CEO Jeff Bezos acknowledges Amazon will one day ‘fail, go bankrupt’

Amazon CEO Jeff Bezos has recently made an astonishing acknowledgement claiming that one day his company will fail and go bankrupt.

In an all-hands meeting with staff, a recording of which was heard by CNBC, retail giant Amazon’s CEO Jeff Bezos predicted that someday Amazon will face its own demise and fail, eventually going bankrupt.

The world’s richest man in modern history, Bezos, made the surprising acknowledgement saying, “Amazon is not too big to fail ... 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.”

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Bezos said that the goal was to delay the inevitable for his 24-year-old firm for as long as possible, which is possible by focusing on customers. “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.”

What makes Bezos’ confession more startling is because Amazon was on top of the world this week. Also, the firm is just faintly below the $1 trillion line and is also regarded as the most fearsome retailer on Earth.

As per Daily Mail, the acknowledgement comes days after the retail giant announced plans to expand to two new locations for its second quarters (HQ2), making jobs for around 50,000 more people.