Wednesday, February 3, 2021

g-f(2)102 THE BIG PICTURE OF THE DIGITAL AGE, Multiple references, Exceptionally Visionary Jeff Bezos Step Down as Amazon CEO; Andy Jassy to Take Over.


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Extra-condensed knowledge

  • NYT. Andy Jassy, the chief of Amazon’s cloud computing division, will become chief executive, while Mr. Bezos, the company’s founder, will become executive chairman.
    • The changing of the guard is set to ripple out beyond Amazon, which Mr. Bezos has personified for more than two decades. 
    • His impact on corporate America and his remaking of the way that goods are sold turned him into one of the world’s most influential technology and business leaders, as well known as the founders of Apple and Microsoft, Steve Jobs and Bill Gates. Mr. Bezos’ personal wealth also soared to $188 billion, which was surpassed only last month by Elon Musk.
  • WSJ. The company announced changing roles as it reported that revenue in the fourth quarter soared 44% to $125.56 billion.
    • Amazon’s core businesses of online retail and business-computing services are booming during the Covid-19 pandemic, which has shifted work and life to the internet more than ever. 
    • The company announced his changing role as it reported that revenue in the fourth quarter soared 44% to $125.56 billion—surpassing $100 billion for the first time in a three-month span—and profit more than doubled.


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Condensed knowledge 

  • NYTAndy Jassy, the chief of Amazon’s cloud computing division, will become chief executive, while Mr. Bezos, the company’s founder, will become executive chairman.
    • The changing of the guard is set to ripple out beyond Amazon, which Mr. Bezos has personified for more than two decades. 
    • His impact on corporate America and his remaking of the way that goods are sold turned him into one of the world’s most influential technology and business leaders, as well known as the founders of Apple and Microsoft, Steve Jobs and Bill Gates. Mr. Bezos’ personal wealth also soared to $188 billion, which was surpassed only last month by Elon Musk.
  • WSJThe company announced changing roles as it reported that revenue in the fourth quarter soared 44% to $125.56 billion.
    • Amazon’s core businesses of online retail and business-computing services are booming during the Covid-19 pandemic, which has shifted work and life to the internet more than ever. 
    • The company announced his changing role as it reported that revenue in the fourth quarter soared 44% to $125.56 billion—surpassing $100 billion for the first time in a three-month span—and profit more than doubled.
  • WaPo. Bezos, who owns The Washington Post, will transition to the role of executive chair this summer, the company said Tuesday. 
    • The looming transition marks the most radical shake-up in Amazon’s corporate ranks in its nearly 30-year history.
  • Fortune. In a letter to Amazon employees, founder and CEO Jeff Bezos recalled the company’s transformation from a tiny online bookseller into a retailing titan, and encouraged workers to continue “firing on all cylinders.” 
  • Bloomberg. Jeff Bezos Walks Through a One-Way Door, Opening a New Age for Amazon.
    • The CEO’s surprise resignation feels somehow natural and even inevitable.
    • Over the last 25 years, the Amazon founder led the company through perhaps the most fertile period of any American business ever.
  • WSJ. Mr. Bezos’s leadership of Amazon has made him one of the most respected, and feared, leaders in business, as well as fantastically wealthy. 
    • He is currently neck-and-neck with his rival rocket entrepreneur, Tesla Inc. CEO Elon Musk, as the world’s wealthiest person. 
    • Forbes lists Mr. Bezos’s wealth at more than $196 billion. 
  • NYT. Amazon has now stabilized, and its growth has surged as more people have turned to e-commerce and the company’s Prime fast-shipping program, which has more than 150 million members. 
    • Amazon on Tuesday posted a record $125.6 billion in sales for the fourth quarter, while profits more than doubled to $7.2 billion from a year earlier. It was the first time the company had exceeded $100 billion in sales in a single quarter.
  • Forbes. Why Andy Jassy Is The Right Successor For Jeff Bezos.
    • While history does not repeat itself, comparing Walton’s succession with Bezos’s does make me think that Jassy was the right choice.
  • FT. What comes next for Amazon as Jeff Bezos steps aside.
    • Investors reassured by succession plan as Andy Jassy takes helm. 
  • Amazon. Email from Jeff Bezos to employees.
    • Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.
    • Today, we employ 1.3 million talented, dedicated people, serve hundreds of millions of customers and businesses, and are widely recognized as one of the most successful companies in the world.

