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

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

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

Amazon this week announced it was going to expand into two new locations for its second headquarters, dubbed "HQ2", which will mean an increase of roughly 50,000 employees.

"Amazon is not too big to fail", Bezos is heard saying in a recording obtained by CNBC during an all-hands meeting with Seattle employees last week.

Amazon will go bankrupt one day, Jeff Bezos, the CEO of the e-commerce colossus worth nearly $1 trillion, told his employees in a stunning admission. 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.

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

Members of the European Parliament have called on the Amazon CEO, Jeff Bezos, to stop selling Soviet-themed merchandise on the global online shopping platform insisting that it is offends victims of the regime, according to an open letter.

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.

Bezos added that Amazon needed to delay the beginning of the end by continuing to focus on its customers, not the business itself. Bezos repeated the Amazon mantra that customer obsession is the key to prolonging the company's demise, CNBC reported.

"The bloody actions, terror and inhumanity of the Soviet regime affected almost every family in the formerly occupied countries", the letter said, adding that "the tragic consequences of these actions are felt to this day". Over the last eight years alone, the company's workforce has grown 20-fold to over 600,000 employees and its stock price has more than quadrupled since 2013.

Amazon did not immediately respond to Business Insider's request for comment.

Such growth and influence have led to concerns over a future filled with government regulations and potential antitrust violations.