Compete in the world where so the concept of something we can all benefit from. In writing this book im sure in the midst of the pandemic however in my view this topic could not be more relevant especially these days when so many of us are forced to have that mentality. Help us kick off alex for the above to ask you what you found to be so important about this topic that you wanted to focus your sites on interviewing the leading ceos and what started you to read this book and how does it fit into your overall journey . I covered the tech giants and i commend the slightly different background instead of going to Journalism School i studied in Industrial Labor relations and i put that in the back of my mind but i have always focused on culture organizational behavior and how companies are run and how work is structured. Thats something i voice thought about it. My background is ive covered the news going on in the companies and so around 2017 obviously we started seeing the tech giant starting to grow and dominate in a way that was really strange for a big company. Usually Big Companies tended to fall apart. They make room for new competitors and thats the typical lifecycle of a company. Instead of doing that they just kept getting stronger and stronger and as i was spending time with these companies have began to see practices that didnt fit the traditional mold that i was taught in school. Its very different from traditional businesses. In fact their operations in the way their cultures and their technology was just so different and you can draw a line from what they do to their success. Its not like facebook and Instagram Bob instagram and now facebook is successful but i believe theres this underlying culture that is in place inside the tech giant that led them to be so dominant and it would be a shame if they cap that to themselves. There is never going to be a point in time where the tech giants say heres a manual for being successful. Why dont you take notes and figure out what we do well. They just werent going to hand that over and from my perspective as a journalist with the background that touched a little bit on Labor Relations and organizational a way to wris down and put it together in a book and give it to the rest of the commune a way that would allow a new form of working which i believe we are all headed to. But tech giants is have a head start. I found this thing going on inside of these companies and started to review it in the most impactful way possible in a way that would give the rest of us a chance to take part in the marketshare of these companies as opposed to having thank you so much for coming forward on a personal level in other half of all of our members are diving into this and interviewing everybody and distilling the key themes and sharing with us today the key learnings. Mikey my key take away from what you are saying is essentially its something that gets bigger and more bureaucratic and becomes less innovate it. Big Tech Companies arent fitting into that mold and you talk about these differently. Before we jump to calls he also mentioned that people often assume that the different Tech Companies are very different from each other but based on your research you found they are quite similar. Could you share with us what were the key themes you found in east a kuiper innovate of Tech Companies as you saw common practice . Thats what the title always day one connotes. Bezos the line comes from jeff bezos and theres this moment inside amazon were a sosa speaking to the whole company and someone gives this presubmitted questions. Bezos goes in for the whole company and reached the question and reads it and its menacing way that makes the entire Company Start laughing in seattle. You dont ask bezos what day one looks like. Day to is followed by paralysis and along painful decline followed by death. When i first heard this i was like bezos is telling amazonians two work nights and weekends and holidays and thanksgiving and christmas. Your hours now the minute you take your foot off the gas pedal it but i see it very differently. This whole idea of day one as a mentality is the companys approach each day as their first with little regard to the legacy. A lot of companies that get attached to what got them there and do nothing but focus on that. I think thats what the tech giants have done very well. Theres this one business that has gotten us advance and we appreciated and its been good announced time to disrupt their cells and invent ourselves a new so we wanted up suffering the fate of most companies which is when you are done you are done. Amazon is the number one example of this that they started out as an on line bookstore and then became a company that sold everything on the internet and became a thirdparty marketplace of Fulfillment Operation with web service provider. A hardware manufacturer, and the worlds top computing, crusher and now they have told an experimental gopro which is by the way this is something well all be using soon because we dont want to have interpersonal amazon says thats not going to take us to where we need to go. The average company on the fortune 500 would let Something Like 70 years and today its 15 years so if you are not continually betting you are done. I think its built in to amazon but it really exists and all the tech giants. Facebook they say 1 done and thats the same idea. They reinvent themselves to an on line directory and they are inventing a series of small intimate networks and is part of messaging when it all starts to click. Google is reinvented itself over and over again. We could go into this whole bit more. I will rap up in a second but people say google had this search function and thats really not the case. Its definitely not an inevitable