SALT LAKE CITY — Amazon CEO Jeff Bezos says his company will fail, eventually.
What happened: Bezos held an all-hands meeting last week where he announced that the company’s end is inevitable, according to a report from CNBC, which received a recording of the meeting.
- During the meeting, someone asked Bezos about Sears going bankrupt and what that meant for Amazon.
- "Amazon is not too big to fail ... In fact, I predict one day Amazon will fail," Bezos reportedly said. "Amazon will go bankrupt. If you look at large companies, their lifespans tend to be 30-plus years, not a hundred-plus years."
- Bezos said it is important to delay the end as long as possible.
- "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.
Worries: Employees told CNBC they are worried about potential government regulation and antitrust violations.11 comments on this story
- "It's a fact that we're a large company," Bezos said in the meeting. "It's reasonable for large institutions of any kind, whether it be companies or governments, to be scrutinized."
Why it matters: As Business Insider reported, it’s unusual for a company’s chief executive to say the company will end well before its demise. It’s even odder since Bezos heads one of the most successful companies in the world.
Bigger picture: Amazon announced two new locations for its second headquarters this week. The new headquarters will lead to more than 50,000 new employees.