‘Create a personal mission statement,’ says Faviana CEO, to find purpose in your career

It was only 13 years ago that Omid Moradi, the CEO of Faviana, told fellow entrepreneurs of his plan. And, for the past decade, he has served as CEO, helping the company expand and partner with over 1,000 global retailers. One of the ways Faviana has continued to expand was by hiring younger employees and learning from them. “Even if you’re in touch with the times, there’s still plenty to learn from the younger generation,” says Omid. “Learn how to be more creative, find out the technology they’


It was only 13 years ago that Omid Moradi, the CEO of Faviana, told fellow entrepreneurs of his plan. And, for the past decade, he has served as CEO, helping the company expand and partner with over 1,000 global retailers. One of the ways Faviana has continued to expand was by hiring younger employees and learning from them. “Even if you’re in touch with the times, there’s still plenty to learn from the younger generation,” says Omid. “Learn how to be more creative, find out the technology they’
‘Create a personal mission statement,’ says Faviana CEO, to find purpose in your career Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-25  Authors: sofia pitt, anna-louise jackson, myelle lansat
Keywords: news, cnbc, companies, faviana, personal, younger, omid, career, business, mission, youre, learn, company, ceo, purpose, create, statement, women, learning


'Create a personal mission statement,' says Faviana CEO, to find purpose in your career

Kim Kardashian and Nicky Hilton Rothschild are just two of the many celebrities who have walked the red carpet dressed in Faviana. But the label isn’t exclusively for the rich and famous. Faviana wedding and prom dresses are available at more reasonable price points — around $200 to $500 — from retailers like Bloomingdale’s and Neiman Marcus. Getting room on the rack at department stores is a relatively recent achievement for the 31-year-old company. It was only 13 years ago that Omid Moradi, the CEO of Faviana, told fellow entrepreneurs of his plan. “At least two or three people said, ‘That’s never going to happen,'” Omid recalls. One year later, he proved the critics wrong. “Defying the odds is in our company’s DNA,” says Omid. Omid’s mother, Shala, went to school in Iran to study pattern-making, despite policies that prevented many women from receiving an education. When the family fled the country after the revolution started in 1979 and moved to the U.S., they drew upon Shala’s fashion design talents. They officially founded Faviana in 1988.

Kim Kardashian attends the Golden Nymph awards ceremony during the 2008 Monte Carlo Television Festival held at Grimaldi Forum on June 12, 2008, in Monte Carlo, Principality of Monaco. (Photo by Tony Barson/WireImage) Tony Barson | WireImage | Getty Images

While working towards a bachelor’s degree in finance and international business at New York University, Omid decided to pitch in. “We came together as a family and all took a piece of the business,” he says. His part-time help over summer break quickly turned into a full-time role. And, for the past decade, he has served as CEO, helping the company expand and partner with over 1,000 global retailers. Omid shared with Grow four of his best pieces of advice for succeeding as an entrepreneur.

1. ‘Learn from the younger generation’

Omid learned to adapt quickly to new situations as a child. He was just 10 years old when his family immigrated to the U.S. and, over the next five years, the Moradis moved to five different U.S. towns before settling on Long Island. His ability to embrace change helped Omid pivot quickly as the retail industry shifted from brick-and-mortar to online sales. One of the ways Faviana has continued to expand was by hiring younger employees and learning from them. “Even if you’re in touch with the times, there’s still plenty to learn from the younger generation,” says Omid. “Learn how to be more creative, find out the technology they’re using, include them in your decisions so they’re not just learning from you — you’re learning from them.”

Faviana founders Omid, Shala, Paul, and Navid Moradi. Courtesy Faviana

Being open to new technology and hiring social-media savvy millennials has helped Faviana keep up with the times and market to younger consumers, including prom-goers. The label currently has 60,000 Instagram followers and 628,000 page likes on Facebook. Omid makes it a point to give his younger employees a seat at the table so they can observe and learn the tricks of the trade. And he says his willingness to adapt and take risks helped set him up for success: “Making decisions out of fear doesn’t serve anyone’s interest. Change isn’t something I’m afraid of. I have a strong belief everything will work out the best way possible.”

2. ‘Don’t operate with blinders on’

If you want to grow your business, keep an open mind and acknowledge when someone else has a better solution to a problem you’re trying to solve. Getting a diversity of opinions helps him see his business from a different perspective. In other words, he says, “don’t operate with blinders on.” Omid practices what he preaches, regularly attending and presenting his company’s challenges at learning events to gain insight from entrepreneurs in other industries. At one such event, Omid admitted the company was struggling with publicity and marketing. In response, someone asked why the company wasn’t investing in public relations to increase brand exposure.

Nicky Hilton Rothschild wearing Faviana. Courtesy Faviana

“That very basic idea of hiring a PR firm never even crossed my mind,” he says. “Within one year of hiring them, we were on Access Hollywood, on E! News, and on the front page of The New York Times.” Generating publicity has helped Faviana continue to grow his business by attracting celebrity clientele, dressing the likes of Teresa Giudice from “The Real Housewives of New Jersey,” Andi Dorfman from “The Bachelor,” and Ajiona Alexus, who stars in Netflix’s “13 Reasons Why.”

3. ‘If you’re just in business to make money, then what’s the point?’

“I firmly believe every person, no matter if they’re the CEO of a company or just starting their career, should envision what their life should be,” says Omid. To that end, he suggests figuring out your mission statement. “Mission statements give people clarity and a reason for existence. If you’re just in business to make money, then what’s the point? When we’re able to help by donating … or contributing to someone’s life event, [our work] becomes more meaningful,” he says. “It connects and empowers everyone.” A key part of Faviana’s mission is to help and support women. So, “not only do we sell to women, but there are women behind the scenes who are running the show,” says Shala, who is now Faviana’s creative director.

Change isn’t something I’m afraid of. I have a strong belief everything will work out the best way possible. Omid Moradi CEO of Faviana

Since another part of the company mission is to address environmental concerns in the fashion industry, a few weeks ago, leaders of the company met to discuss how they could start utilizing eco-friendly fabrics and factories for dressmaking. Eliminating drama is another core Faviana value. Omid suggests creating boundaries in your relationships and separating your personal and professional feelings. Omid and his brother, Navid, put this into practice every morning, when they commute by train from Long Island to their office in New York City. The brothers use their time on the train to catch each other up on their families and avoid shop talk. But as soon as Omid steps off the train, “he’s a different person. He’s all business,” Navid says.

4. ‘Set goals, dream big’


Company: cnbc, Activity: cnbc, Date: 2019-09-25  Authors: sofia pitt, anna-louise jackson, myelle lansat
Keywords: news, cnbc, companies, faviana, personal, younger, omid, career, business, mission, youre, learn, company, ceo, purpose, create, statement, women, learning


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Why librarians are up in arms against LinkedIn

Librarians across the country are vocalizing their frustration with LinkedIn over a new policy change to its Lynda.com learning tools, which are being rebranded as LinkedIn Learning by the end of this year. LinkedIn acquired the company for $1.5 billion in 2015 and announced plans to rebrand it as LinkedIn Learning. Patrons’ full names would be searchable on Google and LinkedIn, librarians noted. “Representatives from libraries around the country have met with LinkedIn, asking that they respect


Librarians across the country are vocalizing their frustration with LinkedIn over a new policy change to its Lynda.com learning tools, which are being rebranded as LinkedIn Learning by the end of this year. LinkedIn acquired the company for $1.5 billion in 2015 and announced plans to rebrand it as LinkedIn Learning. Patrons’ full names would be searchable on Google and LinkedIn, librarians noted. “Representatives from libraries around the country have met with LinkedIn, asking that they respect
Why librarians are up in arms against LinkedIn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: jennifer elias
Keywords: news, cnbc, companies, told, arms, learning, privacy, users, libraries, linkedin, library, profile, librarians, company


Why librarians are up in arms against LinkedIn

Company spokeswoman Andrea Roberts told CNBC that the company met with its largest library customers to validate the change before moving forward and that, so far, 67% of library customers have decided to renew their subscriptions. It also confirmed that it had no plans to change the policy and pointed to a June announcement.

