The Amazon Effect
On Mondays we air Innovation Hub on The Point. This week: July 2021 is a big month for Amazon's Founder and former CEO, Jeff Bezos. Not only did he step down as CEO of the company he built into a $1.63 trillion empire, he will also fly into space on the first crewed flight of his New Shepard rocket ship. And yet, the space trip is just the most recent of Bezos' boundary-breaking endeavors. Bezos and his company have revolutionized American business, extending their reach into nearly every industry— from retail, to media, to healthcare, and cloud computing.
Brad Stone—the author, most recently, of Amazon Unbound: Jeff Bezos and the Invention of a Global Empire—explains that the e-commerce giant has often seemed “unbound from the laws of corporate gravity.” While most companies eventually plateau, Stone says that Amazon has defied these business norms by continuing to grow rapidly. Stone, a Senior Executive Editor at Bloomberg News with years of experience reporting on the company, examines Amazon’s various successes and Bezos’ sweeping influence. Specifically, he traces Bezos’ transformation from a frugal tech nerd to a buff billionaire whose high-profile divorce made headlines. But what exactly accounts for Amazon’s extraordinary rise? If there is one thing that drives Bezos, Stone points out, it’s his deep fear of stasis.