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Jeff Bezos will step down as Amazon CEO on July 5
- mywittyname 5y agoI think they made the right decision to replace Bezos with Jassy.
- hemloc_io 5y agoCurious as to why you say that. Personally from what I've seen of him I'm not a huge fan.
- JohnJamesRambo 5y ago$1.73 May 16 1997 $3,293 May 26 2021 He had a good run.
- tehsauce 5y agoIt's even better than that, the stock split three times.
- cletus 5y agoNormally stock splits (or, more broadly, "corporate actions") are incorporated into things like Google Finance to avoid skews from stock splits, rights issues, stock reissues and so forth skewing the historical results. So I think the OP is right.
- vxNsr 5y agoYea, I don't believe the actual opening price was $1.73 Yup, appears it was $18[0] https://www.investopedia.com/articles/investing/082715/if-you-had-invested-right-after-amazons-ipo.asp#:~:text=Amazon.com%20Inc.,million%20as%20of%20May%202020 https://www.investopedia.com/articles/investing/082715/if-yo....
- DSingularity 5y agoIt’s not. But the equivalent opening price if you factor in the stock splits - which would have multiplied the shares you bought at opening - is $1.73 per share.
- Inhibit 5y agoCorrect. 2-1, 3-1, then 2-1 early on. So there's a 12 to 1 ratio at play there. Initial day's closing was 18$.
- chriswalz 5y agoOr in market cap: 865,000,000 - 1997 1,640,000,000,000 - 2021
- bmmayer1 5y agoJust a caj 1896x return
- busyant 5y agoDon't forget the pre-IPO valuation. https://www.quora.com/Who-were-the-original-investors-in-Amazon-and-how-much-pre-IPO-investment-did-Amazon-receive-in-total https://www.quora.com/Who-were-the-original-investors-in-Ama... Makes it even more impressive.
- mrkramer 5y agoViva Internet. For giving so many business opportunities.
- paulpauper 5y agoamzing.wish i was an early invstor. would been awesome
- samfisher83 5y ago.
- kypro 5y agoAmazon is worth more than twice the total market cap of BTC.
- FiReaNG3L 5y agoWhich I hope makes it terribly clear thats BTC is a huge bubble
- andyana 5y agoSelling everything from dildo's to long term storage while having delivery drivers urinate in bottles is so cool, eh?
- colejohnson66 5y agoIt’s possible to be impressed at how Bezos grew the company while still being upset at how their fulfillment employees are treated.
- paulpauper 5y agoas if this is unique to amazon. the only difference is amazon gets much more media scrutiny compared to other companies.
- brutal_chaos_ 5y agoProbably(!) because they are the worst of the large as f*k companies in America. (Hypothesising)
- samfisher83 5y agoI meant in terms of return.
- bumbledraven 5y ago+1 Under Bezos, AMZN maintained an average 34% inflation-adjusted annual growth rate for 24 years! Source: $1.73 in May 1997 would be worth the same as $2.89 in April 2021 (https://www.bls.gov/data/inflation_calculator.htm https://www.bls.gov/data/inflation_calculator.htm), and $2.89 x^(2021 – 1997) = $3,293 implies x = 1.34 (https://www.wolframalpha.com/input/?i=2.89*+x%5E%282021-1997%29%3D3293 https://www.wolframalpha.com/input/?i=2.89*+x%5E%282021-1997...).
- JohnJamesRambo 5y agoI was wondering if we have some early investors here that have held the whole time and if they would like to share some stories. Going from $1.73 to $100 and back down to $5 after the 2000 bubble must have been quite the wild ride.
- purple_ferret 5y agonow compare that to Bitcoin
- tgerhard60 5y agoIf he could use his free time to kick a few bucks toward completing The Expanse series, that would be great.
- WORMS_EAT_WORMS 5y agoThis is a trash headline and makes it seem like this is unplanned, unannounced / new intel, leaving for a bad reason, and/or he no longer will be involved. If you're not reading the article or this is news to you, he will transition to executive chairman of Amazon’s board. He is expected to free up his time. Then will be focusing on Blue Origin, TWP, and his various charities.
- tux1968 5y agoThis was news to me and the headline seemed pretty neutral without any hyperbole.
- WORMS_EAT_WORMS 5y agoThis was announced in Feb...
- deleted 5y ago[deleted]
- kuu 5y agoIt's included in the body of the news: "The company first announced the leadership change as part of its February earnings report, saying Jassy would take over during the fiscal third quarter. Amazon (AMZN) had not previously shared the precise date of the transition. "
- TheAdamAndChe 5y agoNothing about the title implies it "is unplanned, unannounced / new intel, leaving for a bad reason, and/or he no longer will be involved."
