MEPs urge Amazon's Bezos to drop Soviet-themed goods

Roman Schwartz
November 18, 2018

Amazon will go bankrupt one day, Jeff Bezos, the CEO of the e-commerce colossus worth nearly $1 trillion, told his employees in a stunning admission.

Bezos said that the goal was to delay the inevitable for his 24-year-old firm for as long as possible, which is possible by focusing on customers. But surprisingly, he believes that the retail giant will one day "fail" and "go bankrupt." .

The CEO's words arrived just before Amazon announced the two locations-Long Island City, New York, and Crystal City, Virginia-for its second headquarters, dubbed HQ2.

Bezos also emphasized that in order not to meet the same fate as Sears, which was once the world's largest retail chain and declared bankruptcy in October, Amazon should "obsess over customers".

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.

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

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"Amazon is not too big to fail". He said if one looks at large firms, their life spans tend to be 30-plus years and not hundred-plus years, CNBC said in a report.

Some employees have expressed concern about Amazon's rapid expansion, according to CNBC. Amazon's workforce has grown by more than 20-fold in the last eight years to over 600,000 employees, and the stock price has more than quadrupled since 2013.

He further said that one day Amazon will fail but their job is to delay it as long as possible.

An Amazon rep didn't comment on the all-hands meeting, but addressed the antitrust issues by citing a Wall Street Journal interview with Jeff Wilke, the company's CEO of the worldwide consumer division.

If Bezos' 30-year rule bears any truth, the prospects for Amazon actually look pretty dire. "It's very interesting - I'm not sure what that says about society".

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