• Home
  • Global News
  • 'Amazon will fail. Amazon will go bankrupt': Jeff Bezos makes surprise admission about Amazon's lifespan
'Amazon will fail. Amazon will go bankrupt': Jeff Bezos makes surprise admission about Amazon's lifespan
Global  
businessinsider

*Jeff Bezos told Amazon employees that he predicts "one day Amazon will fail," according to a recording of an internal meeting heard by CNBC.
 
*Bezos added that Amazon's job is to delay failure for as long as possible by focussing on its customers.
 
*Amazon staffers told CNBC that issues such as government regulation and potential antitrust violations worry them.

 

Amazon CEO Jeff Bezos made a stunning admission last week in an all-hands meeting, a recording of which was heard by CNBC.
 
With the company valued at just shy of $1 trillion and Bezos being the richest man in modern history, the Amazon CEO said his 24-year-old firm is far from invincible.
 
"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," Bezos reportedly said when addressing a question about Sears recently going bankrupt.
 
While history shows that no empire lasts forever, it is unusual for any CEO - particularly a boss of one of the world's most successful companies - to talk down their firm in such unvarnished terms.
 
Bezos said the goal was to delay the inevitable for as long as possible - and the way to do that was to focus on customers.
 
"If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end... We have to try and delay that day for as long as possible," he said.

 

Several Amazon employees who spoke to CNBC on condition of anonymity said government regulation and potential antitrust violations are "big concerns" when they look to the future of the company.
 
"It's a fact that we're a large company," Bezos said in the recording heard by CNBC. "It's reasonable for large institutions of any kind, whether it be companies or governments, to be scrutinized."
 
Amazon this week announced it is going to expand into two new locations for its second headquarters, dubbed "HQ2," which will mean an increase of roughly 50,000 employees.

 
 


 
 


 
More in Global
Whale dies from ‘gastric shock’ after eating 40 kg of plastic in Phili...

In a statement on its Facebook page on Monday, museum officials said they uncovered “40 kilos of plastic bags, including 16 rice sacks, four banana plantati...

Recently posted . 4 views

Christchurch Mosque Killer Faces 'Unprecedented' Sentence

In New Zealand, being found guilty of murder usually comes with a minimum of 10 years in jail before possible parole.  

Recently posted . 3 views

Up to one-third of existing jobs will be automated in next three years...

Additionally, 36.75 percent respondent surveyed expect some kind of disruption in their industry in the next 2-3 years.

Recently posted . 6 views

AirAsia CEO Quits Facebook After Live-Streaming Of New Zealand Shootin...

In a series of tweets on Sunday, Fernandes said Facebook Inc. could have done more and that his Facebook account had 670,000 followers.

Recently posted . 6 views

Belgian pigeon gets auctioned for world record prize!

Belgium's best long-distance racer had been expected to break the previous record of USD 425,000 paid for a pigeon called Nadine.   ...

Recently posted . 6 views

 
 
 

Prashnavali

Thought of the day

Don't wish for it, work for it.
Anonymous