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Your CNN account Log in to your CNN account … Our whole history as a company is about taking risks, many of which have failed and many of which will fail, but we’ll continue to take big risks.” “All of them are gigantic investments and they’re all risks. “None of these ideas are guaranteed to work,” Bezos said. “ a very healthy industry and it’s far from a winner-take-all situation.”īezos also listed some of Amazon’s newer bets that Jassy will have to manage, including its telehealth offering, Amazon Care, and its satellite internet effort, Project Kuiper. “I’d say we face intense competition from well-established companies everywhere we do business, in every industry,” Bezos said. (In a statement at the time, Amazon pushed back at the lawsuit, saying the DC attorney general “has it exactly backwards.”) The question came after the District of Columbia filed an antitrust lawsuit against the company Tuesday, alleging it has abused its market dominance in e-commerce to harm competition. While unsuccessful, the motion underscored the criticism Amazon has faced over its treatment of warehouse workers recently, especially following a landmark union drive at one of its warehouses in April, which failed in the face of pushback from the company.ĭuring the shareholder meeting, Bezos was asked about the massive size of Amazon’s business. Jassy will take over an increasingly complex and scrutinized business, as evidenced both by news early Wednesday that Amazon is buying MGM for $8.45 billion and by some of the issues raised at the shareholder meeting shortly after.Īmong the shareholder proposals introduced during the meeting - all of which were voted down - was one that would have allowed an hourly fulfillment associate to serve on the company’s board. When Jassy leaves the top post at AWS to run Amazon, he will be replaced by Tableau CEO Adam Selipsky, the company said in March. “He has the energy needed to keep alive in us what has made us special.”
“He has the highest of high standards and I guarantee Andy will never let the universe make us typical,” Bezos said.
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