Meet The High School Dropout That Showed Up Amazon

Following the dot-com bubble, most high-flying tech stocks got crashed often dropping 40-50%. One of the hardest-hit stocks was Amazon which had fallen a painful 95%. Amazon still had sufficient capital to continue operations; however, they didn't want to continue relying on raising money given how quickly market sentiment could change. So, they decided to launch a website that could let merchants create their own online e-commerce stores called merchant.com. While the idea was good in theory, in execution, Amazon wasn't able to get very far and they shut down the service soon after. Ironically though, just a few years later, a man named Tobias Lütke started a business that focused on just this. Like Amazon's experience with merchant.com though, the first couple of years were extremely difficult, especially with the 2008 financial recession. But, Shopify was eventually able to rise from the ashes and transform into a multi-hundred billion-dollar company. This video tells the story of Tobias Lütke and Shopify and how Shopify showed up Amazon at their own game.

Discord Community:
https://discord.gg/SJUNWNt

Timestamps:
0:00 - Merchant.com
1:04 - Tobias Lütke
3:13 - Snowboarding Business
5:07 - Shopify
7:27 - Reformation
9:28 - Dropshipping

Thumbnail Credits:
Christopher Katsarov
https://tgam.ca/3HslONn
https://bit.ly/3KbixUF

Resources:
https://pastebin.com/DwAS8cL8