Amazon Will Fall In 5-10 Years (Here's Why)
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- Опубліковано 27 лют 2023
- Amazon Will Fall In 5-10 Years (Here's Why)
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There are so many companies that aren’t around anymore that NOBODY thought could ever fail or fade away.
Names please.
Sears is one.
Pan Am
Sears and Pam Am were no Amazon.
Sears & PanAm = I have to get off my ass and leave my house to make purchases there
Amazon = Inside the comfort of my own home that I can order products and have it shipped FOR FREE to my door step 🤷♂️
Left a 3 year career as a Data Analyst for Amazon logistics 6 months ago and I agree with everything Ken said. I'd like to add that unless Amazon has an executive leadership culture change, Amazon will eventually fail. This likely due to the major shareholders of the company are also executive leadership, and I don't see any of them deciding to vote themselves out anytime soon.
This isn’t unique to Amazon. This is ALL public companies! This has been going on for about as long as I’ve been working in the engineering field since 2007. Upper management has a set amount for merit raises, promotions, etc. I remember one year the plant manager told all first level managers “they need to save money this year so take the rating you gave every employee and knock it down a level”.
All companies do this and have been doing this for many many years.
That's a little different from completely firing them but I understand your point
sucks working for public companies. big private companies are way better to work for. they can afford to let u stay home bc other ppl can take ur spot, and they are not complete scumbags having to beat each quarter for investors
You are spot on, Ken! There are already up and comers who treat their employees and customers well. Great great video, Sir!!
This is the very reason I retired early in 2015. This is been going on forever, treating employees like cattle. For many years I was self-employed, but it was nearly impossible to compete against Big-Corp-Govt entities that control the public via media and regulations.
I use them a couple of times a year but they are already not even close to what they use to be, not so long ago, and other avenues for shopping will open.. I agree with Ken.
I worked at Amazon for 4 months during and just after the lockdown and the first thought I had was that nothing they were doing was sustainable (maybe it was just my two locations I worked at and the chaotic time I was there) and I heard first hand the plans for attrition plans. It will either change greatly or it will definitely fall.
Legit the same experience.
Oh boy… time to revamp my portfolio
Amazon: survival of the fittest
Hey, I really needed to hear this. Great take! Been afraid to leave my job and pursue a more lucrative and fulfilling career, but that has started to change as my boss has started to lose his professional boundaries and started using disrespectful language. A switch flipped almost overnight, and now I am going full steam anywhere but here.
Ken you are so right about Amazon. They think they are too big to fail. There is no company that is too big to fail. And another thing about Amazon, they are losing customers like crazy every day for many reasons. There are people who absolutely refuse to shop at Amazon. Now how do you stay in business with no customers also?
I always look somewhere else first when shopping online. I keep getting broken stuff that was clearly used. The return policy is now as great as it once was. Not to mention I pay for prime, that they keep raising prices for, and never get fast shipping. Use to be great.
So true. I’ve stopped shopping on Amazon. Too many times my packages wouldn’t arrive on time they’ve quoted. Plus Ive had missing orders a couple times
Jeff Bezos stated himself that Amazon will fail one day…Q2 results show billions in profit, I think they’re customer base is ok
Uhhh Wells Fargo, us bank was too big to fail 😂
Left my corporate job at one of the 5 top US Banks for a nonprofit role. I've never felt more fulfilled, valued and respected in my entire 10-year career.
Are you to give back the money earned working for the Bank?
Corporate “Non profit” just means expensive administrative costs with no room left for profit
Do you mind sharing your comps? It would seem your salary decreased when you transitioned to a nonprofit (and that's totally fine, money is not everything)
Amazon's greed is incredible
Glad you finally see it, Ken.
Agreed. Was aware of this for some time now. Glad it’s being brought up and shared.
As a former employee of a national refrigeration corp that did Amazon facilities, I’ve seen what goes on & I hope they do.
