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

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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

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Snapchat is growing faster than it has in years

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Snapchat announces new climate plan

Snapchat’s parent company has continued to see record growth – and profit – of the platform

Just a couple of years ago, there were concerns that Snap, the parent company of Snapchat, wouldn’t survive as a standalone company, but the social media platform is growing faster than it has since 2017.

The camera-based messaging app stated it added 13 million daily users during the second quarter of this year – a 23 percent increase from the same time a year ago.

That means 293 million people use Snapchat every day around the world, up from 173 million this time four years ago.

Snapchat’s revenue has also soared 116 percent to $982 million – making it a faster growing business than Twitter or Facebook

Snap CEO Evan Spiegel has said he expects the app’s user base to actually grow faster as pandemic lockdowns end, since Snapchat is designed to be used out and about with friends.

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Battle of the Crown: Star Entertainment ditches bid

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Australia’s Star Entertainment Group has ditched a bid to merge with Crown Resorts

In the latest showdown in the battle for the Aussie Casinos – Star proposed a merger bid back in May worth $12 billion.

Star Entertainment operates casinos in Sydney, Gold Coast, and Brisbane while Crown operates venues in Melbourne and Perth, while a built casino in Sydney hasn’t been granted permission to open.

The Star merger with Crown would have created an Australian gaming and hospitality giant with a total market value of $12 billion AUD.

Crown shares dive following Star’s announcement

Shares fell as much as 4.2% in early trading today, cleaving its market value to $6.7 billion.

Star, which is best known for its casino in Sydney, said it “remains open to exploring potential value-enhancing opportunities with Crown,” though engagement with Crown on the merger plan had been “limited.” It said it will closely monitor the outcome of the Melbourne investigation, as well as a concurrent probe into Crown’s Perth casino.

In a separate statement, Crown said it remains “willing to engage” with Star in relation to a potential merger. “The board is committed to maximizing value for all Crown shareholders and will carefully consider any proposal that is consistent with this objective,” it said.

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Why businesses should be tapping into the world of eSports

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Gaming has run a parallel race with tech businesses for years now with many industries embracing the competitive advantages.

CARLOS ALIMURUNG EXPLAINS THE PERKS OF MOBILE GAMING

It’s no secret that eSports is an area that many gamers imagined thriving since the early days of couch multiplayer – Businesses are now witnessing the momentum first-hand with companies such as ONE eSports acting as a vanguard to this new era.

CEO of ONE eSports, Carlos Alimurung was able to shine some light on the industry looking to explain the benefits for players, sponsors, and streamers.

Mobile gaming, whilst often considered “beneath” many traditional gamers have seen exponential growth with the power of smartphones and mobile devices increasing significantly, and eSports teams have noticed the potential of the games on offer and the convenience with which the platforms contain.

Celebrating the narrative of content creators and players within the industry is another area boasted by ONE eSports as they encourage and promote the players, seeing them as no different to athletes seen on a field, court, or even the Olympics. Though as Carlos explains “eSports doesn’t need the Olympics” – A wonderful expression of confidence for a passionate group of gamers desiring to be taken seriously.

Balancing a traditionally male-dominated industry can be a challenging task for a lot of big businesses which look to make a difference.

Articles outlining the struggles of female employees within game development are rife and deeply troubling, with major developers coming under fire for their response to the traumatic experiences inflicted upon women in the gaming industry.

INCLUSION IS PART OF THEIR INDUSTRY MISSION

They seek to enable and uplift players, streamers, and content creators of all genders to succeed – a breath of fresh air in an otherwise tainted space.

The numbers of female players look to increase with nearly 47% of gamers already being female there is plenty of room to see growth within eSports. (It doesn’t matter what gender you are when you’re on the business end of a no-scope trick shot in the arena!)

carlos alimurung gives insight into the business branding within esports

With brands like Netflix looking to get involved in the gaming industry, it is no longer a question of how but when other major companies will look to plug in and play.

Brands will also need to get smart about how their marketing will be presented to a younger more active audience (without hitting players over the head with it) Games like the basketball simulator: NBA 2K21 integrated unskippible advertising during loading screens which saw fans upset with being force-fed content onto their screens.

And whilst some could argue this made the game more authentic as advertising of course coats the sporting space, there are definitely more clever ways to do this… the spectacle of an esports arena for instance and the opportunities available have untapped potential, again the key is to be clever with the integration of marketing to Gen Z.

EXPANDING REACH

eSport will continue to expand its traditional reach from North America and Southeast Asia through onto Australian shores the question again, is not how but when this will occur as many Aussie gamers go without representation and limited faculty on home soil.

With the pandemic and vaccine rollout yet to play out in full there is a great opportunity to expand the digital market and competitive gaming space worldwide.

For the full chat with Carlos and more gaming goodness check out the rest of Ticker Gaming

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