Amazon before the end: Founder Jeff Bezos speaks of bankruptcy

Amazon before the end: Founder Jeff Bezos speaks of bankruptcy
Written by insideindyhomes

Amazon has been badly hit by the wheels. The global corporation has announced a loss of around 3.8 billion US dollars for the first quarter of 2022. A year earlier, the company reported a profit of a good $8 billion for the same period. The gold rush mood seems to have vanished. Amazon CEO Andy Jassy explains the weak results. “The pandemic and the ensuing war in Ukraine have brought unusual growth and challenges.” Persistent inflationary and supply chain pressures are to blame, Jassy said. Amazon founder Jeff Bezos had and still has a different opinion.

Amazon bankruptcy: “We must try to delay this day as long as possible”

Bezos founded Amazon in his garage in 1994. It was he who turned a small online retailer for books into a global corporation. And the company made Bezos the richest man in the world. But Bezos always reacts in a self-reflective way when it comes to his company. And he also knows: “Amazon is not too big to fail.” According to CNBC, Bezos said this to an employee a few years ago. But that’s not all.

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“In fact, I predict that Amazon will fail one day,” the group boss became even clearer. “Amazon will go bankrupt.” Bezos explains that other large companies don’t usually live past 30 years either. There are exceptions, and Bezos knows that too. “Most companies that are several hundred years old are breweries,” he once said with a laugh.

Bezos isn’t worried

When Bezos made these statements, it was in the midst of Amazon’s growth and unprecedented success. And even during the pandemic, business thrived. But now that masks can be removed in many places, people are longing to go out again. The coming months will show whether they will also spend less online and find their way back to brick-and-mortar retail.

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However, the quarterly figures now presented may indicate what the Amazon boss already prophesied in 2018. The end of Amazon. But it’s not that far yet. Because even if the group made a loss of almost 4 billion dollars: Sales were well over 100 billion dollars. On the other hand: Amazon will be exactly 30 years old in 2024. But even if the online retailer were to disappear, that would not worry Bezos, as he said on US television a few years ago. “Because I know there’s nothing I can do about it. Companies come and go.” And according to Bezos, that applies to even the most dazzling and important of their time.

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