What have you seen?
@@rwebster1234 they literally make their employees walk on different colored lines on the floor. or they get reprimanded. They don’t get enough breaks, they can’t go to the bathroom unless their supervisor approves.
@@screwdriver_bandit sounds like the 3rd world factories.. But here
One major flaw with Amazon is that is conditioned Americans to order vital items at the last moment. Most businesses can't make products and ship them out over night, that's la la land. It's great that Amazon can do that with China made products but most American companies live in reality.
China manufacturing is superior and cheaper cost
It would probably be to their best interest in the future to contract out all their logistical operations and focus on a quality streamlined management team!
There's plenty of Crisis manager's that when the time comes that will be glad to come in and clean house!
A lot of Amazon vans and trucks are owned or leased by independent contractors who take all liabilities!😂😂😂
True. Lots of independent retailers no longer available through amazon.
Ever hear of Walmart?? They’re not going anywhere
Ken Is Definitely On To Something..I Agree 100%.
Amazon won't fall until some business comes along able deliver cheaper goods faster.
Good point. I was thinking that Amazon will eventually have to provide better pay and work conditions which would make them charge for money for the products, thus losing market share that way
Yeah, I wish they could take a hit in their hiring at least. But no; there are way too many people willing to work for them even if they have a bad environment. Too many people are attracted to the money and that big bold "Amazon" text on their resume.
They will Always have workers! The US is bringing in millions of immigrants!
There's always gonna be a new idea, a new system or new technology that overtakes the current big thing. Everything has a beginning, middle and end. After growth, folllows a peak, a plateau, then decline. And business sometimes finds out the hard way that a high turnover of staff is not an efficient or a profitable way to run anything.
The DoD has these unregretted attrition rates too. It never made sense to me, and it's partially why I'm glad I got out.
Many public companies such as GE has and others have and does the same thing. Always trimming the bottom 10% of their management.
Exactly what I was thinking, this is right out of Jack Welch’s management style from decades ago. Most large companies have a similar model.
Ha ha like a big wood chipper- I love it 😂
Had an Amazon ad right before this video
If Amazon keeps its Web serves side of house, the will ever go away. Some people have no idea that's how Amazon makes most of its money.
I worked for Amz for 3 yrs and I know the inside and out better than anyone. Here's 2 things I can tell you. #1. Nobody ever gets fired, you'll just quit eventually. Easily 20ppl a week would quit and 20 new hires would come in. I worked with about 2,000 ppl in my time there over 3 years, and maybe 3 ppl I know of got fired. #2. Is that if/when Walmart gets their online delivery service even close to Amz it's game over. We were even told that by higher-ups off the record.
Hard to imagine because of how absurdly interwoven it is I’m so many things now and the ease of use. But there have been tons of companies that never seemed they’d fail and did. It’s certainly possible but would be shocking.
Worked there a year. He's spot on
I used to be a manager at the corporate headquarters for the largest jewelry retailer in the US (hint: our stores included, “Every Kiss Begins with _____,” “He went to _______,” and “________ the Diamond Store”). One of the straws that broke the camel’s back leading to my exit in January 2023 was being forced to dumb down my team’s performance appraisal scores so that their “merit” increases fit into a pre-determined budget I was given. In other words, rather than make our “merit” budgets fit our team’s performance, we had to make our evaluation of their performance fit into our budget. And that was in the Compliance & Ethics Department!
Thankfully I’ve moved on to another company that actually treats its employees well and I’ve never been happier!
Yikes
That's quite a sick irony.. I realized now that I'm not so shocked actually because I myself, working with employment and labor law, was regularly forced to do stuff not in agreement with those laws.. Not working for that company anymore either. It's just relabeling crap to fit whatever fancy word is fashionable at the moment, and the company carries on doing business as usual. Unfortunately it's not so easy to find someplace better, I'd say 80-90% are like that.
