Jeff Bezos: 'I Predict One Day Amazon Will Fail'

Jeff Bezos' company Amazon is probing cases that employees have accepted bribes for internal data

Amazon will go bankrupt.

Jeff Bezos may be the richest man in modern history and at the helm of the second company to join the $1 trillion club, but he has no illusions about Amazon's future.

Earlier this week, Amazon announced that it would build its headquarters in New York's Long Island City area and the Virginia suburbs of Washington DC.

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. "In fact, I predict one day Amazon will fail", Bezos reportedly said when addressing a question about Sears recently going bankrupt.

Bezos added that Amazon's job is to delay failure for as long as possible by focussing on its customers.

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


According to reports, last month, Amazon raised the minimum wage for all employees, including temporary workers, to $15 an hour, putting the company one step ahead of rivals like Walmart and Target in the increasingly competitive holiday hiring season. The company's workforce has grown more than 20-fold in the last eight years, and its stock price has more than quadrupled in the last five years.

"It's a fact that we're a large company", he said, according to a recording obtained by CNBC.

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.

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.

Noting that no two of these tech giants are the same, Bezos said, "I don't want to fight this kind of big tech impression-I want to just talk about Amazon". If a company wants to last over a hundred years, Bezos stated at the same all-hands meeting that he believes alcohol is key, "Most of the companies that are multi-hundred year old companies are breweries".

Related News:

  • F3 driver Sophia Floersch fractures spine after huge airborne crash

    F3 driver Sophia Floersch fractures spine after huge airborne crash

    The race continued after a break of about one hour and was won by 19-year-old British driver Daniel Ticktum. We wish all of the people involved in the crash the very best.
    Couple and

    Couple and "homeless veteran" charged in alleged GoFundMe scam

    Kate McClure and Mark D'Amico were behind a GoFundMe campaign that raised hundreds of thousands of dollars for Johnny Bobbitt. The couple said during the campaign that the money would go to financial trusts, a financial adviser and a lawyer for Mr.
    May fights for survival after Brexit deal sparks crisis Reuters, London

    May fights for survival after Brexit deal sparks crisis Reuters, London

    Some Conservative Brexiteers who are unhappy with the agreement have also been submitting letters of no-confidence in Mrs May. May told LBC radio the threat of a no deal Brexit was personal as she is Type 1 diabetic: "I depend on insulin every day".
  • Star Wars: Galaxy's Edge attraction names released

    Star Wars: Galaxy's Edge attraction names released

    Disney added that there's more music in the works, so you might want to keep those tissues on hand for a while. Also revealed: teaser clips on the two new attractions from Galaxy's Edge .
    Victor  of Fury showdown 'true champion': Wilder

    Victor of Fury showdown 'true champion': Wilder

    Peter knows him in and out. "In this short period of time [new trainers] ain't going to get to know you". I was then selected to box for the North West of England and go to a German Cup tournament which I won.

    Sarita, Manisha Give India Flying Start in World Boxing C’ship

    Manisha, though aware of Dina's reputation, would draw inspiration from her victory over the Kazakh in Poland this September. India have fielded a 10-member squad for the event, with MC Mary Kom leading the charge.
  • UK Leader Warns Ousting her Won't Make Brexit Talks Easier

    UK Leader Warns Ousting her Won't Make Brexit Talks Easier

    He told Sky News there was support in parliament and in Europe for a "unity platform" that avoided a no-deal Brexit. However, if May is unable to get a deal through then a no-deal Brexit becomes the default position.
    Messi meets with Pogba, here’s why

    Messi meets with Pogba, here’s why

    That will probably settle a few United fans' nerves after seeing the images of Pogba with Messi and immediately feared the worst. No doubt stoking the fires of further transfer speculation, Pogba was crystal clear about his intention to play alongside Messi .
    New pictures emerge from Deepika, Ranveers wedding

    New pictures emerge from Deepika, Ranveers wedding

    Fashion designer Sabyasachi Mukherjee too shared a picture as an Instagram story from Ranveer and Deepika's chooda ceremony. On Friday, stylist Nitasha Gaurav shared a group picture from the couple's first event.
  • Why Bitcoin Cash SV is the real victor  of the Hash War

    Why Bitcoin Cash SV is the real victor of the Hash War

    The bitcoin-to-dollar exchange rate has surged 2.21 percent from its previous low at 5291-fiat, now trading at 5408-fiat. Cardano (ADA ) is now at $0.06 against the United States dollars , a -0.48 percent change in the last 24h.
    Browns' stunning option for next head coach: Condoleezza Rice

