Amazon has a chance at history in the modern economy. Or at least that’s what Anindya Ghose, an NYU Stern School of Business professor thinks. Amazon is currently worth $476.07 billion dollars and would need a 110% increase in its stock price to reach the trillion dollar level. A lot of people think for them to increase that would take away a lot of retail jobs, but actually, Ghose believes it will do the inverse, as those jobs may decrease Amazon will need to open up a lot more new employment to reach this lofty goal.
One of Amazon’s latest projects is Amazon Go, a grocery store where there’s no cashier. You put your items in your cart and eventually walk out while your bill will automatically be paid by a linked credit card. This idea is threatening to revolutionize the supermarket industry. While it could threaten cashier positions world wide, Amazon has also made a push to purchase Whole Foods. However, they have said they do not aim to turn Whole Foods to Amazon Go like supermarkets. Walmart has also tried to make a push to do the same thing like Amazon Go.
While the government is looking into antitrust laws to keep a closer eye on mega companies like Amazon, the retail giant has vowed to create jobs. They recently had a job fair where 20,000 people applied to a possible 50,000 warehouse positions. Ghose says “Amazon is not just a retail company. In the most recent quarter, Amazon’s retail grew 25% year over year but the biggest bang for the buck came from Amazon Web Services, which grew 55% year over year,” It looks like the giant company will break that number one day. Let’s see what invention brings them there.
Source: Market Insider