E Commerce Quotes

At Mayflower-Plymouth, we are excited to invest in the evolution of a lot of different industries from IP to E-commerce to Transportation to Real Estate and more. But in every case, the goal is to add value and make things better. We are an investment company with soul and with purpose.

If we want to survive this economic collapse, new mandatory school subjects should be eCommerce, Chinese, spirituality and aesthetics.

Let us take you into a deeper experience, make a moment a lasting conveyable memory. Let us help build your tribe.

In October 2014, Alibaba Group Holding Ltd. went public on the New York Stock Exchange (NYSE) and raised $25 billion, marking it as the largest IPO in history. Alibaba is also one of the largest e-commerce platforms in the world.

New York is the concentrate of art and commerce and sport and religion and entertainment and finance, bringing to a single compact arena the gladiator, the evangelist, the promoter, the actor, the trader and the merchant. No one should come to New York to live unless he is willing to be lucky.

In a world where consumers had limited choice, you needed to compete for locations,” says Ross, who went on to cofound eCommera, a British e-commerce advisory firm. “But in a world where consumers have unlimited choice, you need to compete for attention. And this requires something more than selling other people’s products.

This was the beginning of surveillance capitalism, and the end of the Internet as I knew it. Now, it was the creative Web that collapsed, as countless beautiful, difficult, individualistic websites were shuttered. The promise of convenience led people to exchange their personal sites—which demanded constant and laborious upkeep—for a Facebook page and a Gmail account. The appearance of ownership was easy to mistake for the reality of it. Few of us understood it at the time, but none of the things that we’d go on to share would belong to us anymore. The successors to the e-commerce companies that had failed because they couldn’t find anything we were interested in buying now had a new product to sell. That new product was Us.

The ICC [Interstate Commerce Commission] illustrates what might be called the natural history of government intervention. A real or fancied evil leads to demands to do something about it. A political coalition forms consisting of sincere, high-minded reformers and equally sincere interested parties. The incompatible objectives of the members of the coalition (e.g., low prices to consumers and high prices to producers) are glossed over by fine rhetoric about “the public interest,” “fair competition,” and the like. The coalition succeeds in getting Congress (or a state legislature) to pass a law. The preamble to the law pays lip service to the rhetoric and the body of the law grants power to government officials to “do something.” The high-minded reformers experience a glow of triumph and turn their attention to new causes. The interested parties go to work to make sure that the power is used for their benefit. They generally succeed. Success breeds its problems, which are met by broadening the scope of intervention. Bureaucracy takes its toll so that even the initial special interests no longer benefit. In the end the effects are precisely the opposite of the objectives of the reformers and generally do not even achieve the objectives of the special interests. Yet the activity is so firmly established and so many vested interests are connected with it that repeal of the initial legislation is nearly inconceivable. Instead, new government legislation is called for to cope with the problems produced by the earlier legislation and a new cycle begins.

Remember that high school boy in Omaha who got 30 million for his cross-media-e-commerce-integration-thingamajig? It was plastered all over the news and on CNN. We could have come up with that, we all agreed, but we were too busy living our lives for such things. So now he’s richer than Midas, and we’re reading about his fortune in the Huffington Post and thinking he should spend some of it on zit cream.

France is fighting for ‘La Patrie’; England is fighting for commerce; Italy is fighting to get a slice of Austria, and America is fighting for souvenirs.

Une des plus grandes niaiseries du commerce parisien est de vouloir trouver le succès dans les analogues, quand il est dans les contraires A

E-Commerce is where shoppers are the loneliest.

e-Commerce makes it easy to spend money. Netiquette makes you aware hidden fees. NetworkEtiquette.net

Great merchants have never had the opportunity to understand their customers in a truly individualized way,” he said. “E-commerce is going to make that possible.”13

you’re good enough, you’re smart enough…and doggone it, people like you.

If you can't measure it, you can't improve it" - Peter Drucker

In his book, Jüdisches Erwerbsleben, Georg Ratzinger, Pope Benedict XVI’s great uncle, wrote: “Jewish commerce can be characterized by two manifestations: 1) it is based on the exploitation of the work of others without any productive activity of its own and 2) it is characterized by gambling and speculation on the differential in values as the way to achieve riches.

