Amazon's opening a new grocery store (and it's not Whole Foods or Amazon Go)
Are you ready to shop at a full blown Amazon supermarket?
The apple cart has been accused of having a sexist algorithm.
Say farewell to your Instagram likes.
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Welcome to the daily charge.
It's Monday, November 11.
11 to 11, 11 I'm [UNKNOWN]
I'm Ben [UNKNOWN]
I'm Roger Chang.
And here today's top stories.
Amazon is launching a new brand of grocery store in Los Angeles, California.
Amazon says this store is different from Whole Foods.
The company was tight lipped on the name if there would be more locations and what the selection would be like.
This new store won't be like the Amazon Go store, which allowed customers to check out without a line.
This unnamed store would be like a regular grocery stores.
Ed, you broke the story.
What do you know about this new brand of grocery store?
Apparently I know very little according to what you just led in on.
Well, okay, so.
The way to think about this is that whole foods is a higher in grocery store.
They do a really good job with organic, natural, specialty foods.
But they're still a giant piece of the market that Amazon is just not getting exposure to.
If you still wanna go to a grocery store and you don't do grocery delivery, which.
Most people don't do, there is only about like 3% of the market that actually does grostery delivery in the United States so I guess the same is on decided we need to create our own brand, have it be separate the whole foods so whole foods kind of.
Reverse course is like a whole nother different way.
Like we're just gonna go all in on supermarkets now.
So what's important to recognize about grocery is is that it's an $800 billion market in the United States.
And Amazon's been growing still, even though it's humongous at about 20% revenue growth.
Maybe they're finally doing it.
But are people gonna actually switch to an Amazon grocery store?
That's the big question, cuz they're gonna have to put in years if they actually develop this out.
To build them out, hire people, do logistics, all All this stuff, and then are people actually going to show up?
That's going to be the big question mark.
Can they use some of their like specialized knowledge from whole foods in general, I would think the idea of why they would go with a separate brand is to not mess with Whole Foods if they start adding in all kinds of,
Lower end products or things that wouldn't be fitting of the Whole Foods brand.
It would probably take off the market so create another brand.
Which I still think somewhat confusing but I think in the long run might actually make sense
yeah, and if they call it something really obvious like Amazon Fresh.
They already have done ran down the market.
By, Buck, they've only announced one store so far in Los Angeles that's a far cry from Walmart which has almost 5,000 stores in the United States like this is a long way for them to go by.
It's definitely something that's gonna get a lot of attention as they continue to expand.
Different Wal-Mart's sounds horrifying, I'm just thinking like Amazon super store that sells everything, everything, everything, everything.
It's a crazy idea but maybe they'll do that eventually, who knows.
That sounds horrifying.
Next step, the creator of Ruby on Rails, David Heinemeier Hansson posted on Twitter that he received.
20 times the credit that his wife did on the apple cart.
Then Apple co founder Steve Wozniak replied and said the same thing happened to him and his wife was received 10 times the limit.
He said they have no separate bank or credit card accounts.
The York Department of Financial Services says it is investigating Goldman Sachs when the New York law was violated and And wants to ensure all consumers are treated equally regardless of sex.
Now the Apple card is backed by MasterCard and Goldman Sachs.
Goldman issued a statement saying it bases it's credit decisions on credit worthiness, not gender, race or any other basis.
This prohibited by law.
Well no kidding.
Hansen says as soon as this became a PR issue, they immediately bumped up her credit limit without asking for additional documentation.
Hey Roger, what do you think Apple's going to do with this considering, once your attached Apple, there's a lot of scrutiny that goes with that already.
If it's banking it's one thing, but now it's Apples bank.
Absolutely, absolutely, this all kind of rose in social media right, which is not something that normally happens.
If this was a Goldman Saxx thing by itself.
That said, for Apple, I don't know how big of a PR mess this is.
I mean, ultimately this is an investigation into Goldman, not Apple, and it's practices.
