Amazon.com, Inc. (NASDAQ:AMZN) CEO Jeff Bezos made an appearance at the Re/Code tech summit Code Conference. Bezos, who also owns the Washington Post, touched upon a wide variety topics. He talked about everything from politics to India, from media to Prime TV.
Amazon.com, Inc. CEO Jeff Bezos Highlights
On India:
Three years after making its mark in India, Bezos explained that the “Amazon of India” would be Amazon itself.
Alluding to past mistakes in China, Bezos confirmed that he doesn’t believe the same thing will happen again in India. He noted that when the website first made ground India, some investors believed it would go the China way. However, it’s been quite the opposite as Amazon is the No. 1 brand in India right now.
“I think some of the investors in India in the early days thought that India might be a replay of China and they have found out that it hasn’t gone that way, and our team in India has just done an unbelievable job,” said Bezos.
The tech titan has invested $2 billion in India. Since 2013, Amazon has built its brand in India and has constructed innovations to help local businesses and local shoppers. One of the reasons why it’s so successful is because domestic players are being fiscally irresponsible and making a lot of business mistakes.
On the “golden era of technology”:
When it comes to technology, Bezos thinks the world is approaching the “golden era of technology.” He offered his insight into the future of technology, and that future includes artificial intelligence.
“It’s probably hard to overstate how big of an impact it’s going to have on society over the next 20 years,” he said.
Bezos referred to Alexa platform, which he confirmed has 1,000 people working on it right now.
On Prime Video on Apple TV
Many are wondering why there isn’t a Prime Video app on the Apple TV. Many are also questioning why Amazon doesn’t sell Apple TV or Chromecast on its website. The answer to that is simple: the retail giant is waiting for “acceptable business terms.”
“[W]hen we sell those devices, we want our player — our Prime Video player — to be on the device, and we want it to be on the device with acceptable business terms,” he said. “You can always get the player on the device. The question is, can you get it on there with acceptable business terms?
On criticism:
Bezos may have given public figures the best advice possible when they’re faced with criticism: develop a thick skin. Whether you’re a politician or a billionaire, says Bezos, you’re always going to have critics. If it bothers you that much then you’re not going to get things done.
“The best defense to speech that you don’t like about yourself as a public figure is to develop a thick skin,” Bezos explained. “Because you can’t stop criticism. You are going to get it. If you’re doing anything interesting in the world, you are going to have critics. You can’t stop it. Move forward. It’s not worth losing any sleep over.”
The Amazon CEO’s thoughts on criticism came when he was asked about venture capitalist Peter Thiel. It was discovered that Thiel funded Hulk Hogan’s legal team with $10 million in his lawsuit against Gawker Media.
Bezos didn’t specifically defend Gawker. However, he did defend media and free speech. He argued that “beautiful speech” isn’t the one that needs “protections,” but rather “ugly speech” that does. He also referred to the Confucius adage: “Seek revenge and you shall dig two graves—one for yourself.”
The entire interview can be viewed below:
[youtube]https://www.youtube.com/watch?v=guVxubbQQKE[/youtube]Amazon.com, Inc.’s Dominant 2016
Amazon has had a strong 2016 so far. The stock has surpassed $700. It is up eight percent year-to-date. It’s reporting immense profits and the brand just continues to grow stronger and stronger. Can Amazon ever be stopped in its tracks? It certainly doesn’t seem like it.
Despite its potential showdown with a Trump White House, Amazon is focusing on what it does best. It’s creating jobs, it’s developing new products and it’s entering into different markets.
As Abhijit Sen opines: “Amazon is shining in a dull market.”
“As Amazon continues its surge higher, rival tech giants are struggling. Apple and Microsoft, in particular, have been the worst hit, with both their shares tumbling to multi-year lows. That’s what makes the Amazon rally even more spectacular.”
During Wednesday’s trading session, Amazon shares were up 0.19 percent at $724.15.
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