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Amazon’s CEO Jeff Bezos- How A Bookish Kid Became World’s Richest Person

Jeff Bezos is an entrepreneur, computer scientist, an e-commerce pioneer and has a passion for space exploration. He is the founder of Blue Origin, Amazon and is an investor in many other businesses. Jeff Bezos was born to a teenage mother, Jackie and Ted Jorgenson, a circus performer his biological father on January 12th 1964. He however grew up knowing that his father was Mike Bezos, a Cuban immigrant who married his mother when Jeff was still young. He only found out about his real father when he was 10. He cared less and his father has never really looked for him.

Jeff’s mechanical talent was seen from early in his life. When he was a toddle, he dismantled his crib with a screw driver so he could sleep in a regular bed. In his teen years, Jeff made an electric alarm with the aim of keeping his siblings from his room. His parents even had to let him use the garage for his science projects. Growing up, Jeff spent his summer vacations at his grandfather’s ranch. The maternal grandfather has been a role model to Jeff and taught his the farm work and piqued his interest in science even more.

Jeff Bezos schooled at the River Oaks Elementary School, Miami Palmetto Senior High School and finally at the Princeton University. He excelled throughout his school life and crowned it with two degrees in Computer Science and Electrical Engineering from Princeton.

After school, Bezos joined the startup company named Fitel where he applied his skills in computer science. He later quit Fitel and later joined the D.E Shaw where he rose to the position of Vice President in four years. At this hedge fund he met the love of his life, MacKenzie Tuttle who was a research associate there. She is currently the wife to Jeff and a novelist. It was also while working as VP at the D.E Shaw that the idea of starting Amazon came to him. While he was looking for new ventures for the company he worked for then, he saw a statistic that made him interested in internet. It was shown that the World Wide Web was growing by 2300% a month. He immediately saw the potential prospects of selling online and quit his job.

Jeff Bezos began his first business while in school. It was an educational summer camp called the Dream Institute. He charged $600 per person and was able to enroll 6 people. Not bad for a school going child!

Amazon did not begin as what it is now. When it was born in 1994, Jeff wanted it to be an online book store. He thought of the details of the business and called up friend and family who would invest in the business while his wife was driving them to Seattle. He raised $1 million in capital and set up the business in his new home’s garage. The company was initially called Cadabra then it changed to MakeItSo.com, aard.com, awake.com, Bookmall.com, Relentless.com and Browse.com before finally settling for Amazon.com named after the largest river in the world.

Amazon was set up in July 1995 and within a month there were sales in all the 50 states and in 45 foreign countries. Within three years, the company grew to 3,000 employees making over $610 million in sales. However, the company was not making money yet. In 1997, they actually has a $30 million loss and $1,23 million loss in 1998. According to Jeff the company’s aim was to be customer centric company, not making profit. This strategy helped the company survive the dot com burst that killed many startups. In 1998 Jeff Bezos invested $250,000 in Google.

2001 was the first time the company recorded a profit of $5million on $1 billion revenues. Since then Amazon has grown more and more selling everything and with current revenues of $107 billion as of 2016. Jeff owns 18% of Amazon.  Amazon today owns Amazon cloud and web services. Amazon launched its cloud services years before Google Cloud or Microsoft Azure. Jeff Bezos also founded aerospace company called the Blue Origin in 2014. This has been quite a success with many achievements including the launch of a reusable rocket recently. The company is working towards making space travel possible for the general public.

In 2013, Jeff Bezos bought the Washington Post for $250 million. This has since grown surpassing the New York Times as the leader in daily unique visits. Jeff Bezos is currently the third richest man in the world with a value of $65.3 billion with only Bill Gates and Amanda Ortega worth more than him.

