Whether you love or despise Amazon, you have to be in recognize of what they are doing. This company is reaching its tentacles into many different areas. This is also providing a model for Web3 to follow.
What is interesting is that few of us are even aware of all that Amazon owns. It is a company that is interconnected in ways that leverages all it does. Here is where a Web3 ecosystem like Hive should take note.
Amazon is no longer simply an online retailer. In fact, it is involved in so many different things that it could be a market leader in half a dozen different industries.
Just take a look at the infographic of what is owns.
Large Number of Services
Let us start simply by looking at the different sectors that Amazon is involved with.
- Media and entertainment
- E-commerce
- Cloud computing
- Grocery
- Logistics
- Healthcare
- Technology
- Consumer devices
- Household services
If those were simply subsidiaries, it would be an impressive list. Then we have the fact there are a multitude of entities below that.
Web3 discusses the idea of social media and entertainment. For that reason, let us focus upon that.
Here is a list of what Amazon holds there:
- MGM Holdings
- Twitch
- Audible
- GoodReads
- IMDb
- Box Office Mojo
- Prime Video
- YES Network (15% ownership)
- Echo
- Wondery
- Brilliance Publishing
- ComiXology
- Freevee
- Graphiq
- Kindle Direct Publishing
- University Esports
- Amazon Music
- Amazon Publishing
- Amazon Studios
To start, I bet a few of those companies being owned by Amazon came as a surprise. Also, notice how they are in so many different areas that domination could be in the future. While the competition such as traditional broadcasters and movie studios is huge, Amazon is pulling money in from a wide range of areas. Of course, we are only dealing with this aspect of the business, ignoring cash cows such as cloud.
This is a broadcast and entertainment empire in the making. Not only do we have the networks and production studios, look at the number of entities that are data repositories. Of course, the company is leveraging this for ever increasing revenues.
Amazon is offering a large number of services to anyone within the ecosystem. We can expect they will keep enhancing what they offer to users.
Conflict of Interest
We have discussed the idea of a conflict of interest on a number of occasions. When it comes to trust, how can we not question it when looking at this list.
MGM is now property of Amazon. This is combines with Amazon Studios. IMDB and Box Office Mojo are sites that provide information about movies and televisions shows. They also contain reviews along with user ratings. Do you see how there might be a conflict? It is in Amazon's best interest for people to be viewing the films in their portfolio. This will only enhance the value when it comes to licensing deals.
Even if there is no monkeying around with the numbers, we have a situation where independence is not part of the equation. The information people are accessing to make decisions is certainly in question.
To me, this is a grand opportunity for Web3.
We often discuss the idea of YouTube and other social media. While that is a decent mental framework, my view is Web3 should concentrate on simply duplicating parts of Amazon.
Building Amazon on Web3
Naturally, this is not a centralized entity. Nor it is something put together by a single team of people. Instead, we are dealing with a mental construct of how to proceed.
Web3 is in dire need of services. This is something that is lacking. One could make an argument that we see some in the financial arena and that could be the case. However, outside of that, we are severely lacking.
For example, where can you go for music on Web3? We know the Web 2.0 sites are really the only choice. How about video? While there are options such as 3Speak, we are still dealing with YouTube for social video.
Look at the entertainment list and bring up a comparable Web3 option. Sadly, there are none.
While infrastructure is still being constructed, this is going to be the next phase of Web3 development. Even if we isolate this particular sector, building alternatives is crucial.
Of course, if we turn the conversation to cloud and artificial intelligence, we open up another can of worms. At the core, we are dealing with the storage of data. Amazon owns their servers whereas Web3 is decentralized. Certainly, we are dealing with different capabilities but the concept is the focus.
By adopting the mindset of building "decentralized cloud", even if for text, we start the process of "thinking like Amazon". To be honest, this is how most of the major technology companies operate. They know the value of data.
We also have IPFS. This is another option that can be leveraged for this conceptual framework. Here is where the storage of video, images, and audio can occur.
The Power of Networks
What we are really discussing is the power of networks. Amazon is a networks (actually a series of them). It developed an ecosystem where it seeks to get people in and then have them utilizing more services.
The subscription model approach is very powerful. They entice more users into a monthly payment simply by offering more options under the Amazon Prime membership. It is to the point where anyone who regularly uses Amazon services is a fool not to have the subscription. The value is simply too great compared to the price.
Web3 is a bit different. At the base layer, we are dealing with the coin as the difference maker. Unlike Amazon where the majority of the users have no stake, with Web3 networks, they do. It is said that the basis of Web3 success will be the community. This is not outlandish since that is actually the key for Amazon. What separates the two is stake.
As stated in the past, we are entering a world where networks will become abundant. Presently, Amazon and a few other mega-corporations control the Internet. We have a handful of dominant networks that we all gravitate to. Web3, due to the underlying technology, is going to change this.
Here is where the Amazon model enters. We are looking to build out an ecosystem like Amazon. This is a general framework that we all can utilize.
Under this premise, it is a matter of looking at the list and filling in the blanks.
Posted Using InLeo Alpha
