SEATTLE, WA - JUNE 16: An Amazon logo is seen inside the Amazon corporate headquarters on June 16, 2017 in Seattle, Washington. Amazon announced that it will buy Whole Foods Market, Inc. for over $13 billion. (Photo by David Ryder/Getty Images)
Tech

Amazon will go bankrupt one day, says CEO Jeff Bezos

A few days back Amazon announced about building its headquarters in New York’s Long Island City and the Virginia suburbs of Washington DC. The announcement came after a tough after-hours discussion between cities across the US who offered billions on contribution and investments to pursue Amazon.

But just before the company announced its multi-million dollar projects that are bound to bring more than 25,000 jobs in both the cities, Amazon founder Jeff Bezos had a separate meeting with his employees at the company’s headquarters in Seattle where he was asked some tough questions about the company’s direction going forward.

In the meeting that took place last Thursday, an Amazon employee asked Bezos about the company’s future. The employee wanted to know the lessons the company’s visionary founder had learned from recent turmoil in the retail sector, particularly the bankruptcy of American department store chain, Sears.

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“Amazon is not too big to fail. In fact, I predict one day Amazon will fail. Amazon will go bankrupt. If you look at large companies, their lifespans tend to be 30-plus years, not hundred-plus years,” Bezos said, as heard by the publication in a recording of the meeting.

The goal of everyone at Amazon is to “prolong that demise” Bezos said. He further added that this can be achieved by the company to “obsess over customers”-something he has said in the past as well. “If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end. We have to try and delay that day for as long as possible,” he said.

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