CNBC February 12, 2020
Key Points
– Andy Jassy, the CEO of Amazon Web Services, said on Wednesday that the only markets Amazon has truly disrupted are retail and tech infrastructure.
– “In both cases, they were models that were pretty antiquated,” Jassy said, in an on-stage interview at the Goldman Sachs Technology and Internet Conference.
– Jassy cited smartphones and payments as areas where plenty of companies have succeeded despite Amazon’s investments.
For all the chatter that Amazon is eating away at every industry on the planet, Andy Jassy, the head of the company’s cloud division, says much of that concern is overblown.
He dismissed the “folklore” that anytime Amazon launches a new business, it’s automatically going to kill all the competition in...
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