Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

What will Amazon look like post-Bezos? | ticker VIEWS

Published

on

Amazon founder Jeff Bezos has handed over his CEO reins to the creator of Amazon Web Services

Jeff Bezos will officially step aside as CEO of Amazon, while Andy Jassy takes over the position.

It’s not the last everyone will see of Bezos though, he will stay on as the board’s executive chairman. However, Jassy will take on a lot of pressure, as he inherits the responsibility of the $1.7 trillion e-commerce giant.

The pressure is on for Jassy

Andy Jassy rose to his success during his time at Amazon’s cloud computing business, Amazon Web Services. He is now about to take over the e-commerce empire that employs over 1.3 million people.  Amazon generates more than $400 billion a year in revenue, while still averaging an annual growth rate of 30%.

The company is more valuable than it’s ever been. Amazon is the fourth of the five big tech firms like Apple, Microsoft, and Google’s Alphabet to go beyond founder control. Each of these firms went on to reach new levels of financial success by their subsequent leaders.

This shake-up comes at a critical time for the company. The pandemic saw an increase in consumer demand like never before. However, this only shone a light on the need for heightened regulatory action into the ever-growing empire and its market dominance.

Amazon has also faced growing criticism for its treatment of workers.  However, this is something Bezos has vowed to address as executive chairman.

What’s next for Bezos?

Bezos founded Amazon in his garage 27 years ago. The 57-year-old now has a net worth of $200 billion and will continue to have significant influence at the company. He will remain the largest individual shareholder. As of last month he owned around 51.2 million shares, which equates to about 10%.

It’s unclear how exactly Bezos will govern Amazon from the sidelines. But, the entrepreneur has no doubt created a legacy at Amazon. He defined Amazon’s culture as “customer obsession.” In April, Bezos told investors he would focus on new initiatives to continue to make Amazon a better place to work.

He might be stepping aside but he has plenty of other interests to occupy his time.

Outside of Amazon, he’ll spend more time with his space efforts at Blue Origin. Bezos is planning a joy ride to suborbital space with his best friend and brother, on July 20.

On his Instagram, Bezos has clearly shown his interests in Tinsel Town, posting about Golden Globe wins for Amazon Studios. During his last meeting as CEO, he spoke about re-imagining screen heroes for the 21st century through Amazon’s deal to buy MGM.

Bezos will also focus on his philanthropic efforts and ventures at the Washington Post.

Expert predictions for Amazon

Wall Street experts predict Amazon will surpass supermarket giant Walmart to become the largest U.S. company by annual sales next year. This is according to consensus estimates from FactSet.

Planning for success

Bezos stepping aside after 27 years definitely marks a new era for the e-commerce giant. It’s undeniable that he has revolutionised the streaming, shopping, technology, and internet space forever.

In his final letter to shareholders, Bezos laid out a broad vision for the company’s future, committing to extend Amazon’s famous obsession over its customers to the same level of care for its employees.

The first principle is to Strive to be Earth’s Best Employer, which is to strive for a safer, more productive, more diverse work environment. This urges leaders to ask if their employees are growing, feeling empowered and having fun.

The second principle is Success and Scale Bring Broad Responsibility, which is to strive to be humble. With a focus of the secondary effects of actions, including the planet, communities, customers, and world at large. This urges leaders to leave everything and everyone better than they found them.

Final words before stepping aside

“If you want to be successful in business (in life, actually), you have to create more than you consume. Your goal should be to create value for everyone you interact with. We are all taught to “be yourself.” What I’m really asking you to do is to embrace and be realistic about how much energy it takes to maintain that distinctiveness.”

Jeff Bezos

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

Aussie job market defies expectations with stable 4.1% unemployment rate

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.

Published

on

Australia’s unemployment held at 4.1% in May amid job loss; full-time roles surged, underemployment fell, and female participation rose to 60.9%, keeping RBA cautious despite rate cut speculation.


Australia’s unemployment rate held firm at 4.1% in May, despite a small drop of 2,500 jobs—falling short of forecasts.

But dig deeper: full-time jobs jumped by nearly 39,000, underemployment hit post-COVID lows, and female participation reached a record 60.9%.

With labour market resilience still strong, the Reserve Bank is unlikely to be swayed—though markets see an 80% chance of a July rate cut.

The RBA remains in a balancing act, cooling inflation, without choking growth.

Subscribe for more at https://www.youtube.com/@UCiMroZIXuwlSh1r5wZdeU6Q

#RBA #JobsData #AustraliaEconomy #Unemployment #InterestRates #LabourMarket #tickernews

Continue Reading

Money

Central banks struggle with economic uncertainty and rates

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

Published

on

Central banks face challenges amid economic uncertainty, impacting policy decisions and investor confidence worldwide.

In Short:
Central banks are grappling with economic uncertainty, prompting various interest rate cuts globally to stimulate growth. Many central banks, including those in Norway, Sweden, and Japan, are adjusting rates in response to inflation and trade concerns, while others like the Federal Reserve and the Bank of England are considering future cuts.

Central banks are facing significant uncertainty concerning economic growth and inflation, making their policy decisions increasingly challenging as they approach the end of their rate-cutting cycles.

This uncertainty is also impacting investors. Recently, Norway’s central bank surprised markets with an interest rate cut, while the U.S. Federal Reserve cautioned against relying heavily on its policy projections.

The Swiss National Bank responded to decreasing inflation and economic unpredictability by reducing its benchmark rate to 0% but may consider further cuts. The Bank of Canada has maintained its rate at 2.75%, suggesting a potential future cut in light of tariffs affecting the economy.

Sweden’s central bank cut its key rate as well, aiming to stimulate growth amid weak price pressures.

In New Zealand, expectations are for rates to remain steady after a recent reduction to protect its economy from global trade uncertainties. The European Central Bank has also cut rates, considering further adjustments to meet inflation goals.

The Federal Reserve is keeping rates steady, although further cuts are anticipated due to low inflation. In Britain, the Bank of England held rates but may continue cuts in response to weak labour indicators.

The Reserve Bank of Australia is prepared for rate cuts due to weak growth data and trade tensions, while Norway’s central bank has been cautious with its recent decision. The Bank of Japan remains the only bank in a tightening phase, balancing escalating tensions and tariff concerns with its monetary policies.

Continue Reading

Money

Fed signals slower cuts amid rising risks

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.

Published

on

U.S. Federal Reserve revises economic forecasts downward, expecting growth slowdown and higher unemployment, but still plans rate cuts in 2024 and 2025.


At its latest meeting, the U.S. Federal Reserve revised its economic forecasts downward, with growth trimmed, inflation nudged up, and unemployment expectations now higher.

Despite this gloomier outlook, the Fed still sees two rate cuts in 2025, but just one in 2024 and one in 2026, a major dial-back from earlier projections.

Subscribe for more at https://www.youtube.com/@UCiMroZIXuwlSh1r5wZdeU6Q

#FederalReserve #InterestRates #JeromePowell #Inflation #USEconomy #FedMeeting #tickernews

Continue Reading

Trending Now