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The Everything War
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The Everything War

Amazon’s Ruthless Quest to Own the World and Remake Corporate Power


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Editorial Rating

8

Qualities

  • Comprehensive
  • Analytical
  • Concrete Examples

Recommendation

Amazon makes private-label products, sells cloud computing power, outsources delivery services, charges retailers to sell their wares on its website – and still sells books. As Wall Street Journal senior reporter Dana Mattioli writes in this compelling corporate history, critics believe Amazon has abused its power in several ways, including applying other firms’ sales data to its private-label product development. In 2023, the US Federal Trade Commission and 18 state attorneys general sued Amazon for using anti-competitive strategies. The case is working its way through the legal system. Mattioli frames his close-up portrait of big business in multiple contexts: chronological, social, legal, financial, and political (though the book pre-dates President Donald Trump’s second administration, which may take a different approach to big tech corporations).

Summary

In 2000, Amazon invited retailers to sell on the Amazon Marketplace platform.

In 1994, Jeff Bezos quit a comfortable New York hedge fund job to start an internet-based business. He and his then-wife MacKenzie Scott relocated to Seattle. They launched the original Amazon.com website in July 1995 as an online bookseller, touting “one million titles, consistently low prices.”

Sales surged in 1996, and in 1997, Amazon issued equity to outside investors in its initial public offering. Although the IPO succeeded, Amazon remained unprofitable due to Bezos’s continual investments in expansion. By 1998, Amazon’s stock market cap exceeded the combined market value of its book retailing rivals, including Barnes & Noble. Amazon branched into music sales.

In 2000, Amazon allowed retailers and independent sellers to market their products through Amazon Marketplace. This created two competing internal retail groups – first-party operations managed by Amazon employees selling Amazon’s inventory, and third-party operations which united outside sellers and buyers on Amazon’s platform. At a company retreat in 1997, Bezos declared that Amazon needed a “culture of metrics” ...

About the Author

Dana Mattioli is a senior reporter at The Wall Street Journal.


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