We spend a lot of time talking about
Amazon and stand by our prediction that the Seattle firm will be the first $1
trillion market capitalization firm. But today let’s take a look at how
one company is responding: Walmart. Online sales grew 60% in the second quarter. Impressive, but even more impressive is what they’ve been able to accomplish culturally. They’ve taken a page from Amazon’s playbook and become master storytellers. Most firms want to under-promise and over-deliver. However that doesn’t work in a digital age where it’s all about the vision: drones and car production volumes that are impossible to meet are the flavor of the day. The retailer made 15-plus major digital announcements in the past year, touting acquisitions, omnichannel investments and reorganizations, signaling to the Street: hey, we’re in the game as well. They’ve also been vocal about killing things and aren’t afraid to tell the Street when things are not working. All of these announcements collectively paint Walmart as visionary and shift the focus away from the Seattle retailer and fix the market’s gaze on an old lover
from a simpler, more nostalgic time. A winner: Giphy, or is it Jiffy? Giffy or Jiffy? I don’t know. The 40-year-old GIF search engine has 200 million daily active users who watch over 4 million hours of GIFs every day. To put that in perspective, Snapchat has 173 million daily active users. The company’s raised $150 million and is valued at $600 million but is not yet profitable although they are trying to change that
by rolling out sponsored GIFs. Giphy seems to be doing a lot right: not just creating a huge repository of content, but also executing an effective search strategy, forging impressive partnerships and engaging a massive network of users. Giphy gets how young people communicate. What happens in an internet minute? 50 voice-first devices are shipped, 342,000 apps are downloaded, Facebook registers 900,000 logins and 15,000 GIFs are sent via its messenger app. What has changed most dramatically since 2016? Video usage has exploded across social platforms with consumers watching 4 million YouTube videos per minute in another forward-looking indicator of the death of the broadcast television industrial complex. Snapchat shares have grown threefold since last year to 1.8 million per minute. And what hasn’t changed? The number of emails sent, Spotify plays, Tinder swipes and Netflix
hours viewed are relatively flat. And my internet minute? We’ll see you next week. This is what we should do, we should have an animation and it should be a pie, “Scott’s Internet Minute,” it should be Wikipedia, NPR, NYU Stern, The Economist, National
Geographic, to like this slightly tiny, like this little like half a percent slice, it zooms back, and it’s like this size, it’s like a sliver. Genius!