Just a small observation but The Guardian’s business pages now seem to think that Jeff Bezos does, in fact, deserve his money:
Bezos is handing over fronting Amazon, but not his grip on his creation
Well, if it’s his creation then he did build that, didn’t he? Therefore he gets, righteously, that vast wedge of cash.
No, he doesn’t get it all. Other shareholders – including large chunks of the workforce – own 85% or whatever it is of the company, so they’ve got a share or two of that success. And we consumes out here, we’ve gained benefit too. Vastly more benefit than any of the insiders of course.
There are economists who would insist that Amazon – on its own that is, not just as part of online – has significantly reduced the inflation rate this past couple of decades for example. Tenths of a percentage point per year perhaps but that adds up. One or two percent over that time – we’re all 1 or 2% better off.
Bit of a change from what they say over on the editorial pages, isn’t it?