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Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

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Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#191

Post by baybal2 »

mrb wrote: post #163
nostromo wrote: post #29

Earlier quoted context omitted.

I think Bezos is a bad argument for us being in a new guilded age. When you look at Rockefeller, Carnegie, Ford, and perhaps even Gates, they had near total control over some aspect of the American Economy. And they used that control to make incredible profits. Amazon is trying to do the same, but they haven't done so yet. Their retail business is not wildly profitable (if at all). They haven't monopolized online ret…

« They are not wildly profitable (if at all). » Often repeated, but wrong. Their financials might show almost no net income (just $3B) but that's just because they choose to reinvest every dollar of gross profits into themselves to grow. Just look at their income statement: in 2017 they invested $23B into "R&D". These are profits they could have just taken. Obviously, reinvesting in themselves has been a fantastic ch…

You can expect that these RnD expenses just being regular opex. Classic dotcom era trick

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#192

Post by kolbe »

Reminder: Qaddafi was worth $200b[1] at the time of his death, and that was in liquid assets. Not an unsellable position in one speculative stock. Other notable heads of state that probably blow Bezos away: Putin, bin Salman, and probably Xi.

[1] http://www.businessinsider.com/qaddafi-200-billion-richest-2...

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#193

Post by Camillo »

nickthemagicman wrote: post #152
pitaj wrote: post #134

Earlier quoted context omitted.

You mean the same New Deal that likely extended the length of the Great Depression by a significant multiple?

This goes against every ounce of history I've been taught.

The parent post should not be downvoted. It's perfectly possible that the effect of the New Deal is controversial (or even dubious) amongst historians and that most schools teach it as a resounding success. In that case, it's interesting to hear both what historians think and what people are actually taught.

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#194

Post by steveadoo »

TheLoneAdmin wrote: post #166
detaro wrote: post #147

Earlier quoted context omitted.

If its combined with inhumane conditions as a requirement to stay employed, yes.

So what would you consider a "humane rate" to pay someone to work in inhumane conditions? $20/hr? $100/hr?

They could just hire more workers at $12/hr and I don't think there'd be a problem.

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#195

Post by luddaite »

TheLoneAdmin wrote: post #166
detaro wrote: post #147

Earlier quoted context omitted.

If its combined with inhumane conditions as a requirement to stay employed, yes.

So what would you consider a "humane rate" to pay someone to work in inhumane conditions? $20/hr? $100/hr?

How about we all agree that people shouldn't have to work in inhumane conditions?

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#196

Post by sjg007 »

CamTin wrote: post #67
nostromo wrote: post #45

Earlier quoted context omitted.

I'm ex-Amazon and no, I'm not being sarcastic. It's an open question if Amazon will ever be able to raise prices and reap those promised profits without losing marketshare to the many players that would love to take them down. Right now I view Amazon as a very profitable web hosting company and a retail non-profit. Google and Microsoft, for comparison, were both much faster to get to monopoly-level marketshare. Amazo…

But a Monopoly on "stuff" and "moving stuff around" is a much more valuable Monopoly (pretty much by definition) than one in "eyeballs to advertise stuff to". Ultimately, the majority of Google's and Facebooks profits are from the advertisement of retail, services, and digital goods, which Amazon is trying (and doing very well) to monopolize. Sure, it may be harder to get there but the rewards are much better if you…

Transportation is going to be uberized. And in the worst case you just ship USPS.

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#197

Post by sjg007 »

baybal2 wrote: post #191
mrb wrote: post #163

Earlier quoted context omitted.

« They are not wildly profitable (if at all). » Often repeated, but wrong. Their financials might show almost no net income (just $3B) but that's just because they choose to reinvest every dollar of gross profits into themselves to grow. Just look at their income statement: in 2017 they invested $23B into "R&D". These are profits they could have just taken. Obviously, reinvesting in themselves has been a fantastic ch…

You can expect that these RnD expenses just being regular opex. Classic dotcom era trick

I wonder if the irs would crack down on this.

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#198

Post by fesoliveira »

01100011 wrote: post #126
CamTin wrote: post #67

Earlier quoted context omitted.

But a Monopoly on "stuff" and "moving stuff around" is a much more valuable Monopoly (pretty much by definition) than one in "eyeballs to advertise stuff to". Ultimately, the majority of Google's and Facebooks profits are from the advertisement of retail, services, and digital goods, which Amazon is trying (and doing very well) to monopolize. Sure, it may be harder to get there but the rewards are much better if you…

Please explain how Amazon will gain a monopoly on stuff and moving stuff around. I stopped buying shit from Amazon and haven't had a problem finding things elsewhere. Yeah, I pay 1% more... big deal. Fuck those guys.

You are in a minority when it comes to that. Most people still go to Amazon (me included) because it is far easier to find what you want there for a lower or at least more fair price. Convenience is what dictates this kind of stuff, and Amazon, work practices apart, is know to deliver stuff really fast and cheaper than most, being the most convenient choice the same way Google is the most convenient choice when it comes to web searches.

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#199

Post by chrisco255 »

axiomdata316 wrote: post #37

Adjusted for inflation John D. Rockefeller is still the richest man in modern history. Today his fortune would have equaled 340 Billion dollars. More than twice Jeff Bezos current net worth.

It's not inconceivable that Amazon's market cap could double over the next 10 years. They still have a long way to grow and they're involved in so many markets...

Re: Jeff Bezos Becomes the Richest Man in Modern History, Topping $150B

#200

Post by prolikewh0a »

lev99 wrote: post #167
TheAceOfHearts wrote: post #119

Earlier quoted context omitted.

Most Americans have guns. The police has better weapons, but it would be a war of attrition, and I doubt most police would want to go on killing sprees against their fellow countrymen. Although I doubt it'd reach the point of massive insurrection. That would require a total loss of trust in the government, and I think we're still far from that.

An attempt to overthrow the government is handled by the military, not the police. The military has more guns, better supply lines, and better discipline than police forces.

It would be terrible to see the military killing its own citizens in defense of a corrupt government that doesn't work for those citizens.
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