Jeff Bezos: ‘One day Amazon will fail’

Credit: DaytonDailyNews

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World’s Richest Person Is Amazon CEO Jeff Bezos

Credit: DaytonDailyNews

Amazon employs more than 613,000 people worldwide and recently announced it is developing its HQ2 in New York and Washington, D.C.

But it's not too big to fail and will eventually go bankrupt, CEO Jeff Bezos told employees Thursday during a company meeting, CNBC reported.

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Bezos, the richest man in modern history, was asked what the company had learned from the bankruptcies of Sears and other big-box retailers.

"Amazon is not too big to fail," Bezos said at the all-hands meeting last week, CNBC reported. "In fact, I predict one day Amazon will fail. Amazon will go bankrupt. If you look at large companies, their lifespans tend to be 30-plus years, not 100-plus years."

Obsessing over customers will prolong the inevitable, Bezos said.

“If we start to focus on ourselves, instead of focusing on our customers, that will be the beginning of the end,” Bezos said. “We have to try and delay that day for as long as possible.”

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