Author Topic: Bezos standing down as CEO  (Read 1522 times)

xxxx

Bezos standing down as CEO
« on: February 03, 2021, 07:30:04 AM »
Hmm...

« Last Edit: September 08, 2021, 07:20:39 AM by Tweek »
 
The following users thanked this post: Lorri Moulton

okey dokey

Jeff Bezos stepping down
« Reply #1 on: February 03, 2021, 09:25:36 AM »
He is giving up as Amazon CEO.

Was anti monopoly probe the final straw?
 

Jeff Tanyard

Re: Bezos standing down as CEO
« Reply #2 on: February 03, 2021, 09:44:56 AM »
Doesn't surprise me.  He's obviously been hands-off for a while.  And considering the drama in his personal life, I can't say I blame him.

I don't own shares of the company, but if I did, then this is what I would call a sell signal.
v  v  v  v  v    Short Stories    v  v  v  v  v    vv FREE! vv
     
Genres: Science Fiction, Fantasy (some day) | Author Website
 
The following users thanked this post: Lorri Moulton, The Masked Scrivener

Eric Thomson

Re: Bezos standing down as CEO
« Reply #3 on: February 03, 2021, 09:57:00 AM »
I guess it means he'll be running SPECTRE full-time.
 
The following users thanked this post: Lorri Moulton

R. C.

  • Medium Novel unlocked
  • ***
  • Posts: 689
  • Thanked: 239 times
  • Gender: Male
  • "Sooner barbarity than boredom." - T. Gautier
    • Ruairí Cinéad Ducantlin
Re: Bezos standing down as CEO
« Reply #4 on: February 03, 2021, 10:01:34 AM »
I guess it means he'll be running SPECTRE full-time.

I thought he was head poohbah of KAOS?

Cheers,
R.C.

Also: Fake digital credits to everyone who does not have to Googles poohbah and KAOS.
↓↓↓ Latest Creation ↓↓↓
 
  R.C. Ducantlin
 
The following users thanked this post: Lorri Moulton

Lorri Moulton

  • Epic Novel unlocked
  • ****
  • Posts: 1132
  • Thanked: 528 times
  • Gender: Female
  • Author of Romance, Fantasy, Mystery, and Suspense
Re: Bezos standing down as CEO
« Reply #5 on: February 03, 2021, 10:04:44 AM »
The man replacing him, Andy Jassy, is CEO of Amazon Web Services.  I wonder if this will impact authors at all...better, worse, or business as usual?

Author of Romance, Fantasy, Mystery, Suspense and Historical Non-Fiction.
 

Eric Thomson

Re: Bezos standing down as CEO
« Reply #6 on: February 03, 2021, 10:10:00 AM »
I guess it means he'll be running SPECTRE full-time.

I thought he was head poohbah of KAOS?

Cheers,
R.C.

Also: Fake digital credits to everyone who does not have to Googles poohbah and KAOS.

No need to get smart with us. Now, you tell me who Bezos really is:
« Last Edit: February 03, 2021, 10:16:06 AM by Eric Thomson »
 
The following users thanked this post: R. C.

PJ Post

Re: Bezos standing down as CEO
« Reply #7 on: February 04, 2021, 12:07:30 AM »
I predict a further tightening of the screws.

Isn't self-publishing fun?   :banana-riding-llama-smiley-em
 

notthatamanda

Re: Bezos standing down as CEO
« Reply #8 on: February 04, 2021, 02:30:09 AM »
I think if you asked Jassy what he planned to do about KDP now that he's in charge he'd need an assistant to slip him a note to tell him what KDP is.
 
The following users thanked this post: PJ Post, RPatton

RPatton

Re: Bezos standing down as CEO
« Reply #9 on: February 04, 2021, 09:15:11 AM »
This announcement came out after their earnings, which were strong, and the news that there was a lot of money not paid out that should have been (audits, which is why we all got extra payments), which isn't good. These stories are all being buried by the announcement that he's leaving.

I actually don't think he got pushed out, I think he planned on leaving (he's not leaving to Q3). I also don't think he planned on announcing until Q2, but they needed a way to sink the bad stories and his departure is the way to do it.
 
The following users thanked this post: Jeff Tanyard, alyson

notthatamanda

Re: Bezos standing down as CEO
« Reply #10 on: February 04, 2021, 10:09:56 AM »
This announcement came out after their earnings, which were strong, and the news that there was a lot of money not paid out that should have been (audits, which is why we all got extra payments), which isn't good. These stories are all being buried by the announcement that he's leaving.