The true theory of our constitution is surely the wisest & best, that the states are independent as to everything within themselves, & united as to everything respecting foreign nations. Let the general government be reduced to foreign concerns only, and let our affairs be disentangled from those of all other nations, except as to commerce, which the merchants will manage the better, the more they are left free to manage for themselves, and our general government may be reduced to a very simple organization, & a very unexpensive one; a few plain duties to be performed by a few servants….

Sometimes money finds its own expression,” Jake said. “Like water flowing through a canyon, only the walls are laws and regulations. It follows the path of least resistance and leaves the landscape altered behind it.

The peace of the country was entering into her. It has no commerce with memory, and little with hope. Least of all is it concerned with the hopes of the next five minutes. It is the peace of the present, which passes understanding. Its murmur came "now," and "now" once more as they trod the gravel, and "now," as the moonlight fell upon their father's sword. They passed upstairs, kissed, and, and amidst the endless iterations fell asleep.

Google prefers a site that’s dynamic and frequently updated.  This doesn’t mean that every page needs to change every day, but the addition and modification of content on the pages can enhance the experience for your customers and the search engines.

The origin of the caste system, formulated by the great legislator Manu, was admirable. He saw clearly that men are distinguished by natural evolution into four great classes: those capable of offering service to society through their bodily labor (Sudras); those who serve through mentality, skill, agriculture, trade, commerce, business life in general (Vaisyas); those whose talents are administrative, executive, and protective-rulers and warriors (Kshatriyas); those of contemplative nature, spiritually inspired and inspiring (Brahmins). “Neither birth nor sacraments nor study nor ancestry can decide whether a person is twice-born (i.e., a Brahmin);” the Mahabharata declares, “character and conduct only can decide.” 281 Manu instructed society to show respect to its members insofar as they possessed wisdom, virtue, age, kinship or, lastly, wealth. Riches in Vedic India were always despised if they were hoarded or unavailable for charitable purposes. Ungenerous men of great wealth were assigned a low rank in society. Serious evils arose when the caste system became hardened through the centuries into a hereditary halter. Social reformers like Gandhi and the members of very numerous societies in India today are making slow but sure progress in restoring the ancient values of caste, based solely on natural qualification and not on birth. Every nation on earth has its own distinctive misery-producing karma to deal with and remove; India, too, with her versatile and invulnerable spirit, shall prove herself equal to the task of caste-reformation.

Every business needs capital. Whether we’re talking about a barbershop or a bank, a boutique e-commerce store or a hotdog stand. Whether we’re talking about a restaurant or a clothing store, a giant like Walmart, or the local bodega that’s owned by a local family. They all need capital.

As Peter Drucker said, “In a few hundred years, when the history of our time will be written from a long-term perspective, it is likely that the most important event historians will see is not technology, not the Internet, not e-commerce. It is an unprecedented change in the human condition.

We are not an e-commerce company, although we have the largest e-commerce business in the world. We’re not eBay. We do not buy and sell. We help people become an e-commerce company. We enable other companies to do e-commerce. This is the difference between us and Amazon. We believe every company should be an Amazon.

The technology has proven so valuable that SpaceX’s competitors have started to copy it and have tried to poach some of the company’s experts in the field. Blue Origin, Jeff Bezos’s secretive rocket company, has been particularly aggressive, hiring away Ray Miryekta, one of the world’s foremost friction stir welding experts and igniting a major rift with Musk. “Blue Origin does these surgical strikes on specialized talent* offering like double their salaries. I think it’s unnecessary and a bit rude,” Musk said. Within SpaceX, Blue Origin is mockingly referred to as BO and at one point the company created an e-mail filter to detect messages with “blue” and “origin” to block the poaching. The relationship between Musk and Bezos has soured, and they no longer chat about their shared ambition of getting to Mars. “I do think Bezos has an insatiable desire to be King Bezos,” Musk said. “He has a relentless work ethic and wants to kill everything in e-commerce. But he’s not the most fun guy, honestly.

