Posted on 11/16/2018 5:34:46 PM PST by E. Pluribus Unum
In a recorded company meeting, Amazon founder and CEO Jeff Bezos declared, “One day Amazon will fail. Amazon will go bankrupt.” “Amazon is not too big to fail… In fact, I predict one day Amazon will fail. Amazon will go bankrupt,” Bezos declared in the internal meeting, according to CNBC. “If you look at large companies, their lifespans tend to be 30-plus years, not a hundred-plus years.”
“If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end,” he continued. “We have to try and delay that day for as long as possible.”
Bezos reportedly made the statement in response to a question about department store chain Sears’ bankruptcy.
Bezos is currently the richest man in the world, and in July, it was reported that Amazon is set to capture 50 percent of the U.S. e-commerce market.
Last month, it was reported that Amazon is looking to make even more money by rapidly expanding its private brands business.
Amazon and Bezos have repeatedly been criticized by President Trump, who claimed the company is putting “thousands of retailers out of business.”
“Amazon is doing great damage to tax paying retailers. Towns, cities and states throughout the U.S. are being hurt – many jobs being lost!” proclaimed President Trump last year, while in March, he added, “I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!”
(Excerpt) Read more at breitbart.com ...
Nothing shocking about that.
He’s probably very well right. Creative Destruction will only increase.
“All glory is fleeting.”
Taxicab industry majorly disrupted.
Hotel industry majorly disrupted.
Fifty years ago, no one at Sears predicted that Sears would one day fail.
Bezos is smarter than Sears, and that will make Amazon even more successful.
Note, he said “One day Amazon will fail “, NOT that the failure is imminent.
It’s not an earth shattering statement.
He may very well be wrong.
But if someone said that about Toys R Us or Sears 30 years ago who would have believed it?
Heck, I remember a chain burger place called Wetsons, I THINK, when I was a kid.
And a Korvette’s????
Kind of fuzzy but i think those 2 existed on Staten Island and elsewhere.
It will fail if the Rat/RINO party succeeds and turns the USA into a 3rd world nation.
Despite its size and command of on line sales...
Amazon is barely profitable.
One hiccup...
Amazon is profitable, Bezos just plows all the profits into news businesses so it never shows a profit.
I remember EJ Korvette. They had a store in the Paramus, NJ mall. I worked there the summer after I got out of high school.
"We had another strong quarter for a business of our size and global scope," Uber chief financial officer Nelson Chai said in a statement. "As we look ahead to an IPO and beyond, we are investing in future growth across our platform, including in food, freight, electric bikes and scooters, and high-potential markets in India and the Middle East where we continue to solidify our leadership position."
Will Uber make it?
This is news?
Just see Sears.
Can’t happen fast enough for me.
Twenty years ago, Sears was Amazon. But they didn’t have the vision of Bezos.
My friends it only matters where YOUR investment money is. Are the S & P mutual funds smart enough to jump ship when they see it coming or do they just react? I’d hate to see one big company go down too fast but then that’s why it’ s the 500. Just because you lose your job at Amazon it doesn’t mean you won’t profit if you INVESTED. Waiting on Hillary’s retraining offers(coal miners) won’t do much.
I have always wondered why Uber loses so much money. Unreal $$. These guys are pretty much the largest transportation company in the world that has been in business just a handful of years.
This thread needs Bezos pic of him eating deep fried tarantula on a stick.
I get to be reminded of the Grant’s 1000 store failure every time I hear an NPR program sponsored by funding from the WT Grant Foundation. I do miss Woolworth’s, but for the record, the future of Sears was called into question in the early ‘80s.
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