How Jeff Bezos Own Amazon | History of amazon owner Jeff Bezos
Is Amazon too big and powerful? Is Jeff Bezos & Amazon taking over the world? This mini-documentary looks at what Amazon is investing in, what Amazon is planning for the future, and the problems Amazon's dominance may cause. We also look at the story of Amazon's rise. (Amazon Jeff Bezos)
Reporters Discuss:
Bezos wants to own the whole economy, right?"
Do you think he will? "I kinda think he will.
Do you think he will? "I kinda think he will.
I kinda think that in like 10 years Jeff Bezos owns every single there is.
Amazon's this trillion-dollar tech company closing 30% of our stores and malls and paying zero in taxes.
Discuss with Jeff Bezos:
The Reporter: How much of the internet do you run?"
Amazon CEO Jeff Bezos: "It's a good question, um, it's a lot though.
Discussion About amazon owner:
When Jeff Bezos founded Amazon, he originally considered naming it Relentless and even registered the domain name Relentless.com which is still active to this day. However, when friends told him the name sounded a bit sinister, he changed it. Fast forward to the present day, and Bezos is the richest man in modern history and has gone from being one man in an office to running a trillion-dollar global empire. And whilst the story of Bezos and Amazon is undeniably inspiring, the real question. where does this story end? Because now more than ever, the name Relentless seems like the perfect fit.
Reporters Reporting About amazon CEO Jeff Bezos:
-Amazon is expanding its presence in the smart home market - the e-commerce giant announced yesterday it has officially closed the deal to buy the home security device company Ring.-It's a reported 1 billion acquisition.-Sold the Washington Post for 250 million dollars to Amazon founder and CEO, Jeff Bezos.
-Amazon announced this week a very big move into the pharmacy business. It sent shockwaves through the industry.
-One billion-dollar acquisition of PillPack. Amazon making a big deal in the self-driving car space.
-The price that Amazon paid was north of a billion dollars. Sold it to Amazon for over a billion dollars. Amazon is buying Wholefoods for nearly 14 billion dollars.
Amazon CEO Jeff Bezos: "It's time to go back to the moon, this time to stay."
Discussion About amazon owner:
Ok, let’s back up a little. Amazon started from humble beginnings in 1994 selling books on the internet, and they even used to ring a bell in the office every time they got a sale. But over the next couple of decades.
Amazon expanded into almost every product category there is, earning it the nickname. The Everything Store, with well over 350 million different products available to buy. And when you think of Amazon this is probably what first comes to mind, Amazon.com the online e-commerce giant. However, the shopping component of Amazon is just a tiny fraction of what it does. And sure, it’s normal for businesses to buy out competitors and enter new markets. But let’s just take a step back to see exactly how large Bezos’ Amazon empire actually, And what that could mean for our future. For a start, they have Amazon Web Services, their computing & cloud services business that essentially powers a huge portion of the entire internet, including Netflix, Twitch, Facebook, Twitter --- and even the CIA. In fact, When AWS has a major outage, it can feel sorta like, the internet is down. and even vacuums and doorbells on the AWS network can stop working. Amazon has also entered the streaming service business. Buying the rights to not only many thousands of popular movies, tv shows, and live events, but also creating their own originals. In fact, Amazon Studios became the first streaming service to receive a Best Picture Oscar nomination for one of its original movies. And, with billions of more dollars reportedly due to be spent next year, it seems production will keep expanding. And they aren’t just stopping at video streaming, they’re big players in the music streaming space too, taking on the likes of Spotify and Apple Music. Which fits very nicely with the fact that Amazon is also one of the industry leaders in the smart speaker market.
