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Amazon and Jeff Bezos

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#1 Bingo

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Posted 18 June 2017 - 02:53 PM

Amazon's CEO and founder has spent the last two decades proving that his ambition knows no bounds.

Originally founded as an online bookseller, Amazon has since expanded into hardware, cloud services and streaming shows -- often years ahead of its rivals.

"Jeff is crazy -- crazy like a fox," says Nadia Shouraboura, a former Amazon executive who left the company in 2012. "He has a very clear vision and design."

The core vision is essentially to transform the entire retail industry -- one sector at a time. It may have started with books, but Amazon sells its own line of clothing, has experimented with hotel booking and offers grocery deliveries through Amazon Fresh.

With the Whole Foods acquisition, Amazon has the potential to take a bigger chunk of a market that does $600 billion in sales in the U.S. alone.



#2 Bingo

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Posted 18 June 2017 - 03:05 PM

Amazon's $13.7 billion purchase of Whole Foods means the supermarket, and retailing overall, will never be the same.

Grocers will now have to contend with the incredibly rich and powerful competitor whose impact on retail has been so dramatic.

Department stores have shed 46% of their workers since 2001. Store closing announcements are piling up at a record pace.

And retail bankruptcies large and small are up 30%, according to BankruptcyData.com.

They have included well known names across many sectors: GymboreeSports Authority and Payless Shoes have all filed for bankruptcy within the last year.

Sears, the iconic chain that reshaped retailing over the last 100 years, warned earlier this year there is "substantial doubt" it can stay in business.

The Whole Foods acquisition is also scary for grocery workers. Amazon is a leader in the use of robots.

Grocers have been trimming jobs through innovations like self-service checkout lanes.

Amazon is experimenting with a store in its Seattle hometown where customers will buy groceries without even having to go through a checkout line, using an app and computer vision.

Labor leaders voiced concern Friday that Amazon's move into the grocery sector will cost even more retail jobs.

more;  http://money.cnn.com...dex.html?iid=EL


Edited by Bingo, 18 June 2017 - 03:05 PM.

#3 Bingo

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Posted 18 June 2017 - 03:11 PM

Bezos is now worth about $84.6 billion total, leaving him just $5 billion shy of overtaking Gates as the wealthiest person in the world.



#4 johnk

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Posted 18 June 2017 - 04:38 PM

Or to put it another way, he is Seattle's second-richest person.


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