Jeff Bezos says Amazon will fail and go bankrupt one day
18 November, 2018, 21:52
Amazon CEO Jeff Bezos has recently made an astonishing acknowledgement claiming that one day his company will fail and go bankrupt.
In the meeting that took place last Thursday, a Amazon employee asked Bezos about the company's future. Amazon will go bankrupt. "If you look at large companies, their lifespans tend to be 30-plus years, not a hundred-plus years", Bezos told his staff.
Bezos also emphasized that in order not to meet the same fate as Sears, which was once the world's largest retail chain and declared bankruptcy in October, Amazon should "obsess over customers".
With the same scrutiny being lobbed at other tech powerhouses, specifically Facebook, CNBC said that Bezos believes Amazon shouldn't be bundled with its tech peers. Over the last eight years alone, the company's workforce has grown 20-fold to over 600,000 employees and its stock price has more than quadrupled since 2013.
He further said that one day Amazon will fail but their job is to delay it as long as possible. "It's reasonable for large institutions of any kind, whether it be companies or governments, to be scrutinized".
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.
But the comments do come at a time when many critics are expressing concern over Amazon growth in recent years and its expansion plans in the years ahead.
"The governor and the mayor have chose to throw Jeff Bezos nearly $3 billion in subsidies and tax breaks - and throw in a helipad so he doesn't have to take the damn 7 train", said city councilman Jimmy Van Bramer.
Bezos also owns The Washington Post, which has been a lightning rod of criticism for some conservatives, including President Trump, who told Axios last week that his administration was looking into antitrust violations by Amazon. "It's very interesting - I'm not sure what that says about society".
The president's scepticism has put him at odds with the findings of the CIA and senior intelligence officials. Recent reports indicating that the U.S. government has made a final conclusion are inaccurate.
British music icon Elton John retraces his "incredible journey" in John Lewis' emotionally-charged and nostalgic Christmas spot. Finally, there were those who realised the effect the John Lewis advert could have before it was even released.
It said almost 5,500 firefighters were battling the blaze and it did not expect it to be fully contained for another two weeks. It will also further the complicate the search for remains in burned out areas, such as Paraside, in northern California.
But BlackBerry said it will quickly fold the company's technology into its QNX unit, which makes software for autonomous vehicles. The company has raised almost $300 million and was said to be a close to an initial public offering when BlackBerry swooped in.
WWE Survivor Series will see superstars from Raw competing with superstars from Smackdown Live for the ultimate brand supremacy. The kickoff show, which will see the five-on-five tag-team title fight between Raw and SmackDown brand, will start at 3:30 AM.
Both batting champions won MVP awards for the first time since San Francisco's Buster Posey and Detroit's Miguel Cabrera in 2012. Rollie Fingers, Robin Yount and Ryan Braun were the first three MVP winners in Brewers history, with Yount winning twice.
Several Conservative pro-Brexit MPs have already said they will not support the deal as well as some pro-EU MPs. If she fails, the risk is that Britain tumbles out of the bloc in March without any deal to smooth the process.
Darrington later atoned for his transgression with scoring scampers of 4 and 16 yards with 7:59 and 3:51, respectively, to play. The penalty negated Darrington's touchdown, and Harvard was forced to settle for a field goal in Boston.
Postseason aspirations for the Green Bay Packers took a major hit following the loss to the Seattle Seahawks Thursday night. Rodgers thought he was throwing to starting tight end Jimmy Graham , but Graham was out of the game at that point.
Nintendo Has No N64 Classic Plans Right Now
Both consoles re-create the look of the original game consoles, albeit in a smaller size, and pack in a bunch of classic games. Nintendo at this point doesn't have to make any more Classic consoles, especially that now they've fulfilled the "bridge".
UK PM warns ousting her won’t make Brexit talks easier
If she fails, the risk is that Britain tumbles out of the bloc in March without any agreement to smooth the process. If 48 letters are sent, then a vote will be triggered and Mrs May could face a challenge to her leadership.
5 years on, the PlayStation 4 has sold over 86 million units
Lasting until November 27, PlayStation's digital Black Friday sale is chock-full of great deals on a diverse selection of titles. Alongside this, PlayStation has announced that a new Call of Duty: Black Ops 4 PlayStation 4 bundle is coming to North America.
Steve Hansen Declares Ireland The Best Team In The World
Asked whether Schmidt is eyeing a move back to New Zealand next year, Hansen said: "Well, I don't know you'll have to ask Joe". Asked if Ireland are now World Cup favourites, Schmidt added: "We've got to work hard to make sure we're ready for the USA".
German driver fractures spine in F3 crash
Photographer Minami Hiroyuki has concussion, while marshal Chan Cha In suffered a fractured facial bone and lacerations. German Formula 3 driver Sophia Florsch, 17, has somehow survived an incredible crash in the Macau Grand Prix.
Indonesia plane crash prompts Boeing lawsuit
In a statement, a spokesman says the two urgent updates sent out since the Lion Air crash re-emphasize existing procedures. The suit alleges this is a change from prior Boeing 737 designs and that the company failed to communicate the change.
Hamilton cool on F1 expansion to new countries
Some of the F1 fans tried to correct Hamilton about the Indian Grand Prix held between 2011 and 2013 and the turnout. He did not criticise the nation and his words were those of a thoughtful and considered champion.