Unlike IR #2, the digital revolution IR #3 had a less powerful overall effect on productivity growth, and the main effect of its inventions occurred in the relatively short interval of 1996 to 2004, when the invention of the Internet, web browsers, search engines, and e-commerce created a fundamental change in business practices and procedures that was reflected in a temporary revival of productivity growth.

this change has been a conscious choice, the result of a systematic effort on the part of a privileged few. The early rush to turn commerce into e-commerce quickly led to a bubble, and then, just after the turn of the millennium, to a collapse. After that, companies realized that people who went online were far less interested in spending than in sharing, and that the human connection the Internet made possible could be monetized. If most of what people wanted to do online was to be able to tell their family, friends, and strangers what they were up to, and to be told what their family, friends, and strangers were up to in return, then all companies had to do was figure out how to put themselves in the middle of those social exchanges and turn them into profit. This was the beginning of surveillance capitalism, and the end of the Internet as I knew it.

During the globalization wave, Amazon had lost the battle for e-commerce to Ebay, the battle for digital media to Apple, and the battle for technology innovation to Google. Bezos was hungry to re-invent Amazon over a decade after it was founded. The two masterstrokes of Bezos that created new revenue streams by renting out Amazon’s infrastructure – Amazon Prime and Amazon Web Services (AWS) – were at the time, shots in the dark. They would end up turning things around.

One of the strangest controversies in the history of Orientalism turned upon the “origin of bhakti”, as if devotion had at some given moment been a new idea and thenceforth a fashionable one. It would have been simpler to observe that the word bhakti means primarily a given share, and therefore also the devotion or love that all liberality presupposes; and so that inasmuch as one “gives God his share” (bhagam), i.e. sacrifces, one is his bhakta. Thus in the hymn, “If thou givest me my share” amounts to saying “If thou lovest me”. It has often been pointed out that the Sacrifice was thought of as a commerce between Gods and men: but not often realised that by introducing into traditional conceptions of trade notions derived from our own internecine commercial transactions, we have falsified our understanding of the original sense of such a commerce, which was actually more of the potlatsh type, a competition in giving, than like our competitions in taking.

As Peter Drucker said, “In a few hundred years, when the history of our time will be written from a long-term perspective, it is likely that the most important event historians will see is not technology, not the Internet, not e-commerce. It is an unprecedented change in the human condition. For the first time – literally – substantial and rapidly growing numbers of people have choices. For the first time, they will have to manage themselves. And society is totally unprepared for it.”4

Sons of ditch-diggers aspired to be bastard sons of kings and thieving aristocrats rather than of rough handed children of dirt and toil. The immense profit from this new exploitation and world-wide commerce enabled a guild of millionaires to engage the greatest engineers, the wisest men of science, as well as pay high wage to the more intelligent labor and at the same time to have left enough surplus to make more and thorough the dictatorship of capital over the state and over the popular vote, not only in Europe and America, but in Asia and Africa. The world wept because within the exploiting group of New World masters, greed and jealousy became so fierce that they fought for trade and markets and materials and slaves all over the world until at last in 1914 the world flamed in war. The fantastic structure fell, leaving grotesque profits and poverty plenty and starvation empire and democracy staring at each other across world depression. And the rebuilding, whether it comes now or a century later, will and must go back to the basic principles of reconstruction in the United States during 1867-1876--Land light and leading for slaves black brown yellow and white...

To bring under the sway of Christianity savage nations who do not attack us and whom we have therefore no excuse for oppressing, we ought before all things to leave them in peace, and in case we need or wish to enter into closer relations with them, we ought only to influence them by Christian manners and Christian teaching, setting them the example of the Christian virtues of patience, meekness, endurance, purity, brotherhood, and love. Instead of that we begin by establishing among them new markets for our commerce, with the sole aim of our own profit; then we appropriate their lands, i. e., rob them; then we sell them spirits, tobacco, and opium, i. e., corrupt them; then we establish our morals among them, teach them the use of violence and new methods of destruction, i, e., we teach them nothing but the animal law of strife, below which man cannot sink, and we do all we can to conceal from them all that is Christian in us. After this we send some dozens of missionaries prating to them of the hypocritical absurdities of the Church, and then quote the failure of our efforts to turn the heathen to Christianity as an incontrovertible proof of the impossibility of applying the truths of Christianity in practical life.

