Why Big Businesses Are Failing | A Gary Vaynerchuk Original

like my friends if you do not spend 2018 completely and obsessively around Facebook and Instagram you will lose Toys R Us did two things over the last couple decades that make no sense one very early in the 2000s they outsource themselves to Amazon they didn't believe in the Internet 17 years ago so to let Amazon do their fulfillment which started people getting used to buying toys on the internet through an Amazon world but most importantly they just didn't innovate you know and when you don't innovate you die like when you don't change you die the world passes you by it's the best example right now of like how in trouble everybody is if they [ __ ] rest on their laurels you know if Toys R Us the dominant Miche retail leader of a humongous multi-billion dollar category is finished what do you think is gonna happen over the next six years this is a calm before the social media storm this is mm all over again the internet came out it had a lot of hype the market crashed people couldn't see returns and people left it borders didn't believe in it they gave Amazon the infrastructure there at a business Blockbuster didn't believe in it they let Netflix come in and put them out of business social media has had a lot of hype the last two years the next three are gonna be soft because people are not gonna figure out the ROI and that people can be put out of business and huge businesses are gonna blow up and explode and take over in 2013 14 15 Wow yeah that's what's happening we have a room of professionals in this room who say well my customers not on Facebook or Instagram maybe they're on LinkedIn that is the exact same rationale that Netflix put blockbuster out of business with Blockbuster Santa room and they said our data shows that people like going to our stores by the way are you really ready to laugh here's what the report actually said they liked the experience of going to our stores because they like the ability to open and close and read the back of the DVD cases gets better they enjoy the serendipity of possibly running into their neighbor this is what the report you know by the way that's my favorite part about reports and data when you have an agenda you can make a report do anything you want thank you and then finally they really like picking up popcorn on the way out I don't know about you guys but here is the experience I like laying naked in my bed and pressing one [ __ ] button like social time at the store really like that's not gonna play out like it's just there's you'll find other things to do there's not going to be a single convenience store in America 20 years like 7-elevens out of business you're not gonna go there you're just not you're gonna get everything within an hour everything on demand ad hoc at the lowest possible cost you will not believe it we hold the past on a pedestal and we demonize the future but that's just not how it works and this internet thing you're sleeping on it it's bigger than you think this is it this is the television and radio of our society the internet has won there is no debate you may not like it doesn't matter what you think guys ABC and CBS at ESPN are out of business it's already over 80 billion dollars you can sit because I got a rack Bob 80 billion dollars in television commercials and nobody [ __ ] watches them over the next three or four to five years the biggest companies in the world are gonna understand that money is gonna go into the [ __ ] that I just told you about that's gonna mean the ads that you're gonna run are gonna go from $4 to $80 and you're not gonna be able to compete with coca-cola and BMW so please heed what I told you take your romance or your subjective point of view or you being romantic about how the world used to be and shove that [ __ ] in the garbage and get the [ __ ] work one life do something about it