0:12:23.400 the adult population and middle aged people. 0:12:23.440 --> 0:12:25.080 So it's going to be an arms race. 0:12:25.120 --> 0:12:27.280 But one of the interesting things that we the fact 0:12:27.280 --> 0:12:30.880 that we even have this conversation is that people are 0:12:30.920 --> 0:12:34.160 not doing cable service anymore, Like people have cut the cord, 0:12:34.280 --> 0:12:36.440 and like these are the results of that. We can 0:12:36.480 --> 0:12:40.319 see that, like these companies are existing because people have decided, listen, 0:12:40.760 --> 0:12:42.800 one hundred and sixty dollars a month for me to 0:12:42.800 --> 0:12:46.120 watch five to ten channels, it's just not worth it anymore. So, right, 0:12:46.440 --> 0:12:50.680 So then HBO has their own streaming service, Showtime gets 0:12:50.679 --> 0:12:53.200 their own streaming service. Right, you can subscribe just to 0:12:53.240 --> 0:12:55.240 those things now you don't even have to go through 0:12:55.640 --> 0:12:59.120 cable vision over rising now, So like that's a result 0:12:59.200 --> 0:13:01.400 of cord cutting that this conversation in itself. 0:13:02.480 --> 0:13:05.520 Yeah, yeah, the landscape has changed. Just like I said, 0:13:05.840 --> 0:13:09.120 we talked about music. Music landscape has changed, but also 0:13:09.760 --> 0:13:14.240 television TV landscape has changed and probably will continue to 0:13:14.280 --> 0:13:14.720 be changed. 0:13:14.760 --> 0:13:16.079 I mean, you're not a big TV guy, but like, 0:13:16.120 --> 0:13:18.120 how many channels do you watch when you are watching TV? 0:13:18.559 --> 0:13:21.200 Yeah, I don't watch that. I watched sports ESPN. 0:13:21.320 --> 0:13:24.440 Like I watched maybe four channels and I pay for 0:13:24.800 --> 0:13:25.960 seven hundred of them. 0:13:26.280 --> 0:13:28.160 Right, So like this is this is the way. This 0:13:28.200 --> 0:13:29.760 is going to be the way of the future obviously. 0:13:30.760 --> 0:13:36.040 Yeah, okay, okay, all right, So anymore to add about that. 0:13:36.160 --> 0:13:39.160 Or yeah, I mean, let's let's say with Amazon, because 0:13:39.600 --> 0:13:42.160 something that's happening, especially in our area right now, is 0:13:42.240 --> 0:13:46.360 people are starting to realize that this Amazon effect and 0:13:46.640 --> 0:13:48.959 what that really is is just like like you said, 0:13:49.040 --> 0:13:53.560 like they encompass everything. So the Amazon effect really just 0:13:53.640 --> 0:13:57.640 means a complete domination or disruption of a market. 0:13:57.760 --> 0:14:02.840 And we've seen them do this and companies have disappeared. 0:14:03.400 --> 0:14:06.199 I'll get you there's an example of in twenty ten 0:14:06.600 --> 0:14:09.920 and your father, I'm a father, there was a company 0:14:09.920 --> 0:14:11.079 called diapers dot com. 0:14:11.360 --> 0:14:11.960 Yeah heard of them? 0:14:12.559 --> 0:14:15.280 No, I know, So diapers dot com pretty much was 0:14:15.320 --> 0:14:19.880 an online site to help parents you order deliver pampas 0:14:19.920 --> 0:14:22.960 to your house, and Amazon decided, hey, we want to 0:14:22.960 --> 0:14:23.560 get in this game. 0:14:23.720 --> 0:14:24.680 We're getting in this game. 0:14:25.160 --> 0:14:29.600 So they decided to have Amazon Mom and their subscription 0:14:29.880 --> 0:14:32.760 was if you join Amazon Mom, you get Amazon Prime 0:14:33.080 --> 