Recent estimates have Chinese companies outstripping U.S. competitors ten to one in quantity of food deliveries and fifty to one in spending on mobile payments. China’s e-commerce purchases are roughly double the U.S. totals, and the gap is only growing. Data on total trips through ride-hailing apps is somewhat scarce, but during the height of competition between Uber and Didi, self-reported numbers from the two companies had Didi’s rides in China at four times the total of Uber’s global rides. When it comes to rides on shared bikes, China is outpacing the United States at an astounding ratio of three hundred to one.

Every year or so I like to take a step back and look at a few key advertising, marketing, and media facts just to gauge how far removed from reality we advertising experts have gotten. These data represent the latest numbers I could find. I have listed the sources below. So here we go -- 10 facts, direct from the real world: E-commerce in 2014 accounted for 6.5 percent of total retail sales. 96% of video viewing is currently done on a television. 4% is done on a web device. In Europe and the US, people would not care if 92% of brands disappeared. The rate of engagement among a brand's fans with a Facebook post is 7 in 10,000. For Twitter it is 3 in 10,000. Fewer than one standard banner ad in a thousand is clicked on. Over half the display ads paid for by marketers are unviewable. Less than 1% of retail buying is done on a mobile device. Only 44% of traffic on the web is human. One bot-net can generate 1 billion fraudulent digital ad impressions a day. Half of all U.S online advertising - $10 billion a year - may be lost to fraud. As regular readers know, one of our favorite sayings around The Ad Contrarian Social Club is a quote from Noble Prize winning physicist Richard Feynman, who wonderfully declared that “Science is the belief in the ignorance of experts.” I think these facts do a pretty good job of vindicating Feynman.

The trend toward the ownership of land by fewer and fewer individuals is, it seems to me, a disastrous thing. For when too large a proportion of the populace is supporting itself by the indirections of trade and business and commerce and art and the million schemes of men in cities, then the complexity of society is likely to become so great as to destroy its equilibrium, and it will always be out of balance in some way. But if a considerable portion of the people are occupied wholly or partially in labors that directly supply them with many things that they want, or think they want, whether it be a sweet pea or a sour pickle, then the public poise will be a good deal harder to upset.

But it must be observed that as the depreciation of money proceeds, the demand for money (i.e. for the kind of money in question) gradually begins to fall. When loss of wealth is suffered in proportion to the length of time money is kept on hand, endeavours are made to reduce cash holdings as much as possible. N ow if every individual, even if his circumstances are otherwise unchanged, no longer wishes to maintain his cash holding at the same level as before the beginning of the inflation, the demand for money in the whole community, which can only be the sum of the individuals' demands, decreases too. There is also the additional fact that as commerce gradually-begins to use foreign money and actual gold in place of notes, individuals begin to hold part of their reserves in foreign money and in gold and no longer in notes.

He was in love with France before he even reached Paris. Jefferson’s work in Europe offered him a new battlefield in the war for American union and national authority that he had begun in the Congress. His sojourn in France is often seen as a revolutionary swoon during which he fell too hard for the foes of monarchy, growing overly attached to—and unhealthily admiring of—the French Revolution and its excesses. Some of his most enduring radical quotations, usually considered on their own with less appreciation of the larger context of Jefferson’s decades-long political, diplomatic, and philosophical careers, date from this era. His relationship to France and to the French, however, should be seen for what it was: a political undertaking in which Jefferson put the interests of America first. He was determined to create a balance of global power in which France would help the United States resist commercial and possible military threats from the British.5 From the ancien régime of Louis XVI and Marie-Antoinette to the French Revolution to the Age of Napoleon, Jefferson viewed France in the context of how it could help America on the world stage.6 Much of Jefferson’s energy was spent striving to create international respect for the United States and to negotiate commercial treaties to build and expand American commerce and wealth. His mind wandered and roamed and soared, but in his main work—the advancement of America’s security and economic interests—he was focused and clear-headed. Countries earned respect by appearing strong and unified. Jefferson wanted America to be respected. He, therefore, took care to project strength and a sense of unity. The cause of national power required it, and he was as devoted to the marshaling of American power in Paris as he had been in Annapolis. E

MAKING MARKETS SAFE is one of the oldest problems of market design, going back to well before the invention of agriculture, when hunters traded the ax heads and arrowheads that archaeologists today find thousands of miles from where they were made. More recently, one of the responsibilities of kings in medieval Europe was to provide safe passage to and from markets and fairs. For healthy commerce, buyers and sellers needed to be able to participate in these markets safely, without being waylaid and robbed (or worse) by highwaymen. Indeed, the word waylay captures the act of robbing travelers carrying money or valuables on their way to or from a market. Without some assurance of safe passage, these markets would have failed; they would have been too risky to attract many participants. And if the markets had failed, the kingdoms would have been deprived of the prosperity that markets, and the taxes on them, bring.

