Business

Amazon before the end: Founder Jeff Bezos speaks of bankruptcy

Amazon has fallen heavily under 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.

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Bezos founded Amazon in his garage in 1994. It was he who came from a small online retailer for Books made a global company. And the company made Bezos the richest man in the world. But Bezos always reacts in a self-reflective manner when it comes to his company. And he also knows: “Amazon is not too big to fail.” That’s what Bezos said out loud CNBC 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 is going to 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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The now quarterly figures presented but possibly 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 did a few years ago in the USTV said. “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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