The stock bubble of Internet projects, which was brewing in the US market in the 1990s, exploded in March 2000. For 27 days – from March 10 to April 6 – NASDAQ shares lost $ 1 trillion. These events literally erased the stocks of online stores such as eToys.com and Pets.com.
In 1997, CEO of Amazon Inc. Jeff Bezos promised to provide long-term value to shareholders, and did everything to keep his word. After a confident exit from technological collapse in 2000, the company systematically developed success and in 2018 grew to a market capitalization of $ 922.9 billion. In the second quarter of the year, the corporation increased sales by 39% to $ 52.9 billion..
The facts about Amazon are not limited to commercial success. Here are ten unobvious achievements of a company that boldly vies for Apple stock market records.
The executive centers of the corporation are filled with the sound of the sound of robotic machines and automatic machines. More than 100,000 robots are working at Amazon to select, sort, and package goods (as of July 2018). While high-tech technology took people from one professional field to another, Amazon cut production costs by 20%. We can safely say that the $ 775 million that Jeff Bezos spent in 2012 on a working Kiva robot is one of the billionaire’s best investments..
2. Patience and peace are the key to success
Amazon is an example of how patience enriches an investor. If you had bought only two shares of AMZN in 1997 for $ 18, you now had assets worth $ 23 thousand in them.
3. Bezos does not pay extra?
In 2017, Jeff Bezos’s salary at Amazon was $ 81,840. And this is not enough for a leader of this level. The average manager in the information technology sector earns about the same amount. But do not forget about the 17% stake in the company. Given that the project’s net profit for the year is estimated at $ 156 billion, it can hardly be said that Bezos does not receive decent payment.
4. No right to downtime
Nothing good happens when the servers of the world’s largest online retailer shut down. According to rough estimates, in 2013, a 40-minute accident cost Amazon $ 4.8 million, that is, $ 120,000 per minute. A similar thing happened in 2018 during Amazon Prime Day, which blocked all international traffic. For Amazon Inc. time is really money. And considerable.
If a gift from the employer in the form of a photo frame for a family photo supports motivation, think about Asana. She gives employees $ 10,000 for board games. But we are talking about Amazon. Do you think corporation employees have the same cool bonuses? You are mistaken. They don’t even get free meals. Moreover, you would have to store a flashlight in your desktop drawer to buy Snickers – they say, to save energy from the vending machines, bulbs were unscrewed.
6. Corporate quirks
Having a good office suite is probably important for Amazon Inc. employees, but listing Microsoft Office Power Point in a resume is useless. The corporation prohibits the use of presentation software during meetings. In accordance with Bezos’s latest letter to shareholders, all meeting participants are encouraged to study current materials in print within 30 minutes at the beginning of each meeting.
7. The value of books
In 1994, when Amazon was just starting out, the main focus for the company was selling books. Amazon’s offer now includes over 20 categories and 150 product subcategories. But consumer electronics and books still dominate the trade. Even though the company has long been offering fiction from virtual shelves, more than a third of buyers ignore this offer..
8. Market destroyer
Amazon has a customer-centric philosophy of operations. Buy anything from anywhere, anytime. No need to pick up the sofa from the store yourself. No need to even visit the store. Everything will be delivered to the doorstep. But convenience is not the only advantage. Online store prices are lower than competitors like Walmart Stores Inc.
9. “Stay in my shoes”
The phrase “this is not my job” does not exist on Amazon. Any employee of the corporation, even the management, even Jeff Bezos himself, is obliged to spend two full-time working days in the support service every two years. This is the same client-centrist philosophy. In addition, this method strengthens the principles of hiring employees who require work where the buyer is always at the forefront.
10. Big brother
The Central Intelligence Agency (CIA) recently signed a $ 600 million cloud storage agreement with Amazon Web Services. Such news was the reason for collecting a mass petition to Bezos with a request not to share customer data with the CIA – and Amazon has more than 162 million of them.
Think about it – most wealthy people have enough money, but at the same time they continue to work and conduct their business from year to year. What for? For them…
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