Worked as a software development manager and hope this happens
Knowing forever workers, I agree with this.
Kmart fell & they used to be the #1 retailer in the US so I don't doubt Amazon will eventually die if they don't take corrective action.
However, K-mart held on barely alive for a few decades after I thought it was finally going to die almost like a walking undead corpse. so it's possible Amazon could last in a similar manner after 10 years.
You read my mind. My very first job was at a Super K-Mart in the 90s, and I was warned by a lady who worked there 20 yrs that K-Mart is a sinking ship. K-Mart was too big to fail in the 80s and 90s.
I do believe we have a Kmart about a half an hour away from me.
@@furryplantsandcoins9070 Guess UA-cam eat my comment again (It does that sometime when I post links). Because of your comment I went looking & found an article from 2022 claiming they have exactly 3 stores left. I guess I shouldn't be surprised as they have been barley hanging on for a long time but I had assumed the pandemic finally did them in (my mistake). We used to have several K-marts up here & none are left today.
@@yodaflyz And just let you know I guess I was wrong. The one in my area is no longer there. So I guess we were both wrong. I do know I can order through them to be able to get delivery. But yes so much has gone since the pandemic. Especially the small businesses that can't handle all this that was going on. So sad to see some of these places go. I remember taking my kids into Kmart when they were little. That was my go-to store before Walmart came in.
@@furryplantsandcoins9070 Whoa! Kmart has an online ordering system…!!,
I have always thought that eventually all those warehouses would be boarded up one day..
I work at Amazon. For years they've been focused on expansion. Where I am we used to have one fulfillment center. Now there's like 5 in my area. I think they've expanded beyond demand. We used to hire 500 temps during Christmas season. We haven't done that since the pandemic started. Every February they used to make people "the offer". They'd pay people $1000 for every peak season they had worked for Amazon ups to 5k. A few took it every year, especially if they were retirement age. They stopped doing that last year.
How is the mic called he is using?
Most public traded companies are similar. Run by hedgefund managers that look at people as disposable.
Revolving door policy for employees is used by many companies. Walk into a Lowes or Home depot and you never see the same employees.
Sears, the products outlasted the company. Houses and tools still in use.
Agreed! Honestly I busted my butt there for 2yrs and was told that I wasnt meeting expections. I was part of their URA....
I got nothing but good feedback throughout the year until I was surprised in the performance reviews. I hope Amazon fails one day.
This "report" is not any different from other mega corporations. I work for HCA and the entire hospital model is to let the experienced staff walk and hire as many new-grads as possible because they can work them harder and pay them less. Cut resources, increase expectations, rinse and repeat.
What's wrong with going off of performance for hire fire🤔 sounds like every bussiness
Back in the 1980s Congress thought that Ford Motor company was getting too big to fail, and considered breaking up the company. Now, not much of an issue. All empires fall.
There is no company that is it's equal on the online retail market. Until a competitor comes along I will disagree that is will be gone within ten years.
How does that Hateraide taste?
My employer talks about how they want to keep turnover to a low percentage, however, they also overwork the employees and they leave. If they really cared about turnover rates, they wouldn't overwork us.
Lol. Sounds like where I work. No I don’t work for Amazon. Ken has spoken!
It speaks how they regard people
He is 100% correct, former Amazonian L5
my theory is that the human data is being used to train the robots 🤖
Idk.....walmart also treats people horribly they have yet to go under but i agree burnout is killer at amazon the cost todo overnight shipping on workers is exhausting i worked 1:20am to 11:50pm the only reason i did it was to escape homelessness a previous site caused and to get them to pay for my school
Almost every major retailer that's ever existed has gone under. It will happen to Amazon sooner rather than later.
Forgive my ignorance, but I would estimate that Ramsey Solutions have much higher chances to get there ...
If you show up everyday with 150 percent, typically the target isn't on your back.
