Amazon founder and CEO, Jeff Bezos, in a meeting with his employees, reportedly emphasises on the inevitable downfall of all big companies including his own, while also pointing out how the process can be delayed but not dodged. "Amazon is not too big to fail. 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 hundred-plus years," he said.
Amazon US is building its headquarters in New York's Long Island City area and the Virginia suburbs of Washington DC. Before that, Jeff wanted to have his employees in a meeting wherein one of them asked him about Amazon's future, especially at a time when the retail sector has witnessed turmoil and the US economy went through a shake.
"If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end. We have to try and delay that day for as long as possible," Jeff added, emphasising that the goal was to 'prolong the demise'.
Amazon, over the past few years, has notably expanded and presently has more than 550,000 lakh people working for it worldwide.Read More