The flap is the latest example of the perception gap between big tech companies and the people who use them them, as lawmakers and regulators alike scrutinize Big Tech’s growing power. Unlike other social media companies, particularly Facebook, Microsoft -owned LinkedIn has largely escaped criticism around data privacy.

Some librarians say they are ready to drop the product unless the policy changes, and they’re urging others to do the same.

Librarians across the country are vocalizing their frustration with LinkedIn over a new policy change to its Lynda.com learning tools, which are being rebranded as LinkedIn Learning by the end of this year. The update requires library patrons using the learning programs to create a LinkedIn account using their full name. Library heads told CNBC they are angry because it’s a violation of their clients’ privacy, the company has not held a serious dialogue with them.

Lynda.com offers hundreds of online courses in areas like programming, business and design. LinkedIn acquired the company for $1.5 billion in 2015 and announced plans to rebrand it as LinkedIn Learning.

In late June of this year, the company announced in a blog post that library patrons would need to sign up for a LinkedIn profile using their full name and email address in order to use it. Registration helps the company “to authenticate that users are real people and further protect our members,” wrote Mike Derezin, vice president of Learning Solutions at LinkedIn.

Since then, blogs have filled with comments from librarians berating the company’s roll-out and calling it “disturbing.” Patrons’ full names would be searchable on Google and LinkedIn, librarians noted.

It is a “violation of everything public libraries stand for,” according to California State librarian Greg Lucas, who added that other state library heads reached out to him with their concerns.

“LinkedIn is strategically taking advantage of technology novices all the while fleecing money from limited library budgets,” wrote Samantha Lee, the Intellectual Freedom Committee Chair of the Connecticut Library Association, in a June blog post. She went on to call it a “gross overstep” adding that the company “presumes to supersede a library’s authority to authenticate patrons.”

Librarians said the company told them users can toggle the privacy settings after they sign up, but that’s not good enough for them.

“Representatives from libraries around the country have met with LinkedIn, asking that they respect the privacy rights of library users,” Lucas said. “To date, LinkedIn has refused to do so, stating that the requirement to create a LinkedIn profile is a security measure to prevent fraudulent access to LinkedIn’s content.”

Erin Berman, a division director at Alameda County Library and chair of the American Library Association’s Intellectual Freedom Committee’s Privacy Subcommittee wrote “When asked why a public social media profile is the only option for authenticating users, LinkedIn told libraries that the ‘library market’ wasn’t a significant enough revenue stream to warrant creation of a custom solution.”

“These new accounts will be subject to an artificial intelligence tool that determines if a person is a real user,” Berman added.

President of the American Library Association, Wanda Kay Brown, said she and the organization are “deeply concerned” adding it “violates the librarian’s ethical obligation to keep a person’s use of library resources confidential.”

“It’s the worst privacy policy I’ve ever seen and this is the first time I’ve seen a company so dismissive,” said Jill Bourne, San Jose Library director who has lived and worked in the Silicon Valley for several years. “Their [LinkedIn’s] response has been ‘We’re listening to librarians’ and every librarian I know, myself included, is livid because they’re so not listening.'”

Bourne said she’s particularly upset by the the lack of dialogue from LinkedIn because its headquarters are based in the same region as her library and its patrons.

“Our residents are just trying to get by — the cost of living is so high that kids are having trouble succeeding, especially in our lower-income communities,” she said. “There’s a lot of people in various levels of immigration status and there’s a huge fear right now of anybody feeling that they can be tracked through any system online.”

Lucas, Brown and Bourne all said they continue to hope LinkedIn will consider changing their policies. But, as of now, they have decided to discontinue use and urged others to do the same.

They said there are other companies knocking at their doors.

“We have two or three companies saying, ‘Hey, we have an awesome online learning platform and we won’t make you do anything LinkedIn is making you do’,” Lucas said.

Bourne said she’s received alternatives as well, but acknowledged that LinkedIn’s programs have been “the best.”

LinkedIn spokeswoman Andrea Roberts responded to CNBC with the following statement:

We did meet with a number of our largest library customers to validate the change before deciding to move ahead. While some libraries have decided to not continue to work with us, so far 67% of our library customers in the US have decided to renew their subscriptions. We have also reached out to the president of the American Library Association and have not yet heard back. While this is small from a revenue perspective, it is very important for us to continue to work with libraries as their efforts and patrons are clearly aligned with our mission. Having a profile authenticates the patron. This does not impact higher ed institutions as students will access via their standard authentication systems. Profiles help us to authenticate that users are real people and help to ensure we give our members a safe, trusted environment to interact with others and learn.

WATCH NOW: How Facebook makes money


Company: cnbc, Activity: cnbc, Date: 2019-08-28  Authors: jennifer elias
Keywords: news, cnbc, companies, told, arms, learning, privacy, users, libraries, linkedin, library, profile, librarians, company


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4 key things you should do to grow your career, according to former Yum Brands CEO David Novak

However, according to former Yum Brands CEO David Novak, there are four key things you need to do to be successful. David Novak former Yum Brands CEONovak should know. He retired as CEO of Yum Brands, which he co-founded, in 2015 and as executive chairman in 2016. Former Yum Brands CEO David Novak Source: Yum! By doing that, you look beyond just your job, Novak said.


However, according to former Yum Brands CEO David Novak, there are four key things you need to do to be successful. David Novak former Yum Brands CEONovak should know. He retired as CEO of Yum Brands, which he co-founded, in 2015 and as executive chairman in 2016. Former Yum Brands CEO David Novak Source: Yum! By doing that, you look beyond just your job, Novak said.
4 key things you should do to grow your career, according to former Yum Brands CEO David Novak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: michelle fox
Keywords: news, cnbc, companies, going, david, yum, career, job, learning, things, key, business, grow, learn, according, ceo, novak, brands


4 key things you should do to grow your career, according to former Yum Brands CEO David Novak

It’s not necessarily easy to move up in the workplace. At the same time, wading through all the advice on how to do it can be just as daunting. However, according to former Yum Brands CEO David Novak, there are four key things you need to do to be successful. And the more success you achieve at work, the more you can invest in your financial future.

Be a lifelong learner and I guarantee you, you’re going to be successful. David Novak former Yum Brands CEO

Novak should know. He rose from humble beginnings and ultimately landed in the C-suite. “When I was growing up, I lived in 23 states, and the biggest house that I lived in was eight feet wide by 46-foot-long,” said Novak, now the founder and CEO of oGoLead, a digital leadership development platform. He retired as CEO of Yum Brands, which he co-founded, in 2015 and as executive chairman in 2016. In 2015, he made headlines for topping the list of Fortune 500 CEOs with the largest retirement nest eggs. It was reported to be worth $234 million at the time. During Novak’s tenure, the company, which includes KFC, Pizza Hut and Taco Bell, doubled in size to 41,000 restaurants. Prior to that he was president at both KFC and Pizza Hut and held senior management positions at Pepsi.