Amazon expanded into almost every product category there is, earning it the nickname. The Everything Store, with well over 350 million different products available to buy. And when you think of Amazon this is probably what first comes to mind, Amazon.com the online e-commerce giant. However, the shopping component of Amazon is just a tiny fraction of what it does. And sure, it’s normal for businesses to buy out competitors and enter new markets. But let’s just take a step back to see exactly how large Bezos’ Amazon empire actually, And what that could mean for our future. For a start, they have Amazon Web Services, their computing & cloud services business that essentially powers a huge portion of the entire internet, including Netflix, Twitch, Facebook, Twitter --- and even the CIA. In fact, When AWS has a major outage, it can feel sorta like, the internet is down. and even vacuums and doorbells on the AWS network can stop working. Amazon has also entered the streaming service business. Buying the rights to not only many thousands of popular movies, tv shows, and live events, but also creating their own originals. In fact, Amazon Studios became the first streaming service to receive a Best Picture Oscar nomination for one of its original movies. And, with billions of more dollars reportedly due to be spent next year, it seems production will keep expanding. And they aren’t just stopping at video streaming, they’re big players in the music streaming space too, taking on the likes of Spotify and Apple Music. Which fits very nicely with the fact that Amazon is also one of the industry leaders in the smart speaker market.
And suddenly you start to realize the genius here in the way that so many of their products and services interlink. If you become a member of their subscription service, Amazon Prime. you become part of the Amazon ecosystem - you probably buy a Firestick to watch your Prime video movies, which you can control with your Amazon Alexa, Which you bought from Amazon.com which runs on Amazon web services. There’s this synergy between everything that means once you’re in, you’re unlikely to leave because everything's connected. And this is just going to keep expanding; for example, they’ve announced plans for an online pharmacy with discount pharma prices available for prime members. And as Amazon systematically tries to embed itself in almost every area of your life,
from managing your photos to delivering your groceries, it’s understandable. Some people have concerns about the sheer amount of data Amazon are going to have on you.
But, the thing is, right now we’re just talking about some of the popular consumer products and services under the Amazon label,
in terms of Amazon’s overall empire, we haven’t even begun to scratch the surface yet. For example, Amazon is developing cutting-edge AI facial recognition technology that they are selling directly to law enforcement. Which on the one hand is helping police find criminals. But on the other hand, is largely untested and unregulated, yet they’ve also had talks about selling it to Immigrations and customs enforcement, and the US military. And this isn’t Amazon’s first deal in this area at all. A BBC documentary about Amazon claimed that “Police have turned into Avon salespeople for Amazon Ring”, a product which markets itself as a ‘smart video doorbell with a built-in Camera & WIFI’, that police are now recommending to people for security.
Amazon is also currently working on other futuristic projects like
drone deliveries and AI robots for the home.
Ironically, in 2018 a Guardian article wrote that: Of the top 10 US industries by GDP,
Amazon has a finger in all but real estate.
In 2019, articles started popping up about Amazon entering real estate.
Even websites you may currently use yourself, like IMDB and GoodReads, are subsidiaries of amazon. The thing is, Bezos has managed to brand Amazon in a way where no market is off-limits for them, in other words, they have incredible brand elasticity, where Amazon can enter any market and people will go ‘yeah, I guess that makes sense. For example, if other huge brands like Coca-Cola or Samsung said they were opening physical grocery stores it would be weird, but when Amazon says that, It’s not that surprising.
This brings us to Amazon’s plans to not just beat the high street but to become the high street. In case you haven’t seen it,
Amazon is planning to reinvent the physical shopping experience too.
Likewise, when you hear Amazon is planning to launch more than 3,000 satellites into orbit to supply the world with high-speed internet. that’s not surprising either. Same with their plans for a 3-million-square-foot air hub for the fleets of planes. They’ve been buying. Or their purchase of self-driving car company, Zoox. Again, whilst these big projects all seem unrelated. you can also see how these different pieces may all later connect together, for example, driverless vehicles delivering your Amazon packages. Because vertical integration is definitely at the heart of Amazon’s success. They essentially want to own the whole supply chain; they want to make the products themselves. Store the products themselves, sell the products through their own platform, and accept payment with their own payment gateway, and then deliver the products with their own delivery teams. And I just want to be clear that from a customer perspective I love Amazon, I think what they’re doing is exciting, and I obviously don’t actually think. Bezos is some kind of supervillain even if he does look a bit like one, but, I do think it’s easy to see why there is some concern about Bezos entering so many different markets, given the incredible amount of resources he and Amazon have. And no, currently they don’t match the definition of a monopoly in any of the markets they’re in because they still have plenty of competition. In fact, Amazon’s competition is... almost everyone.