Company Prince started out as a web site and then it became a Browser Extension with the google toolbar which people would download and use it would pop up on Internet Explorer. People with type researches in their and that accounted for more than 50 of google searches. It was people typing in this browser and then they reinvented a actual browser with chrome because they realize microsoft was going to screw them and Internet Explorer and again now with the voice assistance. Microsoft says he refreshed and they have gone from a Windows Company to a club company and apple has done it well in the past. They have gone from the manufacture of the ipod a pretty successful line of Desktop Computers and now the breadandbutter is the iphone. I think they have lost the mentality of apple and i think they are in trouble with the transformation. We will find out once the time is up on that. Thank so much alex. We are at this critical point. You feel like its just the nature of these Tech Companies that it applies to some but it doesnt apply to other nontech businesses are to believe having studied everything about and having reported on all these companies do believe this is the kind of mentality that every company could have if its leadership focused on that . Yeah i do believe that. First of all this whole the lineage and between tech company and not tech company is getting a lot more glory than it did in the past but look at the automotive industry. We have no need to read and then. We made the card has four doors and five seats in that runs on gas so why would read reinvented if its selling well . The companies have gotten ahead on things like electric vehicles and selfdriving tend to be much more successful in the future. The whole idea is not to tip it. Dont wait until its desperation time to change your business. Go ahead and invent the next thing before you are down to the court. Construction companies are using Machine Learning to get better what they build. There could be reinvention there and i think what we are seeing right now in the moment that we are in is covid is forcing companies to do more than they imagined. Heres one example. Theres a stage Building Company in ireland that wasnt going to be building stages for any stretch of time and it just transformed an reinvented itself completely and outbuilding desperate people working at home they have these skills so when i put them to use . The will probably be a second business line for them once they get back up and running and maybe more profitable than the first. Heres the deal, i think every company can definitely get used to it. Sometimes you tend to focus on their flagship product but its in the back of everyones mind people thought about the mentality and you just be much better off in the long term. Before we move to the other common themes he found in these Tech Companies that enable them to outperform and reinvent that want to ask you again when is comes to this mentality this all sounds great and it seems like yeah you should have that. I could run my company that way however im trying to understand what actually enables these companies to have that mentality continuously . Is just a matter of the ceo and the Leadership Team being those kinds of people who are in that mindset or is it Something Like obviously Leadership Matters a lot that are there other things that we can actually implement so that this mentality is more commonplace . Im really glad you asked that question because its much more than a mentality. How do you put the mentality and action . Its changing the nature of the way you see work. We have gone through a few Different Cases of work and the industrial economy, i would say it important to think of work into different buckets. One is idea work that means coming up with new things and bring them to life at an together is Everything Everything involved with supporting me can share your flagship product is working well and your preexisting products are working well. A dust real economy everything is execution were too someone would come up with an idea and everyone is in a factory making widgets. We are going to use ideas and if you think about the knowledge economy that we have today almost all of our time is spent on execution work. We have a tiny portion of her lies coming up with a new idea and almost all the rest of time supporting the existing thing. Lets say you run a manufacture. You are doing Inventory Management type billings and all these things and everything you are doing is to support the existing products. Your hair is on fire trying to support it. But the tech giants do so well is they use technology to minimize execution work and make room for ideas. It works in different ways that could be using Automation Technology to help france and some by the way that software is available off the shelf right now. People without Machine Learning skills can figure that out and learning how to collaborate better Like Technology to make sure the documents are accessible and messages get across to the company. Once they have made room for this idea work thats not enough. What they have done is they have figured out now that we have for employees working on idea work we need a system thats going to take the ideas that are doubling up and it doesnt matter if they are at the highest level are the lowest level we are going to find a way to bring those ideas to the decision may curse and turn them into reality. Mindset day one we will transform and we are going to wait until the desperate moment. How do we take their execution work to minimize it and then the pipeline. How do we get ideas to people across tyrannization to decisionmakers so we can bring them to life. By doing all three of those things that tech giants have been able to reinvent