Technology

Amazon’s Jeff Bezos Shares Old Article Predicting Amazon’s Failure, Elon Musk Gets the Answer

New Delhi: In 1999, Barron’s magazine ran a cover story titled “Amazon.bomb”, which predicted that Amazon’s stock price would fall and that the true winners of the Internet boom would be “firms that sell their products directly.” “

Amazon CEO Jeff Bezos was described as “just another arbiter” in the narrative. However, the magazine’s prediction did not come true, as Amazon now has a market capitalization of $1.6 trillion and Jeff Bezos is one of the richest men in the world.

Bezos sent a photo of the cover of the magazine to his Twitter account along with an inspirational message. “Listen and be open, but don’t let anyone tell you who you are,” Bezos wrote. He went on to say that this is one of the many stories that predict Amazon’s troubles. Also Read: ITR Filing FY 2020-21: File Your Tax Return Free Of Cost Using SBI YONO App; This way

“Today, Amazon is one of the most successful companies in the world and has revolutionized two completely different industries,” Bezos wrote.

Bezos’ post went viral almost immediately, garnering over 26K likes. While many praised Bezos’s motivational speech, their focus was on his longtime business competitor, Elon Musk.

SpaceX and Tesla CEO Elon Musk responded to the tweet with a silver medal emoji. Also read: Provident Fund: 6 crore PF subscribers to get 8.5% interest before Diwali Here’s how to check EPF balance

Musk joked last month that he would give Amazon founder Jeff Bezos “a silver medal with a giant statue of the number ‘2’” as the world’s richest person.

Last year, a spike in Amazon stock brought Bezos’s net worth to more than $200 billion. According to Forbes, Tesla shares have been rising since the pandemic began, as Musk’s net worth has soared.

With SpaceX and Bezos competing against each other in Blue Origin space exploration, Musk and Bezos have become adversaries. Musk has slammed Amazon several times on Twitter. After Amazon objected to Starlink’s expansion, the Tesla CEO reportedly said that Bezos had “retired to seek a full-time job filing lawsuit against SpaceX.”

After Bezos and LVMH Mott Hennessy CEO Bernard Arnault, Musk has become the third person to reach $200 billion.

By Naveen Bharat Staff

 

 

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