However, what some people think is the problem, is that so many of their own competitors depend on Amazon. A lot of their competitors use Amazon Web Services or sell through Amazon.com’s third-party seller marketplace. And whilst they technically have the choice to do that. Let’s look at an example. Many book publishers have had negotiations with Amazon. Over e-book pricing, to which Amazon can essentially dictate the price they want, Because if the publishers don’t agree, Amazon can simply stop showing the books from that publisher, Causing their sales to tank since most people buy books from amazon.
Likewise with individuals selling their own products through Amazon,
many have reported that if they find a hit product that’s selling well, Amazon will simply create their own version of the product, and show it higher up in search results. And if the original seller lowers their prices to try and compete, Amazon will just lower their price too. In fact, for many years Amazon prioritized growth over profit and has a track record of temporarily making a loss on items in order to be cheaper than competitors. So competitors go out of business, and then amazon can re-raise their prices if they want. And whilst this can be harsh, it’s nothing new; some economists may say it’s simply good business, but others may say that Amazon being both a platform and a retailer that sells through that same platform is a dangerous conflict of interests and that the anti-competitive tactics used by Amazon are cause for concern. And of course, given Amazon’s seemingly infinite resources and connections, It’s not exactly unrealistic to imagine Amazon’s dominance in almost every market growing and growing, until Jeff Bezos essentially wins capitalism.
So you could argue, Amazon’s biggest competition and the threat is probably the government, and some senior figures are already raising big concerns about Amazon’s dominance. Technically Amazon doesn’t violate any antitrust laws right now, but that’s partly because their tactics hurt other businesses, not customers. In fact, Amazon’s leverage over competitors is mostly leading to lower prices for the end consumer. So it raises the interesting question of whether Amazon’s continued growth is a good thing?
Some people would say if amazon keeps innovating, keep lowering prices, keep improving delivery speeds, then that’s what matters. After all, they are renowned for incredible customer service and putting the consumer first. But some other people would say, at what cost? Are their employees treated fairly to achieve those great results? And if independent stores can’t compete does that hurt our communities and small business owners? Especially when you consider Amazon get massive tax breaks for many of their innovative programs, which small businesses simply can’t compete with. Likewise, some people argue that the vast amount of data Amazon has on everyone from all these different companies and products they have, allows them to understand consumers in a way most companies simply can’t, which will allow Amazon to continually stay ahead of the game.
And finally, in even more extreme cases,
some people would argue we should all be wary of trusting Amazon.
More than half of all sales on Amazon’s main shopping site come from third-party sellers who send their items into Amazon, and Amazon handles the rest because of their incredible infrastructure. But, Amazon’s terms and conditions state ‘third party sellers are responsible for the safety of these items, not Amazon themselves, and this concerns some people because a lot of these third-party sellers are not established businesses. They're just random individuals trying to make some money on the side. And so if they send in counterfeit or faulty items. It’s entirely possible, they will get mixed in with genuine items in Amazon warehouses. and so you’re never fully sure who provided the item you’re buying, and whether it’s authentic. And again, I would just like to stress I buy from Amazon regularly and don’t mean this as an attack on Amazon, but I do think all of this is interesting to consider. If Amazon is going to have so much control and power, do they also need more responsibility? I’d be curious to hear your thoughts in the comments.
However, for me personally, the final and most interesting question of all is what is Jeff Bezos’ end game? Admittedly, most of his wealth is currently tied up in shares, but there’s still no question that he has more money than anyone could ever spend in a lifetime, and yet he continues to work incredibly hard and shows no signs of slowing down at all. I think it’s clear Bezos wants to keep expanding into even more industries and keep buying out even more companies. In other words, he wants to stay relentless.
And this has actually led to him coming under a lot of scrutinies recently, especially as he doesn’t seem to give as much of his money away to charity as some might expect. So you start to wonder. What is he going to do with all that wealth and power? And this could be the answer. Even from just 5 years old, Bezos says he’s been fascinated by the idea of space travel, and so is spending an increasing amount of time and money on his space company Blue Origin. According to
On their website, they say “we must go to space to tap its unlimited resources and energy. And so you start to think that perhaps world domination is not the end goal for Jeff Bezos, at least, not this world.
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