It's hard to tell just one story in the first 25 years of Amazon's business. Jeff Bezos & # 39; s online trading company changed the shopping experience by imposing fast and convenient online trading. In addition, Amazon began developing cloud services in 2006 and is now the industry leader.
In addition to software development and marketing, Bezos is also a supplier, TV producer, advertiser and grocer.
All these areas of the business are covered by the new movie about it, The Age of Amazon. It highlights 4 leads that CNN tells.
1.Amazon really listening to what you're saying Alexa
As technologies in a home become more sophisticated, from speakers to the microwave, consumers have begun to wonder if the companies that develop these devices are really bugging them.
Amazon was criticized harshly in April as it hired thousands of employees to listen and describe what users are saying to Alexa & # 39; s voice assistant. At the time, Bezo's company announced that consumers could refuse to resign.
Experts say Amazon is not silencing Alexa to disrupt users' privacy or collect data about them, but to improve the service. However, the company claims that they do not turn on everything. They extract a very small part of users' conversations with Alexa to improve human speech reading from the software. The audio they use is not stored in other client databases.
2.Amazon keeps its zero-tax policy
The richest man's business in the world has been widely criticized, especially by Democrat Barney Sanders for not paying income taxes between 2017-2018, though Amazon is one of the largest market capital companies in the world and has made billions during this period. But according to the company, this policy is right.
"We pay all the taxes that are required of us. If we didn't pay a certain tax, that's because the US government doesn't demand it."says Jeff Wick, Amazon's Consumer Business Manager at Global.
He explains that due to the company's investment in infrastructure development, there is a deduction for the tax levy described in the tax code.
Amazon will donate unsold items
The goal is to reduce environmental pollution while helping those in need
Amazon's Strategic Private Line
Often, Amazon allows third parties to sell their products through the platform, but then the Bezos company begins to produce some of those items on its own. Since 2017, the online retailer has developed hundreds of brands, some of which do not have the company name, such as Wag and Carfted Collar. Recently, Amazon's fashion brand has been notorious as the retailer has hired influencers to promote the clothing.
One of the merchant's best-selling products is the watches he makes himself. Amazon first sold other such accessories, but as soon as it noticed their demand, it developed its own brand.
"That's what marketers do. They load things up to see if they buy. If they see, they start making their cheaper options.", explains Wick.
Some analysts believe that Amazon can completely switch banks as it did with commerce. Given the actions of the company, this can really happen. She partnered with JPMorgan Chase to create a credit card for its loyal customers in 2017. The company has previously said they are considering opening Amazon current accounts in major banks or developing a one-on-one way with Alexa.
Silicon Valley spends billions of dollars a year trying to get into this business, so we should expect this to happen soon.