India Makes It Big: ISRO Sets World Record By Launching 104 Satellites On A Single Rocket

Indian Space Research Organization (ISRO) today made history by creating a world record of setting 104 satellites into the orbit. PSLV-C37, the heaviest PSLV launched Earth-mapping Cartosat 2 series satellite weighing 700 Kg. along with 103 nano satellites belonging to UAE, US, Israel, Kazakhstan, Netherlands, Switzerland etc. With this successful launch India becomes world’s first country to set more than 100 satellites with a single rocket. Last record was held by Russia when in 2014 it launched 37 satellites in single go.

The PSLV rocket was launched from Srihsarikota space centre in east India. The Cartosat 2 series satellite is capable of taking high resolution pictures and India may use it to keep a watch on neighboring countries like China and Pakistan. For last two decades India has been focusing more on its space research program. ISRO is already working on mission to moon (Chanderyaan) and mission to Mars (Mangalyaan). Mangalyaan, a $74 million mission made India the first country in the world to have successfully launched its mission to Mars on the very first attempt.

For the first time India has used Reusable Launch Vehicle (RLV) and whole process was completed in 26 minutes. A reusable launch system is capable of launching satellites into space more than once which means it can be used again and again to set satellites in the orbit. In 2016 India successfully launched its own space shuttle and joined the league of few countries in the world to have this capability.

With this feather in cap India seems to take the commercial rocket & space industry by storm.

Video Credit: Doordarshan

Team Indus: An Indian space technology startup in the race to land on moon

Team Indus a Bangalore, India based technology startup is one of few companies in the world and only company from India that have ventured into highly costly and research intensive aerospace industry. Team Indus (Axiom Research Labs) founded by Rahul Narayan, Dilip Chabria, Indranil Chakraborty, Sameer Joshi and Julius Amrit has plans to land on moon. ISRO a Govt. of India organization is the only agency in India that works in aerospace field and has been working on a mission to mars called Chandrayaan since 2003.  There are only three countries in world that have soft-landed on moon (China, USSR & US). Soft landing means lading with controlled speed without any damage to spacecraft and surface.

rover on moon Image Credit: Wikipedia

This Indian space startup is participating in Google Lunar XPRIZE competition and working on a spacecraft that will be capable of landing on the moon along with a rover that will explore moon. Google will be offering $30 million as  prize money to the winners of this competition (cost of this kind of project is way hire than prize money offered by Google). Team Indus was one of five teams selected to compete in the Milestone prizes and they won $1M as a Milestone prize for their landing technology. To win the contest participating team has to land a robot on the moon, cover 500 meters over the lunar surface, and send data and pictures back to the earth.

Team Indus started working in 2010. The team which had no experience in space technology worked hard for three years and came up with first design in 2013. Adimurthy, a retired  ISRO scientist rejected their design after first review in 2013. Indus team worked hard and was ready with a new propulsion system in a year.

Propulsion technology innovation

Since propulsion technology used by other countries is highly confidential and inaccessible, Team Indus decided to design their own propulsion system. Team Indus is going to use a propulsion systems that  has never been used before for such critical space mission. They are using a combination of small fixed thrust engines and produce the variable thrust effect using control algorithms. So what other space organizations have been doing with hardware, Team Indus is trying to do with software algorithms.

Team Indus is being led by Rahul Narayana along with more than 20 ISRO scientist. Team Indus with more than 100 employees has secured funding to the tune of $35 M from Pallav Nadhani (Fusion Charts), Subrata Mitra & Shekhar Kirani (Accel Partners), Sharad Sharma (former Yahoo India R&D head), Vivek Raghavan (chief product manager of UIDAI), Pallaw Sharma (director of analytics at Microsoft),  Bala Parthasarthy(AngelPrime angel investors), Sunil Kalra(entrepreneur & investor) and Paras Chopra.

Team Indus has acquired a launch vehicle (PSLV) from ISRO on commercial rates for sending their spacecraft and rover to moon from Sriharikota in 2017. It would be interesting to see who lands on moon first, ISRO, Team Indus or Elon Musk‘s SpaceX which has already started booking for earth to moon flight.

