Twitter nearly split in two this past week when Jeff Bezos shocked the public and investors alike by announcing that despite record earnings at the company, he was stepping down as CEO of Amazon – the company he started 26 years and some $200 billion ago.
Hard to believe an online bookstore could be that successful, especially considering books recently tumbled into the bottom 7th percentile of content consumed by Americans this past year. I understand brevity is king these days, but it is a sad state of affairs when reading a novel is less popular than Tik Tok, AR viewings of Elon Musk’s tweets, and skimming the back of a cereal box.
Many value investors have given up on their strategy over the last 15 years amid concerns that value investing no longer worked. However, some made small adjustments to their strategy but remained value investors to the core. Now all of the value investors who held fast to their investment philosophy are being rewarded as value Read More
MacKenzie Bezos Discusses Her Working Conditions
Speaking of books - Bezos was also in the news recently, as his ex-wife and co-founder of Amazon (according to the family courts of California) MacKenzie Scott announced she would be releasing her latest work, “The Jungle II” at the beginning of this summer.
It is impressive she found time to write a book as she has been busy furiously donating all of the money Jeff the couple made building Amazon.
Scott has already started making the rounds for her publicity tour—and some of the excerpts are beyond troubling. In one anecdote, she describes Jeff’s response when she made the mistake of asking for day off, citing ‘child birth’ as her reason in the family’s HRIS system.
Not a moment after a submitted the request from the hospital bed, he came in and just glared at me. His eyes were dark and empty. “A day off?” He scoffed.
I tried to reason with him, explaining that the nurses had yet to clip the umbilical cord, but he was steadfast and cold. “Mrs. Bezos—I understand the situation isn’t ideal, but how am I supposed to just ‘give’ you the day off. You have responsibilities… The dishes haven’t been done in two days, the gym equipment needs to be sanitized, and to say the garden looks unkempt would be an understatement. I need to treat you like every other employee… Do you know how many babies have been delivered in various warehouses over the years?”
MacKenzie was visibly shaken recounting the story—but recalls it “actually being a surprisingly productive day around the house.”
This article first appeared on The Stonk Market