I find the following quote by Prof Scott Galloway absolutely remarkable:
Amazon will be the first $2 trillion value firm by the end of 2021. Whether it’s an explosion in streaming media, grocery home delivery, or the ultimate supply chain for essential goods, one firm stands alone on the iron throne. No company is adding more market share or revenues than the Seattle giant. Even among the Four, Amazon stands alone on the podium of medals awarded to firms whose revenues have increased during Covid-19.
It shows that we are truly living in a new era of digital feudalism.
4 Likes
Oh, what a term digital feudalism is!
4 Likes
Totally agree with your statement about digital feudalism. I research its Amazon phenomenon in my thesis (using Edubirdie) for help with editing) and think that your term about digital feudalism deserves to have the separate chapter in my work.
2 Likes
This is why I avoid Amazon and have done so for several years. Amazon was already growing fast. A combination of COVID-19 lock-downs and the USA stimulus checks caused it to grow even faster. The US government called it a stimulus. I called it the Amazon subsidy. I have no doubt that a major portion of that stimulus money went to Amazon.
“*Amazon will be the first $2 trillion value firm by the end of 2021”
This prediction turned out to be wrong. Apple crossed $2 trillion market cap at the end of 2020 (Q4 2020). Microsoft just crossed it (Q2 2021). Amazon is currently at $1.77 trillion.
Out of those three companies, Apple had the fastest growth. Apple’s market cap doubled from Q1 to Q4 2020. That’s 100% growth in three quarters.
2 Likes
I don’t know if Amazon has ever had a loss. But they certainly did not take a loss in the past few years. They’ve had huge profits in the tens of billions of dollars.
2 Likes