Bezos tells employees, “One day, Amazon will fail” along with to stay hungry

Amazon CEO Jeff Bezos, founder of space venture Blue Origin along with owner of The Washington Post, participates in an event hosted by the Air Force Association September 19, 2018 in National Harbor, Maryland. 

Alex Wong | Getty Images

Amazon CEO Jeff Bezos, founder of space venture Blue Origin along with owner of The Washington Post, participates in an event hosted by the Air Force Association September 19, 2018 in National Harbor, Maryland. 

Just days before Amazon announced the big winners of its HQ2 sweepstakes, CEO Jeff Bezos had to address a separate nevertheless related concern among employees: Where is actually all This kind of headed?

At an all-hands meeting last Thursday in Seattle, an employee asked Bezos about Amazon’s future. Specifically, the questioner wanted to know what lessons Bezos has learned through the recent bankruptcies of Sears along with different big retailers.

“Amazon is actually not too big to fail,” Bezos said, in a recording of the meeting of which CNBC has heard. “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 a hundred-plus years.”

The key to prolonging of which demise, Bezos continued, is actually for the company to “obsess over customers” along with to avoid looking inward, worrying about itself.

“If we start to focus on ourselves, instead of focusing on our customers, of which will be the beginning of the end,” he said. “We have to try along with delay of which day for as long as possible.”

Bezos’ comments come at a time of unprecedented success at Amazon, with its core retail business continuing to grow while the company is actually winning the massive cloud-computing market along with gaining rapid adoption of its Alexa voice assistant inside the home.

nevertheless some employees are expressing concern about the pace of expansion. Amazon’s workforce has grown by more than 20-fold inside the last eight years to over 0,000 employees, along with the stock cost has more than quadrupled since 2013.

The company has caught the ire of President Trump, who has employed personal attacks against Bezos, along with is actually today catching flack for demanding of which cities spend a year coming up that has a roster of incentives attractive enough to woo Amazon’s HQ2. This kind of week, the company announced of which will open offices in brand-new York’s Long Island City along with the Virginia suburbs of Washington, D.C., with plans to add 25,000 jobs in each location.

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