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 ...
He’s absolutely right. As the death of Sears shows. Every company is just a few mistakes away from gone. Bigger companies get a couple of extra mistakes, but you must correct the path.
The issue is, will the loss of employment in the retail sector and all other sectors impacted by that loss cause America to fail.
It's great that you no longer have to go to Wal-Mart to consume the work product of Asian peasants, but can have a drone bring it to your house.
It's not great that the collapse of the white working class is destroying your country.
A profit is shown at the bottom line of the profit and loss statement.
That profit is visable and is reflected as an asset on the blalance sheet.
At some point it is cash that is then spent on assets rather than be paid out as dividends
Right, I have done that as well, using Amazon as a research tool. That’s very smart.
Two smart cookies we are!
On some items, Amazon will deliver to my door on the same day for free.
Almost everything else is delivered for free within a day or two.
And Amazon does not have all the overhead costs of Walmart.
Amazon is winning and winning big.
You need to keep an eye on Walmart. Amazon is waking up to the fact that Walmart has a logistical system they need to replicate and groceries that people patronize that are now being used to self-deliver internet purchases.
Walmart took a page out Amazon’s play book by offering items you’ll never see stocked in a store. Amazon can’t beat 4,000 retail locations.
Soooooo, Walmart has how long??? I have to start looking for a new grocery store if it is near!!!
“Amazon can’t beat 4,000 retail locations.”
If you want to keep score to see who is beating who.
Walmart has a value of $286 billion.
Amazon has a value (market cap) of $779 billion.
“Nothing shocking about that. He’s probably very well right. Creative Destruction will only increase.”
indeed. pretty much all organizations ossify within 30 years ... they hang on afterwards for a long time, particularly government organizations, but pretty much never do anything useful after they ossify ... probably the only thing “shocking” about Bezos’s comments is that, as the head of a VERY young, LARGE, and powerful retailer, he’s aware of relevant history and is willing to articulate it publicly ... no doubt he also knows that you can’t fix a problem unless you acknowledge a problem exists ....
Market cap, LOL. Compare the sales and profits.
True.
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