Why Are The Biggest Tech Companies So Dominant Alex Kantrowitz Modern Wisdom Podcast 174

Author:

Video Creator’s Channel Chris Williamson

author link

So Jeff Bezos Goes In Front Of This Audience,

and there’s probably more than 10,000 people in the stadium and go what his day to look like and says something like Day two is stasis, followed by irrelevance followed by slow painful decline, followed by death for the whole company and he looks out and he goes and that’s why it’s always day one. Alex Kantrowitz in the building how you doing one I’m doing great really glad to be on with you. Chris thanks for having me today. It’s timely for me to have someone that reports on tech given that an hour ago from when we’re recording this Elon Musk just tweeted Tesla stock price is too high UK and they’re now down 11% that’s right Chris but to be honest anytime you we have recorded this podcast whether it was today a couple weeks ago or a. Few weeks from now, Elon would definitely tweet something absolutely ridiculous that would send his company in some sort of tailspin, so it’s not very surprising that he tried to tank his stack about five minutes before we hopped on here, so Yvonne’s just gonna keep being Elon that’s just how he does things heal Undid an Elon didn’t he yes he did yes he did when and did ladies his twitter is definitely fun to follow.

I Mean You Just Just Mostly Because

of the unpredictability about it like he’s got this valuable thing and Tesla and he keeps playing with its future every time he hits that tweet Button like for him especially maybe you should just you know have someone where he has to read the tweets aloud and then they type it into the box and then they send it and that might prevent some of. This stuff from happening, but it doesn’t seem like he’s really interested in that so no yeah I think a guardian of his Twitter, you know like you get when you’ve got you carry on you kids aren’t allowed to use the UK for more than an hour a day or whatever you know I look at this This this tweets got the wood stock price in it This means that it needs to go through five layers. You don’t want to certain that but until until he does his Twitter accounts gonna be a lot of fun to watch and you’re right you’re right as well. Despite the fact he’s done that today whenever this gets published Whenever this episode goes live, you know they’re probably done something that day too so just go and have a look at Elan Musk of Twitter right now and see what he’s. done I’d love to kind Don’t have the same reaction Yeah anyway We’re not talking about Elon Musk today we’re talking about your new book always day one.

Why Is It Called Always Day One

Yeah It’s a great question. So I so Jeff Bezos gets in front of Amazon’s employees a couple years ago and he’s got this card with him and it’s at the end of this All Hands meeting and it says it’s a question submitted from one of his employees and it says what does date to look like. This is sort of not the thing that you want to ask Jeff Bezos because he’s been preaching this always day wad mentality inside Amazon and I always thought that all this day one just sort of meant you. Don’t want to work as hard as you possibly can you work nights you work weekends you work. holidays and if you take your foot off the gas pedal you’re done and so Jeff Bezos goes in front of this audience and there’s tendon.

I Mean Yeah Probably More Than Ten

thousand people in the stadium in Seattle and go what his day to look like and he says something like day two is stasis followed by irrelevance followed by slow painful decline followed by death for the whole company and he looks out and he goes and that’s why it’s always day one and you know I saw this clip when I was getting deep into my reporting on Amazon and my first view of it was oh He is doing this hustle porn thing work so hard. You know work eighty-ninety hours otherwise you’re out of Amazon and if that was the case I definitely would have had it would not have had it as. the title of the book because I you know I do think that it’s important to work hard, but I’m kind of skeptical of these people. Let’s say you need to work 100 hours a week or you’re not gonna make it. I think it’s possible to have a healthy work-life balance and still do okay what I found out that always day one meets inside Amazon is that they’re always inventing the next business line without any regard for what what they have today and what they had in the past so for them.

Its About Reinvention Its About Lets Keep

building new products. We won’t sit on our flagship products and wait for them to take us you know all the way because you know right now it’s just impossible to do that. In the 1920s, the average company would sit on the 14th of fortune 500 for. years today it’s 15 years so that’s why Amazon and Mint and the rest of the tech giant’s live in this always day one mentality They’re constantly reinventing because they know if they get to Prussia‘s about the present and the past they’re going to miss the future. So there’s this mentality that they have to continually be inventing themselves into the future or else they’re done and there’s a culture that underpins it’s not enough to have this mentality and say we want to live in day one and just go about your business as a traditional company what they’ve done the real ingenuity inside these companies is building the culture technology and process that’s allowed them to keep reinventing and that’s helped them stay on top.

