Amazon: Built on and for the Telecosm

Part 1 of this excerpt... [Gilder's Daily Prophecy] December 21, 2020 [UNSUBSCRIBE]( | [ARCHIVES]( (Bare minimum) 19.45% per week? [This]( is the easiest way we’ve ever found for you to see the chance at returns of 19.45%… every week… In fact, I’m so confident that you’ll have the ability to pull 19.45% every week on average if you follow the strategy outlined on [this page…]( That my colleague has put $10 million on the line… just to prove it. Yes! We’re guaranteeing you will be shown how to make a minimum of 19.45% returns every week using this strategy. But only if you hurry. I cannot guarantee how long we will keep this video online. If you’re interested at all, you need to [click here to see how you could collect 52 paydays… I’m talking the shot at 19.45% returns per week for the next year – guaranteed.]( Amazon: Built on and for the Telecosm [George Gilder]Dear Daily Prophecy Reader, Below you’ll find part 1 of an excerpt from the November issue of The George Gilder Report. If you aren’t currently a subscriber, you can [go here]( for more information. [Gilder: "$16.8 Trillion 'Reboot' Will Save World Economy..."]( Amazon was the first great company in history to be built on and for the Telecosm, other than the network providers themselves. It was the Telecosm, using the speed-of-light (fiber optics) to extend the effective span-of-life (time-price) of customers, that made Amazon possible. In the form of the World Wide Web, the Telecosm gave Amazon birth as the first serious, purpose-built online retailer. It was founder Jeff Bezos who first perceived the paradigm that would drive online retail, just as it was Bezos saw that books (and then music) were the perfect first expressions of the paradigm. Shortly after the launch of Amazon in 1996, I attended a dinner party at Microsoft Word inventor Charles Simonyi’s resplendent white mansion. At that party, on Lake Washington near Seattle, Bezos personally signed me up for Amazon. On April 6, 1998, when Amazon shares stood at $14.77 and its market cap was near $2 billion, I touted the company as a vessel of my speed-of-light and span-of-life paradigm. As a precursor of my model of money as time, I celebrated Amazon as a life extender for its ability to “save the customers’ time.” A few years later, in 2007, when Amazon launched its first Kindle, I discovered that I could find a book more quickly by a Kindle search than by poring through my library. This ability to find products that are difficult to search out in stores or even in personal libraries or inventories is an expression of what is called the “long tail” — the concept that a business can be profitable by selling low volumes of many hard-to-find items. 04ghd74j - 3b95 - dt38 - 43vg - g7sp38gt [Code]( this 32-digit code? While it’s just for illustrative purposes, it’s the prototype for a brand-new digital infrastructure that is set to replace the “old internet” as we know it. Act now to be early on the “new internet”… [Continue Reading >>]( [The Internet as we know it is about to change forever…]( Solving for Shelf-Space Scarcity The essence of traditional retail is to bring products physically within browsing distance of a local customer. Local shelf space is the indispensable, scarce, and expensive resource for that strategy. Retailers must limit consumer choice to products that turn over quickly enough to pay the rent. If the item doesn’t qualify, you cannot readily find it for whatever price. Try this for any traditional retail store. Draw a graph showing the numbers sold for any one product on the y axis. On the axis, rank the items by numbers sold, with the best-selling item at the extreme left. What you will get is an L-shaped curve with the horizontal foot of the L cut off quite short as it drops toward y = zero. Even before that point however, the curve will come to an abrupt halt: what would be the next ranked item won’t be offered in the store at all — there’s not enough money in it to justify the shelf space. Shelf space limits consumer choice. Bezos saw that online retail could change that. He saw that without retail shelf space to pay for, he could provide near-infinite choice. He could offer long-tail products and make money even on items that sold only hundreds of copies a year, especially if he could find millions of items that sold only hundreds of copies a year. That is one of two specific advantages of online retail. (I’ll get into the second advantage in a bit.) Books were the obvious demonstration case. There are millions of titles that sell (or would sell if buyers could find them) maybe 50 to 1,000 copies a year, most of which would not merit an inch of shelf space in prime retail real estate. Now, Bezos did not coin the term “long tail.” That was Chris Anderson in a famous article in Wired, and later in a book published years after Amazon launched. But Bezos saw it first — and most clearly. He knew that as a long-tail vendor one could even charge a premium for these otherwise hard-to-find items. And as the go-to vendor for the hard-to-find items, you could build a loyal constituency This was a great insight. Bezos went beyond insight to transformative action in the physical world. From the beginning, Amazon straddled the ephemeral realms of light and logic and the sweaty business of moving heavy objects from the here to there. Bezos kept stretching the long tail by driving forward the very technologies that made it possible in the first place. More on this tomorrow... Regards, [George Gilder] George Gilder Editor, Gilder's Daily Prophecy America’s Death Spiral Begins January 15? [Everything has become horrible recently]( you’re like most folks, you’re probably wondering how we got here... America’s institutions are rotten to the core. Common sense and human decency are relics of the past. And Americans at each other’s throats. Well, it wasn’t by accident. The prophetic analyst who predicted the subprime mortgage meltdown… the financial crisis of 2008… and Brexit… Says a grand experiment has been conducted on the American people without our consent. And the horrifying endgame is set to arrive on January 15, 2021… Will you be ready? [Click here for the full details.]( [Three founders Publishing]( To end your Gilder's Daily Prophecy e-mail subscription and associated external offers sent from Gilder's Daily Prophecy, feel free to [click here](. If you are having trouble receiving your Gilder's Daily Prophecy subscription, you can ensure its arrival in your mailbox by [whitelisting Gilder's Daily Prophecy](. 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