For Jassy, that was spinning up Amazon's nascent cloud-computing business. Shadows typically go on to esteemed roles within the company. "Andy will represent Amazon when Congress or other stakeholders come calling and demanding or requesting hard questions," said John Rossman, an executive at Amazon in the early 2000s and author of "The Amazon Way." "Maybe, in some ways, not being the founder will help him be even more effective at those dialogues." The next iteration of Amazon In interviews, former Amazon employees suggested that Jassy's softer personality, along with the fact that he's not widely known outside of Silicon Valley circles, could end up working to Amazon's advantage as it stares down its critics. He was thrust into the spotlight when he became a direct target of former President Donald Trump. He's now a regular guest at the Oscars and he's steadily increased his presence in the nation's capital by acquiring The Washington Post, among other means. Bezos quipped back: "Well, how much money do we have in the bank?"īezos is the world's richest man, making him the target of politicians and advocates who seek to reduce income inequality and see him as an example of unchecked corporate power. In one noteworthy exchange, former Amazon CFO Tom Szkutak pressed Bezos on Amazon's budget for its nascent project for the Kindle e-reader, which launched in 2007, according to a former Amazon vice president. He took on far-flung projects outside of Amazon, such as founding rocket company Blue Origin, which he has funded by selling billions in Amazon stock.īezos often took the long view on Amazon's business, which involved prioritizing growth over profits, much to Wall Street's dismay. By the mid-2000s, Bezos had begun to expand Amazon's focus beyond online retail and into cloud-computing, video entertainment and devices. We went online with a very fast website and could deliver all the world's books in a shorter period of time at better prices than anyone else in the world."Īfter a successful IPO in 1997 that made Bezos a millionaire, the CEO successfully navigated Amazon through the dot-com bubble. "We built these tables out of desk doors that we purchased from Home Depot. "I remember flying up to Seattle to visit the company in its offices at First Avenue, opposite a free needle clinic in a pretty seedy part of Seattle," John Doerr, an early Amazon investor and chairman of venture firm Kleiner Perkins, told CNBC's "Tech Check" on Friday. Its homepage greeted users with the proclamation of being "Earth's biggest bookstore," spanning one million titles and offering up "consistently low prices." Within the first month of its launch, Amazon had sold books in every state in the U.S. The site opened for business on July 16, 1995. The company was very nearly named "Cadabra," but it sounded too much like "cadaver," so Bezos chose Amazon instead. He quit in 1994 and moved across the country to Seattle, where he bought a house in the suburbs and founded the company that would become Amazon out of his garage. Shaw when he got the idea to launch an online bookstore. Starting Monday - 27 years to the day after Amazon was incorporated - Bezos will transition to executive chair of Amazon's board, handing the CEO title over to his one-time protégé, cloud-computing boss Andy Jassy.īezos is departing the CEO role at a time of great success for the company, with Amazon in February surpassing $100 billion in quarterly sales for the first time.īezos was a vice president at Wall Street hedge fund D.E. Now, after almost three decades, the 57-year-old founder is preparing to funnel his energy toward other pursuits. That image of Bezos captures the relentless drive and energy that would propel Amazon's meteoric rise from an internet bookseller to the world's largest online retailer and cloud computing company. He would do laps and he was never tired," Hiatt said in an interview. Instead, he would run up and down the steps, often, without breaking a sweat. Personal Loans for 670 Credit Score or Lowerīezos refused to take the elevator up to Amazon's 14th floor office in the historic building, commonly referred to as the old PacMed Center, Hiatt recalls. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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