So we'll see how Apple responds.
They haven't yet but they do have a bit of a possible liability here cuz it's sort of a partner they're working with as opposed to Apple itself.
Yeah, and this is a new market to a certain extent for Goldman so it kind of makes sense that they would **** this up.
But at the same time messing it up for wasn't his wife.
Just seems really embarrassing to me because he's Apple co founder.
Like if you're gonna get it right get that one right at the very least [CROSSTALK]
Although it's probably a good thing that they screwed up in this situation because it actually brought light to this issue.
I mean, if you are going to find a silver lining in it, I guess that would be it.
Well, I don't own stock in Goldman's, I don't care.
I'm really curious what Apple is going to do about this because they don't want any kind of stink of, "we are against one type of person versus another" and that seems like that would be a big issue.
Apple Car is supposed to have But at the same time unless a large number of people start coming out and saying that this has been a problem for them and their spouses as well.
Then they might be able to contain the situation I would say.
Also if you know Golman fixes the algorhythm or addresses this issue as quickly as possible.
Yeah like they can probably They could probably put a band aid on this-
You forgot to carry the one, that's all, it was just a programming error.
Sorry about that.
And lastly, this week Instagram will be hiding public like counts for some US users.
Individuals will still be able to see how many likes their post recieved, but like counts will not be displayed to followers.
Follower counts will still be displayed.
Instagram CEO said, the idea is to Depressurise Instagram.
Make it less of a competition.
Ben what do you think?
Is this gonna change the way people use Instagram?
Maybe, I don't really use Instagram anymore.
I use Twitter a lot and Twitter really lives off of likes.
That's kind of how you know.
Facebook is part of its one of the key ingredients to keep you hooked into one of these networks is the idea of likes, right?
Seeing the scene the multiple likes seem kind of double meet hit you get when you get 100 likes when I see it.
Yeah, I know.
But I guess the idea that you know that this is just something you see as opposed to what others see there is that, there is that element where there's that competitive nature and I think they're trying to take this out.
I think it's a good thing, frankly, like they've been talking about this as, This is sort of a good PR move for Instagram.
Like this is all about mental wellness, and I think there is a legit concern there.
That folks do focus, particularly younger folks, teenagers are too fixated on the likes and whether or not their posts are Instagrammable.
And appealing enough.
Well, it's not like you can't take a screenshot of the likes you can see and then post it again.
Yeah, but [CROSSTALK].
But that's really extreme, right?
Like this is definitely more passive, right?
Like you see what these are.
So if you no longer can see what other posts are doing, I don't know.
Maybe it makes you feel a bit better about yourself when you have your one like.
I think you're right.
I agree with everything that you just said as far as the mental wellness.
And those are all really important, and that's why they're moving in that direction.
However, you're taking away an element of, how are you supposed to know how viral a tweet is or whether it's really getting steam?
But yeah, you'll know personally-
No, I mean like
If I am a consumer of Instagram.>> All right, right.>> If I see something again on Twitter that has like 30000 likes or whatever, there's like a hard mentality to it in a certain exent.
I'm more likely to like it.>> But I think that's a good thing if we're breaking the heart of the mentality and it's just like
I just like what I like.
I don't care if 30,000 people like this Instagram post that's not my thing.
Obviously way cooler than I am but okay
I'm not stop kissing up to me it's really getting annoying.
Yeah that;s what I was doing
Keep this in mind folks Nicki Minaj Tweeted I'm not posting on Instagram after this week because they removing the likes, I'm quoting here, what shall I get into now?
Think of all the time I'll have with my new life.
So we're gonna lose Nikki Minaj if they hide her likes, because this is only happening to some US users.
So that could change.
If celebrities actually get angry enough, this could affect Instagram a bit.
It could, for sure.
If celebrities leave the platform, that's a real problem for Instagram.
So you could, maybe theoretically they'll reverse course at some point.
So we'll see.
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