Jeff Bezos to employees: 'Amazon is not too big to fail'
Amazon chief executive officer Jeff Bezos in an all employees meeting has emphasized that "Amazon is not too big to fail."
Amazon's Jeff Bezos to employees: "Amazon is not too big to fail" / Amazon
According to CNBC, Bezos said: "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."
He further said that one day Amazon will fail but their job is to delay it as long as possible.
The news comes after the announcement that New York City and Northern Virginia are to share the spoils of a second Amazon headquarters in the US after a year-long cross-country bidding war to lure the online retailer.
According to eMarketer, Amazon is expected to capture 48% of all online sales in the U.S. this year, up from 43% in 2017.