09:08 Import Genius Comm may be used by Amazon to clone products, but to be successful in business, treat vendors as key stakeholders and keep all partners happy, including customers, employees, investors, regulators, and communities.
- Import Genius Comm is a search engine for shipping manifests used by importers and Amazon merchants to research factories and customers, but there is concern that Amazon may use this information to clone products and compete with their own platform.
- To be a sustainable business, you must treat your vendors as key stakeholders and be the counterparty of choice for all six stakeholders including customers, employees, investors, regulators, and communities.
- To win in business, keep all partners happy and address any issues with regulators, employees, or the community.
- Don't bet against Amazon, as they are already enormously successful and if they continue to win, they will become the only global mega.
- Flexport's role is to empower and enable other brands to compete and thrive in the Amazon world, with about 10% of their shipments bound to Amazon and an increasing trend of companies selling through their own e-commerce sites.
- Having a business school degree has helped in understanding the principles of accounting and finance, but it's not worth the debt unless you're rich and your family can pay for it.