  • tweeted tesla stock price high
  • elon musk today talking new
  • jeff bezos preaching day wad
  • jeff bezos preaching day
  • weeks elon definitely tweet

How Did You Get Such Access

to all of these companies like who you why why should you be the person that’s? able to peer into the most exciting biggest most innovative companies on the planet. You know that is a great question and sometimes I’ve been a bit surprised, but I will say that I’m a tech reporter here in Silicon Valley live in San Francisco So I’ve spent the last five years here and I was reporting on tech in New York before that and so I have spent a lot of time meeting with these companies in Silicon Valley and my reporting has has been out there. People people recognize it so I think there might have been a sense that this book was gonna have an impact and then one thing that I have that most tech reporters. Don’t is a background in industrial and labor relations, meaning that I’ve studied the nature of work and organizational behavior. Human Resources how companies are run how people are motivated.

And Ive Brought That With Me Here So

by having that background and then looking at the tech companies and saying I want to write a book about how they how they work and what it means for the future of the way that we work and the way we lead companies to me that must have resonated Yeah. I think so as opposed to I imagine some tech report is most armchair philosophize about how the world might be as opposed to perhaps someone like yourself who’s got more real-world experience of what actually happens within these companies what a culture like this means to the people who live it and breathe it and work it that’s right Yeah and I also worked in sales and marketing for three years before becoming a reporter. So I have an idea of how like companies that sell products work so that’s. that you know that that background helps but yeah my main philosophy as a reporter is don’t get lost in narratives. You know Don’t try to make someone look good or try to make someone look bad.

Just Tell The Truth And You Know

I think that um I think that’s that’s helped me out in my career for sure that’s awesome so high level what’s what’s the book you’ve covering different companies and looking at different yes so it’s all about how they put this always day one mentality into action inside their companies and so they’ve done this into in well actually really three ways. One is have the mentality right if you have the mentality that you’re gonna try to milk your asset your flagship business and not worry about building another business. You’re gonna be you’re gonna be screwed so they have the mentality The second. thing is they do they do? Is they view work differently than most of us do right so I think that we need a separate work.

  • bezos
  • tweet
  • twitter
  • tweets
  • elon

The Work We Do Into Two

buckets. One is ideal work that’s anything that’s involved in coming up with new ideas and bringing it to life and the other is execution work you know and that’s anything that’s involved in supporting the existing products that you have so we’ve gone through three major transfer me to major transformations but three eras in our work life Since the factory era. You know people forget the factory was only a hundred years ago that was dominating our economy hundred years ago. Human existence is much longer than 100 years.

So Weve Had Radical Transformations In The Way

that we work in just a century and our systems like our cultural systems or leadership systems are always. a little bit slow to catch up and they certainly have in this point, so let’s start with the factory in the industrial era. Almost all the work that we did was execution work there would be like one little bit of ideal work which came from like the owner of the factory right who said let’s make widgets and what do they hire employees to do all execution work just being in the factory making widgets okay then in the middle of the 1900s, we transitioned to what’s called the knowledge economy, which all of a sudden employee ideas actually mattered, but because we were so processed heavy we would have a teeny tiny bit of our time, and this is what exists in most companies now but teeny tiny bit of our time on idea work and still most of it was on execution work now we weren’t. pushing buttons and hitting levers like we were in the factory, but we were doing similar work that that it wasn’t really involved in creating anything new so that could be anything from moving numbers from one spreadsheet to another or putting the same invoice into to buy at the same product at the same amount every week or writing the same letters to the same people every week.

I Mean Anyone Whos Been In

a job knows this right and because there’s been there was so much execution work the knowledge economy our ideas really haven’t been taken into consideration by management so you know I think that anyone who’s you know people come into companies. They’re creative and they’re filled with energy and they want to change the way the company works and they see all this opportunity because all this opportunity is there and they know we. Can do this and launch this product line and we can change this process and hey we’ll have you thought about connecting these two groups and that energy usually lasts for the first six months or so until they’re told actually you know we don’t really you’re not.

Summary

Alex Kantrowitz in the building how you doing one I’m doing great really glad to be on with you.& Chris thanks for having me today.& It’s timely for me to have someone that reports on tech given that an hour ago from when we’re recording this Elon Musk just tweeted Tesla stock price is too high UK and they’re now down 11% that’s right Chris but to be honest anytime you we have recorded this podcast whether it was today a couple weeks ago or a. few weeks from now, Elon would definitely tweet something absolutely ridiculous that would send his company in some sort of tailspin. So it’s not very surprising that he tried to tank his stack about five minutes before we hopped on here, so Yvonne’s just gonna keep being Elon that’s just how he does things heal Undid an Elon that’s just how they do things heal undid an Elphandor . He says he doesn’t seem like he’s really interested in that…. Click here to read more and watch the full video