Insta

‘Amazon Will Fail One Day’, Jeff Bezos Tells Employees; Asserts That 30 Years Is The Normal Life Of Large Firms 

Swarajya Staff

Nov 28, 2018, 04:21 PM | Updated 04:21 PM IST

Amazon Founder and CEO, Jeff Bezos. (David Ryder/Getty Images)
Amazon Founder and CEO, Jeff Bezos. (David Ryder/Getty Images)

Answering to a question about Amazon’s future from an employee at a meeting in Seattle on 8 November 2018, the CEO Jeff Bezos said that he predicts that Amazon will fail one day, as reported by CNBC.

Bezos said "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."

He further added that the key to distance the end is by working for customers and not to work for themselves.

The astonishing comments from the founder came when Amazon is going uphill in all its operations. Amazon has just touched the one trillion mark, and Jeff Bezos stands as the wealthiest person in the world.

According to eMarketer, Amazon is on its way to capturing 48 per cent of online market sales in the US by the end of 2018, which is up from 43 per cent last year. Its cloud computing services AWS is ruling the US market U.S. market, Synergy Research Group said in a recent report.

And Amazon is planning to expand its operations to new HQ2 in New York's Long Island City and Virginia suburbs of Washington DC, which will potentially add 50,000 jobs.

Employees are concerned about the superfast expansionary attitude of Amazon and the probable anti-trust violations. The workforce grew more than 20 times to over 600,000.

President Trump’s administration is looking into anti-trust violation of Amazons and regulators from Europe are tailing Amazons misuse of merchant data.


Get Swarajya in your inbox.


Magazine


image
States