Amazon Empire: The Rise and Reign of Jeff Bezos
This new PBS documentary about Bezos and Amazon is far more extensive than prior exposes. In addition to getting six senior Amazon managers to respond (on camera) to critics, it also reflects significant moves within the federal government to limit Amazon’s monopoly power.
What comes across most clearly for me is the stark contrast between Trump’s attacks on Bezos (on Twitter)* and Obama’s fawning attitude towards the company’s stellar financial success.
This is the first documentary to make clear that Bezos deliberately set out to create a monopoly – how he deliberately operated at a loss for more than a decade to undercut (via lower prices) and destroy his competition. The list of businesses of all sizes (including authors, publishers, bookstores, and increasingly other retailers) Amazon has put out of business is substantial. Globally, the company is directly responsible for shutting down 38% of retail outlets in two decades.
In recent years, Amazon has also set out to capture the services market at well, seeking to undercut FedEx and UPS in delivery services, Netflix in film production and streaming, Apple and Spotify in music streaming services, and Dropbox, Google, and Microsoft in cloud streaming services.
The company also has health professionals worried with their expansion into pharmaceutical sales and health insurance, likewise food retailers with their purchase of Whole Foods. Moreover in the past year, Bezos has announced his intention to launch a digital advertising platform to rival Google and Facebook.
At present Amazon essentially “owns” the online Main Street, controlling 40% of the global online market place. They also spend more on lobbying US politicians than an any other single entity. However despite all the cash flowing to Washington lawmakers, both the Federal Trade Commission (FTC) and a House Committee chaired by Congressman David Cicillini (Dem, RI) are investigating the need to restrict the range of services Amazon is allowed to offer, as well as their collection and use of customer data.
*Trump has attacked Amazon for tax avoidance and exploiting the US Post Office, and Bezo personally for his ownership of the Washington Post (and its attacks on Trump).