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Jeff Bezos is coming out of his shell, and it only took $100+ billion to get started:
As he was shaping Amazon into one of the world's most valuable companies, Mr. Bezos developed a reputation as a brilliant but mysterious and coldblooded corporate titan. He preferred to hunker down in Amazon's hometown, Seattle, at least partly because he thought it was better for Amazon's growing business, largely avoiding public causes and the black-tie circuit. But while Mr. Bezos — who at 53 is the world's richest person, with a net worth of more than $100 billion — can afford virtually any luxury, obscurity is no longer among them.
Amazon, now a behemoth valued at more than $600 billion, has become one of the faces of "big tech," along with Apple, Alphabet's Google and Facebook. These companies are facing a backlash. Amazon is under the microscope for what critics say is its corrosive effect on jobs and competition, and Mr. Bezos has become a bête noire for President Trump, who repeatedly singles out him and Amazon for scorn on Twitter. "People are starting to get scared of Amazon," said Steve Case, a co-founder of America Online, who recently started an investment fund focused on start-ups in underserved areas, with Mr. Bezos among its contributors. "If Jeff continues to hang out in Seattle, he's going to get a lot more incoming. Even for just defense reasons, he has to now play offense."
Mr. Bezos' portfolio of other ventures has thrust him farther into the spotlight. Four years ago, he bought The Washington Post for $250 million, jump-starting a renaissance of the paper. In 2016, Mr. Bezos bought a $23 million home in Washington, one of the city's most expensive, which is undergoing extensive renovations to make it a suitable party spot for the city's political class. Nearby neighbors include former President Barack Obama and his family, and Mr. Trump's daughter Ivanka Trump and her husband, Jared Kushner.
Mr. Bezos' space start-up, Blue Origin, is also making its efforts more public, giving him another stage. The company is trying to rescue Earth by helping to move pollution-belching heavy industries off the planet.
(Score: 5, Insightful) by termigator on Tuesday January 16 2018, @04:55PM (1 child)
And you consider Walmart better than Amazon?
If you are avoiding Amazon because of its business practices, Walmart is no better, and historically, much worse. We can thank Walmart for promoting the lowest common denominator, destroying local businesses, suppressing worker rights, out-sourcing of manufacturing (check on how they got product suppliers to bid against each other for Walmart to carry their products), and how tax payers are subsidizing Walmart due to the low wages they pay (employees require welfare to live).
Walmarts recent announcement of increasing pay is a PR sham. Employees are still being paid below a living wage, the $1,000 bonus will only be received by an extreme minority of employees (and does nothing to boost regular wages), and whatever the total amount is that Walmart is paying, it is counteracted with the layoffs of Sam's Club employees (robbing Peter to pay Paul).
(Score: 0) by Anonymous Coward on Tuesday January 16 2018, @09:43PM
I hate how Walmart has abandoned the made-in-USA preference of the founder, but Amazon never had that preference.
The stuff about destroying local businesses and forcing manufacturers to bid against each other is a big hint that Walmart has some monopoly power. This is bad, but I won't hold it against Walmart. The government is supposed to break up monopolies, and the government is failing at that.
I don't blame Walmart from taking advantage of welfare. I blame the government for providing welfare. Without that, Walmart would be forced to pay more.
Rather than getting angry at Walmart for not paying a living wage, we should be angry at full-grown adults who take jobs from teenagers.