General Electric CEO Jack Welch was famous for his policy of getting rid of the bottom 10% of employees every year. It became corporate orthodoxy during the "Who Moved My Cheese" era.
Most companies have shifted towards hiring people, get all their enthusiasm and productivity out of them, then hope they quit.
Amazon doesn't give one tenth of a crap about their employees. Unfortunately, there's always kids turning 16, graduating high school, looking for a job, I hope you're right, Ken, but I hate to say I think you're wrong
“There’s always kids turning 16”…not always. When people stop having kids…which they are…no more large families and some have zero kids…believe me society will feel different.
@@swisschalet1658😂 people will always have kids
The firing process is on a 6 strikes you're out basis. If you don't make rate (productivity) or make too many errors (quality) you'll get one write up for that week you didn't do well. From what I understand, you have to have 6 of the same type of write up to actually get fired. I know people that I was hired with back in February 2022 that have 5 write ups and are dangerously close to losing their jobs because of rate. It's not that the rate is actually that high. I work at a Amazon return center and currently in crets, which is grading returned products to see if they're eligible to be resold. The rate is atleast 15 items an hour. It's not hard. I feel like the relaxed hiring process and lack of random drug testing is why productivity isn't great. No one cares. People come to work in pajamas and most reek of devil's grass after lunch break lol. Just what I've observed.
The leverage that tech has is way more than traditional products and services. This is what technology does. It lowers the needs for employees and can turn a full time job into a maintenance job over 10 previous jobs. This is a type of automation. The negative part is employers take advantage of this and don’t share the wealth with those that brought a good amount of the success. That’s a good amount of trust that is lost there.
The Steak-n-Shake near me “automated” their ordering and got rid of waiters/waitresses. No one takes your order when you enter…no one brings you your food..it’s all done by the customer on a digital screen, then you pick up your own food and carry it to a sterile table. Guess what? We no longer go there. They gained “automation”…but lost a customer. We go to Cracker Barrel instead where a human greets you and takes your order. And guess what? We’re willing to pay DOUBLE for that. Bye-bye Steak-n Shake.
Disagree. Amazon warehouse jobs are often for people with limited options to begin with. They are viewed as fungible. If you don't have attrition, you're not maximizing the value you get out of hourly labour. This process naturally must shed high performers who have more options (since they would command higher pay than Amazon offers), and low performers who can't economically be turned into higher performers.
They will run out of people to burn through. Even the people that stay, they are not making much money. They move on as well after a year or two.
It’s called a plantation.
I use to work at Tesla that place is horrible people get burnt out and eventually quit -leaving Tesla was the best move I’ve made in my career.And if they get tired of you they do a random drug test and catch weed in your system and fire you.
Catch weed in your system 😅? I suppose Tesla made you smoke that blunt?? Lol
I cancelled my Amazon prime account over 3 years ago and never looked back. Haven't shopped Amazon in over 3 years. They are way too overrated and I have saved a lot of money.
I get lots of stuff from Amazon...and I feel guilty. How can I support the ill-treatment of human beings?
Walmart ?
WALLMART IN SOME TOWN SHOULD TURN INTO A DRIVE THU AMAZON ESPECIALLY IN BLUE CITIES
I worked for Amazon for less than a week realized it’s the worst company on earth to work for and quit and never came back. Jeff Bezos even said one day Amazon will fail. Companies are not meant to last forever is what he said.
ooh ooh TEMU!!
AWS just entered the chat
all companies go to zero.
but...
to think amazon sells goods or tesla sells cars is extremely short sighted.
amazon houses data.
tesla sells energy.
these companies stocks are priced accordingly.
Bet on it, share how much you shorting the stock also. Otherwise your all talk 😮
Amazon needs to have lunch with FedEx Express in MEM. Everyone who wants to work for FDX has… so there’s no on left to hire if they need someone …and they can’t hire for quality. They burned thru the employee pool years ago.
