Taking A Look At Amazon’s Past Gives Some Insights Into Where They Are Headed In The Future
Amazon has managed to become one of the largest online retailers, in addition establishing itself as a tech company. Jeff Bezos, the CEO, mentions quite often that the company is more customer focused rather than competitor focused, which has led to its ability to slash prices for its customers.
Amazon Web Services (AWS) famously began as an internal cloud computing project that Amazon used for its own cloud needs. Today, it’s got an annual revenue run rate of more than $30 billion and is the company’s biggest cash cow.
This lets the company take risks with its other interests and ventures. Thousands of people are using the SageMaker to create machine learning models with AWS.
The company recently increased its minimum wage to $15/hour, getting more attention. Bezos challenged their competitors to do the same. Amazon also allows third parties to showcase their products on Amazon and let it be shipped from their warehouse for a fee, which is a huge part of their retail business.
While Amazon has not managed to do excellent in everything, the company has learned from mistakes. For instance, it used the failure of its Fire phones to create better Echo models. Bezos’ vision is certain to take the company far.
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