Jeff Bezos Predicts Amazon Will Go Bankrupt

Jeff Bezos, Amazon founder and CEO, speaks at the Economic Club of Washington’s Milestone Celebration in Washington on Sept. 13, 2018. (AP Photo/Cliff Owen)

As Amazon prepares to branch out with new headquarters sites in two cities, some employees are concerned what this expansion, and the company’s size overall, could ultimately mean for the retailing giant. Their CEO’s words on the matter may not be entirely reassuring.

“I predict one day Amazon will fail,” Bezos said at an “all-hands” employee meeting on Nov. 8, per a recording heard by CNBC. “Amazon will go bankrupt. If you look at large companies, their lifespans tend to be 30-plus years, not hundred-plus years.”

Indeed, several Amazon employees confided to CNBC they were worried the company is getting so enormous that antitrust violations, as well as the possibility of government regulation, could be a concern.

But despite his dire-sounding prognostication, Bezos isn’t suggesting throwing in the towel. Instead, he told workers, their task is to put off the company’s demise as long as possible, specifically by making sure to “obsess over customers.”

“If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end,” he noted. “We have to try and delay that day for as long as possible.”

Half-jokingly (we think), Bezos did touch upon a product with the power to save companies from a premature death: beer. “Most of the companies that are multi-hundred-year-old companies are breweries,” he noted. “I’m not sure what that says about society.”

Story via Newser.

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Posted by on November 16, 2018. Filed under NEWS I FIND INTERESTING. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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6 Responses to Jeff Bezos Predicts Amazon Will Go Bankrupt

  1. Neil Bamforth Reply

    November 18, 2018 at 7:22 am

    They probably would if they paid the amount of tax they owe the UK!

  2. Glenn R. Geist Reply

    November 18, 2018 at 9:16 am

    “some day” is a phrase that can render a prediction meaningless and I think the demise of Amazon is indeed inevitable. It is, in fact the second law of thermodynamics, if I’m not mistaken. Hell, the demise of the sun and probably the Universe is inevitable some day.

    • Markus Aurelius Reply

      November 18, 2018 at 10:05 pm

      Then there were the Romans, and the Mayans, and the American Indian. All gone now, replaced by the ubiquitous denizens of lives a’gallopin’ with blood shed, for all to behold, until the bell tolls for them and thee…

  3. Glenn R. Geist Reply

    November 19, 2018 at 9:06 am

    Well, I’ve had enough Lakota friends to suspect that they’re still here being shit upon, but all things do come to an end. That includes democracies, which is not surprising seeing how the human ape loves authority and sacrificing to authority. I’m quite sure Amazon will go on for quite some time, even though as one comedian suggested there will be only one big company left called Wal-Azon.

  4. Diane G Reply

    November 20, 2018 at 8:01 pm

    “Instead, he told workers, their task is to put off the company’s demise as long as possible, specifically by making sure to “obsess over customers.””

    Amazon’s customer service used to be excellent–easy to reach a person you could understand (sorry, I’m bad at deciphering some east Asian accents) who would go to great lengths to solve your problem. Sadly, last few times I’ve looked they’ve totally eliminated this service. Combine that with the fact that I know they’re profiling and selling data about me and I can only conclude that they, just like Google, have become evil.

    • Michael John Scott Reply

      November 21, 2018 at 7:44 am

      Coincidentally, I had occasion to speak with Amazon customer service yesterday. While I don’t have complaints about the actual “service” I received, I can say the young lady I spoke to struggled a bit with the English language, and the background noise almost made it impossible to hear her. Yes, Diane, I agree, at least in this respect that Amazon isn’t quite what it used to be.

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