25 November 2016

Scott Galloway: Wall Street is Wrong About Google and Amazon

Scott Galloway: Wall Street is Wrong About Google and Amazon:

NYU Stern Marketing Professor Scott Galloway presents the week's biggest winners and losers in digital:

Loser: Wall Street analysts, who missed the point on both Google's revenue-per-click news and Amazon's earnings call.

Winner: Workers in the gig economy. A UK ruling considers Uber drivers employees, rather than contractors.

Video above published November 17, 2016, by L2inc.com.

YouTube auto-generated transcript:
0:02 A loser, again: Wall Street analysts, who missed the point on Google's 11% year-on-year decline on revenue per click.
0:09 Analysts are focusing on the fact that search-based ads have a lower value on mobile then on desktop.
0:14 However, what they missed is that Google managed to drop the price of its ads without losing revenue.
0:20 Peter Drucker, the father of modern management, summed it up as "Do not worship at the altar of high margins."
0:25 What does that mean?
0:26 It means any company that wants to compete with Google has to do so now recognizing that Google gets bigger and bigger and keeps lowering their prices.
0:34 A winner: Amazon.
0:35 What did every analyst miss in their over-reaction to Amazon's earnings call?
0:40 When Amazon announces a loss, it means they are winning.
0:44 What happened in Q2 when they announced record earnings?
0:46 That means someone at Amazon f*d up, and they fixed it.
0:50 The Seattle firm has trained investors to replace profits with vision and growth,
0:55 and as a result has an unassailable advantage.
0:59 In 2018, they will become the first trillion dollar market cap company.
1:04 A winner: workers in the gig economy.
1:07 Last week a UK tribunal -
1:08 tribunal is a really f*ing scary word -
1:10 but anyways, a UK tribunal ruled in favor of Uber drivers being regarded as employees versus contractors.
1:17 That makes Uber drivers eligible for benefits and entitled to the national minimum wage.
1:22 We as a society have decided there are going to be winners and losers.
1:26 We've opted for consumers as number one, shareholders a close number two and workers a distant third.
1:31 Sorry about that.
1:33 Where does that leave society?
1:35 With a lot of people at home during the workday who sit on a really nice couch with a very powerful phone and an enormous screen.
1:41 Gee, that sounds like fun.
1:43 Winners: the team here at L2 marking our 100th episode, and the dozens and dozens of fans we have built out here.
1:52 This week does in fact mark our 100th episode.
1:54 Here's a look at the most frequently named winners and losers.
1:57 The list illustrates where we think the digital economy is headed, led by companies that deftly use technology to refine their product with every user interaction.
2:05 The losers? Those with their heads stuck in the sand, who still pay for audiences and are not nimble enough to evolve.
2:11 Our best joke in two years? Here are our candidates …


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