More Money, More Problems For Amazon

More Money, More Problems For Amazon

Date: 28 Jul 2017 | posted in: Media Coverage, Retail | 0 Facebooktwitterredditmail

National Public Radio – July 28, 2017

Written by Lauren Silverman (Heard on Morning Edition)

This week Amazon became the fourth company in the U.S. worth half a trillion dollars. The online retail giant is in the exclusive club with Apple, Microsoft and Google’s parent company, Alphabet. Americans clearly love Amazon: one of every two dollars spent online goes to the e-retailing giant. But customers and lawmakers are also spending more time picking on Amazon these days. As the online shopping company branches out, it’s rubbing some people the wrong way. …

A majority of people seem to. Amazon is one of the five most valuable companies in the world. And among the 100 most visible companies in the US Amazon again earned the best reputation. Stacy Mitchell is co-director for a group that promotes strong local economies. It’s called the Institute for Local Self Reliance. She says it would be wrong to think of Amazon as just a retailer.

“They want to control the underlying infrastructure of the economy,” says Mitchell. “They control about ⅓ of the world’s cloud computing capacity. So they own the infrastructure that companies of all kinds, from Netflix to the CIA rely on in order to do business, and they’re rapidly moving into shipping and package delivery.”

Read the full story here.

Nick Stumo-Langer
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Nick Stumo-Langer

Nick Stumo-Langer is Communications Manager at ILSR working for all five initiatives. He runs ILSR's Facebook and Twitter profiles and builds relationships with reporters. He is an alumnus of St. Olaf College and animated by the concerns of monopoly power across our economy.