As you’re shopping for Christmas, an Amazon bankruptcy is the last thing anyone’s thinking about.
Except for Amazon’s founder, Jeff Bezos.
Amazon is worth almost a trillion dollars. Jeff Bezos is the richest man in modern history. Which is why last week’s company-wide staff meeting was remarkable.
To the entire Amazon staff, Bezos said, and I’m quoting now, “One day Amazon will fail. Amazon will go bankrupt.” He said, “If you look at large companies, their lifespans tend to be 30-plus years, not 100-plus years.”
Bezos believes that government over-regulation, antitrust lawsuits and slowly deteriorating customer service will someday end Amazon’s reign.
As an example, he used Sears – the Amazon of the 20th century. Its board of directors foolishly believed that Sears was too big to fail.
Bezos is right. Nothing is too big to fail.
Listen to more on Amazon in this Consumer Tech Update.