0:14:36.080 free for three months, plus discounted prices. So like, if 0:14:36.120 --> 0:14:38.960 you know Prime, I'm a Prime member, you get free 0:14:38.960 --> 0:14:42.840 two day shipping and you're getting discounted on the on 0:14:43.360 --> 0:14:46.280 what you're ordering. Right, so whatever whatever Baby supplies it as, 0:14:46.360 --> 0:14:48.600 let's just say there's diapers, you're getting discounted. So it 0:14:48.640 --> 0:14:50.880 was maybe forty dollars a bucks now it's maybe twenty 0:14:50.880 --> 0:14:54.960 five dollars a box. They did that to just combat 0:14:54.960 --> 0:14:57.400 with diapers dot Com was doing and they saw that 0:14:57.480 --> 0:14:59.720 they were losing money by doing it. But while they 0:14:59.760 --> 0:15:02.080 were lo and money, Typers dot Com losing money too 0:15:02.400 --> 0:15:06.640 because two things that parents always look for affordability and accessibility. 0:15:06.880 --> 0:15:08.320 Is it going to be affordable for me to get 0:15:08.320 --> 0:15:11.400 these pampers. Yeah, it's fifteen dollars cheaper and it gets 0:15:11.400 --> 0:15:13.200 delivered directly to my home in two days. 0:15:13.480 --> 0:15:16.920 I'm taking that route. So they lost money, right, but 0:15:17.000 --> 0:15:19.440 in the end, Typers dot com get shut down. Guess 0:15:19.480 --> 0:15:21.440 who buys them? 0:15:21.240 --> 0:15:26.080 Amazon buys them out goodbye, Right, So like just completely 0:15:26.120 --> 0:15:30.320 come into a space, take a loss, right, but then 0:15:30.400 --> 0:15:32.280 all right, we'll buy you, thank you, We'll take it. 0:15:32.680 --> 0:15:36.720 Like I watched the Nature Channel sometimes and one of 0:15:36.760 --> 0:15:40.040 these animals, I think it's either a crocodile or an alligator, 0:15:40.160 --> 0:15:43.840 maybe both. But how they kill their prey is that 0:15:44.480 --> 0:15:47.600 they smother them and then they drag them into the 0:15:47.720 --> 0:15:51.360 road and they just keep going deeper and deeper soil. 0:15:51.400 --> 0:15:54.000 You can't breathe anymore. Right, And that's pretty much the 0:15:54.000 --> 0:15:57.120 business strategy that Amazon is doing, right. It just yeah, 0:15:57.400 --> 0:16:00.160 take you out further and further into the deepen. You 0:16:00.160 --> 0:16:02.120 can't breathe anymore, and eventually you're going to have to 0:16:02.160 --> 0:16:03.840 just give up. Yeah, we'll take it over for a minute. 0:16:03.880 --> 0:16:06.960 But they so they try that again in the home 0:16:07.280 --> 0:16:08.240 home service. 0:16:09.400 --> 0:16:13.040 Market, Like there was a company called Porch and they 0:16:13.040 --> 0:16:14.080 were deciding. 0:16:13.720 --> 0:16:15.400 Hey, people needed help doing things. 0:16:15.440 --> 0:16:18.040 If you needed plumbing, if you needed lighting, if you 0:16:18.160 --> 0:16:21.760 needed anything fixing your home TV mountains. They were providing 0:16:21.760 --> 0:16:24.360 that service. Amazon saw that and said, you know what, 0:16:25.160 --> 0:16:29.000 We're going to provide home service. Right, So rather than 0:16:29.080 --> 0:16:33.280 folding like diapers dot Com did. Porchs decided the only 0:16:33.280 --> 0:16:35.680 way we're gonna survive is to try to compete with them, 0:16:36.080 --> 0:16:37.960 just for the short term. So what they did was, 0:16:38.120 --> 0:16:41.160 you know what, we'll go to your competitor. So they decided, Hey, 0:16:41.200 --> 0:16:42.960 we're going to go to home Depot, We're gonna go 0:16:43.000 --> 0:16:45.280 to Lows and we'll partner with them, and that's how 0:16:45.320 --> 0:16:48.920 we'll keep our business going. So that's another way like, hey, 0:16:49.080 --> 0:16:51.840 rather than just folding short term, let's just keep afloat 0:16:52.200 --> 0:16:54.800 until they just say, you know what, you're. 0:16:54.720 --> 0:16:59.000 Drowning and you have an other choice. Yeah, it's interesting. 