Posted on 12/26/2020 10:09:55 AM PST by Eleutheria5
Just days before Amazon announced the big winners of its HQ2 sweepstakes, CEO Jeff Bezos had to address a separate but related concern among employees: Where is all this headed?
At an all-hands meeting last Thursday in Seattle, an employee asked Bezos about Amazon’s future. Specifically, the questioner wanted to know what lessons Bezos has learned from the recent bankruptcies of Sears and other big retailers.
“Amazon is not too big to fail,” Bezos said, in a recording of the meeting that CNBC has heard. “In fact, I predict one day Amazon will fail. Amazon will go bankrupt. If you look at large companies, their lifespans tend to be 30-plus years, not a hundred...
(Excerpt) Read more at cnbc.com ...
Who said he’s shoring his stock? That’s your ASSUMPTION backed by no facts. And nothing he said isn’t true. They WILL go under some day, and the primary job of current employees is to make that NOT today. Anybody in the stock market that freaked out about this is an idiot who shouldn’t be in the stock market.
A nothing burger. It’s like saying we are all going to die but we want to delay it as long as possible.
I can’t see Verizon or AT&T ever failing. The original AT&T included the current AT&T and Verizon and a number of other entities. They could merge with other companies but I don’t see how they could fail.
Sears created Discover Card and the competitors colluded to blacklist the service until Sears sold it off at a loss.
Sears dropped out of mail order sales right as the internet boom was beginning (around 1994).
And hasn’t there been a CEO in charge selling off assets and then buying them back himself?
Sears didn’t fail because it was too old, cronyism and bad leadership did them in.
Of course it will. The Great Reset will make everyone equally poor and begging for a rice cooker from Dear Leader.
That’s exactly how I see it. Nothing lasts forever.
All things must pass: https://en.wikipedia.org/wiki/All_Things_Must_Pass:_The_Rise_and_Fall_of_Tower_Records
Great documentary, btw. And the phrase holds true to everything under the sun. Even the US itself.
Here’s to hoping Bezo’s Washington Compost is the first to go.
Then Amazon Warehouse employees unionize.
Who said he’s shoring his stock? That’s your ASSUMPTION backed by no facts.
He is selling a billion shares a year. The stock just took a nosedive. I can assume, because this looks suspicious. The SEC should investigate, because this looks bad. A cop who sees a driver zig-zagging in and out of his lane has to stop and investigate, too. It’s called probable cause. His statements and stock moves are probable cause, too.
” And nothing he said isn’t true...blah blah.”
A wise man knows whatever he says, but doesn’t say all that he knows. A fool says whatever he knows, but doesn’t know all that he says.—Yiddish proverb. As a CEO, he has a responsibility to not cause panic sell-offs by his words and actions. There are criminal penalties for doing that.
” Anybody in the stock market that freaked out about this is an idiot who shouldn’t be in the stock market.”
Anybody who would buy overpriced, overrated stock like Amazon is in for a rude lesson in life. That’s beside the point. He is not allowed to freak out idiots who bought his stock. If it turns out that he was manipulating his stocks in order to personally profit, it’s jail-time for Bezos (in a fair world, that is).
So what and so what and so what. Really this article is from OVER 2 YEARS AGO. Has nothing to do with any changes in stock price this week. You are showing exactly why ass-u-me is a bad habit. There’s nothing suspicious about saying something and having the stock price change 25 MONTHS later. It’s not probable cause, it fake news.
Oh look then you turn around and say Amazon stock is overpriced. Thus giving a much better reason why the price may have dropped than a TWO YEAR OLD STATEMENT.
Face it, you’re full of crap, making things up just to sound smart. But you don’t sound smart. You sound silly. Find something he said 2 weeks ago. Then MAYBE you’ve got something. This ain’t cutting it, this is just you ass grabbing.
Ecclesiastes and free enterprise.
I have heard talk of a push to unionize Amazon workers ...
Forget about the warehouses, they will be automated soon. I know folks who work in AWS and other tech areas of amazon and they love the innovative atmosphere and the low bureaucracy.
yep, its the same with kingdoms and countries. They all fail eventually.
Bezos is just stating a fact.
“Sears didn’t fail because it was too old, cronyism and bad leadership did them in.”
Maybe getting old is synonymous with cronyism and bad leadership.
Cut all trade with China and Amazon is out of business
Sears could have been Amazon, if they had had leadership with vision.
Sears WAS the Amazon of its time.
One of the hardest things for a successful manager to do is change the operating procedures that made him a success.
Adapt or die.
Bezos has made the same comment dozens of times since he started Amazon. It’s basically just a truth of business. All businesses fail eventually. Be in in a year or 150 years. He wasn’t predicting Amazon’s imninent demise. He was simply waxing philosophical about universal business truths. Weird how this time the markets took him seriously though.
Bezos is being philosophical.
He’s not saying Amazon is failing now. He’s saying, eventually, all businesses fail—just as all nations eventually fail (including the USA).
IMHO, the biggest threat to Amazon at the moment are Chinese counterfeit products. When Amazon opened the door to independent sellers, it opened Pandora’s box. Amazon has been flooded by cheap, Chinese knockoffs and outright fake products.
I think twice about buying anything from Amazon anymore, because I can’t be sure the product is genuine.
Nike withdrew all its products from Amazon, because there were so many counterfeit Nike products. Yet, are still Nike products all over Amazon. How many of those products are fakes? I’d venture most of them are, considering Nike doesn’t sell on Amazon.
And what is Amazon doing about it? It seems nothing.
Eventually this is going to catch up with them.
Yep, there's an interesting Youtube video on the rise and fall of Sears. They and Montgomery Wards (also gone) once ruled the non-grocery retail business. Sears was particularly interesting though, when Amazon was just getting started some of the more visionary employees thought Sears should use their billions and crush Amazon and conquer the internet retail market (and they easily could have). The CEO at the time shot down the proposal calling internet retail a "fad" and stated that customers would always prefer a physical catalog to shop out of.
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