Amazon CEO Jeff Bezos made a fantastic recording last week in an all-hands meeting, a recording of which was heard…
Amazon CEO Jeff Bezos made a fantastic recording 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 is the richest man in modern history, the Amazon CEO says his 24-year-old company is far from invincible.
Read more: Credit calls on Sears to shut down all their stores and call their survival plan “wishful thinking”
“Amazon is not too big to fail … The fact is that I predict Amazon will be bankrupt. If you look at large companies, their lifespan tends to be 30 plus years, not a hundred plus years, says Bezos said when answering a question about Sears who recently went bankrupt.
While history shows that no empire lasts forever, it is unusual for all CEO managers, especially executives in one of the world’s most successful companies, to talk their businesses on such unused terms.
Bezos said that the goal was to delay the inevitable as long as possible ̵
1; and the way to do that was to focus on customers.
“If we start focusing on ourselves, instead of focusing on our customers, it will be the beginning of the end … We must try delay that day as long as possible, “he said.
Several Amazon employees who spoke with CNBC on terms of anonymity said that government’s regulation and potential antitrust violations are” big concerns “when looking at the company’s future.
“It is a fact that we are a big company,” Bezos said in the recording that is heard by CNBC. “It’s reasonable for large institutions of any kind, be it companies or governments to be examined.”
Amazon this week announced that it will expand to two new locations for its second headquarters, called “HQ2”, which means an increase of about 50,000 employees.
Amazon did not respond immediately to Insider’s request for comments.