Author Topic: Jeff Bezos > $100 billion  (Read 492 times)

littleman

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Jeff Bezos > $100 billion
« on: November 25, 2017, 07:05:40 PM »
https://www.bloomberg.com/news/articles/2017-11-24/jeff-bezos-fortune-hits-100-billion-on-black-friday-stock-surge

Quote
The Amazon.com Inc. founder’s fortune is up $2.4 billion to $100.3 billion, as the online retailer’s shares jumped more than 2 percent on optimism for Black Friday sales. Online purchases for the day are up 18.4 percent over last year, according to data from Adobe Analytics, and investors are betting the company will take an outsized share of online spending over the gifting season.

Rupert

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Re: Jeff Bezos > $100 billion
« Reply #1 on: November 26, 2017, 07:42:48 AM »
I hate that guy;
Quote
As Bezos’s wealth flirts with new heights, there’s likely to be more questions about what he intends to do with it. Unlike Gates, who was the world’s richest person until Bezos passed him in October, or U.S. investor Warren Buffett, the world’s third-richest person with $78.9 billion, Bezos has given relatively little of his fortune to charity.

I wonder though if I can throw stones though.... "Relatively little" might be a bigger % of wealth than me.  Bill Gates has been an amazing benefactor.
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buckworks

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Re: Jeff Bezos > $100 billion
« Reply #2 on: November 26, 2017, 10:51:28 AM »
>> hate that guy

I'll reserve judgement here. Being wealthy on paper doesn't automatically mean that one has cash available to dispense at will.

Example: farmers are often "land rich, cash poor"... they own enough assets to make them wealthy on paper but they sometimes have surprisingly little cash for discretionary spending ... not until they retire and sell the farm.


Mackin USA

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Re: Jeff Bezos > $100 billion
« Reply #3 on: November 26, 2017, 12:19:39 PM »
What buckworks said
Mr. Mackin
MikeMackin@affiliatemanager.com

Rupert

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Re: Jeff Bezos > $100 billion
« Reply #4 on: November 26, 2017, 02:15:05 PM »
>>  cash.   That is why Bill Gates gave away shares....

The whole amazon machine has a very poor reputation as an employer in the UK.  A bit like Uber but different issues.
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rcjordan

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Re: Jeff Bezos > $100 billion
« Reply #5 on: November 26, 2017, 06:04:15 PM »
>whole amazon machine has a very poor reputation

Same here in US, *IF* someone is interested in even peeking --most are not.  That's why I posted a week or so ago that I suspected Bezos was a (hard-core) Theory X kinda guy.

https://www.snopes.com/amazon-paramedics/

One in-law in my extended family worked in an Amz distribution center during and after college. Her description (just in conversation, no prompting) described a pretty hellatious work environment. Very X-ish.

Brad

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Re: Jeff Bezos > $100 billion
« Reply #6 on: November 27, 2017, 02:05:13 PM »
Quite a contrast because Amz treats their customers very well.  Which is refreshing because so many companies, retail and otherwise, treat the customer like they are dirtbags or at best with indifference

DrCool

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Re: Jeff Bezos > $100 billion
« Reply #7 on: November 27, 2017, 06:28:19 PM »
There was an overly sensationalistic news report about the working conditions in the new Amazon warehouse here. The anonymous worker was complaining about having to be on her feet for 10 hours a day, they only got 3 breaks, they had to work hard, etc.  Basically this lady didn't really want to work.

But nearly every comment was other workers saying yeah, it is hard work but nothing harder or more oppressive than any other warehouse job. Standing on your feet should be expected for something like this. So it is a lot of hard work but nothing out of the ordinary. And they pay well.

Rupert

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Re: Jeff Bezos > $100 billion
« Reply #8 on: November 27, 2017, 07:21:58 PM »
Pay:
https://www.glassdoor.co.uk/Salary/Amazon-Salaries-E6036.htm?countryRedirect=true (3.7 out of 5 stars)

I don't call £8 per hour that great. It is hourly, so I believe there are no contracts, so not sure what hapens with Pensions, sick pay etc. The UK Minimum wage is £7.20, but that I believe is not meant to be Zero hours....  and is more for Janitors and security, where you don't have to do anything but stay awake.

I really am not an expert on this, so hoping someone can shoot holes.

I can earn twice that round here Gardening. And even more washing windows. A builder can expect £20 per hour, and never have to stop work at weekends there is so much to do.

I was looking for the reports I heard of of 55 hour shifts, people dropping on their feet.  Probably fake news, and I certainly could not find it.

I think he is busy destroying society.  Not intentionally, but he is.

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littleman

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Re: Jeff Bezos > $100 billion
« Reply #9 on: November 27, 2017, 08:20:03 PM »
I honestly think it is a mixed bag.  In the US at least, the mom & pop shops have been largely killed by the big box chains like Walmart, Kmart & Target -- those type of family run, multi-generational businesses have been gone for a long time now.  Is working at an AMZ warehouse that much worse than working at Walmart?  I don't know, it might be.

On the other hand Amazon has built a model that allows small businesses to piggyback on their success, something that the big box chains did not do.  Though different and larger, the Amazon market place sort of reminds me of how Google tapped into webmasters by developing Adsense.

Perhaps the situation in the UK is a little different?

Drastic

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Re: Jeff Bezos > $100 billion
« Reply #10 on: November 28, 2017, 04:21:26 PM »
>I can earn twice that round here Gardening. And even more washing windows. A builder can expect £20 per hour, and never have to stop work at weekends there is so much to do.

Yes but your options require motivation, ability to sell yourself, some skills, etc. This is a drone job anyone that can walk 10 hours per day can do.

I read on glass door that after 3 years they are capped at 15.75/hour. A respectable wage here which is roughly 30k/year, though the work is hard. There are better jobs, sure.  But there are far worse ones as well.

rcjordan

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Re: Jeff Bezos > $100 billion
« Reply #11 on: November 28, 2017, 04:31:16 PM »
About 5 years ago, I read a long article about Southern farmers offering field jobs to poor Americans. The article said that field work is often paid "by the bushel" rather than an hourly wage BUT it doesn't take too many days to get up to speed.  I just went looking for that article, couldn't find it, but this 2017 one will do.

Wages rise on California farms. Americans still don’t want the job.

http://www.latimes.com/projects/la-fi-farms-immigration/

Rupert

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Re: Jeff Bezos > $100 billion
« Reply #12 on: November 28, 2017, 06:08:53 PM »
Quote
This is a drone job anyone that can walk 10 hours per day can do.
  OK fair point.

Quote
Amazon has built a model that allows small businesses to piggyback on their success,
 

You make it sound like Amazon intend it that way, and I am not convinced they do. I think the only reason they have merchants is to learn the best corners thwey can fill.  Others pay the cost of failure, they reap the rewards from learning what works.

Yes I take your point, they do offer some opportunity, but in the overall picture  I have no doubt in my mind they take from society.  The do not pay enough tax for example to support the society the benefit from.
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