Jeff Bezos steps down as Amazon CEO


Amazon's founder and ceo. Jeff bezos announced this week that he is going to become executive chairman of the company and the new ceo will be andy jesse. Currently the head of amazon web services amazon is twenty six years old. and obviously it's massive and has ideas to do everything from package delivery to television production too smart. Microwaves to artificial intelligence. And obviously it's huge an incredibly profitable cloud business amazon's ambition and reach is legendary but with betas taking on a new role. Could that change. It's a topic for quality assurance where we take a look at big tech story. Stone is a senior executive editor for bloomberg. He's written one book on amazon and has another one coming out this spring. I asked him if amazon might start to focus more on the gold. Mine of its cloud amazon actually has kind of two of those gold mines. You mentioned one. aws the other one is advertising. And it's been this kind of quiet force gobbling up market share in online advertising. And you know for the last ten years. It's investors have been wholly on board with amazon not returning that money to shareholders not showing you know a big profit although they've been getting better in that regard but investing and inventing new things to the extent that its shareholders continue to allow that to happen amazon. Continue to do it now. jeff bezos. He's going to continue to be active in the big decisions and working on new projects and executive chairman. There's a role that carry some meaning. He's still going to be andy jesse's boss in many ways andy jesse seems formed in the same mould as jeff visas and yet. There are real critiques about the company's treatment of its workers it's wages its approach to climate not even with and i trust. Do we have a sense of whether jazzy might be more responsive to some of those critiques. Right are we going to see a softer gentler amazon. Like a tim. Cook to steve jobs. That's right and in some respects. Maybe chelsea's is while he's sort of cleaved from jeff bezos rib and a lot of ways. He's also different. I mean he's more politically active at the same time amazon. Aws under andy. Jesse sold its face. Recognition software to law enforcement agencies and only paused for a year. When the blm movement became very loud and vocal. So i don't suspect it. I much change particularly with a very loud voice on the board with a lot of sentiment changing. Is that not a good thing. Should jesse be more open to change. Will shareholders have less tolerance for business. As usual i think they're gonna have to start listening more to the voices not only of their frontline employees in the warehouses who do have some real grievances particularly amid the pandemic but to the contractor workforce almost kind of invisible constituency who tries to amazon vans and drop software packages like a lot of companies amazon kind of indulgence itself of this contractor workforce where the healthcare protections fifteen dollar an hour wage protections don't exist and so i think yes i mean they're going to increasingly if they want to get to that next level of growth. Have to listen to some of these concerns brad. Stone is a senior executive editor for bloomberg

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