The Four by Steve Galloway, most people have interacted with the big four within the past 24 hours. The summary of the book shows how The Four have dominated the world.
Amazon, Apple, Facebook and Google are seen to pervade modern life. Humans have needs and the four horsemen (referred to by the author) seek to satisfy these needs.
Google - provider of endless information
Facebook - love and networking
Apple - sex appeal and luxury
Amazon - fiction, food and books.
Ubiquity has changed the world people live in. Amazon is the top choice for online purchases in the USA and this trend is moving in the same direction abroad. Amazon is the most profitable company ever. 1/6 of the world population is on FB and Google owns knowledge and responses.
The Big Four have changed and improved the world people live in. They have created thousands of jobs and successfully fulfilled peoples needs.
Amazon appeals to stuff gathering instincts and consumption. Amazon Prime memberships are on the rise, 56% of USA households owned a Prime Account. Humans like to buy and hoard things and have consumerist instincts. Amazon has capitalised on this and anything can be bought within a day. Scale is the secret to the success of Amazon and their customers are in the millions. Amazon are in the race to become the first trillion dollar company.
Apple appeals to the desire to be special. Steve Jobs has become a tech icon, the MAC is cool. Apple's profits set it apart. Apple's luxury items allows people to feel stylish. In line with Porche and Prada, Apple sells its products at premium prices.
Facebook fulfils social desire, it has 1.2 billion users and has more devotees than world religions. Facebook fosters deep human desire and the need for social relationships allowing people to reconnect and nourish connections. People attain the satisfaction of sociality. Facebook uses personal data and provides personalised advertising solutions. It connects the data and uses the data by advertisers. Advertisers can deploy customised ads which can be targeted to specific audiences. Facebook has low costs as content is created by users and it isn't a media outlet which would be expensive to create. FB knows more about political views than any other company. FB uses algorithms and can polarise society.
Google is said to be the modern day god - omniscient and omnipotent. A digital god with an answer. Google is all knowing, trust worthy and powerful. We live in a world full of facts and Google has all the answers. Users confide more in Google than any other company. There are on average 3.5 billion search queries everyday and Google raked in $36 billion dollars in 2016. Google gathers all the information it can and provides key information.
The author talks about the concept of the brain, heart and loins. Google and Amazon utilise the brain - providing costs and benefits of online purchases. FB speaks the language of the heart due to peoples desire for rich social connections and Apple sells luxury and sexy products such as the iPhone.
The author further explore the factors needed to create the first trillion dollar company and explains there are 8 factors. He also questions whether there could be a 5th horseman? Below are the factors a new 5th horseman would require:
T algorithm - 'Trillion'
1. Product differentiation - Apple iphone, Amazon can deliver in hours
2. Compelling vision - FB connects everyone one earth, Google organises all the information in the world
3. Global reach - partially digital product with positive image is needed to reach anyone, anywhere
4. Likeability - positive image
5. Vertical integration - a company must control different stages in the production process
6. Artificial intelligence, - data expertise is crucial and the four are data experts
7. Accelerant - attract top talent and accelerate a person's career
8. Geography - the four are near prestigious universities, for example, Stanford and Berkeley. The 5th horseman would need to recruit the best and brightest.
Could Ali Baba, Uber or Microsoft become the 5th horsemen?
Ali Baba is a Chinese e-commerce company, it is the world's largest retailer with 1/2 billion active users. However, Ali Baba does not have any global reach apart from in China.
UBER has a fleet of 2 million strong drivers in 80 countries where this is the main mode of transportation. UBER has successfully attracted investors and has data skills.
Microsoft and Walmart - Walmart has 12,000 stores but this could be a destructive force. Microsoft has huge assets in LinkedIn.
The author provides career advice and writes to succeed it is important to develop your personality, move to a city and pimp your career.
There are three personal qualities -
1. Emotional maturity - workers are expected to handle a lot of information
2. Curiosity - constantly learn about new tools and qualities
3. Ownership - achieve personal tasks
It is important people seek to further their education and get certified as credential is what will set them apart. Additionally, move to a city to find success, information, wealth and power as this is where the power is and where 90% of new jobs are.
Galloway writes 'find a platform and pimp your career' explaining The Four have shaped the world we live in, now that we know how the Four work make it work for you by learning how to thrive in the world they have created.
Follow your talent, what are you good at? Commit to becoming great at it. Go from good to great and love what you do.
You can also enjoy a video by the author here -
Source: https://www.youtube.com/watch?v=n1xjdRRIzYw
Buy The Four by Scott Galloway here - https://www.amazon.co.uk/Four-Hidden-Amazon-Facebook-Google/dp/059307789X
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