Jeff Bezos predicts Amazon will fail one day

Daniel Fowler
November 18, 2018

Amazon will go bankrupt one day, Jeff Bezos, the CEO of the e-commerce giant told his employees in a stunning admission.

Amazon CEO Jeff Bezos made a rather bold acknowledgement this week, predicting the future demise of his 24-year old juggernaut valued at almost $1 trillion.

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. "If you look at large companies, their lifespans tend to be 30-plus years, not a hundred-plus years".

The meeting came ahead of Amazon's move to new offices in Long Island City in Queens, New York, and Crystal City, Virginia, a short drive from Washington DC.

Bezos made the statement at an all-hands meeting last Thursday in Seattle when an employee asked him about Amazon's future.

He believes the day Amazon starts focusing on itself than its customers, it will start declining and eventually fall. "We have to try and delay that day for as long as possible".

Amazon, over the past few years, has notably expanded and presently has more than 550,000 lakh people working for it worldwide.

No Nintendo N64 Classic Mini in the works, maybe never
He explained that this was the strategic reason for which they chose to launch the NES Classic system in the first place. Nintendo has seen a massive success when it comes to the revival of legendary consoles such as the NES and SNES Classic .

Bezos said that the goal was to delay the inevitable for as long as possible - and that the way to do that was to focus on customers.

"It's a fact that we're a large company", said the CEO. The HQ2 initiative is expected to bring in another 50,000 employees, adding to its more than 600,000-person strong workforce that has grown by over 20-fold in just eight years. "It's reasonable for large institutions of any kind, whether it be companies or governments, to be scrutinized".

Amazon turned 24 in July of this year.

"Facebook is not the same as Google, and Apple is not the same as Amazon", Bezos said.

Several Amazon employees told CNBC on the condition of anonymity after the meeting that Bezos was particularly concerned with tightened government regulation and potential antitrust probes into the company.

Amazon also became a subject in an antitrust investigation by European regulators into the company's use of data.

"Most of the companies that are multi-hundred year old companies are breweries", he said with a laugh.

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