Posted on 10/10/2018 9:54:11 AM PDT by SoFloFreeper
....Author, entrepreneur and NYU business professor Scott Galloway has emerged as one of Amazon’s fiercest critics. At last month’s Recode Code Commerce, Galloway gave a 45-minute talk on the future of retail that savaged Amazon and warned of the threats the company poses not just economically but philosophically and morally.
“I believe our society is effectively going through this very uncomfortable transition that is bad for our youth, bad for America and bad for the planet where we no longer worship at the altar of character and kindness,” he said. “We worship at the altar of innovators and billionaires.”
In his best-selling book “The Four: The Hidden DNA of Amazon, Apple, Facebook and Google,” Galloway cites some arresting statistics: Far fewer U.S. households have a gun than Amazon Prime, by 30 to 64 percent. More Americans have Prime than voted in 2016 (55 percent), or earn $50,000 or more a year (55 percent), or go to church (51 percent). He calls Amazon’s ability to woo Prime subscribers at a $119 yearly cost the equivalent of “entering into a monogamous relationship” with its consumers, who as of 2016 spent, on average, $193 per month. (Non-Prime members average $138 per month.)
From 2006 to 2016 Amazon’s stock price growth surged by 1,910 percent, destroying Sears, J.C. Penney, Kmart, Best Buy, Macy’s, Nordstrom, Target and Walmart.
Perhaps most importantly: Since the Great Recession, Amazon has paid just $1.4 billion in corporate taxes compared to Walmart’s $64 billion.
(Excerpt) Read more at nypost.com ...
It would seem the message is not that the Amazon/On line sales business model/method is not bad but rather the politics of the business people.
The unrefutable fact is that Amewrican (and Chinese) women live on their phones and can and do shop online. Many are able to do some shopping on their phone at work. We now see TV commercials where women in bed eating bon bons buy used cars on line.
Whole bunch of meaningless comparisons, bad zero sum math, and outright stupidity. Yup, Amazon is big. So what.
“I am in agreement with Professor Galloway.”
Why stop with Amazon? The so-called “social media companies” need to be broken up and/or regulated. Otherwise, you may as well say that it’s o.k. for The CPUSA to take over without a fight.
Thank you! And when did Free Republic become anti free market free trade DU? YAAAA I don’t agree with their politics so YAAAAA they should be busted up YAAAAA Good little gestapo goons.
For folks that stand by their self righteous conservatism while pumping up the anti capitalist rhetoric and big government intervention is sickening
Many of the replies on this thread sicken me.
Really people? You want the State to step in and close down a multi-billion dollar business because you don’t like their politics?
I honestly had to make sure I was on FR and hadn’t accidentally stumbled into some leftist forum
Confiscate their wealth? You have to be kidding.
I don’t particularly care for Bezos but he has built arguably one of the best businesses in the last 50+ years and their customer base attests to that.
Personally, makes me extremely happy to not have to go dig around at mom and pop stores looking for what I want, pay their giant markup, and waste time I could spend with my family in doing so when I can push a button and get exactly what I want at a good price delivered to my door.
“I’d differ in part about AT&T. Whatever else it brought us as monopoly, quality was high among those things.”
That is absolutely untrue today. AT&T is ripping off their customers while providing poor-quality service. Unfortunately, as a monopoly most places, the get away with it. In the 1980’s Judge Harold Greene broke up AT&T. It has taken all the intervening years, but AT&T has managed to put itself completely back together again. Greene took away the RBOCS (Regional Bell Operating Companies) from AT&T so all AT&T had was long lines. The RBOCs have managed to gobble each other up, until Southwest Bell (the biggest of the RBOCs) acquired AT&T after it had gobbled up the other RBOCs first.
I don’t want the government determining what is a valid business. The government is a worse threat than a big, arrogant business that wants to crush all competitors and become the biggest.
I know that bezos is a leftist who only cares about money. I know that Amazon needs criticism. I don’t want the government to do it.
Please, sears and the rest required no one else to destroy them and their outdated business models and lack of change in the retail and online worlds.
They all laughed at amazon and ebay when they first came out and said people would never shop online to the degree it would harm, much less bankrupt, brick and mortar institutions.
I am too to many mom and pop businesses put out of business. It will be a sad day when one has to rely on Amazon for clothing, foods, banking.
We are paying for their reduced rate shipping for Amazon because they get a huge cut in using the postal service. I object to them being treated preferential
I love Amazon-—been ordering from them for about 7 years-——all sorts of things.
About 1 month ago I ordered a 6 pack of macadamia nuts.
2 weeks later I received an e-mail from Amazon that there was a recall on some lot #s.
They included the link to the FDA website and I checked the numbers,all OK.
I would not have received that service from my supermarket.
.
There are no barriers to other companies setting up a business like Amazon. Nobody has a right to commandeer their profits.
There were very real benefits to millions of Mom & Pops, but there were downsides too - limited selection, high prices.
I understand people look back fondly on that era of business in the US, but that's no reason to grant the government undue powers over the marketplace.
The market should be the final word, not our government overlords.
I hate Amazon with a passion. This week I’ve bought:
2 tarps and roofing nails in preparation for the hurricane
A spindle and blades for my lawn mower
A pair of New Balance tennis shoes
All without leaving the house and they were delivered (or will be delivered) in two days with shipping included in my Amazon Prime. I’m going to hell.
Too many people are only for smaller government until they see something they want the government to fix for them. That’s why it’s so hard to keep the government in its box.
Who negotiated the Amazon deal with the US Postal service? Was the postal service forced to agree to it? Does the postal service perform poorly because of UPS, FedEx, DHL?? Whose fault is that?
The Trust Busters are a thing of ancient history.
Amazon will say individuals and small/med size businesses sell most of the stuff on Amazon.
“AT&T is ripping off their customers while providing poor-quality service.”
Too bad people don’t do their research because, now days, that info is easily available.
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