Amazon (AMZN) CEO Jeff Bezos Interview

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Amazon (AMZN) CEO Jeff Bezos on building out a logistics platform to compete with FedEx & UPS

“We are not aiming to take over last mile delivery.  We are looking to supplement it heavily.  It happened first in the UK but Royal Mail ran out of capacity at peak.  We have to plan, just like any company would, to have capacity not for the average load but for the peak which is usually around the holiday season.  So we’ve had to take over last mile delivery in the UK over the last several years and we’re about half of the capacity there doing it ourselves and, in certain parts of the US, we’re doing last mile delivery.  What we want is better prices on transportation.  We are driven to supplement their capacity.  We’re growing our business with US Postal Service and we’re growing our business with UPS and we’re still supplementing.  And I predict that will continue for some time.”

Amazon (AMZN) CEO Jeff Bezos on why they are building physical book stores

“We built one in Seattle.  We announced the second one in San Diego.  We’re learning.  We’ve got a few experiments going on to figure out the right layout, the right store size, and the right approach in general.  Already, we like what we’re finding.  It’s very different than any other book store you’ve ever been into, it has a very small selection, highly curated, only about 5000 titles and they are all face out on the shelves.  And they’re picked based on the data that we have at Amazon website.  This is about browsing and discovering and having a fun place to wander around in.”

Amazon (AMZN) CEO Jeff Bezos on dealing with critics

“As a public figure, the best defense to speech that you don’t like against yourself is to develop a thick skin.  It’s really the only effective defense because you can’t stop it.  You are going to be misunderstood.  If you’re doing anything interesting in the world, you’re always going to have critics.  If you absolutely can’t tolerate critics, than don’t do anything new or interesting than you can insulate yourself.”

Amazon (AMZN) CEO Jeff Bezos on the importance of artificial intelligence

“The importance of machine learning and artificial intelligence is gigantic.  It’s hard to overstate how big of an impact it’s going to have on society over the next 20 years.  It doesn’t mean phone’s are going away or voice interfaces will replace everything.  We’re seeing amazing progress with machine vision.  The combination of new and better algorithms and vastly superior compute power and the ability to harness huge amounts of training data.  This will help us solve previously unsolvable problems and help us solve huge problems for customers.  And there’s so much more to come.  It’s the first inning, in fact in might be the first guy who’s up at bat.  I think we’re on the edge of a golden era.”

Amazon (AMZN) CEO Jeff Bezos said the bigger companies have the competitive edge in artificial intelligence

“Larger tech companies like Amazon have an advantage because of the training data sets that are required to do this.  You need a lot of data to do extraordinary things with the current algorithms we have.”

 

 

Source: https://www.youtube.com/watch?v=guVxubbQQKE

May 31st, 2016