    Browns' stunning option for next head coach: Condoleezza Rice

    Football returned to Cleveland in 1999 and the Browns have not had a ton of success in terms of actually winning football games. Bush is being eyed by Browns brass for an interview to become head coach, according to an eye-popping ESPN report Sunday .
    Things We Learned From WWE Survivor Series 2011

    Things We Learned From WWE Survivor Series 2011

    The Man was replaced by former rival Charlotte Flair , who was linked with a WrestleMania 35 megamatch with Rousey. Brock is now scheduled to face Daniel Bryan in a champion vs. champion match at Survivor Series on Sunday.


Most liked

Nintendo has no immediate plans for N64 mini
One thing's for sure: one way or another, Nintendo needs to make more of its classic games available this generation. So when supposed photos of the upcoming N64 Classic surfaced last month, fans were understandably happy.

Cleaning Your Baby's Pacifier By Sucking On It May Do Baby Good
Children who grow up with pets also tend to have a lower allergy risk, MacGinnitie said, but that might be explained by genetics. They tracked levels of that protein, the IgE antibody , in 74 infants whose mothers reported using pacifiers .

Instagram security flaw potentially exposed passwords in website URLs
Earlier, The Information website reported on a security flaw that exposed some user passwords. Those affected had used the "Download Your Data" tool that had been added last April.

U.S. denies reaching a conclusion on responsibility for Khashoggi's death
The prosecutor announced charges against 11 alleged participants and said he would seek the death penalty against five of them. In the tightly controlled Arab Kingdom, no "rogue operations" happen, as the Saudi government has claimed in the past.

Kepa Arrizabalaga helps Chelsea fans get one over on Manchester United
Manchester United are plotting an incredible £60million raid for Everton goalkeeper Jordan Pickford , according to reports. Mourinho wants to keep hold of the 24 year old as Marcos Rojo and Phil Jones struggle for fitness.

Frank Field: Worth Giving Theresa May's Brexit Deal "Some Life"
But winning a leadership vote could strengthen her position, because the rules say she can't be challenged again for a year. Aides to some pro-Brexit cabinet ministers have hinted that they wish to change the agreement before it is signed off.

Lost pre-Mickey Mouse cartoon from Disney found in Japan
A 1928 Disney animation, which predates the creation of Mickey Mouse , has been unearthed in Japan , according to Japanese media. Of course, any animations Disney did of Oswald are now incredibly valuable, and several have always been thought to be lost.

Ireland stun All Blacks to lay down Rugby World Cup marker
Asked how Ireland have improved, Hansen said: "I think they are fitter; their defence is great". Hansen hailed Ireland as the "No.1 team in the world" at the Aviva Stadium.

Google dedicates doodle to mark 44th anniversary of the Arecibo Message
The equation is used to estimate the number of planets hosting extraterrestrial life within the Milky Way Galaxy. In the 44 years , the message has travelled only 259 trillion miles , a tiny fraction to its final destination.

BlackBerry buys AI specialist, machine learning Cylance for United States dollars 1.4 bln
The company had been considering filing for a stock market floatation, according to a report in Business Insider . Cylance , which was founded in 2015, uses machine learning to preempt security breaches before they occur.

Walker sets Hornets record with 60-point game
Following a timeout, Butler sinked a three-pointer with less than one second left in overtime to secure the Sixers' victory. Walker and the Hornets played hosts to the Philadelphia 76ers , giving us a back-and-forth game that required overtime.

North California fire: Death toll at 76, more than 1,000 missing
Paradise was home to almost 27,000 residents before it was largely incinerated by the blaze on the night of November 8. This patch of California , a former Gold Rush region in the Sierra Nevada foothills, is to some extent Trump country.

Powell sees potential threats from global slowdown
The Fed's goals of both maximum sustainable employment and stable inflation are set by Congress and not to be part of the review. US central bankers are pursuing a policy of gradualism, yet the higher rates have attracted the ire of President Donald Trump.

Federer unimpressed with Zverev boos
However, in the recent times Zverev made some big improvements as well and the win over Roger Federer is just one more proof. Still, Zverev has always been considered a coming force or the next big thing in tennis.

Chinese 5-star hotels apologize after video reveals hygiene horrors
The video purports to show a member of staff lifting a plastic cup lid from a bin and wiping it on their T-shirt. The almost The 12-minute video, posted online earlier this week, shows workers cleaning bathrooms.