Michael Spencer attempts to define Amazon

Michael Spencer takes a look at everything Amazon is now, and will be soon, including many eye-popping numbers.

Amazon is now by far the largest retail company in the United States, at least in terms of market capitalization. Currently valued at $458 billion, Amazon is worth nearly twice as much as Walmart, which is still the largest retail chain in the country in terms of sales. #AmazonMarketCapThis chart was for May, 2017, 6 months later it’s $530.66B.

He discusses how Amazon is about much more than retail/ecommerce:

We think of Amazon as a time-bomb vs. big-box retail, but Amazon is becoming the same way vs. tech, banking and health technology companies. One simple way to put it is thus, Amazon in an accelerated and innovative way continues to invest in areas of growth at the expense of profitability, something most other retailers (and other firms) can’t afford to do. Even Google is failing at hardware, where Amazon is beating them, take the new emerging smart speaker market.

Amazon is entering its prime (no pun intended), it’s 23 years old. While it learns about the world, it’s also doing many new things, failing at life and becoming more than just a retailer, a cloud solution or a consumer-AI and logistics-fulfillment company.

Amazon is getting into health care, is working on Alexa smart glasses, and its RFPs for it’s second HQ made International News many many times over. It received 238 bids from cities all over North America, all desperate to have Amazon come to town.

Spencer postulates that Amazon is in the best position of any of the major tech companies, including the Asian giants:

Apple might win the race to the world’s first 1 trillion dollar company, but Apple is already a relic of what it once was. Amazon’s dominance in the cloud and move to the entertainment space means

Amazon will easily surpass Netflix in subscribers with Amazon Prime, and it’s original content on Amazon Prime Video should improve dramatically in the next few years. You can’t expect Netflix to compete with Amazon, it’s just not realistic. The truth is, you can’t even expect Walmart to, in the end.

Google, Apple, Facebook, Microsoft, Alibaba and Tencent for all their talent, huge YOY growth cannot compete with Amazon, because they don’t share the same philosophy or business model.

Lots of interesting stats, insights and thoughts in the post W*F is Amazon? – Michael K. Spencer at Medium

Andrew @ EcomLoop
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