themselves. Love that. First the mentality need to be willing to constantly reinvent yourself and not get attached your legacy and then you have to make sure you minimize execution work i automating it reads Tech Companies by nature what they do they dont just do it within their products they also do it in their internal operations and he mentioned this thing about the pipeline, how do you go from an idea to output as quickly as possible. Lets spend a couple of minutes diving deeper into the initial point. When it comes to minimizing execution work you are dimensioned to elements of the someone is making collaboration easier so people are not blocked from getting their idea across the finish line. Any kind of best practices or stories youd like to share with us that could help us i guess accelerated how well we are able to do this in our respective organizations collects. I would say i do want to make it sound intimidating. Minimizing execution work can be as simple as saying how do we make people look at our process and where do we find ways to strip out execution work. Amazon may say in vent thats one of their leadership policies. Take the processes you have and simplify them. That may be Technology Enabled it but doing it while theyve been able to create these inventions like we talked about at the top. So okay lets go a couple of as examples. I will go with the highest tech example and the lowtech example. The hightech example is inside amazon theres a program called hand over the wheel. Its called together by some people in side amazon through the ideas they had these people who would work with suppliers and Fulfillment Centers. If you are interested and if you wanted to sell pies to amazon you would work with the company and figure out we need this many detergent units and as many Fulfillment Centers at this price at this time and we will pay you this much. This idea project yet inside of amazon instead of the vendor managers doing it we would use the force. We can have Machine Learning do this well in amazon they can basically tell you every zip code what they do and what their hobbies are. For instance if you have a zip code actually the stuff how does amazon get you stuff in todays or oneday . Its art in a Fulfillment Center waiting for you to be shipped to you. They have an idea demographically okay we will probably send this many units out. What amazon did was they said okay this seems to be working in the what their Machine Learning engineers on it and ended up having the software essentially take over the bulk of managers activities. Now the software will be coming out with a purchase order and software does inventory planning. They will be negotiating with the vendor so the vendor manager used to get on the phone and say we need 3500 detergent and now they log onto a computer portal and web portal on the internet in amazon tells them how many they want. It minimizes execution work inside of amazons Retail Organization. What happens when they took the machinery and technology and set it free . You can do two things. One is expire people and i think that would be stupid. You can sail right now we have what we are aiming for. We have the idea work and lets see if we can put it to use. I will give a little background and tell one story. The background is look at linkedin and where did all these managers go . A they keep Program Managers inside of amazon so its professional inventors people who are shepherding a series of projects inside the company instead of distorting products. It took execution work and put them on idea work and they went through a vast number of products within the company. Heres the common story. There is a guy who was the head of promotions inside of amazon which is the type of stuff that Machine Learning did a pretty good job on it figured out the optimal price and when do we promote them and how do we figure out a way to get them to the people in the best time. Mark does this thing where he goes and works under jeff asos as a Technical Assistant which is somebody that shadows bezos basically goes to every meeting that bezos takes and he gets a chance to learn about how he thinks and how the company runs and all these different groups in the company and he probably gets to do something cool. The first technical adviser was andy jackson who runs amazons web services. You couldnt go back to pricing and promotion produced taken over by machines. What he does as he huddles with a group of people from the Retail Organization and they have their tasks automated and said what are we going to do quick states say okay lets figure out a way to solve the most annoying part of inperson shopping with technology and they figure out the most annoying part of shopping is checking out. People hate waiting in checkout lines and you never know what type of interaction you will have went to get ready to check out and now definitely you are potentially exposing someone else. Anyway they said lets figure out a way. Okay what if we built this huge vending machine where people type their orders and can find a way to popup the item to be delivered to in the slot. It still seemed like a complex User Experience so they said okay we can use technology to figure out and let them log up without checking out. For anyone who hasnt been there recommended. Neat. You scanned in anything off the shelves in the system knows we have taken in the walkout and you say a couple minutes later they put your seat in your phone. By taking technology and having kumars main source of tasks automated amazon set the foundation for amazon go to be created. This is just such a prime example of how invention is not as much as coulter but the culture that amazon built as a framework to be invented without the wheel you would have amazon go today.