Steve Jobs: The tech visionary who created such a lasting legacy

Success and struggle are just like two sides of the same coin. A man who used to return Coke bottles to earn 5¢  to buy food, and  walk  7 miles every Sunday night to get one good meal a week at the Hare Krishna temple created a legacy which is flourishing even after his death.

Steve Jobs the man behind MAC, iPad, iPOD and iPhone was abandoned by his biological parent, fired from his own company and suffered from cancer. Despite all these ups and downs he never lost focus and love for technology. Coming generations would hardly believe that it was one man who revolutionized music, smartphone and computer industry.

Steve always loved technology and even in college days he preferred practical knowledge over bookish knowledge. Jobs’ interest in electronics began to smoke up as he extended a helping hand to his father’s garage and began to befriend many engineers living in his neighborhood.

Love what you do

In his high school Steve Jobs approached Hewlett Packard and asked for some parts for his school project. The boy’s boldness impressed him and he not only agreed to provide the parts but also offered him an internship at his office. This was indeed a great opportunity for Jobs to formally step into the techno world. While interning for Hewlett Packard he met Steve Wozniak who worked as an engineer there. Wozniak was very passionate about technology like Jobs and they both became friends to change the face of technology in the coming future.

Jobs then got entangled with his higher studies and finally admitted himself in Reed College. But it seemed he could not find his place there and therefore dropped out from the college after first semester. His inclination towards spirituality tempted him to visit India, yet the love for electronics never faded away.

Beginning the journey with Applesteve jobs yourtechstory

After he returned from India, Steve Jobs contacted Wozniak who then was busy in building a small computer. The idea caught up Jobs’ far sighted eyes and he proposed to take this computer into the business world with him. After convincing Wozniak they arranged to set up a shop at his father’s garage and named their business ‘Apple’. We therefore see how this topmost company sprouted from a garage. But as is the way of life, nothing goes smooth and easy and the task to collect seed money to start the business stood like a gigantic monster in front of them. Jobs sold his micro bus and Wozniak his calculator to make an investment of $1350. And this is how they introduced Apple I in 1975.

Although the computer could only get attention of hobbyists yet the sales collected decent amount of cash which gave them a way to redesign the computer into a better model. After 2 years, Apple II was launched in the market with coloured graphics and keyboard. The computer hit the market making huge success and made $3 million in its first year while the sales went up to $200 million in the next year. The success of Apple II marked a benchmark in the career of Steve Jobs.

Facing a downfall

Undoubtedly Apple II was a great success for Jobs but he failed to retain it for long. However, he did not put a pause to his efforts in introducing new designs and techniques to his computers but his efforts failed every time. The sales started decreasing with Apple III and LISA as new companies like IBM began to take over the market. But he never backed out and in 1984 Jobs brought another design in the market and named it as Apple Macintosh which came with a new user-friendly hardware, a mouse. But even this enhancement could not save him.

Jobs’ troubles didn’t seem to end here as the clash with his company’s board of directors in 1983 resulted in his losing of control over Apple in 1985. And eventually he had no other option than to sell his shares and resign. The irony of life could be exemplified best with this situation as Jobs was kicked out of the very company he founded.

NeXT

Stagnation was never meant for Steve Jobs and thus after resigning from Apple he launched another computer company named NeXT. But his aim to bring a revolution in the technical field did not come out as expected since the computers were highly expensive. Meanwhile, he also bought Pixar Animation Studios in 1986 which became the most important stepping stone in his career. With Pixar he made an animation film ‘Toy Story’ which was a smash hit. The great success of ‘Toy Story’ raised Pixar’s 80% shares to $1 billion.

Stay Hungry. Stay Foolish

Just after Pixar was made public, Apple bought NeXT for $400 million and gave Jobs a position as an advisor to the company’s CEO. But the company faced a failure in keeping up its old position and dealt with a quarterly loss of $708 million. As a result of this, the then CEO of Apple resigned from his position and Steve Jobs got back hold of the company by seating himself as the new CEO of Apple. He raised the company value by signing deal with Microsoft and also brought in new technology fronts in the computers. In no time the company’s sales revived and reached to $5.9 billion. Jobs then expanded the company with new products like iPod, iPhone and iPad. However, struggling with ill health Jobs resigned from his position as CEO in 2011.

