6. October 2017
Source: The Wall Street Journal
Amazon has hired some 1,000 newly minted M.B.A.s in the past year
Jewel Lai, center, a student at Dartmouth’s Tuck School of Business, spoke with Lindsey Windham, right, a senior marketing manager at Amazon, after a Sept. 19 information session led by Tuck alumni working at Amazon.
Amazon.com Inc., disrupter of industries from book selling to grocery shopping, has found its latest sector to upend—recruiting at the nation’s elite business schools.
The Seattle-based retail giant is now the top recruiter at the business schools of Carnegie Mellon University, Duke University and University of California, Berkeley. It is the biggest internship destination for first-year M.B.A.s at the University of Michigan, Massachusetts Institute of Technology, Dartmouth College and Duke. Amazon took in more interns from the University of Chicago’s Booth School of Business than either Bain & Co. or McKinsey & Co., which were until recently among the school’s top hirers of interns, according to Madhav Rajan, Booth’s dean. Read the rest of this entry »
20. July 2017
Source: The Economist
Today the world’s largest software company reports earnings for the second quarter. Its share price is at an all-time high, elevated by expectations that the chief executive, Satya Nadella, will continue to transform the company and develop new business lines.
Mr Nadella, who is enthusiastic about artificial intelligence (AI), wants Microsoft to become an “AI-first” firm. He has pumped more time and money into Azure, its cloud-computing business, hopeful that it will account for much of the firm’s future growth.
But the company faces stiff competition from deep-pocketed rivals, such as Amazon and Google. Jefferies, an investment bank, reckons Azure will chalk up around $5bn in sales in 2017, or 21% of the market—an impressive sum but far less than Amazon Web Services, with 71%. Investors will be looking for clues as to how much new cloud business Microsoft has won. When expectations are great, even good results can disappoint.
3. June 2017
Source: The Guardian
Bezos, whose wealth has risen by $20bn in five months, could take Bill Gates’s crown within days if Amazon shares keep soaring
Jeff Bezos founded Amazon in 1994, the early days of the internet, selling books from his garage in Seattle.
Just a few dollars more on the Amazon share price and the world will have a new richest man. Jeff Bezos, the company’s founder, is on the brink of overtaking Bill Gates to become the wealthiest person on the planet.
Bezos, 53, has been having a very good year. His net worth has risen by almost $20bn (£16bn) in the past five months to $85.2bn, putting him just behind Gates, the co-founder of Microsoft, who is valued at $89.3bn, according to the Bloomberg Billionaires Index.
Bezos’ fortune has soared thanks to a sharp rise in Amazon’s share price, which has gone up by one-third so far in 2017, valuing the company at $475bn and Bezos’s stake of roughly 17% at more than $80bn. If Amazon shares continue to rise at the same pace, Bezos will become the richest person in the world within days. Read the rest of this entry »
13. April 2017
Source: The Wall Street Journal
In a shareholder letter, Mr. Bezos stressed the importance of putting customers first and staying nimble
Amazon.com CEO Jeff Bezos earned a base salary of $81,840 last year, and because of his large stake in the company, has never taken stock-based compensation.
Amazon.com Inc. Chief Executive Jeff Bezos says he recently thought a new show the Amazon Studios team was considering was too boring and complicated to produce. But he gave it the green light anyway because the team thought it had potential.
Mr. Bezos told his team, “I disagree and commit and hope it becomes the most watched thing we’ve ever made,” he wrote in a shareholder letter published Wednesday. “Consider how much slower this decision cycle would have been if the team had actually had to convince me rather than simply get my commitment.”
The letter, an annual exercise, offers a window into Mr. Bezos’s management philosophy, describing how he can disagree with employees but still back their projects, as well as his opposition to relying on market research and other core company tenets.
Amazon also released data on compensation, which showed Andy Jassy, who runs the Amazon Web Services cloud division, was the top earner at $35.6 million last year, including stock awards. Read the rest of this entry »
2. June 2016
Source: The Wall Street Journal
A timeline of the company’s history
Amazon has grown from a pure online bookseller to one offering a dizzying array of products, services and devices. Today, Amazon competes with media companies like Netflix, hardware makers like Apple, search and advertising firms like Google and even Uber in on-demand transportation and delivery—not to mention traditional brick-and-mortar retailers.
21. January 2016
Source: The New York Times
There’s a little parlor game that people in Silicon Valley like to play. Let’s call it, Who’s Losing?
There are currently four undisputed rulers of the consumer technology industry: Amazon, Apple, Facebook and Google, now a unit of a parent company called Alphabet. And there’s one more, Microsoft, whose influence once looked on the wane, but which is now rebounding.
So which of these five is losing? A year ago, it was Google that looked to be in a tough spot as its ad business appeared more vulnerable to Facebook’s rise. Now, Google is looking up, and it’s Apple, hit by rising worries about a slowdown in iPhone sales, that may be headed for some pain. Over the next couple of weeks, as these companies issue earnings that show how they finished 2015, the state of play may shift once more.
But don’t expect it to shift much. Asking “who’s losing?” misses a larger truth about how thoroughly Amazon, Apple, Facebook, Google and Microsoft now lord over all that happens in tech. Read the rest of this entry »
23. August 2015
The harsh workplace that a New York Times story recently described plaguing Amazon represents an old-fashioned business model that will almost certainly disappear soon.
This week, a New York Times profile of Amazon’s treatment of employees has provoked a debate about the future of the workplace.
The article claims that Amazon’s professional employees are well paid and work on world-changing projects, but are pushed to the breaking point in a survival-of-the-fittest climate where they tend to burn out and leave quickly.
Readers, including Amazon CEO Jeff Bezos, say they are appalled by the anecdotes of insensitivity in the Times report. But the controversy has raised the possibility that the underlying business model portrayed in the article is legitimate or perhaps inevitable. The Times article quotes an ex-Amazon employee who says CEO Jeff Bezos has envisioned a “new workplace: fluid but tough, with employees staying only a short time and employers demanding the maximum.” Read the rest of this entry »