I actually don't think he got pushed out, I think he planned on leaving (he's not leaving to Q3). I also don't think he planned on announcing until Q2, but they needed a way to sink the bad stories and his departure is the way to do it.
Are you talking about the dividend?
 

Luke Everhart

  • Long Novel unlocked
  • ***
  • Posts: 809
  • Thanked: 372 times
  • Gender: Male
  • Energizer bunny arrested: charged with battery. 😔
Re: Bezos standing down as CEO
« Reply #11 on: February 04, 2021, 01:20:59 PM »
Bezos isn't disengaging to meddle more in WaPo or dabble in politics. He's transitioning to the executive chairman position of the Zon.

https://www.wsj.com/articles/why-jeff-bezos-is-stepping-down-as-ceo-but-staying-on-as-executive-chairman-and-what-that-means-11612366771
Urban Fantasy Author
Magic & Mirth meets Action & Attitude
 

RPatton

Re: Bezos standing down as CEO
« Reply #12 on: February 05, 2021, 10:49:41 AM »
This announcement came out after their earnings, which were strong, and the news that there was a lot of money not paid out that should have been (audits, which is why we all got extra payments), which isn't good. These stories are all being buried by the announcement that he's leaving.

I actually don't think he got pushed out, I think he planned on leaving (he's not leaving to Q3). I also don't think he planned on announcing until Q2, but they needed a way to sink the bad stories and his departure is the way to do it.
Are you talking about the dividend?

No. The dividend is paid to shareholders, I they will always be paid.

Amazon had an independent audit, as all companies with a certain number of employees must have. The audit revealed 62 million (I think it was 62, too lazy to go and check) in tips not paid to drivers, the extra funds from KDP paid to authors, and I assume other areas where funds hung around in the ether until someone asked why they hadn't been paid out to the intended recipients.
 

notthatamanda

Re: Bezos standing down as CEO
« Reply #13 on: February 05, 2021, 11:09:20 AM »
Not saying I don't believe you, but why would they have tips for drivers? Do you have a link for this? I thought you meant the dividend was stingy compared to the amount of revenue.
 

Lorri Moulton

  • Epic Novel unlocked
  • ****
  • Posts: 1132
  • Thanked: 528 times
  • Gender: Female
  • Author of Romance, Fantasy, Mystery, and Suspense
Re: Bezos standing down as CEO
« Reply #14 on: February 05, 2021, 12:54:17 PM »


It's been all over Twitter.  Here's a link...

https://www.reuters.com/article/us-amazon-drivers-idUSKBN2A2241

Author of Romance, Fantasy, Mystery, Suspense and Historical Non-Fiction.
 
The following users thanked this post: Jeff Tanyard

Jeff Tanyard

Re: Bezos standing down as CEO
« Reply #15 on: February 05, 2021, 06:53:32 PM »
Just FYI, Amazon doesn't pay a dividend.  They never have.  There has been grumbling about this for years, some from the shareholders and some from analysts.

RPatton, thanks for mentioning that "tips for drivers" thing.  I hadn't heard about it.  And thanks to Lorri for the link.
v  v  v  v  v    Short Stories    v  v  v  v  v    vv FREE! vv
     
Genres: Science Fiction, Fantasy (some day) | Author Website
 

notthatamanda

Re: Bezos standing down as CEO
« Reply #16 on: February 05, 2021, 10:09:30 PM »


It's been all over Twitter.  Here's a link...

https://www.reuters.com/article/us-amazon-drivers-idUSKBN2A2241
Thanks. I don't look at Twitter so I didn't see anything. I get it now. Customers adding tips to the balance of their order and Amazon not paying them. I would have assumed that was an option for Whole Foods delivery, but I never saw it as an option for regular stuff you order.



 
The following users thanked this post: Lorri Moulton

PJ Post

Re: Bezos standing down as CEO
« Reply #17 on: February 06, 2021, 12:04:33 AM »
$62 million isn't even coffee money to Amazon. It's more like a rounding error.
 
The following users thanked this post: Anarchist

Anarchist

Re: Bezos standing down as CEO
« Reply #18 on: February 06, 2021, 03:55:53 AM »
$62 million isn't even coffee money to Amazon. It's more like a rounding error.

I've seen comments on Reddit vilifying Amazon for having some nefarious money-swiping scheme in play.

