Issue #1 What Web3 Company would Jeff Bezos build
Andrew Miracle
2x startup CTO ? Head of Research Tecmie ??? Product engineering consultant ? AI, ML, Blockchain, Web3, SAAS ? prev @MESTAfrica, @Afrikathon, @Sendbox (YC)
Watching some of the early interviews of Amazon CEO Jeff Bezos, we realize that he just left his job at a huge Hedge fund to jump in on this new internet which was seeing an over 2300% surge in growth by the year.
So Jeff decided that he was going to build a company that leveraged the unique capabilities of the Internet to serve his customers, it's important to note that at that time, the Internet was just in a stage we usually call Category Formation. We've seen this before, with AI/ML trends in the past, but none as big as the current Web3 trend.
So you see that in this Scenario, Jeff wasn't planning on building something novel, he just wanted to build something that could give him an edge in how he served his customers. Most MBA folks might mention that there are various organizational strategies businesses employ to operate, grow and scale
Competitor focused
When the business strategy is derived from offering better alternatives and substitutes to competitors in their space, one company to highlight in the competitor focus area is Zoho, I could be wrong, but they've managed to build a competitor to major US Brands for Mail and Workspace (Google), Zoho Social (Hootsuite) and many more of their product offerings, offering economical substitutions and low pricing tiers.
Product Focused
This is best suited for SAAS companies, who tailor their strategy around offering their users with the best User Experience possible, businesses in this category will invest a lot in analytics, focus groups, user research etc just to understand how best to delight users who use their interfaces and ensure that success rate for the outcomes intended by customers who use their product is near 99% with a very high NPS. Typeform, Slack, Airtable etc come to mind
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Customer Focused
This category is obsessed with making sure the customer is delighted, their needs are met in the most efficient manner, it can also be similar to product focus, but in a customer focused business, the product / interface is just a driver amongst many other elements of the business, every new product offering, feature, new business line is tailored towards maximizing the most out of customers and ensuring their satisfaction, Amazon is a category leader is ruthless customer focus.
So if Jeff were to start a new company in Web3 today, what do you think he would do? what kind of strategy would he explore? Watch this interview about how he got this idea for Amazon and why he chose to sell books.
Key Questions to ask yourself
Happy to hear your thoughts.
Software Engineer
3 年Great article, Andrew. Still trying to wrap my head around what Jeff Bezos would build on web3 ??
Software Engineer @ Klim | Code alumni
3 年"Hi, I'm Jeff Bezos..."...... I was like, hell yeah! I bet you wish you were, Lol. It took me a while to reconcile Jeff's present looks with that once younger image of him. Quite an interesting brief. Talking about Jeff, I think he would explore all the offering models you've outlined, but I'd bet my 2cents that he'd stick more with something that tends to offer the maximum value to the maximum number. Assuming that my preference for the product focused model is something we share in common, Jeff would have his product hats on when he thinks about web3.0, the very same hats he had on when he founded Amazon, only that this time...the hat has now added depth in addition to length and breadth. Indeed, the next decade shows so much promise as the internet of people readies itself for an interface with the internet of things. Thank you for the brief Andrew!