Category 2: The Big Picture of the Digital Age

[genioux fact produced, deduced or extracted from WSJ, NYT, WaPo, Fortune, Bloomberg, Forbes, FT, Amazon.]

Type of essential knowledge of this “genioux fact”: Essential Deduced and Extracted Knowledge (EDEK).

Type of validity of the "genioux fact". 

  • Inherited from sources + Supported by the knowledge of one or more experts.


Authors of the genioux fact

Fernando Machuca


References


  • Dana Mattioli is a reporter covering M&A in New York. In this role, she and colleagues have broken some of the largest M&A deals including: Pfizer’s $150B deal to buy Allergan, General Electric’s deal to merge its oil-and-gas business with Baker Hughes and CenturyLink’s $25B deal to buy Level 3. In 2016, Ms. Mattioli was part of a team to win a Gerald Loeb Award in the breaking news category for coverage of the Dow-DuPont merger. She was a finalist for the 2015 Larry Birger Young Business Journalist Award.

2. Jeff Bezos to Step Down as Amazon C.E.O., Karen Weise, February 2, 2021, The New York Times, NYT.
  • Karen Weise is a technology correspondent based in Seattle, covering Amazon, Microsoft, and the region's tech scene. Before joining The New York Times in 2018, she worked for Bloomberg Businessweek and Bloomberg News, as well as the non-profit investigative newsroom ProPublica.

3. Jeff Bezos stepping down as Amazon CEO, transitioning to executive chair role, Jay Greene and Tony Romm, February 2, 2021, The Washington Post, WaPo.
  • Jay Greene is a reporter for The Washington Post who is focused on technology coverage in the Pacific Northwest. Before joining The Post, Greene was a reporter at the Wall Street Journal, covering Microsoft and the cloud-computing businesses of Amazon and Google. He spent 10 years as the Seattle bureau chief for BusinessWeek and has covered Amazon and Microsoft for the Seattle Times. He also wrote "Design Is How It Works," a book on design and innovation.
  • Tony Romm is a technology policy reporter at The Washington Post, where he covers the ways that tech companies like Apple, Facebook and Google navigate the corridors of government -- and the regulations that sometimes result.
    • Romm has covered the beat for more than eight years. He has previously served as a senior technology reporter for Politico and a senior editor for policy and politics at Recode, a tech business news site owned by Vox Media. Romm is also an on-air contributor to NBC News and MSNBC.

  • Danielle Abril. Extracted from LinkedIn. Editor, writer, and reporter. Proactive journalist with more than 10 years of experience that includes strategic leadership, launching products, and covering news in short and long form. Beyond my love for writing and editing, I have a passion for Latin dancing and queso.

  • Brad Stone is an American journalist and New York Times best selling author. Stone is the author of the books The Everything Store: Jeff Bezos and the Age of Amazon (2013) and Gearheads: the Turbulent Rise of Robotic Sports (2003). Stone's third book, The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley are Changing the World, was published in 2017.

  • Peter Cohan. I ditched corporate America in 1994 and started a management consulting and venture capital firm (http://petercohan.com). I began following stocks in 1981 when I was in grad school at MIT and first analyzed tech stocks as a guest on CNBC in 1998. I became a Forbes contributor in April 2011. My 14th book -- published in February 2019 -- is "Scaling Your Startup: Mastering the Four Stages from Idea to $10 Billion." I appeared eight times in the 2016 documentary: "We The People: The Market Basket Effect." (http://www.themarketbasketeffect.com/). I also teach business strategy and entrepreneurship at Babson College in Wellesley, Mass. (http://www.babson.edu/Academics/faculty/profiles/Pages/Cohan-Peter.aspx

7. What comes next for Amazon as Jeff Bezos steps aside, Dave Lee, February 3, 2021, Financial Times.
  • Dave Lee is a technology correspondent in San Francisco, covering Amazon, e-commerce, and the gig/shared economy.

8. Email from Jeff Bezos to employees, February 2, 2021, Amazon.

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