Amazon will go bankrupt one day, CEO Jeff Bezos tells employees

Lloyd Doyle
November 16, 2018

In fact, the billionaire admits he predicts that "Amazon will fail one day" and even "go bankrupt", when an employee asked him about the company's future and what he has learned by all the recent retail bankruptcies, including Sears and Toys "R" Us. "If you look at large companies, their lifespans tend to be 30-plus years, not a hundred-plus years", Bezos said, as heard by the publication in a recording of the meeting. Amazon will go bankrupt.

"Amazon is not too big to fail".

Members of the European Parliament have called on the Amazon CEO, Jeff Bezos, to stop selling Soviet-themed merchandise on the global online shopping platform insisting that it is offends victims of the regime, according to an open letter.

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. Amazon has a "good story" to tell around how it's "improving the lives of customers", Bezos reportedly said.

"The bloody actions, terror and inhumanity of the Soviet regime affected almost every family in the formerly occupied countries", the letter said, adding that "the tragic consequences of these actions are felt to this day".

Despite Amazon's unprecedented success, with a workforce of more than 600,000 employees and a stock price that has more than quadrupled since 2013, some within its ranks worry about the pace of expansion.

"It's a fact that we're a large company", Bezos said in the recording heard by CNBC.

CNBC managed to speak to some Amazon employees on condition of anonymity to find out what the biggest future concerns are for the company.

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.

Bezos added that Amazon's job was to delay failure for as long as possible by focusing on its customers. If a company wants to last over a hundred years, Bezos stated at the same all-hands meeting that he believes alcohol is key, "Most of the companies that are multi-hundred year old companies are breweries". "It's reasonable for large institutions of any kind, whether it be companies or governments, to be scrutinized".

Other reports by Iphone Fresh

Discuss This Article