Bezos is out: A yawn is the greatest compliment

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Lots of news from Amazon yesterday. They did a record-smashing $125.6B in sales in the last quarter, up from $87.4B in the same quarter of 2019. That's even more than Apple (the most valuable company on Earth) did in sales last quarter. They unveiled the design for their new HQ which you can judge for yourself. And finally, the bombshell. Bezos is stepping aside (kind of). 

AWS CEO Andy Jassy will be taking Bezos' place as Amazon's leader. Bezos will become exec chairman, focusing on “new products and early initiatives" — like his space baby Blue Origin and The Washington Post. So, how did market react to this bombshell? 

Investors yawned at Bezos leaving, with the stock barely budging after-hours. It's a vote of confidence that the empire he built is strong enough to stand without him front-and-center.

Bezos revolutionized the way we shop, made convenience a standard. He will be remembered for many things that 20 years ago, we couldn't have imagined them being a norm for us (yes, 1-Click ordering, and two-day shipping). Simply put, he made the extraordinary ordinary.

The way Bezos is stepping down as CEO and his new role is very reminiscent of the first time Howard Schultz stepped down as CEO of Starbucks. Jeff Bezos will want to avoid Schultz’s mistakes and make sure his shadow isn’t ruining it for the new CEO of Amazon. 

Disclaimer: This post is merely my own assessment and is not an investment recommendation. For professional advice, seek input from a licensed investment advisor.

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