Former Yum Brands CEO David Novak Source: Yum! Brands

“I never had any idea that I’d end up becoming a CEO of a Fortune 500 company,” said Novak, also a CNBC contributor. “I worked hard,” he added. “I tried to learn everything that I could that could help me be better. I tried to impact the entire organization. “And guess what? I achieved things that I never thought would be possible.” He believes you can do the same. Here is Novak’s advice.

Be an avid learner

The single biggest thing you can do to grow your career is to be a “know-how junkie.” That means reading everything you can and figuring out the people you can learn from, Novak explained. “You want to be someone who wants to learn everything you can about your trade, about what really makes your business tick,” he said. It also doesn’t stop early in your career. Instead, you need to keep at it. “Be a lifelong learner and I guarantee you, you’re going to be successful,” Novak said. More from Invest in You:

Here’s the No. 1 reason why employees quit their jobs

10 remote jobs for professionals with associate’s degrees

How women can grow their careers, according to Mika Brzezinski Some of the most famous business leaders have said they are constantly learning. “Without lifetime learning, you people are not going to do very well,” Charlie Munger, billionaire and long-time business partner of Berkshire Hathaway CEO Warren Buffett, said in a 2007 commencement address. “You are not going to get very far in life based on what you already know. “If you take Berkshire Hathaway, which is certainly one of the best regarded corporations in the world and may have the best long-term investment record in the entire history of civilization, the skill that got Berkshire through one decade would not have sufficed to get it through the next decade with the achievements made,” he added. “Without Warren Buffett being a learning machine, a continuous learning machine, the record would have been absolutely impossible.”

Act like you own the place

When working for a business, think what would an owner do and act accordingly. By doing that, you look beyond just your job, Novak said. “Too many people just look at their job and say, ‘If I do my job well, people are gonna see how great I am’,” he said. “Where you really separate yourself is when you do your job and then you think like the owner, act like the owner, and contribute on the basis of helping the entire enterprise grow.” It’s something that managers look for. In fact, there are countless articles devoted to the topic of how to motivate your employees to do just that.

Love what you do

It may be a cliché, but doing what you love can actually help you climb the ladder. “When you love what you do, you can’t get enough of it,” explained Novak.

David Novak presents YUM! Recognition award to Yuan Yuan Chen, Director of Finance -Yum! China Division

“You can’t wait to go to work, you can’t wait to learn more,” he added. “And guess what? You grow. I’ve never seen anybody do well at something that they weren’t good at or that they didn’t like.” It’s something Microsoft co-founder and former CEO Bill Gates addressed in 2005 on NPR’s “All Things Considered.” “Like my friend Warren Buffett, I feel particularly lucky to do something every day that I love to do. He calls it ‘tap-dancing to work,'” said Gates, who was the tech giant’s chief software architect at the time. He assumed the role after stepping down as chief executive in 2000 and ultimately left his daily job at Microsoft in 2008. According to the CNBC/SurveyMonkey Workplace Happiness Index, released in April, most Americans are pretty happy with their jobs. The survey found 85% of respondents are either somewhat or very satisfied with their work.

Stay true to yourself


Company: cnbc, Activity: cnbc, Date: 2019-08-07  Authors: michelle fox
Keywords: news, cnbc, companies, going, david, yum, career, job, learning, things, key, business, grow, learn, according, ceo, novak, brands


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How a single mom of four switched careers to land a six-figure salary

After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. H


After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. H
How a single mom of four switched careers to land a six-figure salary Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: chloe taylor
Keywords: news, cnbc, companies, learning, switched, experience, program, single, work, salary, mom, coding, land, careers, job, didnt, career, lance, sixfigure


How a single mom of four switched careers to land a six-figure salary

After separating from her husband in June, single mom Shannon Lance found herself suddenly needing to earn enough to support four children. “I have a teaching degree but (teaching) won’t pay the bills for a family of five – it’s just not an option,” she told CNBC. “I thought about nursing, but the biggest drawback was that it required going back to school for two years to get another degree – I didn’t have two years, I have kids and bills to pay.” Despite being a self-confessed technophobe, Lance decided to learn computer coding after a suggestion from her brother-in-law, taking the plunge into an entirely new career path. Lance began her job search after completing an intensive 14-week program with Washington-based Coding Dojo. Just six days after beginning her job hunt, Lance secured a six-figure offer from travel expenses firm SAP Concur. In an interview with CNBC, she shared her tips on achieving success in a new career.

Value your ‘soft skills’

Although a career change can set you back in terms of direct industry experience, Lance urged others not to underestimate the value of basic core capabilities that appeal to employers — like strong communication or leadership skills. “I was (previously) a teacher and had a bunch of professional experience that gave me soft skills which helped land the job,” she said. “(That was) combined with having just coming out of a great program which gave me all the right tech skills.”

Be willing to learn

As well as considering how your skillset could be transferred to a new industry, Lance told CNBC that having the right attitude was a real asset when it came to landing a job with no direct experience. She said she was upfront about what she could and couldn’t do, taking the approach: “I don’t know a lot about it, but I do know a little bit – and I’m willing to learn more.” According to Lance, embracing those knowledge gaps and showcasing a desire for self-improvement could be just as valuable as experience to some employers. “For the job I got, the company was starting a new team that would be using new technology, so we’d all be learning whether they hired somebody with experience or not,” she said. “They wanted people who were capable of learning quickly and who could work and learn under pressure. Going through Coding Dojo proved I had those capabilities and that desire to keep learning.”

Work your own way

Although Lance didn’t feel intellectually limited while learning to code, she said comparing her own pace of work to others’ sometimes led to unnecessary frustration and could impact her confidence. “One challenge was the amount of time it took to get through everything. I don’t think I had trouble with the actual program, but I didn’t have any tech background, so every assignment would take me one and a half times as long as everyone else,” she told CNBC. “Some of the people in my group had played on computers since they were 12 — so the assignments only took 20 to 30 minutes for them to complete.” She said it was important to find your own way to get work done, rather than sticking to the chronological or seemingly “correct” method. Her coding program was organized into three sections, and when she initially attempted to do each assignment in order, Lance found herself falling behind. “I’d have to skip forward and go back again – that’s not a good strategy,” she said. Instead, she got through all of the reading and learning materials for each topic before attempting to complete an assignment. “Make sure you do the reading and homework way before you start struggling with (graded assignments and technical work),” she said. “And make sure you allow yourself enough time outside of class to get stuff done.” Lance also advised those considering a career change not to overestimate their own academic ability. “I was pretty good in school and didn’t have to study a lot,” she said. “I went into Coding Dojo thinking I could get it done quicker, underestimating how much time it would consume. (You have to let it) take as long as it takes.”

