Amazon will go bankrupt.
Forward-looking: Being the richest person in modern history and the head of a company worth nearly $1 trillion, you might imagine that Jeff Bezos feels pretty confident about Amazon's long-term future. Amazon will go bankrupt.
During an all-hands meeting last week in Seattle, an Amazon employee asked Bezos what he had learned from the recent bankruptcies of Sears and other large retailers. To postpone the end of the company's lifespan, Bezos argued that Amazon needs to focus its energy on its customers, rather than worrying too much about the internal dynamics at play. In fact, I predict one day Amazon will fail.
On the heels of Amazon's mega announcement of building two more second headquarters in New York City and Arlington County, Virginia, and investing more than $5 billion to create jobs for more than 50,000 Americans, CEO and founder Jeff Bezos admits the whole company is doomed to fail one day.
"If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end".
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"It's a fact that we're a large company". The company's workforce has grown more than 20-fold in the last eight years, and its stock price has more than quadrupled in the last five years. "It's reasonable for large institutions of any kind, whether it be companies or governments, to be scrutinized".
The CEO's observations came at a time when the Amazon is at its prime with its core retail business continuing to boom while it is winning huge cloud-computing market.
What makes Bezos' confession more startling is because Amazon was on top of the world this week.
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.
"Most of the companies that are multi-hundred-year-old companies are breweries", he said.