Tag Archives: Amazon

Jeff Bezos reveals his replacement as Amazon CEO.

Advertisements

Jeff said being Amazon CEO is exhausting and consuming as he hand over.

World’s richest business tycoon, Jeff Bezos has confirmed his retirement as Amazon CEO after years of tangible activeness.

File Photo: Jeff Bezos, CEO of Amazon Group | Noble Reporters Media | Adigun Michael Olamide | NoRM News

According to the February 2 announcement, Bezos will be replaced by Andy Jassy.

His replacement, Jassy has worked for Amazon since 1997 and currently serves as CEO of the company’s cloud business, Amazon Web Services.

File Photo: Andy Jassy, CEO, Amazon Web Services since 1997 | Noble Reporters Media | Adigun Michael Olamide | NoRM News

Bezos said in a letter to employees Tuesday that he is delighted to take the next step.

Story Source: Noble Reporters Media

Advertisements

#Newsworthy

World’s richest, Jeff Bezos considers ‘stepping down’ as Amazon CEO.

Advertisements

His replacement, Jassy has worked for Amazon since 1997 and currently serves as CEO of the company’s cloud business, Amazon Web Services.

The world’s richest man, Jeff Bezos is set to step down as Amazon CEO and transition to the role of executive chair, later this year the company has announced.

According to the February 2 announcement, Bezos will be replaced by Andy Jassy.

Advertisements

Bezos has been Amazon’s CEO since it was established in 1995 and grew the company from an online bookseller into a $1.7 trillion global retail and logistics Heavyweight.

His replacement, Jassy has worked for Amazon since 1997 and currently serves as CEO of the company’s cloud business, Amazon Web Services.

Bezos said in a letter to employees Tuesday that he is delighted to take the next step.

“Being the CEO of Amazon is a deep responsibility, and it’s consuming,” Bezos wrote.

Advertisements

“When you have a responsibility like that, it’s hard to put attention on anything else. As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”

The news came as part of Amazon’s fourth-quarter earnings report. The company’s stock has grown nearly 69% over the past year.

Advertisements

#Newsworthy

Amazon, Apple, Facebook & Google too strong – Antitrust warns

Advertisements

Amazon, Apple, Google and Facebook are too powerful and will likely emerge from the coronavirus pandemic even stronger, the head of a US congressional antitrust committee said Wednesday at a high-stakes hearing featuring the CEOs of the four US tech giants.

“Simply put, they have too much power,” Representative David Cicilline said in his opening remarks at the hearing expected to feature a grilling of the leaders of the technology companies.

“Whether it’s through self-preferencing, predatory pricing, or requiring users to buy additional products, the dominant platforms have wielded their power in destructive, harmful ways in order to expand,” the Democrat from Rhode Island said.

“Prior to the COVID-19 pandemic, these corporations already stood out as titans in our economy,” Cicilline said. “In the wake of COVID-19, however, they are likely to emerge stronger and more powerful than ever before.”

Advertisements

Republican Representative Jim Sensenbrenner struck a more moderate tone, saying “being big is not inherently bad.”

“Quite the opposite, in America you should be rewarded for success,” Sensenbrenner said.

The unprecedented joint appearance — remotely by video — before the House Judiciary subcommittee features Tim Cook of Apple, Jeff Bezos of Amazon, Mark Zuckerberg of Facebook and Sundar Pichai of Google and its parent firm Alphabet.

The hearing is part of a probe into the competitive market landscape and antitrust law, but questioning is likely to veer into other areas such as hate speech and content moderation, economic inequality, privacy and data protection and even claims of political “bias” from President Donald Trump and his allies.

Advertisements

Ahead of the hearing, the top executives of the firms sought to offer an upbeat assessment of the tech landscape, highlighting their roots and values and how the companies have benefitted average Americans.

“An important way we contribute is by building products that are helpful to American users in moments big and small, whether they are looking for a faster route home, learning how to cook a new dish on YouTube, or growing a small business,” Pichai said in his remarks.

Only in America
Cook said Apple is “a uniquely American company whose success is only possible in this country,” and that the California giant is “motivated by the mission to put things into the world that enrich people’s lives.”