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The sums of money collected in hoards lie there idle, waiting for the moment when commerce needs them for maintaining the stability of the objective exchange-value of money; and all those sums of money, that might threaten this stability when the demand for money decreases, flow back out of circulation into these hoards to slumber quietly until they are called forth again. This tacitly assumes ll the fundamental correctness of the arguments of the Quantity Theory, but asserts that there is nevertheless a principle inherent in the economic system that always prevents the working out of the processes that the Quantity Theory describes. In the first place, it must be recognized that from the economic point of view there is no such thing as money lying idle. All money, whether in reserves or literally in circulation (i.e. in process of changing hands at the very moment under consideration), is devoted in exactly the same way to the performance of a monetary function. The stock of money of the community is the sum of the stocks of individuals; there is no such thing as errant money.

Some of these bots are already arriving in 2021 in more primitive forms. Recently, when I was in quarantine at home in Beijing, all of my e-commerce packages and food were delivered by a robot in my apartment complex. The package would be placed on a sturdy, wheeled creature resembling R2-D2. It could wirelessly summon the elevator, navigate autonomously to my door, and then call my phone to announce its arrival, so I could take the package, after which it would return to reception. Fully autonomous door-to-door delivery vans are also being tested in Silicon Valley. By 2041, end-to-end delivery should be pervasive, with autonomous forklifts moving items in the warehouse, drones and autonomous vehicles delivering the boxes to the apartment complex, and the R2-D2 bot delivering the package to each home. Similarly, some restaurants now use robotic waiters to reduce human contact. These are not humanoid robots, but autonomous trays-on-wheels that deliver your order to your table. Robot servers today are both gimmicks and safety measures, but tomorrow they may be a normal part of table service for many restaurants, apart from the highest-end establishments or places that cater to tourists, where the human service is integral to the restaurant’s charm. Robots can be used in hotels (to clean and to deliver laundry, suitcases, and room service), offices (as receptionists, guards, and cleaning staff), stores (to clean floors and organize shelves), and information outlets (to answer questions and give directions at airports, hotels, and offices). In-home robots will go beyond the Roomba. Robots can wash dishes (not like a dishwasher, but as an autonomous machine in which you can pile all the greasy pots, utensils, and plates without removing leftover food, with all of them emerging cleaned, disinfected, dried, and organized). Robots can cook—not like a humanoid chef, but like an automated food processor connected to a self-cooking pot. Ingredients go in and the cooked dish comes out. All of these technology components exist now—and will be fine-tuned and integrated in the decade to come. So be patient. Wait for robotics to be perfected and for costs to go down. The commercial and subsequently personal applications will follow. By 2041, it’s not far-fetched to say that you may be living a lot more like the Jetsons!

