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Pixel Wealth


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Spunko's website of the day.

https://mkorostoff.github.io/1-pixel-wealth/

Gets a bit political in the middle, frankly I think third-world deaths should be encouraged rather than trying to fund a vaccine.

I also heard, no idea if true but, if you earned £100k a day, every day, since the day Jesus Christ was born, you'd still have less than Jeff Bezos.

Edit: someone posted this a few months back, in another thread, can't remember who now, sorry.

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Seems to be primarily a "Jeff Bezos is a cunt" page.

Letting us give him money entirely voluntarily in exchange for things we want at better prices and with better customer service than anyone else.   Total bastard.  I'm jealous and want some of his money before his wife takes what is rightfully mine for sitting on my ass and doing fuck all except moaning about other people who are richer than me.  It's so unfair.

 

 

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33 minutes ago, spunko said:

@Libspero Bezos's greatest trick is convincing the world that Amazon is cheaper than everywhere else :Old:

Perhaps,  but how do you calculate it ?

For me Amazon is mostly for things I couldn't easily find in a supermarket (or now, Costco).

If I added up the petrol,  and possibly parking charges for driving into town for each of these items..  plus the wasted Saturday mornings..   I think it's a pretty good value proposition. 

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1 hour ago, spunko said:

@Libspero Bezos's greatest trick is convincing the world that Amazon is cheaper than everywhere else :Old:

It started off being cheaper, however it is now very much all about convenience (especially with free next day delivery with Prime).

Compared to most of his billionaire peers he seems quite happy to retain his wealth. I would’ve expected at least a few token offers of philanthropy, although he has muted climate change while shipping Chinese tat around the world. 

https://www.forbes.com/sites/jenniferwang/2020/09/08/the-new-forbes-philanthropy-score-how-we-ranked-each-forbes-400-billionaire-based-on-their-giving/ 

 

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1 hour ago, MrPin said:

I'm not sure he makes all the money from online selling.

Most the money currently comes from AWS I believe, which subsidies the shopping. Their long term play seems to be getting everyone in the world paying £8 a month for Prime rather than people buying goods.

The two things I've never really understood about Amazon is that why so many people use it when it's guaranteed to be the most expensive shopping option. Secondly  that IT managers are quite happy to throw £100k+ a month for AWS usage for what could be done on a few £50 a month linux boxes and one decent DevOps guy.

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1 hour ago, Libspero said:

Perhaps,  but how do you calculate it ?

For me Amazon is mostly for things I couldn't easily find in a supermarket (or now, Costco).

If I added up the petrol,  and possibly parking charges for driving into town for each of these items..  plus the wasted Saturday mornings..   I think it's a pretty good value proposition. 

But those apply to online shopping in general, not just Amazon. A lot of people often conflate the two, which is a shame.

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1 hour ago, NTB said:

I'm not sure Amazon has ever made a profit. What strange process allows you to get so rich if you are not making any money?

Well, it does make a profit, but not enough to justify the share price -- by at least an order of magnitude.

And Bezos' wealth is about the share price, not the income he gets from owning the shares...

Of course, shareholders are pricing it for its future growth (tech stock) rather than its current turnover (ie, as a retail stock) -- but I'd ask how much actual growth there is to come with Amazon...

It reminds me of the Japanese real-estate bubble -- IIRC the land-value of the Imperial Palace in Tokyo was valued at more than the total land value of California -- that was based on a nice simple extrapolation of 'past' into 'future', along with the assumption that 'the future looks like the past, but more so' -- and we know how that ended up...

Edited by dgul
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1 hour ago, Libspero said:

Perhaps,  but how do you calculate it ?

For me Amazon is mostly for things I couldn't easily find in a supermarket (or now, Costco).

If I added up the petrol,  and possibly parking charges for driving into town for each of these items..  plus the wasted Saturday mornings..   I think it's a pretty good value proposition. 

 

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For me Amazon's advantage comes from the return policy, particularly for larger purchases.

Not that I've returned many things, and nothing without a good reason. The last thing was a monitor, dead pixel right in the middle of the screen. Box had clearly been opened (presumably rejected by previous buyer too, so that's a drawback) but at least I could return it for free, with a full refund.

 

Edited by Lightly Toasted
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57 minutes ago, spunko said:

But those apply to online shopping in general, not just Amazon. A lot of people often conflate the two, which is a shame.

I understand..   there's just the hassle.

I used to look for things on Amazon and then buy direct from the retailer.   The problem I had was the price was either the same,  or often more,  buying direct.  Then on top of that you had to register your card and often be forced to set up an account,  requiring a profile to be created,  and passwords to be set,  and email verified and etc etc.

The only way I can think that mom&pop online stores will ever compete for convenience will be if someone sets up a central payment portal.   So you sign up once to the portal,  and it remembers your address and payment details.  Then,  when you go to a partner webpage you just click the item,  go to shopping cart and click buy..   just like Amazon.    If most webpages signed up to it,  that would be a serious threat to Amazon in my opinion.  Convenience (and possibly delivery infrastructure) are really the only USP that Amazon have over other online retailers. 

