Jeff Bezos to employees: ‘Amazon will fail…Amazon will go bankrupt’
Even though Jeff Bezo’s is selling millions of dollars worth of Amazon stock, that’s still not a reason to be freaking out…yet.
At an “all-hands” meeting, Amazon CEO Jeff Bezos had to address a separate but related concern among employees: Where is all this headed? An employee asked their CEO what lessons Bezos has learned from the recent bankruptcies of Sears and other big retailers?
“Amazon is not too big to fail,” Bezos said, in a recording of the meeting that CNBC has heard. “In fact, I predict one day Amazon will fail. Amazon will go bankrupt. If you look at large companies, their lifespans tend to be 30-plus years, not a hundred-plus years.”
“If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end,” Bezos said. “We have to try and delay that day for as long as possible.”
Even though Amazon is a major success, their employees are voicing concerns that it’s too much of a success. 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.
It’s scary, yet assuring, that the CEO of Amazon is a realist. Things that we use on a daily basis now, will not be what we use in the future.
Source: CNBC