0:17:00.040 --> 0:17:03.640 Amazon's in the news now in our area because most 0:17:03.680 --> 0:17:05.080 people know and if you don't. 0:17:05.240 --> 0:17:07.960 They're looking for a second headquarter and they chose two 0:17:08.000 --> 0:17:13.200 cities and New York City was one and Virginia Crystal City, Virginia, 0:17:13.200 --> 0:17:17.200 which is the DC metro area. Yeah, and it's interesting 0:17:17.280 --> 0:17:20.520 because Long Island City is where it's going to be. 0:17:21.040 --> 0:17:23.520 And when people think Long Island City, they probably think 0:17:23.560 --> 0:17:26.399 that is out in Long Island, and we know that 0:17:26.440 --> 0:17:27.159 it's in Queens. 0:17:27.600 --> 0:17:29.440 So this facility is going to be built in Long 0:17:29.440 --> 0:17:30.040 Island City. 0:17:30.480 --> 0:17:33.879 But the interesting thing about it is that Long Island 0:17:33.920 --> 0:17:35.760 City where the site. 0:17:35.640 --> 0:17:37.600 Is going to the construction is going to take place 0:17:37.760 --> 0:17:38.440 if it goes. 0:17:38.240 --> 0:17:41.399 Through, is one down, one mile down the road from 0:17:41.440 --> 0:17:43.920 a place we know very well in hip hop music. 0:17:44.280 --> 0:17:47.479 Yeah probably not even well. No Long Island City all right, 0:17:47.520 --> 0:17:52.680 so Queensbridge Project the biggest housing projects in North America 0:17:52.800 --> 0:17:59.639 right home of legendary rappers Na Nas, Mob Deep, Molly 0:17:59.720 --> 0:18:12.400 Ma Pamega and then also run our test yes so yeah, 0:18:12.480 --> 0:18:15.040 so a lot of it's been a lot of backlash 0:18:15.119 --> 0:18:19.960 that that will lead to further gentrification of the area. 0:18:20.200 --> 0:18:23.840 Change it, But Long Island City is already gentified if 0:18:23.880 --> 0:18:27.439 you know the area. It's an interesting case study that 0:18:27.480 --> 0:18:31.000 we actually have a whole different discussion about that certification 0:18:31.240 --> 0:18:35.240 and real estate and things of that nature. But not 0:18:35.359 --> 0:18:37.520 to stay on this topic for too long, but that's 0:18:37.560 --> 0:18:42.000 an interesting case study within itself, because you know, I 0:18:42.080 --> 0:18:45.040 travel and I see different places, not just in New 0:18:45.119 --> 0:18:46.600 York but all over the world where. 0:18:46.440 --> 0:18:48.640 A lot ernest what's up. 0:18:48.720 --> 0:18:51.199 You ever walk into a small business and everything just 0:18:51.359 --> 0:18:54.520 works like the checkout is fast, the seats are digital, 0:18:55.040 --> 0:18:58.040 tipping is a breeze, and you're out the door before 0:18:58.040 --> 0:19:02.199 the line even builds odds are they're using Square. We 0:19:02.359 --> 0:19:04.879 love supporting businesses that run on Square because it just 0:19:04.920 --> 0:19:08.120 feels seamless. 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