Modern MBA is a series of contemporary business case studies featuring original analysis of today's most relevant companies, their strategies, and markets.
"The world is a very puzzling place. If you're not willing to be puzzled, you just become a replica of someone else's mind."
This was extremely interesting and enlightening. I appreciate the respect you gave each of these men as they worked their craft and created value and great memories for their marketplace and target customers. I feel like a lot of people would look down on these promoters, which is too bad. All I see is extremely astute businessmen who know their product, market, and niche and who go out every weekend and create real memories for the people they work with. A lot of respect for these guys working hard, and for you the content creator showing us the business of clubbing with no judgement. I never thought about the economics of a night club but they are fascinating. You have a new subscriber
Wayfair bragging about its data team..... meanwhile, here I am, an actual Wayfair customer, and all I really cared about was getting a rug in the right size last time. Maybe next time I'll get a bookshelf. Unless they are an influencer, most of us aren't doing a whole house redecoration every three months.
American’s fried chicken including kfc popeye, church doing pretty well in Vietnam. They have multiple flavors, always moist and crunchy. In america, kfc is salty without any other flavor, and always fucking soggy.
This is what I call harvesting stupid. The ONLY proper use of the signal from people saying stupid things is to disregard the stupid people and the stupid things. But no, let's take a straw poll of stupid, let's aggregate stupid, let's calculate advanced statistical moments of stupid, to see what we can conclude about this new technology is worth having. Are you people nuts? Have you lost your minds? It matters not at all whether 99% said is stupid. What matters is the 1% that isn't stupid. Okay, I have two boxes. The first box contains 1000 stupid things that people have said about generative AI. The second box contains 10 really smart things that people have said about generative AI. Which box do you choose to open? Obviously, there's more data in the first box, and how can you turn down more data? Uh, not that hard actually. You wave your magic GIGO wand and the entire contents of the first box disappears in puff of smoke. Make no mistake, all the smart money is siding with the proposition that generative AI will soon change the world. That doesn't mean that everyone and their dog will have a viable business plan tomorrow. This is an insanely disruptive development. It's not plug and play into the old way of doing business. Things that we have collectively assumed for the last 25 years are false now. As I see this, you should be making a 1% gain every week, and not bragging about a turnkey 500% gain a year from now when you fire up this exciting new machine. In case you're math challenged, 1% per week is basically Moore's law, with a doubling time of just under 1.5 years. Global economic growth is normally in the range of 2% per year. If your productivity goes up 1% per week with the new AI tools, and this continues for five months, you've made a 20% personal productivity leap. The person sitting next to you who doesn't make this gain will soon be wondering how much longer they will have their current job. But no, who is looking for 20% productivity gains in less than half a year? 900 of those comments from the stupid box promised the moon, and that clearly isn't happening, so this whole development must be Big Fake. But I do see the problem here. If your current level of cognitive function has taken you down the path of bellyaching about Big Fake, your mental acuity really _does_ need a moon shot to be competitive with those of us grinding hard on the 1% margin, day in and day out.
Was the internet a pump and dump scheme? Do you realize this video and those who have been led here to watch it is only possible using the internet, large scale compute, data analytics and even Ai in the form of advanced algorithms. With all due respect, you are the one misleading people… or you are clueless.
I used to work as a consultant and relied on data to inform my findings. The term “Big Data” simply means datasets that are larger than those which are usually found in a typical Excel file. Tools for working with large data sets have been around for decades as I was using SPSS & SAS in 2002. The tech sector just made it a buzzword like they do with everything else but the use of large data sets to provide actionable information had a big impact on companies. I know that I had a client who changed their entire advertising and communications strategy based on the insights I found in their data, and they were a Fortune 100 company. So “Big Data” wasn’t a bust. But “Big Data” can’t make a bad business a good one. Data is a tool that can be leveraged to improve on an already successful business model. It can’t BE a business model. You can have all the data in the world but if you have no idea how to properly analyze it and monetize the results, you don’t have a business. Companies that burned thru billions acquiring users and their data at a loss were never going to be successful as data in itself doesn’t create a profitable business. If your cost of customer acquisition is more than their lifetime value, your business will never succeed, which is essentially what happened to most of the companies mentioned in the video. Data can help you lower your cost of consumer acquisition, but not enough that it can turn a bad business model into a successful company. AI is similar in some ways and different in many others. Simply using AI will not make your company successful. Your company has to be addressing a need in the market to be successful. Now AI can certainly make your company more efficient and reduce labor costs, but there still needs to be a realistic business model within which the integration of AI can increase efficiency and productivity. The biggest difference is the impact AI will have when fully developed and deployed. Within 5 years, AI will make over 50 million jobs redundant in the US alone (my prediction). Any job that doesn’t require human hands will likely be gone by 2030. Receptionists, personal assistants, paralegals, low level attorneys, customer service, cashiers, order fulfillment, low level investment bankers, low level consultants, medical assistants, medical billers, low level research analysts, and anyone else whose job it is to record data, analyze data, fill out forms, assist customers or professionals, or do anything else that only requires specific knowledge will not be needed by 2030. The only jobs that will be safe are those that need a human to actually do things: electricians, plumbers, construction workers, trash collectors, surgeons, mechanics, and other jobs that both require specialized knowledge AND the ability to interact with the world around them. I don’t see the government taking this as seriously as it needs to because without UBI or some other system that provides people with the means to survive, things will get very bad, very fast. I’m projecting something like 30-40% of Americans being unemployed within 6 years. You can’t have that many people struggling to survive without the entire system collapsing. Mass unemployment has always been a catalyst for either economic collapse or revolution everywhere in the history of the world. I truly believe that we stand at the precipice of a new era in the world. With proper leadership and a focus on ensuring that people have the resources to live comfortably, this new era could bring about the most significant and positive change in how we live since humanity shifted from being nomadic hunter-gatherers to living in agriculture based societies millennia ago. However, without proper leadership, the development of systems to provide resources for people, and ethical oversight of how AI is deployed and utilized, things will get very bad. It’s ironic that so many people are worried that AI will eventually kill us all, when the far more likely scenario is that because of AI, we do it ourselves.
