Last week the CEO of Amazon, Jeff Bezos made quite a stunning admission during an all-hands meeting. He said that even after the company valued at a little less than $1 trillion and he being the richest man in the history of the modern world, still, the company is not at all invincible. Bezos said that Amazon has not reached such a level, where it cannot fail and once against went to predict that they will fail. The company will go bankrupt. According to him, while taking look at large companies, their lifespan happens to be more than 30 years and not more than 100 years. The history has proof of the fact that no empire looks set to be in operation forever. It is also quite unusual for CEO to talk negatively about their firm in such a straightforward manner.
Bezos said that goal was to try and delay what is predestined, for as long as possible. He said that the only way to do is to by focussing on customers. The CEO believes that if they start to focus on themselves instead of focussing on their customers, which would signal the end. The company aims to try and delay that particular day for as long as possible. There are quite a number of employees of Amazon, who spoke to CNBC as an anonymous person, said that the government regulation and possible antitrust violations are big issues when they have their focus on the future of the company. Bezos said that there is a fact in the statement, which states that Amazon is a large company. Hence, it is quite natural for large-scale institutions of any type, whether the companies or government to get scrutinized.
This week, Amazon announced that it is possible to expand into two fresh locations for their second headquarters. It’s even dubbed as HQ2, which will mean an increase of around 50,000 employees. Amazon did not quite immediately respond to media in their request for any comment.
William has an experience of more than seven years writing for the web. In the recent couple of years, he’s been focusing on the business sector, watching market trends and the growth of economies. At News IMN, we use his services to keep our readers updated about the market that decides their lives.