Seek support to switch career


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: chloe taylor
Keywords: news, cnbc, companies, learning, switched, experience, program, single, work, salary, mom, coding, land, careers, job, didnt, career, lance, sixfigure


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Here’s Jeff Bezos’ annual shareholder letter

Jeff Bezos on Thursday published Amazon’s annual shareholder letter, in which he called on rivals to match Amazon’s pay and benefits. You can read the letter in full below:To our shareowners:Something strange and remarkable has happened over the last 20 years. For example, we invented DynamoDB, a highly scalable, low latency key-value database now used by thousands of AWS customers. And customers are responding to our customer-centric wandering and listening – AWS is now a $30 billion annual run


Jeff Bezos on Thursday published Amazon’s annual shareholder letter, in which he called on rivals to match Amazon’s pay and benefits. You can read the letter in full below:To our shareowners:Something strange and remarkable has happened over the last 20 years. For example, we invented DynamoDB, a highly scalable, low latency key-value database now used by thousands of AWS customers. And customers are responding to our customer-centric wandering and listening – AWS is now a $30 billion annual run
Here’s Jeff Bezos’ annual shareholder letter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: todd haselton, alex wong, getty images news, getty images
Keywords: news, cnbc, companies, letter, way, amazon, bezos, employees, shareholder, heres, aws, wandering, learning, alexa, customers, jeff, business, sellers, annual


Here's Jeff Bezos' annual shareholder letter

Jeff Bezos on Thursday published Amazon’s annual shareholder letter, in which he called on rivals to match Amazon’s pay and benefits.

Bezos also warned that because Amazon has such a massive size and scale, shareholders can expect “multibillion-dollar failures” as the company experiments with new initiatives.

You can read the letter in full below:

To our shareowners:

Something strange and remarkable has happened over the last 20 years. Take a look at these numbers:

1999 3% 2000 3% 2001 6% 2002 17% 2003 22% 2004 25% 2005 28% 2006 28% 2007 29% 2008 30% 2009 31% 2010 34% 2011 38% 2012 42% 2013 46% 2014 49% 2015 51% 2016 54% 2017 56% 2018 58%

The percentages represent the share of physical gross merchandise sales sold on Amazon by independent third-party sellers – mostly small- and medium-sized businesses – as opposed to Amazon retail’s own first party sales. Third-party sales have grown from 3% of the total to 58%. To put it bluntly:

Third-party sellers are kicking our first party butt. Badly.

And it’s a high bar too because our first-party business has grown dramatically over that period, from $1.6 billion in 1999 to $117 billion this past year. The compound annual growth rate for our first-party business in that time period is 25%. But in that same time, third-party sales have grown from $0.1 billion to $160 billion – a compound annual growth rate of 52%. To provide an external benchmark, eBay’s gross merchandise sales in that period have grown at a compound rate of 20%, from $2.8 billion to $95 billion.

Why did independent sellers do so much better selling on Amazon than they did on eBay? And why were independent sellers able to grow so much faster than Amazon’s own highly organized first-party sales organization? There isn’t one answer, but we do know one extremely important part of the answer:

We helped independent sellers compete against our first-party business by investing in and offering them the very best selling tools we could imagine and build. There are many such tools, including tools that help sellers manage inventory, process payments, track shipments, create reports, and sell across borders – and we’re inventing more every year. But of great importance are Fulfillment by Amazon and the Prime membership program. In combination, these two programs meaningfully improved the customer experience of buying from independent sellers. With the success of these two programs now so well established, it’s difficult for most people to fully appreciate today just how radical those two offerings were at the time we launched them. We invested in both of these programs at significant financial risk and after much internal debate. We had to continue investing significantly over time as we experimented with different ideas and iterations. We could not foresee with certainty what those programs would eventually look like, let alone whether they would succeed, but they were pushed forward with intuition and heart, and nourished with optimism.

Intuition, curiosity, and the power of wandering

From very early on in Amazon’s life, we knew we wanted to create a culture of builders – people who are curious, explorers. They like to invent. Even when they’re experts, they are “fresh” with a beginner’s mind. They see the way we do things as just the way we do things now. A builder’s mentality helps us approach big, hard-to-solve opportunities with a humble conviction that success can come through iteration: invent, launch, reinvent, relaunch, start over, rinse, repeat, again and again. They know the path to success is anything but straight.

Sometimes (often actually) in business, you do know where you’re going, and when you do, you can be efficient. Put in place a plan and execute. In contrast, wandering in business is not efficient … but it’s also not random. It’s guided – by hunch, gut, intuition, curiosity, and powered by a deep conviction that the prize for customers is big enough that it’s worth being a little messy and tangential to find our way there. Wandering is an essential counter-balance to efficiency. You need to employ both. The outsized discoveries – the “non-linear” ones – are highly likely to require wandering.

AWS’s millions of customers range from startups to large enterprises, government entities to nonprofits, each looking to build better solutions for their end users. We spend a lot of time thinking about what those organizations want and what the people inside them – developers, dev managers, ops managers, CIOs, chief digital officers, chief information security officers, etc. – want.

Much of what we build at AWS is based on listening to customers. It’s critical to ask customers what they want, listen carefully to their answers, and figure out a plan to provide it thoughtfully and quickly (speed matters in business!). No business could thrive without that kind of customer obsession. But it’s also not enough. The biggest needle movers will be things that customers don’t know to ask for. We must invent on their behalf. We have to tap into our own inner imagination about what’s possible.

AWS itself – as a whole – is an example. No one asked for AWS. No one. Turns out the world was in fact ready and hungry for an offering like AWS but didn’t know it. We had a hunch, followed our curiosity, took the necessary financial risks, and began building – reworking, experimenting, and iterating countless times as we proceeded.

Within AWS, that same pattern has recurred many times. For example, we invented DynamoDB, a highly scalable, low latency key-value database now used by thousands of AWS customers. And on the listening-carefully-to-customers side, we heard loudly that companies felt constrained by their commercial database options and had been unhappy with their database providers for decades – these offerings are expensive, proprietary, have high-lock-in and punitive licensing terms. We spent several years building our own database engine, Amazon Aurora, a fully-managed MySQL and PostgreSQL-compatible service with the same or better durability and availability as the commercial engines, but at one-tenth of the cost. We were not surprised when this worked.

But we’re also optimistic about specialized databases for specialized workloads. Over the past 20 to 30 years, companies ran most of their workloads using relational databases. The broad familiarity with relational databases among developers made this technology the go-to even when it wasn’t ideal. Though sub-optimal, the data set sizes were often small enough and the acceptable query latencies long enough that you could make it work. But today, many applications are storing very large amounts of data – terabytes and petabytes. And the requirements for apps have changed. Modern applications are driving the need for low latencies, real-time processing, and the ability to process millions of requests per second. It’s not just key-value stores like DynamoDB, but also in-memory databases like Amazon ElastiCache, time series databases like Amazon Timestream, and ledger solutions like Amazon Quantum Ledger Database – the right tool for the right job saves money and gets your product to market faster.

We’re also plunging into helping companies harness Machine Learning. We’ve been working on this for a long time, and, as with other important advances, our initial attempts to externalize some of our early internal Machine Learning tools were failures. It took years of wandering – experimentation, iteration, and refinement, as well as valuable insights from our customers – to enable us to find SageMaker, which launched just 18 months ago. SageMaker removes the heavy lifting, complexity, and guesswork from each step of the machine learning process – democratizing AI. Today, thousands of customers are building machine learning models on top of AWS with SageMaker. We continue to enhance the service, including by adding new reinforcement learning capabilities. Reinforcement learning has a steep learning curve and many moving parts, which has largely put it out of reach of all but the most well-funded and technical organizations, until now. None of this would be possible without a culture of curiosity and a willingness to try totally new things on behalf of customers. And customers are responding to our customer-centric wandering and listening – AWS is now a $30 billion annual run rate business and growing fast.

Imagining the impossible

Amazon today remains a small player in global retail. We represent a low single-digit percentage of the retail market, and there are much larger retailers in every country where we operate. And that’s largely because nearly 90% of retail remains offline, in brick and mortar stores. For many years, we considered how we might serve customers in physical stores, but felt we needed first to invent something that would really delight customers in that environment. With Amazon Go, we had a clear vision. Get rid of the worst thing about physical retail: checkout lines. No one likes to wait in line. Instead, we imagined a store where you could walk in, pick up what you wanted, and leave.

