Re:Email from Jeff Bezos to employees
by mullingitover on Tuesday February 02, 2021 @05:01PM
(#26007474)
> Amazon is amassing this money by NOT spending it on the economy.
Quite incorrect on this point, Amazon has pretty small cash reserves compared to peer tech companies. Even then, if Amazon were merely putting that money in the bank, where is it going? It's getting loaned out to other companies and consumers, who are spending it, investing it, etc via fractional reserve banking.
> Amazon is amassing this money by NOT spending it on the economy
as the sibling comment notes, amazon is not amassing money. rather, amazon has amassed value.
you might want to familiarize yourself with what a corporate valuation is, and means.
Re:Email from Jeff Bezos to employees
by dantheman on Tuesday February 02, 2021 @05:00PM
(#26007461)
Amazon is amassing money by transforming the world and increasing efficiency. Everyone is richer, it's not a zero sum game.
Why is increasing efficiency always net good?
Re:Email from Jeff Bezos to employees
by dantheman on Tuesday February 02, 2021 @07:34PM
(#26009125)
Because we get more than we had before. As costs go down, the risk of innovation goes down, we're able to be more responsive, able to do new things. People are able to have more variety to meet their individual needs and preferences.
In short we get more or work less and the overall quality of life for everyone increases.
That's not universal. Good example here https://en.wikipedia.org/wiki/Jevons_paradox
Think of it like a pool pump that has sprung a leak. It keeps sucking in but not pupping out into the pool, Amazon is amassing this money by NOT spending it on the economy. Eventually your pool will be stuck at the lowest line of the pump inlet.