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Jeff Bezos hypes the future of AWS

(Image credit: Image Credit: Ken Wolter / Shutterstock)

It looks like Kylie Jenner is not the only person whose words have the power to send a company's stock sliding. Jeff Bezos just did the same thing, basically.

Bezos writes annual letters to Amazon shareholders, and they're always an interesting read which usually sends the media into a frenzy. This one is different in a way that it's not just the media that went into a frenzy – some companies did, too.

And with good reason, as Bezos' letter seems to have angered quite a few people.

First, he discussed Amazon Web Services with obsessive infatuation. He said how AWS was built thanks to a mix of listening to customers, and coming up with fresh ideas.

“We must invent on their behalf. We have to tap into our own inner imagination about what's possible,” he wrote.

“AWS itself – as a whole – is an example. No one asked for AWS. No one. Turns out the world was in fact ready and hungry for an offering like AWS but didn't know it. We had a hunch, followed our curiosity, took the necessary financial risks, and began building – reworking, experimenting, and iterating countless times as we proceeded.”

Not to digress further, Bezos went on to slam eBay a little bit. He compared the growth in merchandise sales of third-party sellers between Amazon and eBay from 1999 to 2018. As the figures were tilting towards Amazon, it sent eBay’s shares sliding five per cent down on Thursday.

He then poked Walmart and other retailers a little bit, inviting everyone to increase their minimum wage to $15, or even $16 per hour for US employees and “throw the gauntlet back at us”.

Wallmart responded by asking Amazon to pay its taxes (opens in new tab), first.

One thing that shouldn’t be lost in the clutter of all this chatter is the fact that Bezos confirmed that Amazon’s growth was actually slowing.

“In 2018, Amazon’s nearly $300 billion in GMV was about a 19 percent jump from the prior year,” Bloomberg notices (opens in new tab).

“That was notably slower than the rates of increase of 24 percent and 27 percent, respectively, in 2017 and 2016.”

Image Credit: Ken Wolter / Shutterstock

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.