Getting there was hard. Technically hard. It required the efforts of hundreds of smart, dedicated computer scientists and engineers around the world. We had to design and build our own proprietary cameras and shelves and invent new computer vision algorithms, including the ability to stitch together imagery from hundreds of cooperating cameras. And we had to do it in a way where the technology worked so well that it simply receded into the background, invisible. The reward has been the response from customers, who’ve described the experience of shopping at Amazon Go as “magical.” We now have 10 stores in Chicago, San Francisco, and Seattle, and are excited about the future.

Failure needs to scale too

As a company grows, everything needs to scale, including the size of your failed experiments. If the size of your failures isn’t growing, you’re not going to be inventing at a size that can actually move the needle. Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures. Of course, we won’t undertake such experiments cavalierly. We will work hard to make them good bets, but not all good bets will ultimately pay out. This kind of large-scale risk taking is part of the service we as a large company can provide to our customers and to society. The good news for shareowners is that a single big winning bet can more than cover the cost of many losers.

Development of the Fire phone and Echo was started around the same time. While the Fire phone was a failure, we were able to take our learnings (as well as the developers) and accelerate our efforts building Echo and Alexa. The vision for Echo and Alexa was inspired by the Star Trek computer. The idea also had origins in two other arenas where we’d been building and wandering for years: machine learning and the cloud. From Amazon’s early days, machine learning was an essential part of our product recommendations, and AWS gave us a front row seat to the capabilities of the cloud. After many years of development, Echo debuted in 2014, powered by Alexa, who lives in the AWS cloud.

No customer was asking for Echo. This was definitely us wandering. Market research doesn’t help. If you had gone to a customer in 2013 and said “Would you like a black, always-on cylinder in your kitchen about the size of a Pringles can that you can talk to and ask questions, that also turns on your lights and plays music?” I guarantee you they’d have looked at you strangely and said “No, thank you.”

Since that first-generation Echo, customers have purchased more than 100 million Alexa-enabled devices. Last year, we improved Alexa’s ability to understand requests and answer questions by more than 20%, while adding billions of facts to make Alexa more knowledgeable than ever. Developers doubled the number of Alexa skills to over 80,000, and customers spoke to Alexa tens of billions more times in 2018 compared to 2017. The number of devices with Alexa built-in more than doubled in 2018. There are now more than 150 different products available with Alexa built-in, from headphones and PCs to cars and smart home devices. Much more to come!

One last thing before closing. As I said in the first shareholder letter more than 20 years ago, our focus is on hiring and retaining versatile and talented employees who can think like owners. Achieving that requires investing in our employees, and, as with so many other things at Amazon, we use not just analysis but also intuition and heart to find our way forward.

Last year, we raised our minimum wage to $15-an-hour for all full-time, part-time, temporary, and seasonal employees across the U.S. This wage hike benefitted more than 250,000 Amazon employees, as well as over 100,000 seasonal employees who worked at Amazon sites across the country last holiday. We strongly believe that this will benefit our business as we invest in our employees. But that is not what drove the decision. We had always offered competitive wages. But we decided it was time to lead – to offer wages that went beyond competitive. We did it because it seemed like the right thing to do.

Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage. Do it! Better yet, go to $16 and throw the gauntlet back at us. It’s a kind of competition that will benefit everyone.

Many of the other programs we have introduced for our employees came as much from the heart as the head. I’ve mentioned before the Career Choice program, which pays up to 95% of tuition and fees towards a certificate or diploma in qualified fields of study, leading to in-demand careers for our associates, even if those careers take them away from Amazon. More than 16,000 employees have now taken advantage of the program, which continues to grow. Similarly, our Career Skills program trains hourly associates in critical job skills like resume writing, how to communicate effectively, and computer basics. In October of last year, in continuation of these commitments, we signed the President’s Pledge to America’s Workers and announced we will be upskilling 50,000 U.S. employees through our range of innovative training programs.

Our investments are not limited to our current employees or even to the present. To train tomorrow’s workforce, we have pledged $50 million, including through our recently announced Amazon Future Engineer program, to support STEM and CS education around the country for elementary, high school, and university students, with a particular focus on attracting more girls and minorities to these professions. We also continue to take advantage of the incredible talents of our veterans. We are well on our way to meeting our pledge to hire 25,000 veterans and military spouses by 2021. And through the Amazon Technical Veterans Apprenticeship program, we are providing veterans on-the-job training in fields like cloud computing.

A huge thank you to our customers for allowing us to serve you while always challenging us to do even better, to our shareowners for your continuing support, and to all our employees worldwide for your hard work and pioneering spirit. Teams all across Amazon are listening to customers and wandering on their behalf!

As always, I attach a copy of our original 1997 letter. It remains Day 1.

Sincerely,

Jeffrey P. Bezos

Founder and Chief Executive Officer

Amazon.com, Inc.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: todd haselton, alex wong, getty images news, getty images
Keywords: news, cnbc, companies, letter, way, amazon, bezos, employees, shareholder, heres, aws, wandering, learning, alexa, customers, jeff, business, sellers, annual


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Warren Buffett and Bill Gates say this is the best business book ever

When you stop paying attention to the evolving changes of society and human needs, you fall behind and become vulnerable to competitors. While writing the story, Brooks said a marketing manager told him it was the customers who were at fault. Never underestimate the importance of company culture and values. This is a powerful lesson for anyone — whether you’re a founder, manager, employee or job seeker. Having good company culture will likely lead to higher productivity and motivation, fewer emp


When you stop paying attention to the evolving changes of society and human needs, you fall behind and become vulnerable to competitors. While writing the story, Brooks said a marketing manager told him it was the customers who were at fault. Never underestimate the importance of company culture and values. This is a powerful lesson for anyone — whether you’re a founder, manager, employee or job seeker. Having good company culture will likely lead to higher productivity and motivation, fewer emp
Warren Buffett and Bill Gates say this is the best business book ever Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: david neagle, getty images
Keywords: news, cnbc, companies, gates, bill, manager, say, wilson, youre, book, business, marketing, job, learning, important, wouldnt, company, warren, culture, buffett, best


Warren Buffett and Bill Gates say this is the best business book ever

Here’s how to get a job at Goldman Sachs 9:32 AM ET Thu, 4 April 2019 | 04:32

Ford was dissatisfied with the poll results and ended up going its own way. Eager to create hype, it began marketing the car one year before it was even completed. And on launch day, the model was delivered with oil leaks and trunks that wouldn’t open. It was also mocked as being too expensive and using up too much gas.

When you stop paying attention to the evolving changes of society and human needs, you fall behind and become vulnerable to competitors.

2. Failure isn’t a bad thing — accept it, learn from it, and move on from it.

The big Edsel flop led to a $350 million loss. And yet, Ford’s executives took zero responsibility for their failures. In fact, they claimed to have done everything right.

While writing the story, Brooks said a marketing manager told him it was the customers who were at fault. “What they’d been buying for several years encouraged the industry to build exactly this kind of car,” the representative said. “We gave it to them, and they wouldn’t take it. Well, they shouldn’t have acted like that. And now the public wants these little beetles. I don’t get it!”

People often think, If I fail, I will lose something very important — like getting into a good college, working at (or starting) a great company, getting a promotion, making lots of money and so on. But learning from our mistakes is one of the greatest tools for learning; it gives us information on what we need to do differently to succeed in life.

