Amazon: Slow transition to the top and profits tripled to 8.1 billion

For the first time in its history, Amazon surpassed $ 100 billion in quarterly sales, tripling profits over the same period last year. It happened in February, and perhaps it seemed like a good time for Jeff Bezos to loosen up a bit, passing the reins into the hands of his dolphin Andy Jassy. It is the first time in almost 30 years that the CEO chair has been occupied by a person other than 57-year-old Bezos, who his collaborators describe as tireless and irrepressible “almost like a puppy, able to run for hours without ever getting tired” according to the one who was his assistant from 2002 to 2005. The Bezos-Jassy transition appears to be smooth and devoid of major changes. Jassy is a longtime protege of the tycoon, and is infused with corporate culture from head to toe. He is, for example, among those who helped to devise the 14 “business principles” that guide the path of the Seattle giant. Many have defined him as the shadow of Bezos, or even a “double” of him, capable of being the eyes and ears of the CEO during meetings. Formally presented as a technical assistant, he has always been in copy in all emails, updated on every move, alongside Bezos at the end of each working day to prepare for new challenges. Now that he takes over as CEO, the new shadow of Bezos (who moves to an executive role on the board) becomes another loyal loyalist, Colin Bryar.Jassy is the one who, according to the inner circle of top management Amazon, can best replace him. to Bezos at the helm of the colossus, which in this period of great expansion is however facing a series of challenges. Amazon is an example of a “garage startup” in the true sense of the word. Bezos was just 30 years old and was vice president of a hedge fund when he came up with the idea of ​​launching an online bookstore. It was 1994. From the idea to the realization, the step was short: Bezos left everything and moved to Seattle, where he bought a house in the suburbs and founded his company right in the garage. It was supposed to be called “Cadabra”, but then Jeff thinks about it, it sounds too much like a macabre “corpse”. So let Amazon be, from day one. “The largest bookstore on Earth” is the claim on the homepage of the first Amazon site, inaugurated on July 16, 1995, 26 years ago. One million titles, lower prices than in physical bookstores, a fast and efficient system: only in the first month it sells in all US states and in 45 countries around the world. In 1997 Bezos is a millionaire, the dot-com bubble explodes without hurting him. Amazon grows, expands its focus – not only sales, but also device production, cloud-computing, entertainment. All under the farsighted and adventurous guidance of Bezos, who puts growth before profit, without fear of investing in new projects. Some call him reckless. It is said that when the CFO then in charge asked him how much he wanted to invest to create the Kindle, Bezos replied, “Well, how much do we have in cash?”. The richest man in the world has also become a symbol of all that. that there is wrong with the distribution of wealth, the target of politics and activists who see it as an emblem of the uncontrolled power of large companies. He is also a character: famous all over the world, regular guest at the Oscars, disliked by Trump (whose patrimony exceeds 37 times) because he is seen as the mastermind behind the attacks by the Washington Post, which he owns, on the former president. . And Amazon in this period is under attack from national and foreign antitrust regulators, as well as the center of controversy and lawsuits over the working conditions of employees for some time. The passage of the reins in the hands of the more calm and malleable (at least in appearance) Jassy could make life easier for the online shopping giant, which would lose the scapegoat features of all the real or alleged sins of its founder.

1 thought on “Amazon: Slow transition to the top and profits tripled to 8.1 billion”

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