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 ...
If I’m not mistaken, Sears got rid of its catalog the year before Amazon opened for business. Ah, hindsight.
Uh....? Isn’t the WaCompost all about you and your political leanings?
Amazon is a ponzi scheme of the left meant to destroy capitalism. And funny enough, tons of conservatives love supporting them...
Ebay usually beats Amazon’s prices if one can find the same product. Amazon is trying to use distributors of every product there is to make Amazon a one stop shopping place.
bookmark
I would disagree based on Trump winning the presidency. How do the people in flyover country split their money between Amazon and Walmart?
But 25 years ago, it was pretty obvious. They were already scrambling by the early 90s. Dumping the catalog operations, closing stores, and selling off (or spinning off) profitable assets - Discover Card, Coldwell Banker Realtors, Dean Witter brokerage, Allstate Insurance, Homart, Sears Mortgage Bankers ... all between 1992 and 1995. Buying time, but not solving the problem.
Now if you want a story of mismanagement and personal greed, I offer you GE.
Amazon went public in 1997. They did not make a quarterly profit until 2001, 14 years later. They didn’t have a profitable year until 2003, 16 years after they went public. Even without showing a profit by December 10, 1999 their stock value reached $107.13 which adjusted was 62 times the value of the original offering price a little more than 2 years before. But the price dropped back down to $6.78 by November 2, 2001.
After finally having a profitable quarter values doubled over the next year. They tripled again by October 31 2003 to $54.43. The stock had ups and downs for the next five years. 21 years after its initial offering on November 21, 2008 the stock price was down to $37.87.
But over the next ten years the stock price had what could be described as a spectacular rise in value to a high of $2039 on September 4 of this year and reached $1 trillion dollars in market capitalization. The value of the stock has dropped to $1593 as of today.
I read the book The Everything Store: Jeff Bezos and the Age of Amazon about 5 years ago. It was an interesting story. I just started Jeff Bezos: The Force Behind the Brand. It is sad that he is another leftist billionaire who just financed a terrible gun restriction initiative here in Washington State. So yes, Bezos is right eventually Amazon will fail.
Unions generally doom large corps
Pensions in the end
Right now
Amazon is mostly ups or fed ex
I dunno, the tech glitterati that Bezos is because of AWS, may be a water empire, that runs for a thousand years, or until the muzzies kill us all before they kill each other. Blessed are the cockroaches...
Can you paraphrase that?
There were several korvettes in suburban detroit. I remember going to one as a kid. And what about burger chef? Remember those?
CC
That’s just a bit nihilistic, dont’cha think?
CC
Paraphrase? The iron cage of modernity has clanged shut.
I don’t know if they will make it or not, but if they don’t stop sending me emails to become one of their drivers, I will do everything I can to see that they DO FAIL.
I’ve never even used their services, nor do I want to.
I would like to know who SOLD THEM MY EMAIL ADDRESS.
It depends what you want to buy. The same Chinese flashlight that cost 1.99 at Ebay will likely cost 5.99 on Amazon, while a Logitech M100 USB Optical Wired Mouse costs $5.99 w/ free S+H, at Ebay but 4.89 at Amazon, while a can of Great stuff Big Gap Filler, 12 Oz costs $10.06 & FREE Shipping at Amazon but only $4.64 at Walmart. While expect to pay at least 14.99 for reg. 30x30 dark men's jeans at Amazon or Ebay, but only 9.99 at Walmart (fairly heavy).
Nihilistic, or a wake up call. Bezos and his 30 years are full of sh!t. He knows it’ll run longer.
“I would like to know who SOLD THEM MY EMAIL ADDRESS.”
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Maybe no one-—they just run things through their computers and eventually hit random valid addresses the same way that it was done with telephone numbers.
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Disgustingly sh¡tty customer service caused that, angering not only parents but causing the generation of kids they were raising to have an established disdain for the company when they became parents themselves.
Really, forecasting the demise of Toys R Us was like forecasting another wild fire in the firebreak free brush fields of California. A guaranteed success.
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