Let me start to say the content is interesting. However, complaining about AI being the new empty bubble (not criticizing the claim itself myself) while using it for your own video/business it is a bit antithetical, isn’t it?
You're drawing some really strange, false parallels here in this video tbh, such as the idea that big data was the "previous bubble" in the tech industry when the reality is that AI and big data are deeply intertwined. Additionally I think the comparison between AI and other failed technologies like the blockchain make little sense. Even if AI development plateaus now, AI already has tangible use cases in a way that something like the blockchain never did.
Big data is still alive and kicking. It's just that our systems handle it better, so it's been forgotten as something special. It's just data, streaming and batch, lots of it. Business as usual.
I think there are considerable opportunities for the current state of "AI" to improve and augment employee productivity. But it's not an end all be all solution to every process and industry.
All your analyses missed a key factor. UA was aimed squarely at Alpha Male muscle men - your video demonstrated this - it was an egotistical brand. If you see a skinny guy in UA gear, you know this is a jock wannabe. It appealed to a minority, and as you say, not the out-of-shape dad-bod. Slim, athletic guys can afford UA prices, but the image was my problem. I couldn't walk into my HIIT class wearing UA or be perceived as a muscle head. Look at the CEO. He can't even fit into a decent suit! Nike and Adidas also appealed to marathon runners, tennis players, golfers, and generally athletic but skinny guys, not only bulky football players. UA doesn't have universal appeal. I do HIIT, circuits, and spinning, yet I still don't own a single item from UA.
A few weeks before ChatGPT etc became a public thing, a staff member of Google raised the alarm that the AI they were working on was a real living soul who should be protected / feared. Given the last few years of AI growth and how obvious the technology is nowhere near the hype, I sometimes think about that guy. Was he a fool? Was he an actor? Was he set up? He was the guy that started the hype.
I generally really like these videos but I do have a problem with this one. The conclusion here seems to be that because F500 companies are relatively similar in terms of margin that big data and AI have basically failed. But if all F500 have basically adopted big data and AI you have no counterfactual to point to say what would have happened if they didn’t adopt these trends. What’s not captured in here is productivity which has drastically risen over the years. Especially over this time period and it’s very much due to technology and big data, data science techniques, etc. As for why some of the B2C companies or D2C companies failed, I think you’ve covered that in another video. It’s because the true cost of doing their business was subsidized by VCs, and the consumer thought these companies were cheaper or better than they actually were. Once they went public and the subsidizing ended, so too did the consumer adoption. Now, I do believe that CEOs and CTOs and VCs probably greatly exaggerated how much cost saving big data was going to bring. Or how successful they could still be without subsidies. But talk to any data scientist who built their models and I guarantee they gave a more realistic answer.
This comment sections lets me know that there will be a lot of people will be "caught off guard" because of business / jobs implementation and requirement of Ai skills. Also, this is by far the worst researched and edited video of Modern MBA youtube channel. Have a good day
The amount of people who think AI is a bandaid for all problems of corpo world makes me equally dumbfounded. Big data is also AI. Only new thing is the capabilities of LLM's, which may grow slower than you think.
I am so impressed by your editing/editing team. Yall include important headlines, clear and demonstrative graphs, and you even provide the corporate lies from their own mouths! It's very important for the audience's comprehension, to understand that they are being actively lied to. Keep up the great work! new subscriber!
Machine Learning = Big Data. The so-called AI is just the search and organizing software for the big data. In this particular iteration, it is a repackage of a bad idea versus a new bad idea. Cheers.
Big Data itself was never a hoax, nor can it be, it just is. It’s like saying “people are a hoax”. It’s nonsensical. Tech moves quickly, exponentially, that’s why it seems to come and go quickly. GPT didn’t come out of nowhere, we’d been using early versions since 2021-ish. Big data is foundational to neural networks and machine learning, themselves built upon the WWW itself. This is an odd perspective on shifting tech as if we should’ve stuck with the printing press and horse drawn carriages until the end of time
The hardware industry is also super happy about AI. If you bought a pc in the last 10 years, it likely has enough power to last the next 10 years, except for gaming and maybe video editing. Except when you need a new npu for bogus AI Feature XY. And of course they are selling a shit load of merchandise to all the cloud platforms.
I'm gonna guess this video originally had "Big Data" in its working title but like the companies it criticizes, it decided to use AI instead to get more attention.