Bezos, in his first appearance before a congressional committee, spoke of his modest upbringing and initial backing from his parents to start Amazon and its early losses of billions of dollars.

Advertisements

“I walked away from a steady job into a Seattle garage to found my startup, fully understanding that it might not work,” said Bezos, who is the world’s richest person based on his Amazon stake.

Zuckerberg called social media colossus Facebook a “proudly American company” and added that “our story would not have been possible without US laws that encourage competition and innovation.”

But hours ahead of the hearing, fast-growing video app TikTok accused Facebook of “maligning attacks” that are part of a movement “disguised as patriotism and designed to put an end to our very presence in the US.”

TikTok welcomes “fair competition” chief executive Kevin Mayer said in a blog post while adding that “without TikTok, American advertisers would again be left with few choices.”

Advertisements

Political theatre?
The hearing is part of a congressional probe into “online platforms and market power” and takes place against a backdrop of antitrust investigations in the United States, Europe and elsewhere.

Current US antitrust laws make it difficult for enforcers to target companies simply for being large or dominant without also showing harm to consumers or abuse of market power.

The committee, however, could lay a blueprint for antitrust in the digital era that would require a fundamental rewrite of the century-old competition rules.

Some analysts say the hearing could offer fresh insights into how Big Tech “platforms” squelch competition by buying rivals or copying products from rivals.

Advertisements

Apple’s hefty commissions for its App Store and Amazon’s dealings with third-party sellers are expected to come under scrutiny.

Google, which has faced antitrust investigations in Europe, will face questions on whether it favours its own services to the detriment of rivals and Facebook for its dominance of the social media landscape including its acquisitions of Instagram and WhatsApp.

Robert Atkinson of the Information Technology and Innovation Foundation, a think tank often aligned with the sector, said the political theatre may distract from the issue of competition and focus on issues “from privacy to political speech.”

“These companies create enormous value for hundreds of millions of users and small businesses,” Atkinson said. “Congress shouldn’t twist antitrust law to launch an ill-defined broadside on internet platforms as a class.”


#Newsworthy…

Amazon, Jeff to acquire autonomous start-up

Advertisements

Amazon announced Friday that it will acquire Zoox, a self-driving startup founded in 2014 that has raised nearly $1 billion in funding and which aims to develop autonomous driving technology, including vehicles, for the purposes of providing a full-stack solution for ride-hailing.

Zoox will continue to exist as a standalone business, according to Amazon’s announcement, with current CEO Aicha Evans continuing in her role, as well as CTO and co-founder Jesse Levinson. Their overall company mission will also remain the same, the release notes. The Financial Time reports that the deal is worth $1.2 billion.

The Wall Street Journal had reported at the end of May that Amazon was looking at Zoox as a potential acquisition target, and that the deal had reached the advanced stages.

Zoox has chosen one of the most expensive possible paths in the autonomous driving industry, seeking to build a fit-for-purpose self-driving passenger vehicle from the ground up, along with the software and AI end to provide its autonomous driving capabilities. Zoox has done some notable cost-cutting in the past year, and it brought in CEO Evans in early 2019 from Intel, likely with an eye toward leveraging her experience to help the company move toward commercialization.

Advertisements

With a deep-pocketed parent like Amazon, Zoox should gain the runway it needs to keep up with its primary rival — Waymo, which originated as Google’s self-driving car project, and which counts Google owner Alphabet as its corporate owner.

Amazon has been working on its own autonomous vehicle technology projects, including its last-mile delivery robots, which are six-wheeled sidewalk-treading bots designed to carry small packages to customer homes. The company has also invested in autonomous driving startup Aurora, and it has tested self-driving trucks powered by self-driving freight startup Embark.

The Zoox acquisition is specifically aimed at helping the startup “bring their vision of autonomous ride-hailing to reality,” according to Amazon, so this doesn’t look to be immediately focused on Amazon’s logistics operations for package delivery. But Zoox’s ground-up technology, which includes developing zero-emission vehicles built specifically for autonomous use, could easily translate to that side of Amazon’s operations.

Meanwhile, if Zoox really does remain on course for passenger ride-hailing, that could open up a whole new market for Amazon — one which would put it head-to-head with Uber and Lyft once the autonomous driving technology matures.


#Newsworthy...

Advertisements