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a young Goldman Sachs banker named Joseph Park was sitting in his apartment, frustrated at the effort required to get access to entertainment. Why should he trek all the way to Blockbuster to rent a movie? He should just be able to open a website, pick out a movie, and have it delivered to his door. Despite raising around $250 million, Kozmo, the company Park founded, went bankrupt in 2001. His biggest mistake was making a brash promise for one-hour delivery of virtually anything, and investing in building national operations to support growth that never happened. One study of over three thousand startups indicates that roughly three out of every four fail because of premature scaling—making investments that the market isn’t yet ready to support. Had Park proceeded more slowly, he might have noticed that with the current technology available, one-hour delivery was an impractical and low-margin business. There was, however, a tremendous demand for online movie rentals. Netflix was just then getting off the ground, and Kozmo might have been able to compete in the area of mail-order rentals and then online movie streaming. Later, he might have been able to capitalize on technological changes that made it possible for Instacart to build a logistics operation that made one-hour grocery delivery scalable and profitable. Since the market is more defined when settlers enter, they can focus on providing superior quality instead of deliberating about what to offer in the first place. “Wouldn’t you rather be second or third and see how the guy in first did, and then . . . improve it?” Malcolm Gladwell asked in an interview. “When ideas get really complicated, and when the world gets complicated, it’s foolish to think the person who’s first can work it all out,” Gladwell remarked. “Most good things, it takes a long time to figure them out.”* Second, there’s reason to believe that the kinds of people who choose to be late movers may be better suited to succeed. Risk seekers are drawn to being first, and they’re prone to making impulsive decisions. Meanwhile, more risk-averse entrepreneurs watch from the sidelines, waiting for the right opportunity and balancing their risk portfolios before entering. In a study of software startups, strategy researchers Elizabeth Pontikes and William Barnett find that when entrepreneurs rush to follow the crowd into hyped markets, their startups are less likely to survive and grow. When entrepreneurs wait for the market to cool down, they have higher odds of success: “Nonconformists . . . that buck the trend are most likely to stay in the market, receive funding, and ultimately go public.” Third, along with being less recklessly ambitious, settlers can improve upon competitors’ technology to make products better. When you’re the first to market, you have to make all the mistakes yourself. Meanwhile, settlers can watch and learn from your errors. “Moving first is a tactic, not a goal,” Peter Thiel writes in Zero to One; “being the first mover doesn’t do you any good if someone else comes along and unseats you.” Fourth, whereas pioneers tend to get stuck in their early offerings, settlers can observe market changes and shifting consumer tastes and adjust accordingly. In a study of the U.S. automobile industry over nearly a century, pioneers had lower survival rates because they struggled to establish legitimacy, developed routines that didn’t fit the market, and became obsolete as consumer needs clarified. Settlers also have the luxury of waiting for the market to be ready. When Warby Parker launched, e-commerce companies had been thriving for more than a decade, though other companies had tried selling glasses online with little success. “There’s no way it would have worked before,” Neil Blumenthal tells me. “We had to wait for Amazon, Zappos, and Blue Nile to get people comfortable buying products they typically wouldn’t order online.

4. “National Debts Shall Not Be Contracted with a View to the External Friction of States”; This expedient of seeking aid within or without the state is above suspicion when the purpose is domestic economy (e.g., the improvement of roads, new settlements, establishment of stores against unfruitful years, etc.). But as an opposing machine in the antagonism of powers, a credit system which grows beyond sight and which is yet a safe debt for the present requirements — because all the creditors do not require payment at one time — constitutes a dangerous money power. This ingenious invention of a commercial people [England] in this century is dangerous because it is a war treasure which exceeds the treasures of all other states; it cannot be exhausted except by default of taxes (which is inevitable), though it can be long delayed by the stimulus to trade which occurs through the reaction of credit on industry and commerce. This facility in making war, together with the inclination to do so on the part of rulers—an inclination which seems inborn in human nature — is thus a great hindrance to perpetual peace. Therefore, to forbid this credit system must be a preliminary article of perpetual peace all the more because it must eventually entangle many innocent states in the inevitable bankruptcy and openly harm them. They are therefore justified in allying themselves against such a state and its measures.

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food services segment of the e-commerce market is growing by nearly 20 percent yearly

After Alibaba blocked external search engines, its marketplace became the dominant destination for shopping in China’s e-commerce market. It became the go-to platform for product search in China, a feat that neither Amazon nor eBay could achieve in the United States, where Google is usually the first go-to destination for shoppers

