Skip to main content

Amazon will go bankrupt one day, CEO Jeff Bezos tells employees


In fact, I predict one day Amazon will fail. Amazon will go bankrupt, said Jeff Bezos



HIGHLIGHTS

  • Amazon recently announced it would build 2 new headquarters in the US.
  • Prior to the announcement, Jeff Bezos had a meeting with employees at Amazon’s Seattle headquarters
  • At the meeting on last Thursday, Bezos talked about the company's future.
Earlier this week, Amazon announced that it would build its headquarters in New York's Long Island City area and the Virginia suburbs of Washington DC. But just before the company announced its multi-million dollar projects that is bound to bring more than 25,000 jobs in both the cities, Amazon founder Jeff Bezos had a separate meeting with his employees at the company's headquarters in Seattle where he was asked some tough questions about the company's direction going forward.
In the meeting that took place last Thursday, a Amazon employee asked Bezos about the company's future. The employee, as CNBC News points out, wanted to know the lessons the company's visionary founder had learnt from recent turmoil in the retail sector, particularly the bankruptcy of American department store chain, Sears.
"Amazon is not too big to fail. 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-plus years," Bezos said, as heard by the publication in a recording of the meeting.
The goal of everyone at Amazon is to "prolong that demise" Bezos said. He further added that this can be achieved by the company to "obsess over customers"-something he has said in the past as well. "If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end. We have to try and delay that day for as long as possible," he said.

Notably, the report also points out that some employees at Amazon have also expressed their concern over the company's aggressive expansion strategy. In the recent rime, Amazon's workforce has increased by manifolds and it now has over 550,000 lakh people working for it worldwide. The company has caught the attention of the US President Donald Trump, who on various occasions has targeted Amazon on Twitter. Besides this, the European Union has also opened an anti-trust probe against Amazon over its use of merchant data. Amazon staffers said that anti-trust violations and the possibility of government regulations are the biggest concerns among the employees right now.

Labels:

Comments

Post a Comment

Popular posts from this blog

iPhone 12 series with 5G support launched: India prices, specs and all the new features

A lot of focus has been giving to 5G connectivity as well. The new 5G iPhone 12 models will let you browse the web faster and in a more efficient manner. Apple iPhone 12 series is finally out. This year the firm has introduced as many as four iPhones in its portfolio, all powered by the new A14 Bionic chipset. It is worth adding that since Covid-19 has affected many players in the consumer tech industry including Apple, the launch of the new iPhones comes a bit late. Usually the firm introduces its flagship iPhones in September every year. However, this time the firm is expecting to revive its low iPhone sales projections with multiple models priced at different segments and audience. The new iPhones try to bring a mix of new tech and nostalgia as it carries a similar design as the iPhone 5 and 5S. it has flat side bezels with a more boxy design but has the latest tech inside that makes it snappier and efficient. It comes in different colours as well. A lot of focus has been gi...
Post a Comment
Read more

Top 10 trending phones of week 24

At a time when the number 1 and 2 remain the same as last week, a new number 3 is still exciting news. That would be the Samsung Galaxy J6, climbing two spots to join the Redmi Note 5 Pro and the Mi 8 on the podium. The OnePlus 6 seems to be bolted in fourth - that's its third week in there after claiming the top spot 4 weeks ago and quickly slipping into second the following one. The biggest gainer this week has to be the Redmi S2 (a.k.a. Redmi Y2) - entering the chart last week in 9th, it's now all the way up in 5th. The Galaxy A6+ (2018) is the second Samsung to climb two spots and we now find it in 6th, nudging the Nokia X6 into 7th. The Redmi Note 5 returns to the Top 10 in 8th spot after being absent for a couple of weeks, and long-time champion from a while back Galaxy J7 Prime makes a surprise appearance in 10th. In between them, we find the Oppo F7, cautiously advancing one spot ahead of its tenth last week. Xiaomi Redmi Note 5 Pro RANK: 1 WA...
Post a Comment
Read more

France tightens 5G network controls amid Huawei backlash

Huawei is facing scrutiny in many countries over its ties with the Chinese government and allegations that Beijing could use its technology for spying. It denies those allegations. France is stepping up controls of telecoms infrastructure used in next-generation networks, a finance ministry official said, amid growing security concerns over Chinese group Huawei. The increased vetting is not intended to target any particular equipment maker, the official said, after the measures were unveiled on Friday in a new amendment to draft business legislation backed by the government. Huawei is facing scrutiny in many countries over its ties with the Chinese government and allegations that Beijing could use its technology for spying. It denies those allegations. The United States and some allies, including Australia and New Zealand, have banned Huawei from 5G networks. Foreign Minister Jean-Yves Le Drian said on Wednesday that Paris was aware of the risks of Huawei's access...
Post a Comment
Read more