![]() It’s vital to look at what a company's moat is so if it gets acquired by Amazon, it doesn’t get the Amazon Basics treatment. There are thousands of businesses, and your money is limited. A daily deals site like Woot wasn’t revolutionary, but it had a formula that worked and scaled it. If you’re doing the exact same thing as everyone else, but what you’re doing is working, people want to know why. It could be people, culture, data or a strong community. When building a startup or business, it’s vital to create something nobody else has and make it difficult to replicate. This cryptic message might not seem like much at first, but there is an important embedded lesson. When I look at the menu, you're the thing I don't understand, the thing I've never had. At first, this wasn’t a talking point, but when Rutledge asked Bezos why he decided to acquire Woot, that changed.Īfter a brief pause, Bezos reportedly said, "You're the octopus that I'm having for breakfast. But when Bezos invited Woot Founder Matt Rutledge to spend the day with him - including breakfast - something bizarre happened.īezos, founder and then-CEO of Amazon, ordered something different than what most would expect for breakfast: octopus. ![]() (NASDAQ: AMZN) was continuing to ramp up and acquired a company called for over $100 million. But Bezos may have one of the most bizarre. Whether it’s billionaires Warren Buffett, Bill Gates or Jeff Bezos, everyone has their own investing and business-building ideologies.
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