Steve Jobs’ journey could be summed up in his own words uttered at Stanford University in 2005. His success could be traced by “connecting the dots” of the events that took place. Every turn of his life proved to be of immense importance at some point later. From taking the risk to drop out from the college to resigning from his own company, his decisions led him to better prospects. And his mantra of life, “keep looking, don’t settle” unless you are truly satisfied with what you are doing is worth adopting. It was his relentless efforts and uncompromising attitude that made him the pioneer of techno world. The legacy still continues with latest iPhone 7 and AirPods.

Jobs historic Standford address about life, love and loss

“If today were the last day of my life, would I want to do what I am about to do today?”

Infographic Credit: Funders and Founders
Info graphic Credit: Funders and Founders

Online movie ticket company Alibaba Pictures secures $260M funding

Alibaba pictures a subsidiary of Jack Ma’s Alibaba group has secured series A funding to the tune of $260M. Alibaba pictures run an online movie ticket platform Taobao Movie. After this funding Taobao Movie’s valuation stands at $2.1 billion. Taobao Movie was brought by Alibaba pictures from its parent company in November 2015.

taobao

Taobao Movie lets Chinese movie lovers book movie tickets for around 5,000 movie theaters in China. Alibaba Pictures Group last year also bought Yueke Software engineering, a movie ticketing software company for $134M. Online movie ticketing is a crowded space all over the world. There are already a number of players in online movie ticketing business in China.

Zhang Qiang, CEO of Alibaba Pictures, said:

“The completion of this Series A Financing demonstrates that the business strategy, market prospects and operational capability of Taobao Movie has been well recognised by the industry. With the support of more abundant resources and capital, we will continue to create greater value for our partners, investors and the market.”

This round of funding was led by CDH Investments, Ant Financial Services Group, and Sina.com.

Hyperloop to cut 6 hours journey to 30 minutes by 2019

Hyperloop is a futuristic transportation technology, proposed by tech billionaire Elon Musk that will use reduced pressure tubes in which pressurized capsules ride on an air cushion. Known as the fifth mode of transportation, Hyperloop showed its mettle in the north of Las Vegas in the Nevada desert.

The first public open air test in the Nevada desert on Wednesday lasted for only about two seconds but gave a spine chilling experience to the audiences. Fifteen hundred pounds of aluminum reached 120 mph in just 1.5 seconds, accelerating to 300 mph before it hitting the sand. Now transportation of people and goods inexpensively and safely at lightning speed is no more a dream.

The company which is vying to turn the idea into reality was established in 2014 as Hyperloop Technologies, Inc. and re-branded in 2016 as Hyperloop One. Hyperloop One got $37 million in funding to build the test track. A recent round of $80 million included France’s railway system SNCF.

If things go in the right direction then, Hyperloop would be able to work by propelling pods at high speeds through a tube, which in theory would be able to make the journey from San Francisco to Los Angeles in just 30 minutes.

The Hyperloop is essentially a futuristic train that Musk calls “a cross between a Concorde, a rail-gun and an air hockey table”. This speed was never thought to be possible but soon it would be.

Rob Lloyd, CEO of Hyperloop One, said in a statement:

“We will work alongside these world-class partners to redefine the future of transportation, providing a more immediate, safe, efficient and sustainable high-speed backbone for the movement of people and things.”

Hyperloop recently announced partnerships with governments and investors. Hyperloop one is trying to master the above ground routes first and then underwater routes. Hyperloop would be able to solve the most complex transportation issues faced nowadays. Though critics have reservation related to the travel experience of humans being packed in tubes, Hyperloop is surely the future of transportation.

From the successful Nevada test, one message is loud and clear that the age of Hyperloop has arrived!