Magadon
Jeff Bezos Resigns: Read Between the Lines

As Jeff Bezos shocks the world by resigning his position as CEO at Amazon.com, most people think he’s retiring. He’s doing no such thing. Instead, he’s looking to amass even more power by becoming a latterday “railroad baron” by cornering the market on commercial satellite delivery. As we transition from an industrial economy to a post-industrial economy, the new trade lanes will be up in space with those satellites controlling more and more of our day to day lives. If Bezos ends up controlling satellite delivery systems with his company Blue Origin, he will acquire more power than Amazon.com ever gave him.

Jeff Bezos, billionaire founder of Amazon, will step down as chief executive, the company announced on Tuesday.

Bezos, who will remain executive chair, will hand the reins to Andy Jassy, chief executive of Amazon Web Services, the company’s fast-growing cloud computing business.

The surprise news came as Amazon released its latest financial results. Few companies have thrived like Amazon during the coronavirus pandemic, and in the last three months of the year, the company recorded sales of more than $100bn for the first time.

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Bezos, 57, founded Amazon in 1994 and built it into one of the largest companies in the world, amassing a fortune of $185bn. Amazon, which started as an online bookseller, is now a dominant force in cloud computing, groceries, electronics and entertainment, and employs more than 1.1 million people.

“Amazon is what it is because of invention,” said Bezos. “If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention.

“Right now, I see Amazon at its most inventive ever, making it an optimal time for this transition.”

Jeff Bezos resigns from Amazon

Bezos has stepped back from the day-to-day running of Amazon in recent years to pay more attention to his other interests, including space exploration and his ownership of the Washington Post. But his departure as chief executive was unexpected.

Jassy, 52, has long been seen as Bezos’s heir apparent, vying with Jeff Wilke, who ran Amazon’s retail business until he announced plans to retire last year.

Amazon Web Services (AWS) – which provides cloud computing and storage for governments and companies including McDonald’s and Netflix – has become one of the company’s most important businesses, accounting for 10% of sales in the last quarter and 52% of the company’s profits.

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The company had a “record-breaking holiday season” last year, Amazon said, reporting sales of $125.56bn, its largest quarter of all time.

Jeff Bezos resigns from Amazon

The leadership change comes at a strange time for Amazon. While profits continue to surge, it faces pressure from workers who have complained of mistreatment during the pandemic, and increasing political scrutiny of the size and power of its business – not least at AWS.

Last month, AWS declined to host Parler, a would-be Twitter rival popular with Donald Trump supporters, which became a communication hub for the rioters who stormed the US Capitol.

These companies, as they exist today, have monopoly power. All need to be properly regulated

~David Cicilline

Last year, the US Congress grilled Bezos and other top tech executives over the size of their businesses.

“These companies, as they exist today, have monopoly power,” said David Cicilline, chair of the House judiciary committee’s antitrust subcommittee. “Some need to be broken up, all need to be properly regulated and held accountable. This must end.”

Tim Hubbard, assistant professor of management at the University of Notre Dame’s Mendoza College of Business, said: “Andy Jassy stepping into the CEO role at Amazon is a natural fit. Amazon Web Services is a powerhouse within the company, driving a lot of profitability.

“This transition may free up Bezos to focus on other ideas that he’s been accumulating over the years. In one way, I think it might be freeing for him to have the space to personally innovate again, without having to manage the rest of the company.”

Hubbard added: “Given the recent successes at Amazon, especially during the pandemic, it’s going to be hard to disrupt their momentum.”

+6

By Jr

I support Trump!

2 thoughts on “Jeff Bezos Resigns from Amazon: Read Between the Lines”
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  2. Lie: Jeff Bezos steps down as CEO of Amazon.

    Truth: Jeff Bezos has been arrested and his entire wealth has been confiscated. Look for signs that his wealth is now being used to buy up something that will serve the public good. This is the US military using his wealth for the American people.

    Further to point (3) Amazon employees have been told that they may no longer have an employment position in May of this year.

    Why?
    Because the corporation has been seized by the US Military.

    It is possible that CEO of Amazon Jeff Bezos, leased the Castle Rock studios where B*iden Inauguration took place and where he was signing EOs. Bezos wealth was/is required because President Trump activated COGCON 2 before he left the White House.
    This means that most of the federal government is no longer operating out of Washington , D.C. and has instead relocated to it’s designated emerngency alternate locations.
    Therefore, Biden appointee Janet Yellen alleged Secretary of Treasury has NO access to any funds. They (Biden-Harris Administration) needs money badly. Bezos has it.
    But not any more.

    +6
  3. IMHO it’s an acknowledgment that Amazon’s basic business is not doing well and has to be supported by Amazon’s cloud business. And it’s coming under fire as Walmart has been for selling cheap Chinese stuff at high prices to undercut American brands and products, and its labor policies, as well as, for its fleet of gas-guzzling vans and trucks. The latter have been the object of a PR campaign. Advertisements never lie, when you dig below the surface. The acquisition of Whole Foods seems to have become a first-class blunder. No, I think Bezos, has realized that he can’t do it all, and has not, in fact done it very well. On that note, I see Amazon finally trying to improve its website, tho it still seems to like to mislead people into buying what it wants to sell instead of what they’re looking for.

    +5
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