Jeff Bezos tells employees that Amazon ‘is not too big to fail’

Cornelia Mascio
Novembre 18, 2018

"In fact, I predict one day Amazon will fail", Bezos said at an all-hands meeting in Seattle last week, according to a report from CNBC. In March 2018, Bezos' responded to a question about the need to regulate a company with the market power and influence of Amazon. According to CNBC, he went on to say that he predicts that Amazon will one day fail and go bankrupt.

Amazon CEO Jeff Bezos has recently made an astonishing acknowledgement claiming that one day his company will fail and go bankrupt.

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.

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.

"If we start to focus on ourselves", he explained, "instead of focusing on our customers, that will be the beginning of the end".

Amazon, over the past few years, has notably expanded and presently has more than 550,000 lakh people working for it worldwide. 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. In an earlier all-hands meeting in March, Bezos was asked whether tech companies like Amazon need to be more closely regulated due to their sizable market power and influence.

"It's a fact that we're a large company", said the CEO.

Amazon CEO Jeff Bezos said retail companies, on average, last only 30 years.

Amazon turned 24 in July of this year.

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. "It's reasonable for large institutions of any kind, whether it be companies or governments, to be scrutinised".

But some Amazon employees worry about the rate at which the business is growing.

If Bezos' 30-year rule bears any truth, the prospects for Amazon actually look pretty dire. Meanwhile, regulators in Europe opened an antitrust probe questioning Amazon's use of merchant data, and Japanese officials are also reportedly investigating the company over antitrust allegations.

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