Nothing shocking about that.
He’s probably very well right. Creative Destruction will only increase.
“All glory is fleeting.”
Taxicab industry majorly disrupted.
Hotel industry majorly disrupted.
Fifty years ago, no one at Sears predicted that Sears would one day fail.
Bezos is smarter than Sears, and that will make Amazon even more successful.
Note, he said “One day Amazon will fail “, NOT that the failure is imminent.
It will fail if the Rat/RINO party succeeds and turns the USA into a 3rd world nation.
Despite its size and command of on line sales...
Amazon is barely profitable.
One hiccup...
This is news?
Just see Sears.
Can’t happen fast enough for me.
This thread needs Bezos pic of him eating deep fried tarantula on a stick.
Uh....? Isn’t the WaCompost all about you and your political leanings?
Amazon is a ponzi scheme of the left meant to destroy capitalism. And funny enough, tons of conservatives love supporting them...
bookmark
Amazon went public in 1997. They did not make a quarterly profit until 2001, 14 years later. They didn’t have a profitable year until 2003, 16 years after they went public. Even without showing a profit by December 10, 1999 their stock value reached $107.13 which adjusted was 62 times the value of the original offering price a little more than 2 years before. But the price dropped back down to $6.78 by November 2, 2001.
After finally having a profitable quarter values doubled over the next year. They tripled again by October 31 2003 to $54.43. The stock had ups and downs for the next five years. 21 years after its initial offering on November 21, 2008 the stock price was down to $37.87.
But over the next ten years the stock price had what could be described as a spectacular rise in value to a high of $2039 on September 4 of this year and reached $1 trillion dollars in market capitalization. The value of the stock has dropped to $1593 as of today.
I read the book The Everything Store: Jeff Bezos and the Age of Amazon about 5 years ago. It was an interesting story. I just started Jeff Bezos: The Force Behind the Brand. It is sad that he is another leftist billionaire who just financed a terrible gun restriction initiative here in Washington State. So yes, Bezos is right eventually Amazon will fail.
I dunno, the tech glitterati that Bezos is because of AWS, may be a water empire, that runs for a thousand years, or until the muzzies kill us all before they kill each other. Blessed are the cockroaches...
Ali Baba
I agree with everything he has said. mediocrity is attracted to large successful companies because it is easier to hide and blame failings on others... At some point someone that has no skill or business sense will take over the company and ruin it because they lack the sense of vision to see what they should be doing in the business climate.
For me, Amazon has three areas that are making them less and less attractive to use.
One, is their search sucks. Many times if you do a search, you’ll get several hundred results, but if you attempt to sort by price or reviews, the result set drops to a handful. They throw in extra results that don’t match your search and make it difficult to narrow your search through words. Finding things is getting to be so frustrating that it isn’t worth it.
Two is their choice to allow sellers from China to be able to comingle their items without any means to filter them out.
Three is the incessant advertising getting in the way.
Amazon used to be an easy place to find what you wanted, buy it, and receive it quickly. It’s drifting further and further away from that as they apparently try to be something else.
He’s absolutely right. As the death of Sears shows. Every company is just a few mistakes away from gone. Bigger companies get a couple of extra mistakes, but you must correct the path.
The issue is, will the loss of employment in the retail sector and all other sectors impacted by that loss cause America to fail.
It's great that you no longer have to go to Wal-Mart to consume the work product of Asian peasants, but can have a drone bring it to your house.
It's not great that the collapse of the white working class is destroying your country.
Soooooo, Walmart has how long??? I have to start looking for a new grocery store if it is near!!!