Amazon, Jeff Bezos, Amazon Basin discussed on WSJ Tech News Briefing


Backslash. Wsj today this coming monday. Jeff bezos will step down as chief executive of amazon basin. Famously started the company by selling used books from his garage. The business expanded rapidly by courting third party sellers on its platform. Here's basil's in one thousand nine hundred nine pitching. What was then still a new concept. Most of the people who are out there that have businesses and they're selling a selection of items or maybe they're micro manufacturers. Whatever they they don't want to be in the internet business they wanna be in whatever business they're in. This is a turnkey solution for them. More than twenty years later amazon has grown to become one of the biggest companies in the world with a market capitalization of more than one point seven trillion dollars. But of course under basil's his leadership amazon has become much more than just an online marketplace that delivers packages with a signature. Smile on the box. It also has a streaming service a grocery arm into lucrative cloud computing unit and its faced criticism for its size and influence its environmental impact and the way it treats its workers so what will post as amazon look like joining us to discuss is our amazon reporter. Dana mattioli hi dana. Hi so dana. Can you just sum up amazon's growth under bazo says it. Ceo how did it go from being dream in a garage to a nearly multi trillion dollar company. Yeah i mean the only way that described the growth of amazon under. Jeff bezos has been astronomical. He went from the germ of an idea that sounded crazy at the time in nineteen ninety-four of shopping on the internet when most people didn't have internet or computers. No one wanted to put their credit card into wine. He took that in the parlayed. That into this massive empire. That's now one of the biggest companies in the world. And how much impact has jeff bezos had. On the day to day running of amazon. You know i think over the twenty five plus years that he's run it he's had outsize influence But the last few years he's really taking a step back and he's acted as this like floating. Ceo that dived into projects that sort of interest him and he doesn't really get involved in the day to day so we don't really anticipate much to really change as he takes on this chairman role since he's sort of an acting that way for the last few years as it is but some of those decisions and policies that were put in place under..

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