Jeff Bezos to employees: 'Amazon is not too big to fail'

Kenny Grant
November 18, 2018

Bezos went on to share two other pieces of wisdom with Amazon employees.

Bezos, the richest man in the world, came up with the hard-hitting observations when an employee of the company asked him about the future of the e-commerce giant which Bezos had founded in 1994. Based on their current performance, do you think Amazon will ever go bankrupt?

Amazon, based in Seattle, is also poised to expand into two new headquarters in NY and Virginia, and the company has seen growing adoption of its cloud computing service and its voice assistant Alexa, along with continued success in the e-commerce market.

The CEO, who was speaking at a staff meeting last week, was responding to an employee question around what Bezos had learned from the bankruptcy of major North American retailers such as the 125-year-old department store Sears, which filed for bankruptcy in October. Amazon has a "good story" to tell around how it's "improving the lives of customers", Bezos reportedly said.

Bezos added that Amazon's job is to delay failure for as long as possible by focussing on its customers. "It's reasonable for large institutions of any kind, whether it be companies or governments, to be scrutinized", said Jeff Bezos reported CNBC.

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"If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end".

"It's a fact that we're a large company", Bezos said, according to a recording.

"Several Amazon employees who spoke to CNBC on condition of anonymity said government regulation and potential antitrust violations are "big concerns" when they look to the future of 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.

"The governor and the mayor have made a decision to throw Jeff Bezos nearly $3 billion in subsidies and tax breaks - and throw in a helipad so he doesn't have to take the damn 7 train", said city councilman Jimmy Van Bramer.

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