Depression, sexual troubles, anxiety, loneliness, and guilt are the main problems that drive consumers into the recovery movement. Explaining such adult troubles as being caused by victimization during childhood does not accomplish much. Compare “wounded child” as an explanation to some of the other ways you might explain your problems: “depressive,” “anxiety-prone,” or “sexually dysfunctional.” “Wounded child” is a more permanent explanation; “depressive” is less permanent. As we saw in the first section of this book, depression, anxiety, and sexual dysfunction—unlike being a wounded child—are all eminently treatable. “Wounded child” is also more pervasive in its destructive effects: “Toxic” is the colorful word used to describe its pervasiveness. “Depression,” “anxiety,” and “sexually dysfunctional” are all narrower, less damning labels, and this, in fact, is part of the reason why treatment works. So “wounded child” (unless you believe in catharsis cures) leads to more helplessness, hopelessness, and passivity than the alternatives. But it is less personal—your parents did it to you—than “depressive,” “anxiety-prone,” and “sexually dysfunctional.” Impersonal explanations of bad events raise self-esteem more than personal ones. Therefore “wounded child” is better for raising your self-esteem and for lowering your guilt. Self-esteem has become very important to Americans in the last two decades. Our public schools are supposed to nurture the self-esteem of our children, our churches are supposed to minister to the self-esteem of their congregants, and the recovery movement is supposed to restore the self-esteem of victims. Attaining self-esteem, while undeniably important, is a goal that I have reservations about. I think it is an overinflated idea, and my opinion was formed by my work with depressed people. Depressed people, you will recall, have four kinds of problems: behavioral—they are passive, indecisive, and helpless; emotional—they are sad; bodily—their sleeping, eating, and sex are disrupted; cognitive—they think life is hopeless and that they are worthless. Only the second half of this last symptom amounts to low self-esteem. I have come to believe that lack of self-esteem is the least important of these woes. Once a depressed person becomes active and hopeful, self-esteem always improves. Bolstering self-esteem without changing hopelessness or passivity, however, accomplishes nothing. To put it exactly, I believe that low self-esteem is an epiphenomenon, a mere reflection that your commerce with the world is going badly. It has no power in itself. What needs improving is not self-esteem but your commerce with the world. So the one advantage of labeling yourself a victim—raised self-esteem—is minimal, particularly since victimhood raises self-esteem at the cost of greater hopelessness and passivity, and therefore worsens commerce with the world. This is indeed my main worry about the recovery movement. Young Americans right now are in an epidemic of depression. I have speculated on the causes in the last chapter of my book Learned Optimism, and I will not repeat my conjectures here. Young people are easy pickings for anything that makes them feel better—even temporarily. The recovery movement capitalizes on this epidemic. When it works, it raises self-esteem and lowers guilt, but at the expense of our blaming others for our troubles. Never mind the fact that those we blame did not in fact cause our troubles. Never mind the fact that thinking of ourselves as victims induces helplessness, hopelessness, and passivity. Never mind that there are more effective treatments available elsewhere.

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When bitcoin was launched, it had zero value in the sense that it could be used to purchase nothing. The earliest adopters and supporters subjectively valued bitcoin because it was a fascinating computer science and game theory experiment. As the utility of Bitcoin’s blockchain proved itself a reliable facilitator of Money-over-Internet-Protocol (MoIP),8 use cases began to be built using bitcoin, some of which now include facilitating e-commerce, remittances, and international business-to-business payments.

In his original draft, Jefferson indicted George III for his complicity in the slave trade: [H]e has waged cruel war against human nature itself, violating it’s most sacred rights of life & liberty in the persons of a distant people who never offended him, captivating & carrying them into slavery in another hemisphere, or to incur miserable death in their transportation thither.… [D]etermined to keep open a market where MEN should be bought & sold, he has prostituted his negative for suppressing every legislative attempt to prohibit or to restrain this execrable commerce.9 Of course, there was profound irony in the harsh denunciation of a king who had not personally bought or sold slaves on the North American continent, in a document whose author had.

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Monir Islam is a global motivational speaker, successful personality in the e-commerce and digital marketing industries, and co-founder & Chief Visionary Officer of BE, an advanced tech company which offers multiple digital-based solutions. By combining aspects of human psychology and innovative business strategy, Monir leads a holistic approach in managing the future of business and technology.

Ehsaan Islam is an entrepreneur, and a successful personality in the e-commerce and digital marketing industries. Ehsaan is the co-founder and Chief Technology Officer of BE - an advanced tech company which offers multiple digital-based solutions. He is currently leading the development of the digital ventures of the BE Ecosystem.

Moyn Islam is an entrepreneur, motivational speaker, philanthropist, and co-founder & Chief Executive Officer of BE - an advanced tech company which offers multiple digital-based solutions. Moyn is most known for his successful career on the e-commerce and digital marketing industries, recognized among the top 10 highest earners in the shortest time in the business and is a thriving personality in the digital industry.

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With the restriction of government to its proper sphere and its concentration into our organization, resulting in the liberation of man-power into wealth-producing enterprise, and especially with the enormous growth of inter-world commerce, world-income increased to such a point that taxation could be reduced to a minimum; and the lower the taxes the more flourishing business became and the greater the income.

