Amazon Part 1: The Inventor vs. The Monopolist

03/10/22 • 38 min

4 Listeners

Today Amazon is an inescapable juggernaut. Back in 1994, it was just an idea, pitched by a former Wall Street banker named Jeff Bezos to disbelieving investors at the very birth of the internet era. Reporter Brad Stone, who has spent years chronicling the Amazon story, describes how the company almost flamed out the dot.bomb era and how Bezos rescued the company in part by ginning up two new lines of business – Prime shipping and its digital reader, the Kindle.

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Previous Episode

TRAILER Foundering: The Amazon Story

This season of Foundering reexamines a foundational story of the internet age: the rise of Amazon and its ingenious founder Jeff Bezos. Over the last 20 years, Amazon has changed the way we shop, what we watch on TV, how we interact with our devices and how businesses consume computing resources. But is Amazon now too powerful—and unaccountable? And how did Bezos, once widely admired, turn into a controversial figure of unfathomable wealth, whose personal pursuits are avidly covered by the tabloids? Following his best-selling book “Amazon Unbound,” Brad Stone continues his exploration of Amazon and its founder, presenting an unvarnished picture of a company that spans the globe and touches nearly every aspect of our lives—for better or worse.

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Next Episode

Amazon Part 2: The Obsessive Secrecy Around Alexa

One day in 2011, a small team of Boston-based AI scientists got an unexpected call: Amazon wanted to buy their company. Its founder and CEO, Jeff Bezos, was leading a secret team to develop a unique device, a voice-activated computer that could recognize and respond to user questions from across a noisy room. The world would soon know the device as the Amazon Echo, and its virtual personality as Alexa. Brad Stone tells the Alexa story and sizes up its impact on culture, and conventional notions of privacy. He also tracks down the actress who Amazon got to perform the voice that’s now in millions of homes worldwide.

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Foundering - Amazon Part 1: The Inventor vs. The Monopolist

Transcript Summary

In this captivating episode titled "Amazon Part 1: The Inventor vs. The Monopolist," the focus is on Jeff Bezos and his transformative journey with Amazon. Delivered as a speech at the Smithsonian, Bezos reveals his scars and flaws, demonstrating a personal and business transformation. Despite his immense success and wealth, public opinion has soured, with criticism directed towards worker treatment. However, the episode delves into Amazon's early years, highlighting Bezos' optimistic and competitive nature, as the company pursued rapid growth in the dot com era. Facing the brink of collapse during the dot com crash, Bezos had to reassure suppliers and adapt professionally to survive. He faced scrutiny, including an SEC investigation, but believed inventing and creating new things was the only way out. With groundbreaking innovations like Amazon Prime and the Kindle, Amazon shifted from an internet retailer to an innovative force, forever changing society. This engaging episode explores the dichotomy of Bezos as "The Inventor vs. The Monopolist," making it an essential listen for anyone intrigued by Amazon's profound impact on our world.

Transcript

Speaker 100:00:00.040

I'd like to start back in November two thousand nineteen. We're at a black tie event hosted by the Smithsonian. It's their annual National Portrait Galleries Induction ceremony. This is a historic honor. The images of George Washington, Abraham Lincoln, and Frederick Douglas hang in these halls. CBS News anchor Gayle King is the Evening's m c. They like to get people at different stages of their careers, and in particular, capture careers that ar

Amazon Part 1: The Inventor vs. The Monopolist Top Questions Answered

What did Jeff Bezos focus on during his speech at the Smithsonian's National Portrait Galleries Induction ceremony?

Jeff Bezos focused on his mistakes and failures rather than his success during his speech at the Smithsonian's National Portrait Galleries Induction ceremony.

How was Jeff Bezos portrayed in a painting at the National Portrait Galleries?

The photo-realistic painting of Jeff Bezos highlighted his flaws and scar tissue.

How is Jeff Bezos described as a leader?

Jeff Bezos is described as intimidating and brutal as a leader.

How has public opinion about Jeff Bezos changed recently?

Public opinion about Jeff Bezos has declined, with criticism about Amazon's treatment of workers and its impact on the world.

What was Amazon's initial focus as a company?

Amazon started as an online bookseller and had a vision for creating the "everything store."

What strategy did Amazon pursue in the late 1990s?

Amazon pursued a "get big fast" strategy in the late 1990s, even though it was unprofitable.

How did Amazon overcome doubts about its viability during the dot-com crash?

Amazon's CFO reassured suppliers to avoid a domino effect if the company failed and shifted its focus to tightening operations and operating margins.

What loyalty program did Amazon introduce?

Amazon introduced Amazon Prime as a loyalty program, offering free shipping for an annual fee.

What impact did Amazon Prime have on people's shopping habits?

Amazon Prime changed people's shopping habits and created an expectation of free shipping.

What revolutionary product did Amazon launch in the book industry?

Amazon launched the Kindle, which revolutionized the book industry and solidified its reputation as an innovative company.

Show more Questions

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