Amazon will go bankrupt one day, CEO Jeff Bezos tells employees

Amazon will go bankrupt one day, CEO Jeff Bezos tells employees

Amazon announced that it would build its headquarters in New York’s Long Island City area and the Virginia suburbs of Washington DC, earlier this week. The good news from the company is that before it announces its multi-million dollar projects, it is bound to bring more than 25,000 jobs in both the cities. The Amazon founder Jeff Bezos had separate meetings with his employees at the company’s headquarters in Seattle where he was asked some tough questions about the company’s direction going forward.

In the meeting that took place last Thursday,  the CEO Bezos was asked by the employee about the company’s future. The employee, as CNBC News points out, wanted to know the lessons the company’s visionary founder had learnt from recent turmoil in the retail sector, particularly the bankruptcy of American department store chain, Sears.

To this questions, Bezos said, “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.  And not a hundred-plus year,”. The words were heard later in the recordings of the same meeting.

Bezos said, The goal of everyone at Amazon is to “prolong that demise”. to his said words, he added that this can be achieved by the company to “obsess over customers”-something he has said in the past as well. “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,” he said.