3. Never underestimate the importance of company culture and values.

This is a powerful lesson for anyone — whether you’re a founder, manager, employee or job seeker.

Brooks describes Xerox founder Joseph C. Wilson as being ahead of his time in the ’60s because of how he prioritized building a compassionate work culture. He made it his duty to donate millions of dollars to charities and universities. He implemented progressive hiring policies during the civil rights movement.

“To set high goals, to have almost unattainable aspirations, to imbue people with the belief that they can be achieved…these are as important as the balance sheet, perhaps more so,” Wilson said once according to Brooks.

Today, more than ever, employees value unity and purpose in a company — and they’re not afraid to quit or reject a job offer from a company with a bad reputation. Having good company culture will likely lead to higher productivity and motivation, fewer employee health issues and less turnover.

Keep this in mind as well if you’re a job seeker. Joining a company with poor culture won’t keep you happy in the long run.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: david neagle, getty images
Keywords: news, cnbc, companies, gates, bill, manager, say, wilson, youre, book, business, marketing, job, learning, important, wouldnt, company, warren, culture, buffett, best


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Here’s Jeff Bezos’ annual shareholder letter

Jeff Bezos on Thursday published Amazon’s annual shareholder letter, in which he called on rivals to match Amazon’s pay and benefits. You can read the letter in full below:To our shareowners:Something strange and remarkable has happened over the last 20 years. For example, we invented DynamoDB, a highly scalable, low latency key-value database now used by thousands of AWS customers. And customers are responding to our customer-centric wandering and listening – AWS is now a $30 billion annual run


Jeff Bezos on Thursday published Amazon’s annual shareholder letter, in which he called on rivals to match Amazon’s pay and benefits. You can read the letter in full below:To our shareowners:Something strange and remarkable has happened over the last 20 years. For example, we invented DynamoDB, a highly scalable, low latency key-value database now used by thousands of AWS customers. And customers are responding to our customer-centric wandering and listening – AWS is now a $30 billion annual run
Here’s Jeff Bezos’ annual shareholder letter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: todd haselton, alex wong, getty images news, getty images
Keywords: news, cnbc, companies, letter, way, amazon, bezos, employees, shareholder, heres, aws, wandering, learning, alexa, customers, jeff, business, sellers, annual


Here's Jeff Bezos' annual shareholder letter

Jeff Bezos on Thursday published Amazon’s annual shareholder letter, in which he called on rivals to match Amazon’s pay and benefits.

Bezos also warned that because Amazon has such a massive size and scale, shareholders can expect “multibillion-dollar failures” as the company experiments with new initiatives.

You can read the letter in full below:

To our shareowners:

Something strange and remarkable has happened over the last 20 years. Take a look at these numbers:

1999 3% 2000 3% 2001 6% 2002 17% 2003 22% 2004 25% 2005 28% 2006 28% 2007 29% 2008 30% 2009 31% 2010 34% 2011 38% 2012 42% 2013 46% 2014 49% 2015 51% 2016 54% 2017 56% 2018 58%

The percentages represent the share of physical gross merchandise sales sold on Amazon by independent third-party sellers – mostly small- and medium-sized businesses – as opposed to Amazon retail’s own first party sales. Third-party sales have grown from 3% of the total to 58%. To put it bluntly:

Third-party sellers are kicking our first party butt. Badly.

And it’s a high bar too because our first-party business has grown dramatically over that period, from $1.6 billion in 1999 to $117 billion this past year. The compound annual growth rate for our first-party business in that time period is 25%. But in that same time, third-party sales have grown from $0.1 billion to $160 billion – a compound annual growth rate of 52%. To provide an external benchmark, eBay’s gross merchandise sales in that period have grown at a compound rate of 20%, from $2.8 billion to $95 billion.

Why did independent sellers do so much better selling on Amazon than they did on eBay? And why were independent sellers able to grow so much faster than Amazon’s own highly organized first-party sales organization? There isn’t one answer, but we do know one extremely important part of the answer:

We helped independent sellers compete against our first-party business by investing in and offering them the very best selling tools we could imagine and build. There are many such tools, including tools that help sellers manage inventory, process payments, track shipments, create reports, and sell across borders – and we’re inventing more every year. But of great importance are Fulfillment by Amazon and the Prime membership program. In combination, these two programs meaningfully improved the customer experience of buying from independent sellers. With the success of these two programs now so well established, it’s difficult for most people to fully appreciate today just how radical those two offerings were at the time we launched them. We invested in both of these programs at significant financial risk and after much internal debate. We had to continue investing significantly over time as we experimented with different ideas and iterations. We could not foresee with certainty what those programs would eventually look like, let alone whether they would succeed, but they were pushed forward with intuition and heart, and nourished with optimism.

Intuition, curiosity, and the power of wandering

From very early on in Amazon’s life, we knew we wanted to create a culture of builders – people who are curious, explorers. They like to invent. Even when they’re experts, they are “fresh” with a beginner’s mind. They see the way we do things as just the way we do things now. A builder’s mentality helps us approach big, hard-to-solve opportunities with a humble conviction that success can come through iteration: invent, launch, reinvent, relaunch, start over, rinse, repeat, again and again. They know the path to success is anything but straight.

Sometimes (often actually) in business, you do know where you’re going, and when you do, you can be efficient. Put in place a plan and execute. In contrast, wandering in business is not efficient … but it’s also not random. It’s guided – by hunch, gut, intuition, curiosity, and powered by a deep conviction that the prize for customers is big enough that it’s worth being a little messy and tangential to find our way there. Wandering is an essential counter-balance to efficiency. You need to employ both. The outsized discoveries – the “non-linear” ones – are highly likely to require wandering.

AWS’s millions of customers range from startups to large enterprises, government entities to nonprofits, each looking to build better solutions for their end users. We spend a lot of time thinking about what those organizations want and what the people inside them – developers, dev managers, ops managers, CIOs, chief digital officers, chief information security officers, etc. – want.

Much of what we build at AWS is based on listening to customers. It’s critical to ask customers what they want, listen carefully to their answers, and figure out a plan to provide it thoughtfully and quickly (speed matters in business!). No business could thrive without that kind of customer obsession. But it’s also not enough. The biggest needle movers will be things that customers don’t know to ask for. We must invent on their behalf. We have to tap into our own inner imagination about what’s possible.

AWS itself – as a whole – is an example. No one asked for AWS. No one. Turns out the world was in fact ready and hungry for an offering like AWS but didn’t know it. We had a hunch, followed our curiosity, took the necessary financial risks, and began building – reworking, experimenting, and iterating countless times as we proceeded.

Within AWS, that same pattern has recurred many times. For example, we invented DynamoDB, a highly scalable, low latency key-value database now used by thousands of AWS customers. And on the listening-carefully-to-customers side, we heard loudly that companies felt constrained by their commercial database options and had been unhappy with their database providers for decades – these offerings are expensive, proprietary, have high-lock-in and punitive licensing terms. We spent several years building our own database engine, Amazon Aurora, a fully-managed MySQL and PostgreSQL-compatible service with the same or better durability and availability as the commercial engines, but at one-tenth of the cost. We were not surprised when this worked.

