Layoffs are here. The sky is falling! A few large Amazon businesses in the last two weeks have had significant layoffs. Some of them public, and more of them private. Well, there's one less private one. As I'm scaling down my business BuyBoxer, we laid off 35 people. These were all warehouse workers, the lifeblood of our reselling business. We had planned this months ago, but by coincidence it happened now.
And worse..... Amazon also wiped $200b from their market cap.
Is this a problem for you? Is Amazon stock prices falling going to affect your business?
No. Not in the least.
The only problem is if you raised money on an expectation and a promise. For everyone else, the time is still as good as ever. Shopify, Amazon's biggest threat, is also feeling the crunch of impossible e-commerce expectations.
Two years after the most e-commerce friendly world event ever, Amazon e-commerce is still bigger.
Let that sink in.
Amazon is still bigger. Marketplace revenue is up 5% Year over Year. The pinball machine of money is still here. Just don't promise investors that you can bring back a few billion in return.
Thrasio is going to be fine. Sure they grew fast, (maybe too fast with 6 employees per acquisition) but with 200 acquisitions under their belt they have some amazing assets that others would kill for. Here's a SmartScout chart of estimate sales on their publicly disclosed owned brands. We are showing 15 brands estimate revenue across the last 24 months. I plan on diving into Perch a bit more next week.
Any entrepreneur will have failures. But downsides have upsides. Wait a few months, look back and you'll see it. My personal taxes are a roller coaster that has made my wife a little shaky in her confidence in me. That experience is why when I say words like "risk" it feels a little different.
Don't worry about me. In the four months this year, SmartScout has grown 700 new subscribers. Our next feature(s) that we just put to beta this morning will become an industry standard.
You heard me.
One day your VAs will be bragging about how they're SmartScout trained and certified. We're just getting started.