- cletus 5y agoI hope Blue Origin works out just so we continue to have healthy competition. Bezos is, I believe, personally dumping ~$1B/year of his personal wealth into the company. Despite effectively unlimited resources I think it's fair to say that Blue Origin has underperformed thus far. And SpaceX just had their 100th successful Falcon 9 launch in a row.
- traceroute66 5y agoI think its only fair his final statement on leaving should be "I'll be back". ;-) (Terminator = Orion Pictures = MGM)
- WalterSobchak 5y agoDiscussion from the initial announcement: https://news.ycombinator.com/item?id=26006656 https://news.ycombinator.com/item?id=26006656
- martythemaniak 5y agoMy feeling is that he was largely motivated by BlueOrigin's weak position. He's 57 and Amazon is a scarily large behemoth firing on all cylinders, what else is there to do there? Meanwhile, the company developing his lifelong passion and obsession is struggling badly. I mean, they seem to be doing well compared to old companies (ULA) and governments, but Starship is going to be a step change in access to space if they pull it off. It'd be great if he can focus on and fix BlueOrigin.
- iso1631 5y agoHas Blue Origin put anything in space yet? Rocketlabs and spacex have regular commercial clients, and even virgin orbital have reached orbit. (and of course ULA keep launching just like they always did)
- chriswarbo 5y agoThey've crossed the Kármán line, but only for a few minutes at a time (going up, then falling back down). They've not reached orbit (going sideways fast enough to "miss the ground"). Their New Glenn rocket hasn't flown yet (and probably hasn't been built yet; they're very secretive, compared to e.g. SpaceX). Their engines will be used on ULA's upcoming Vulcan rocket, which should be a low-risk source of income for them, but also low-reward compared to rockets and spacecraft.
- jackfoxy 5y agoBlue Origin is not doing well compared to ULA. In fact, ULA is none too pleased with Blue Origin, which has failed to deliver the BE-4 rocket engine required for ULA's next generation Vulcan rocket. https://spacenews.com/with-ulas-new-rocket-vulcan-behind-schedule-space-force-agrees-to-let-atlas-5-fill-in/ https://spacenews.com/with-ulas-new-rocket-vulcan-behind-sch...
- kilroy123 5y agoI've thought the same thing. Though, I also suspect Bezos is behind the reasons why they're limping along so slowly. My prediction is he'll work on BO full-time and mess things up even more over there. Not make them better.
- api 5y agoMy hope is that he's off to do something more important: Blue Origin. Good luck!
- jokoon 5y agoYes, unless SpaceX has a competitor, space companies are not really privatized...
- cicero 5y agoNow he can move onto the next phase of his plan for world domination.
- tachyonbeam 5y agoCompeting with Elon Musk on space domination.
- eplanit 5y agoNow Amazon truly becomes a faceless corporation.
- sudhirj 5y agoNo, Andy Jassy is pretty vocal, well-spoke and popular. Did a really good job with AWS too. Even Google and Microsoft aren't faceless, and Andy is just as memorable as Sundar and Satya.
- ______- 5y ago"If I make, like, three good decisions a day, that's enough. And they should be as high quality as I can make them" - Jeff Bezos
- onion2k 5y agoWell, it's a good time to be looking for a new dev role. The market is pretty strong. Makes sense.
- marban 5y agoI hope he'll find some time to ramp up his review game. https://www.dailymail.co.uk/news/article-9558417/Jeff-Bezos-Amazon-reviews-unearthed-showing-insight-purchases-worlds-richest-man.html https://www.dailymail.co.uk/news/article-9558417/Jeff-Bezos-...
- ngoel36 5y agoHad to get that last PTO day in.
- TheRealDunkirk 5y agoSo he can focus his full-time efforts on greasing wheels in Washington to ensure that Amazon can continue 2-digit billion dollar acquisitions on the way to becoming the first internationally-recognized corporate state.
- deleted 5y ago[deleted]
- YeGoblynQueenne 5y agoAw. And I was hoping to escalate my complaint to him before that. I ordered something in December '20 and it's still listed as "on the way, but it's running late". I went to cancel it a few weeks ago and then but the support folks insist it's been delivered. I haven't received anything and the tracking link on the order page is dead. The Amazon folks say that's because too long has passed and they can see "internally" that it's marked as deliverd. What ever does that mean? And why is the order page still not updated, then? I'm escalating that all the way to the top, I tells ya!