What is going on on with Jeff Bezos and Amazon

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  • Amazon has been on an incredible trajectory, however for the primary time in years, the corporate is going through some uncertainty. 
  • A part of it started when CEO Jeff Bezos and his spouse, MacKenzie, introduced they’re getting divorced. 
  • Private life apart, Amazon has met latest backlash for canceling its HQ2 plans in New York.

Following is a transcript of the video:

Troy Wolverton: Amazon has been, in recent times, on this wonderful trajectory. Its inventory skyrocketed final 12 months. All the pieces appeared to be going proper for the corporate, and, , lastly for the primary time in a few years, the corporate is in a extra unsure place as we speak than it was six months or a 12 months in the past.

Early final month, Jeff Bezos and his spouse, MacKenzie, in a tweet introduced that they have been going to be getting a divorce. That they had been married for 25 years, they’ve 4 youngsters collectively, and so it form of got here out of nowhere that they have been going to be getting a divorce. It grew to become extra comprehensible later that week when the Nationwide Enquirer got here out and introduced that that they had a narrative that Jeff Bezos was having an affair with a TV persona, or former TV persona, named Lauren Sánchez.

Jeff Bezos wasn’t instantly vital of the story, however he was apparently upset in regards to the launch of the texts and employed an investigator to search out out who had leaked them. Bezos posted on Medium, principally accused the Nationwide Enquirer of making an attempt to blackmail and extort him. Nationwide Enquirer mentioned that that they had some racy pictures of Bezos, together with a unadorned picture of Bezos himself, threatened to launch these pictures, publish them, if Bezos did not name off his investigation. Bezos and his Medium submit principally mentioned he wasn’t going to do it and he wasn’t going to provide into “extortion and blackmail” as he termed it.

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By way of the divorce, many states which have neighborhood property states are fairly specific about if there is a divorce, the way you cut up up the property of a married couple. Usually the cut up is a 50/50 cut up. In Washington, that is not essentially the case. You must cut up it in a good and equitable method, nevertheless that is decided. Many of the property that the Bezos’ personal are tied up in Jeff’s holdings of Amazon inventory. He owns about 16% of the corporate. He is price about $133 billion , and in order that stake can be divvied up between him and MacKenzie. That might give her about an eight% stake in Amazon, which might make her and Jeff the 2 largest particular person stakeholders within the firm. And so there’s some concern that Bezos may doubtlessly be distracted by the divorce and never give the working of Amazon his full consideration, and that the corporate may undergo on account of that.

One other factor that is been triggering concern was improvement of facial recognition expertise. Amazon Net Providers has developed this facial recognition expertise, and that they have been licensing it to regulation enforcement companies, and the priority about ICE utilizing that to focus on immigrants, and there are issues that it should be extra regulation of that.

The opposite large factor that is been happening with Amazon currently, after all, has been the HQ2 stuff in New York. Amazon launched this large search the place they have been going to search for a second headquarters to accompany the primary headquarters that they had in Seattle. They ended up deciding on splitting the second headquarters, HQ2, between New York and northern Virginia. Northern Virginia embraced the HQ2, however in New York, there was instant opposition to the mission.

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One of many largest was merely that many native officers and residents that have been going to be affected by the mission have been upset they hadn’t been consulted, that this was a backroom deal that was negotiated between Amazon and Mayor de Blasio and the governor’s workplace. Amongst these issues have been that you simply have been gonna have 25,000 those who have been coming into Queens, Lengthy Island, and there won’t be the transit infrastructure there, that it was going to overload no matter transit was in place.

Loads of issues too about what the affect was gonna be on housing, that they have been going to make costs go even increased and make it much more unaffordable. And the opposite concern that was introduced up needed to do with unionization. New York is a pro-union city. Amazon is traditionally a reasonably anti-union firm, and firm officers have been requested at metropolis council conferences about whether or not or not they’d even be simply impartial on the prospect of unionization of their employees of New York, and so they could not even decide to being impartial on that.

Jeff Bezos’ proposal as a part of this mission to have a helipad on the HQ2 headquarters in New York, and the explanation that struck such a bitter tone with many individuals was as a result of the concept that most of the those who have been affected by this mission have been gonna be caught in site visitors or caught on overcrowded transit whereas Jeff Bezos was floating excessive above them on his solution to work, having a simple commute.

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Right here you’ve gotten the richest man on the earth, and we’re having a mission that is catering to his wants whereas not serving the broader curiosity.

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