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24 minutes ago, Libspero said:

So you sign up once to the portal,  a

Most browsers will remember your address and payment details then fill them in for you. Amazon success must be based on more than just that. 

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58 minutes ago, Libspero said:

I understand..   there's just the hassle.

I used to look for things on Amazon and then buy direct from the retailer.   The problem I had was the price was either the same,  or often more,  buying direct.  Then on top of that you had to register your card and often be forced to set up an account,  requiring a profile to be created,  and passwords to be set,  and email verified and etc etc.

The only way I can think that mom&pop online stores will ever compete for convenience will be if someone sets up a central payment portal.   So you sign up once to the portal,  and it remembers your address and payment details.  Then,  when you go to a partner webpage you just click the item,  go to shopping cart and click buy..   just like Amazon.    If most webpages signed up to it,  that would be a serious threat to Amazon in my opinion.  Convenience (and possibly delivery infrastructure) are really the only USP that Amazon have over other online retailers. 

This has already been done, and is in its infancy, but sadly it's controlled by one of the world's biggest brands (Shopify), called Shopify Pay.

All you do is login to it, and then receive a confirmation SMS that it's indeed you filling it out, and click pay. All credit card & address stuff is prefilled.

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21 hours ago, Lightly Toasted said:

For me Amazon's advantage comes from the return policy, particularly for larger purchases.

Not that I've returned many things, and nothing without a good reason. The last thing was a monitor, dead pixel right in the middle of the screen. Box had clearly been opened (presumably rejected by previous buyer too, so that's a drawback) but at least I could return it for free, with a full refund.

 

That's the only time I use Amazon, if it's an expensive electrical purchase and there's a chance I might be fucked over by some Mohammed trading out a warehouse up north.

My old man made a stupid £3k purchase off Amazon FBA thinking he was buying off Amazon direct. He decided he wanted to return it after 15 days or so, contacted the seller but the spiv was avoiding him "sorry mate boss is out the office nothing we can do" to fobbing him off "nah sorry mate no returns after 12 days". They were just laughing at him down the phone at one point. Went on for days well past the normal 21 day limit. I decided to put a return request in through Amazon, one phone call and two web chats later we get an email from Amazon: "The money will be in your account next day". The spiv went fucking mental. Sorry son you might be a bullying piece of shit, but Amazon is bigger and nastier than you.

21 hours ago, Libspero said:

I understand..   there's just the hassle.

I used to look for things on Amazon and then buy direct from the retailer.   The problem I had was the price was either the same,  or often more,  buying direct.  Then on top of that you had to register your card and often be forced to set up an account,  requiring a profile to be created,  and passwords to be set,  and email verified and etc etc.

The only way I can think that mom&pop online stores will ever compete for convenience will be if someone sets up a central payment portal.   So you sign up once to the portal,  and it remembers your address and payment details.  Then,  when you go to a partner webpage you just click the item,  go to shopping cart and click buy..   just like Amazon.    If most webpages signed up to it,  that would be a serious threat to Amazon in my opinion.  Convenience (and possibly delivery infrastructure) are really the only USP that Amazon have over other online retailers. 

Most online retailers have learnt from the mistake of forcing registration at the start of checkout, these days it's mostly an option after payment is completed.

These "central payment portals" exist, PayPal, Stripe etc. For instance I built a mini e-commerce site around PayPal once. User clicks the pay with paypal button, they sign in, then their existing payment details and address is automagically filled in on the e-commerce store. Stripe is similar.

Edited by gibbon
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Several posters have said it already; convenience. Don't underestimate convenience, many people will happily pay a little extra for it. Most of the western world paying small convenience premiums means Bezos' wealth is secure.

 

Last year I was sat in a pub with a group of people who were generally thoughtful left-leaning individuals, the sort you would expect to think Amazon is bad and try to avoid using it where possible. We chatted about Amazon and I asked who had ordered something from there in the last couple of months. Every hand went up.

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Amazon has been perfect for me during the last 7 months. 

Competitive prices, items in stock etc. 

I don't do prime (yet) but I'm more than happy to pay a fiver for next day delivery at present for days when I know I'm not going out anywhere. (and I'm a tight bastard Yorkshire man.) 

Business ethics aside, his "product" is amazing. 

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I don't feel much love for Amazon. Try ordering something on a Friday and it won't come til Tuesday, even if you're paying for Prime at £100 a year.

Argos do same day delivery for most products for £4, I can't fault that. Plus they pay tax here, are often cheaper than Amazon, and don't employ human slaves. AFAIK.

 

Plus, Bezos is a simp.

https://twitter.com/jeffbezos

He only follows one person on Twitter, his ex-wife. And she doesn't even follow him back! xD

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