It’s the Peter Principle and it does take over. Middling people fill up middle mgmt and all of them think they still have a shot at the next promotion. You need people who love where they are and love developing the people they manage into better workers. Hierarchies are for narcissists, respect the people who make your business run - and it isn’t you.
It will not*
So I know it’s wrong what Amazon is doing but they are doing good too especially providing free education for low income workers! And I also think they want to loose employees to focus more on automation!
And a lot of people in the 50s and 60s thought Sears was going to last forever, lol
Sears is still in business, if barely.
“Fawn Liebewitz” Animal House
They treat their sellers the same way. Yes, Amazon has sellers that are 90% of their products. They let people rip us off to where they see it because it goes through their hands and still make you take the loss lol.
I don't see amazon going away any time soon..
I do think netflix will be replaced within 10 years tho.
All I heard was “time to short Amazon.”
Walmart Supply Chain is no different. Employment is a filtering system.
I think congress will bail amazon out before it falls. Think about how many small companies, logistic network, and that’s before AWS and other services. It’s just too much of a part of the American economy
5,10,20 years possibly 150 who knows? Great prediction 💪🏾
Hahahaha I said the same thing! He will be right though! And I agree with him😅
Treating people like numbers
It's the only company I know that lets their employees blare offensive rap music in a neighborhood. Like literally blaring the N word in a suburban subdivision. Almost recorded the guy and reported him but didn't want to get shot up.
Amazon hopefully doesn’t fall, love Amazon stock. Amazon will globalize and expand like Other companies regardless of how many people quit. Robots are coming and people gotta pay bills, people will get desperate and amazon will grow profits. But Amazon failing or shrinking in size, Highly unlikely but it is a possibility.
Since when are poor performance employees entitled to keep their jobs?
They're not. But when the work is monotonous and doesn't pay well, the good performance employees will find better work.
Amazon is distribution. Others distribute too. Anything is possible.
I am a recently retired Director level
Those things that you outline are old employee Complaints from years and years ago and they are the same now as back then
Instead of hearing things second and third hand from disgruntled employees why don’t you get out of the studio and go take a tour of an Amazon I am sure given that you are a personality they would be more than happy to do that for you and then you can give your opinions
But right now you sound like an episode of Fox News and Sean Hannity and now we all know how honest he was given this past court case
Corporate America and Americans in general dont respect anyone but the CEO and stockholders
I doubt Amazon is going anywhere anytime soon…nobody treats their employees and customers worst than Walmart and they’re still here…plus Amazon is a large tech company with multiple and strong strings of income… they do need to adjust some of their practices but most people so poorly manage their finances that they will hang on to a hated job indefinitely
Sorry to burst your bubble, Ken, but a particular 100+ year old O&G company does this and has no intention of stopping.
People have got to quit trading with them.
I work at amazon so hopefully not any time soon
Jack Welch had a policy of letting the lowest performing 10% go.
Amazon let's everyone go at 3 years because Bezos thinks people stop caring about their job at that mark.
That said, I stopped shopping Amazon when I learned drivers had to shit in grocery sacks.
for the sake of Amazon productivity
This is most companies these days. Bottom line is all that matters and all companies want are yes men. We’ll guess what? People don’t operate like that.
Yeah, have never really understood the way Amazon treats its employees. I reasoned for a while that Bezos is a super genius and knows what he is doing.
However, when you turn over your entire workforce at a fulfillment center each year and have to start busing in folks from far away towns AND everybody knows how abusive you are, you will run out of a work force.
The USA is a big country with a large population but the labor supply is finite. Nonetheless, I really disagree that Amazon will fail. Eventually, they will have to come to their senses and start treating their employees more humanely.
Not even attrition. They lose billions of dollars
Amazon is KMart. All it will take is a Walmart.
Your crazy Amazon will never fall to convenient for people, if you supply a need your bussiness will flourish
"Amazon will fall" it's acquiring all the small companies in your neighborhood 😂😂😂