Business

Jeff Bezos says Amazon will go bankrupt one day: report

Updated : November 16, 2018 10:49 PM IST

According to a recording accessed by the channel, Bezos said the only way the company can survive for long is by focusing completely on customers and avoid looking inward.

"It's a fact that we're a large company and whether it be companies or governments, we are to be scrutinised," Bezos was quoted as saying by CNBC.

Jeff Bezos says Amazon will go bankrupt one day: report

Amazon CEO Jeff Bezos, while answering an employee's question on what lessons he has learned from the bankruptcies of Sears and other big retailers, said that "Amazon is not too big to fail" and one day it will fail and will go bankrupt, reported CNBC.

According to a recording accessed by the channel, Bezos said the only way the company can survive for long is by focusing completely on customers and avoid looking inward.

"If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end," he said.

Bezos has earlier addressed the issue of his company's scale with employees. In an earlier all-hands meeting in March, Bezos was asked whether tech companies like Amazon need to be more closely regulated because of their sizable market power and influence.

"It's a fact that we're a large company and whether it be companies or governments, we are to be scrutinised," Bezos was quoted as saying by CNBC.

In the March employee meeting, Bezos said the best way to deal with increased scrutiny is to conduct ourselves in such a way that we come out with flying colors.

He also talked about the importance of distinguishing Amazon's story from other tech companies, the report added.

"Facebook is not the same as Google, and Apple is not the same as Amazon," Bezos said.

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