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As Peter Drucker said, “In a few hundred years, when the history of our time will be written from a long-term perspective, it is likely that the most important event historians will see is not technology, not the Internet, not e-commerce. It is an unprecedented change in the human condition. For the first time—literally—substantial and rapidly growing numbers of people have choices. For the first time, they will have to manage themselves. And society is totally unprepared for it.”4 We are unprepared in part because, for the first time, the preponderance of choice has overwhelmed our ability to manage it. We have lost our ability to filter what is important and what isn’t. Psychologists call this “decision fatigue”: the more choices we are forced to make, the more the quality of our decisions deteriorates.

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Amazon follows the same fail-faster religion. Jeff Bezos, founder of the trillion-dollar e-commerce platform, sent the following memo to his shareholders when the company became the fastest ever to reach annual sales of $100 billion: One area where I think we are especially distinctive is failure. I believe we are the best place in the world to fail (we have plenty of practice!), and failure and invention are inseparable twins. To invent you have to experiment, and if you know in advance that it’s going to work, it’s not an experiment. Most large organisations embrace the idea of invention, but are not willing to suffer the string of failed experiments necessary to get there. Outsized returns often come from betting against conventional wisdom, and conventional wisdom is usually right. Given a 10 per cent chance of a 100 times payoff, you should take that bet every time. But you’re still going to be wrong nine times out of ten. We all know that if you swing for the fences, you’re going to strike out a lot, but you’re also going to hit some home runs. The difference between baseball and business, however, is that baseball has a truncated outcome distribution. When you swing, no matter how well you connect with the ball, the most runs you can get is four. In business, every once in a while, when you step up to the plate, you can score 1,000 runs. This long-tailed distribution of returns is why it’s important to be bold. Big winners pay for so many experiments.

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Now if one notices carefully one will see that between these two worlds, despite much physical contact and daily intermingling, there is almost no community of intellectual life or point of transference where the thoughts and feelings of one race can come into direct contact and sympathy with the thoughts and feelings of the other. Before and directly after the war, when all the best of the Negroes were domestic servants in the best of the white families, there were bonds of intimacy, affection, and sometimes blood relationship, between the races. They lived in the same home, shared in the family life, often attended the same church, and talked and conversed with each other. But the increasing civilization of the Negro since then has naturally meant the development of higher classes: there are increasing numbers of ministers, teachers, physicians, merchants, mechanics, and independent farmers, who by nature and training are the aristocracy and leaders of the blacks. Between them, however, and the best element of the whites, there is little or no intellectual commerce. They go to separate churches, they live in separate sections, they are strictly separated in all public gatherings, they travel separately, and they are beginning to read different papers and books. To most libraries, lectures, concerts, and museums, Negroes are either not admitted at all, or on terms peculiarly galling to the pride of the very classes who might otherwise be attracted. The daily paper chronicles the doings of the black world from afar with no great regard for accuracy; and so on, throughout the category of means for intellectual communication,—schools, conferences, efforts for social betterment, and the like,—it is usually true that the very representatives of the two races, who for mutual benefit and the welfare of the land ought to be in complete understanding and sympathy, are so far strangers that one side thinks all whites are narrow and prejudiced, and the other thinks educated Negroes dangerous and insolent. Moreover, in a land where the tyranny of public opinion and the intolerance of criticism is for obvious historical reasons so strong as in the South, such a situation is extremely difficult to correct. The white man, as well as the Negro, is bound and barred by the color-line, and many a scheme of friendliness and philanthropy, of broad-minded sympathy and generous fellowship between the two has dropped still-born because some busybody has forced the color-question to the front and brought the tremendous force of unwritten law against the innovators. It is hardly necessary for me to add very much in regard to the social contact between the races. Nothing has come to replace that finer sympathy and love between some masters and house servants which the radical and more uncompromising drawing of the color-line in recent years has caused almost completely to disappear. In a world where it means so much to take a man by the hand and sit beside him, to look frankly into his eyes and feel his heart beating with red blood; in a world where a social cigar or a cup of tea together means more than legislative halls and magazine articles and speeches,—one can imagine the consequences of the almost utter absence of such social amenities between estranged races, whose separation extends even to parks and streetcars.

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