But I'm with you. Amazon is probably wondering "Hey, where'd this extra dime come from?"
"The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.” – Thomas Sowell

"The State is an institution run by gangs of murderers, plunderers and thieves, surrounded by willing executioners, propagandists, sycophants, crooks, liars, clowns, charlatans, dupes and useful idiots—an institution that dirties and taints everything it touches.” - Hans Hoppe

Nothing that requires the labor of others is a basic human right.

I keep a stiff upper lip and shoot from the hip. - AC/DC
 
The following users thanked this post: alyson

notthatamanda

Re: Bezos standing down as CEO
« Reply #19 on: February 06, 2021, 04:20:42 AM »
Only barely tangentially related comment - I saw a Ryder (logistics) commercial and they got a guy who's a dead ringer for Bezos in it. I had to rewind and then google if Amazon bought Ryder (no) cause I thought I had missed something.
 

Lynn

Re: Bezos standing down as CEO
« Reply #20 on: February 06, 2021, 05:51:40 AM »
A good accounting system wouldn't leave that much money in limbo. Someone (or several someones more likely) isn't doing their job.
Don't rush me.
 
The following users thanked this post: RPatton

Post-Crisis D

Re: Bezos standing down as CEO
« Reply #21 on: February 06, 2021, 06:20:46 AM »
A good accounting system wouldn't leave that much money in limbo. Someone (or several someones more likely) isn't doing their job.

Don't worry.  They'll probably get promoted.  grint
Mulder: "If you're distracted by fear of those around you, it keeps you from seeing the actions of those above."
The X-Files: "Blood"
 

Jeff Tanyard

Re: Bezos standing down as CEO
« Reply #22 on: February 06, 2021, 08:04:51 AM »
Only barely tangentially related comment - I saw a Ryder (logistics) commercial and they got a guy who's a dead ringer for Bezos in it. I had to rewind and then google if Amazon bought Ryder (no) cause I thought I had missed something.


I've thought for a while now that if Bezos ever went into acting, he'd make a great Lex Luthor.  He looks exactly like the character looks in my mind.
v  v  v  v  v    Short Stories    v  v  v  v  v    vv FREE! vv
     
Genres: Science Fiction, Fantasy (some day) | Author Website
 

RPatton

Re: Bezos standing down as CEO
« Reply #23 on: February 06, 2021, 01:45:20 PM »
$62 million isn't even coffee money to Amazon. It's more like a rounding error.

But it's not. Every penny must be accounted for. Even if it's a drop in a bucket, it's still a drop that has to be accounted for. Independent audits happen specifically to make sure every penny is accounted for and $62 millions is a lot of pennies to not be counted. Now, I doubt it was nefarious on Amazon's part, but I do think it's endemic of Bezo's attempts to scrape every penny from every point available. At some point SOP becomes a hazard to shareholders.

Plus, that 62 million might have been a drop in the bucket to Amazon, but that $20 in tip money might have been half a gas tank so a driver could grab more jobs so they could make $50 and buy groceries for the week.

The main point is that it's not Amazon's money. Just like the 70% or 35% isn't Amazon's money either. Better yet, what if Amazon implemented a Pay What You want system and what if someone paid $5 more than the average buyer for your book? Would you be okay with Amazon keeping that $5 from you because of an accounting mistake?
 

LBL

Re: Bezos standing down as CEO
« Reply #24 on: February 09, 2021, 05:36:35 AM »
Maybe he's stepping down to finally go full-time with his Bella Forrest brand.
 

RPatton

Re: Bezos standing down as CEO
« Reply #25 on: February 10, 2021, 01:45:01 PM »
Maybe he's stepping down to finally go full-time with his Bella Forrest brand.

Well if he is, he's going about it in a weird way because one side filed in Washington and included Amazon... So he'd be suing his own company.
 

LBL

Re: Bezos standing down as CEO
« Reply #26 on: February 15, 2021, 07:27:00 AM »
Maybe he's stepping down to finally go full-time with his Bella Forrest brand.

Well if he is, he's going about it in a weird way because one side filed in Washington and included Amazon... So he'd be suing his own company.

The ultimate long con.
 

RPatton

Re: Bezos standing down as CEO
« Reply #27 on: February 20, 2021, 03:34:31 AM »
Maybe he's stepping down to finally go full-time with his Bella Forrest brand.

Well if he is, he's going about it in a weird way because one side filed in Washington and included Amazon... So he'd be suing his own company.

The ultimate long con.

I admit, there's a little part of me who now wants "Amber" to be unmasked as Bezos. :)
 

The Masked Scrivener

Re: Bezos standing down as CEO
« Reply #28 on: February 25, 2021, 04:59:19 PM »