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BIDEN, 100 BILLION AND A QUIET WEEK
Writing on a historic weekend and just before Black Friday, Amazon looks set to have a bumpy few months ahead politically and fiscally. If the network can hold up, Amazon looks set to break the $100 billion Q4 quarter, but if not, big questions will be asked. The holidays are Amazon’s to lose essentially. Politically, Bezos favours a Biden president and wrote on Instagram; “unity, empathy and decency are not characteristics of a bygone era.”, but Biden decided a long time ago who has been naughty and nice this year, and Amazon is on the former.
Biden hasn’t been shy about namechecking Amazon for labour practices and tax avoidance. Biden said early in 2020 that Amazon should “start paying their employees a decent wage and protect their employees”. While good for the world, Biden may just smack Amazon around a bit and that - as even Bezos might agree per his Congress testimony - is no bad thing.
As voting continued, Amazon (and other big tech stocks) rose up to 6%, which is incredible and shows just how much this political race impacted the economic world. What else does a Biden presidency man for Amazon? More taxes most likely, but time will tell as Amazon, and the pandemic become intertwined and the situation in the US, as it pertains to the virus, spirals. Amazon might be America’s alternative test and trace system.
Amazon’s future looks set to include large numbers, but a Biden presidency isn’t going to be an easy ride. However, considering the strange relationship that Bezos and Trump shared, things can’t get weirder, just harder for Amazon.
NOTE: TBD Conference revealed the first wave of speakers for TBD ‘Mollitiam’ (Jan 28-29, 2021). As seen on Fast Company and CNN. Get your tickets now.
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