But we’re also optimistic about specialized databases for specialized workloads. Over the past 20 to 30 years, companies ran most of their workloads using relational databases. The broad familiarity with relational databases among developers made this technology the go-to even when it wasn’t ideal. Though sub-optimal, the data set sizes were often small enough and the acceptable query latencies long enough that you could make it work. But today, many applications are storing very large amounts of data – terabytes and petabytes. And the requirements for apps have changed. Modern applications are driving the need for low latencies, real-time processing, and the ability to process millions of requests per second. It’s not just key-value stores like DynamoDB, but also in-memory databases like Amazon ElastiCache, time series databases like Amazon Timestream, and ledger solutions like Amazon Quantum Ledger Database – the right tool for the right job saves money and gets your product to market faster.

We’re also plunging into helping companies harness Machine Learning. We’ve been working on this for a long time, and, as with other important advances, our initial attempts to externalize some of our early internal Machine Learning tools were failures. It took years of wandering – experimentation, iteration, and refinement, as well as valuable insights from our customers – to enable us to find SageMaker, which launched just 18 months ago. SageMaker removes the heavy lifting, complexity, and guesswork from each step of the machine learning process – democratizing AI. Today, thousands of customers are building machine learning models on top of AWS with SageMaker. We continue to enhance the service, including by adding new reinforcement learning capabilities. Reinforcement learning has a steep learning curve and many moving parts, which has largely put it out of reach of all but the most well-funded and technical organizations, until now. None of this would be possible without a culture of curiosity and a willingness to try totally new things on behalf of customers. And customers are responding to our customer-centric wandering and listening – AWS is now a $30 billion annual run rate business and growing fast.

Imagining the impossible

Amazon today remains a small player in global retail. We represent a low single-digit percentage of the retail market, and there are much larger retailers in every country where we operate. And that’s largely because nearly 90% of retail remains offline, in brick and mortar stores. For many years, we considered how we might serve customers in physical stores, but felt we needed first to invent something that would really delight customers in that environment. With Amazon Go, we had a clear vision. Get rid of the worst thing about physical retail: checkout lines. No one likes to wait in line. Instead, we imagined a store where you could walk in, pick up what you wanted, and leave.

Getting there was hard. Technically hard. It required the efforts of hundreds of smart, dedicated computer scientists and engineers around the world. We had to design and build our own proprietary cameras and shelves and invent new computer vision algorithms, including the ability to stitch together imagery from hundreds of cooperating cameras. And we had to do it in a way where the technology worked so well that it simply receded into the background, invisible. The reward has been the response from customers, who’ve described the experience of shopping at Amazon Go as “magical.” We now have 10 stores in Chicago, San Francisco, and Seattle, and are excited about the future.

Failure needs to scale too

As a company grows, everything needs to scale, including the size of your failed experiments. If the size of your failures isn’t growing, you’re not going to be inventing at a size that can actually move the needle. Amazon will be experimenting at the right scale for a company of our size if we occasionally have multibillion-dollar failures. Of course, we won’t undertake such experiments cavalierly. We will work hard to make them good bets, but not all good bets will ultimately pay out. This kind of large-scale risk taking is part of the service we as a large company can provide to our customers and to society. The good news for shareowners is that a single big winning bet can more than cover the cost of many losers.

Development of the Fire phone and Echo was started around the same time. While the Fire phone was a failure, we were able to take our learnings (as well as the developers) and accelerate our efforts building Echo and Alexa. The vision for Echo and Alexa was inspired by the Star Trek computer. The idea also had origins in two other arenas where we’d been building and wandering for years: machine learning and the cloud. From Amazon’s early days, machine learning was an essential part of our product recommendations, and AWS gave us a front row seat to the capabilities of the cloud. After many years of development, Echo debuted in 2014, powered by Alexa, who lives in the AWS cloud.

No customer was asking for Echo. This was definitely us wandering. Market research doesn’t help. If you had gone to a customer in 2013 and said “Would you like a black, always-on cylinder in your kitchen about the size of a Pringles can that you can talk to and ask questions, that also turns on your lights and plays music?” I guarantee you they’d have looked at you strangely and said “No, thank you.”

Since that first-generation Echo, customers have purchased more than 100 million Alexa-enabled devices. Last year, we improved Alexa’s ability to understand requests and answer questions by more than 20%, while adding billions of facts to make Alexa more knowledgeable than ever. Developers doubled the number of Alexa skills to over 80,000, and customers spoke to Alexa tens of billions more times in 2018 compared to 2017. The number of devices with Alexa built-in more than doubled in 2018. There are now more than 150 different products available with Alexa built-in, from headphones and PCs to cars and smart home devices. Much more to come!

One last thing before closing. As I said in the first shareholder letter more than 20 years ago, our focus is on hiring and retaining versatile and talented employees who can think like owners. Achieving that requires investing in our employees, and, as with so many other things at Amazon, we use not just analysis but also intuition and heart to find our way forward.

Last year, we raised our minimum wage to $15-an-hour for all full-time, part-time, temporary, and seasonal employees across the U.S. This wage hike benefitted more than 250,000 Amazon employees, as well as over 100,000 seasonal employees who worked at Amazon sites across the country last holiday. We strongly believe that this will benefit our business as we invest in our employees. But that is not what drove the decision. We had always offered competitive wages. But we decided it was time to lead – to offer wages that went beyond competitive. We did it because it seemed like the right thing to do.

Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage. Do it! Better yet, go to $16 and throw the gauntlet back at us. It’s a kind of competition that will benefit everyone.

Many of the other programs we have introduced for our employees came as much from the heart as the head. I’ve mentioned before the Career Choice program, which pays up to 95% of tuition and fees towards a certificate or diploma in qualified fields of study, leading to in-demand careers for our associates, even if those careers take them away from Amazon. More than 16,000 employees have now taken advantage of the program, which continues to grow. Similarly, our Career Skills program trains hourly associates in critical job skills like resume writing, how to communicate effectively, and computer basics. In October of last year, in continuation of these commitments, we signed the President’s Pledge to America’s Workers and announced we will be upskilling 50,000 U.S. employees through our range of innovative training programs.

Our investments are not limited to our current employees or even to the present. To train tomorrow’s workforce, we have pledged $50 million, including through our recently announced Amazon Future Engineer program, to support STEM and CS education around the country for elementary, high school, and university students, with a particular focus on attracting more girls and minorities to these professions. We also continue to take advantage of the incredible talents of our veterans. We are well on our way to meeting our pledge to hire 25,000 veterans and military spouses by 2021. And through the Amazon Technical Veterans Apprenticeship program, we are providing veterans on-the-job training in fields like cloud computing.

A huge thank you to our customers for allowing us to serve you while always challenging us to do even better, to our shareowners for your continuing support, and to all our employees worldwide for your hard work and pioneering spirit. Teams all across Amazon are listening to customers and wandering on their behalf!

As always, I attach a copy of our original 1997 letter. It remains Day 1.

Sincerely,

Jeffrey P. Bezos

Founder and Chief Executive Officer

Amazon.com, Inc.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: todd haselton, alex wong, getty images news, getty images
Keywords: news, cnbc, companies, letter, way, amazon, bezos, employees, shareholder, heres, aws, wandering, learning, alexa, customers, jeff, business, sellers, annual


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How to win at grown-up life while you’re still learning to grow up

“While I have the things I need and am a success with my budgeting, my financial life is also a very hard struggle to balance,” Carroll said. It seemed to be in great shape, but she found out after purchasing it that it needed a new furnace. Carroll’s social life has taken a hit because of her tight work and school schedule. “There is no way that I would be able to do any of the choices I have made without them,” Carroll said. Learning the field has helped her to look at ads differently and broa


“While I have the things I need and am a success with my budgeting, my financial life is also a very hard struggle to balance,” Carroll said. It seemed to be in great shape, but she found out after purchasing it that it needed a new furnace. Carroll’s social life has taken a hit because of her tight work and school schedule. “There is no way that I would be able to do any of the choices I have made without them,” Carroll said. Learning the field has helped her to look at ads differently and broa
How to win at grown-up life while you’re still learning to grow up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: jill cornfield, source, jessica carroll, -lisa chastain, millennial money coach
Keywords: news, cnbc, companies, debt, grownup, yougot, emergency, willing, great, life, carroll, things, learning, support, grow, youre, win, financial


How to win at grown-up life while you're still learning to grow up

Jessica Carroll, 22, splits her time between college and two part-time jobs. Neither pays benefits. “While I have the things I need and am a success with my budgeting, my financial life is also a very hard struggle to balance,” Carroll said.

On a starting salary, a single emergency can wreak financial havoc. Carroll, who lives in Garrett, Indiana, bought a house for $56,000. It seemed to be in great shape, but she found out after purchasing it that it needed a new furnace. That same week, a tree fell on her car, totaling it. Together, these occurrences emptied her emergency fund.

Carroll’s social life has taken a hit because of her tight work and school schedule. “It is not easy by any means,” she said.

More from Invest in You:

Got goals? Simple actions to help get you things you want

Do this now to feel financially secure in future

Friends don’t let friends stay clueless about money

Chastain names three tasks to master in your 20s: Find your own comfort level with debt, “what are you willing and not willing to go into debt for”; understand your earning potential; and choose the right people. “It’s important to have loving relationships and people that support you,” she said.

Carroll says her parents are great role models who taught her good financial habits, as well as being generous with support and even some occasional elbow grease. “There is no way that I would be able to do any of the choices I have made without them,” Carroll said.

A certain amount of luck is helpful. A bank internship turned out to be a blessing. Carroll applied to be a teller and was offered the marketing position, which she loves. Learning the field has helped her to look at ads differently and broadened her perspective.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: jill cornfield, source, jessica carroll, -lisa chastain, millennial money coach
Keywords: news, cnbc, companies, debt, grownup, yougot, emergency, willing, great, life, carroll, things, learning, support, grow, youre, win, financial


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Boeing CEO says company is ‘humbled and learning’ from deadly Ethiopian Airlines crash

Boeing CEO Dennis Muilenburg said the aircraft maker was “humbled and learning” from an Ethiopian Airlines crash that killed 157 people earlier this month, the second fatal crash of its popular 737 Max plane in less than 5 months. “We’ve stood shoulder to shoulder in partnership with the Ethiopian team to grieve and extend our deepest sympathies to the families, friends and communities of the passengers and crew,” Muilenburg wrote in a statement released Monday. Ethiopian Airlines said on Monday


Boeing CEO Dennis Muilenburg said the aircraft maker was “humbled and learning” from an Ethiopian Airlines crash that killed 157 people earlier this month, the second fatal crash of its popular 737 Max plane in less than 5 months. “We’ve stood shoulder to shoulder in partnership with the Ethiopian team to grieve and extend our deepest sympathies to the families, friends and communities of the passengers and crew,” Muilenburg wrote in a statement released Monday. Ethiopian Airlines said on Monday
Boeing CEO says company is ‘humbled and learning’ from deadly Ethiopian Airlines crash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: emma newburger, stephen brashear, getty images
Keywords: news, cnbc, companies, boeing, airlines, max, statement, plane, shoulder, crash, learning, ceo, model, maker, humbled, muilenburg, ethiopian, company, killed, deadly


Boeing CEO says company is 'humbled and learning' from deadly Ethiopian Airlines crash

Boeing CEO Dennis Muilenburg said the aircraft maker was “humbled and learning” from an Ethiopian Airlines crash that killed 157 people earlier this month, the second fatal crash of its popular 737 Max plane in less than 5 months.

“We’ve stood shoulder to shoulder in partnership with the Ethiopian team to grieve and extend our deepest sympathies to the families, friends and communities of the passengers and crew,” Muilenburg wrote in a statement released Monday.

Ethiopian Airlines said on Monday it would maintain ties with the U.S. plane maker despite questions and an investigation into its 737 Max 8 model, which was also involved in the Lion Air crash that killed 189 people in October.

Boeing is under intense scrutiny as federal investigators look into whether the plane maker provided incomplete or misleading information about the model to U.S. air-safety regulators.

Read Muilenburg’s full statement below.


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: emma newburger, stephen brashear, getty images
Keywords: news, cnbc, companies, boeing, airlines, max, statement, plane, shoulder, crash, learning, ceo, model, maker, humbled, muilenburg, ethiopian, company, killed, deadly


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David and Claudia Harding Foundation give Cambridge University £100 million gift to support students

Other philanthropists and alumni have been known to donate large sums of money to British universities, including Bill and Melinda Gates, whose foundation donated $210 million and set up a scholarship program at Cambridge University back in 2000. The Winton Group founder graduated from Cambridge in the 1980s, with a First Class Honours degree in natural sciences that specialized in theoretical physics. David went onto establish the investment management firm in 1997, while Claudia is the Managin


Other philanthropists and alumni have been known to donate large sums of money to British universities, including Bill and Melinda Gates, whose foundation donated $210 million and set up a scholarship program at Cambridge University back in 2000. The Winton Group founder graduated from Cambridge in the 1980s, with a First Class Honours degree in natural sciences that specialized in theoretical physics. David went onto establish the investment management firm in 1997, while Claudia is the Managin
David and Claudia Harding Foundation give Cambridge University £100 million gift to support students Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: alexandra gibbs, tolga akmen, afp, getty images, courtesy, credit, university of cambridge
Keywords: news, cnbc, companies, support, gift, cambridge, david, help, students, claudia, harding, learning, million, including, university, foundation, statement


David and Claudia Harding Foundation give Cambridge University £100 million gift to support students

In a statement accompanying the announcement, Cambridge University’s Vice-Chancellor Stephen J Toope said Tuesday that the donation would be “invaluable in sustaining Cambridge’s place” among the world’s top educational institutions and help attract and support students.

“We are determined that Cambridge should nurture the finest academic talent, whatever the background or means of our students, to help us fulfil our mission ‘to contribute to society through the pursuit of education, learning and research at the highest international levels of excellence’,” he added.

David and Claudia Harding are considered “generous supporters” by the institution, with the pair having previously donated to a range of scientific and educational causes at the university, in addition to other initiatives around the U.K., including the Science Museum Group.

Other philanthropists and alumni have been known to donate large sums of money to British universities, including Bill and Melinda Gates, whose foundation donated $210 million and set up a scholarship program at Cambridge University back in 2000.

The Winton Group founder graduated from Cambridge in the 1980s, with a First Class Honours degree in natural sciences that specialized in theoretical physics. David went onto establish the investment management firm in 1997, while Claudia is the Managing Trustee of the David and Claudia Harding Foundation.

The couple said that they hoped this donation would encourage future generations of students from around the globe to study at the leading university.

“Cambridge and other British centres of learning have down the ages contributed greatly to improvements in the human condition and can continue in future to address humanity’s great challenges,” David Harding said in a statement.


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: alexandra gibbs, tolga akmen, afp, getty images, courtesy, credit, university of cambridge
Keywords: news, cnbc, companies, support, gift, cambridge, david, help, students, claudia, harding, learning, million, including, university, foundation, statement


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