Jeff Bezos warns Amazon will have multibillion-dollar failures

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As Amazon grows, it makes sense for its failures to grow at a larger scale too.⁣ ⁣ Remember the Amazon Fire phone? Not many people do — it cost the company $170 million and was discontinued in 2015. That’s an example of a bet that didn’t turn out, and one that Amazon CEO Jeff Bezos specifically called out in his annual shareholder letter.⁣ ⁣ Bezos’ letter seems to be a warning that not all of Amazon’s bets will work out. This comes as Amazon plans its expansion into new sectors like health care, health insurance, internet delivery from outer space and even consumer robotics.⁣ ⁣ To read more from the letter, click the link in bio.⁣ ⁣ *⁣ *⁣ *⁣ *⁣ *⁣ *⁣ *⁣ *⁣ #amazon #amzn #jeffbezos #bezos #retail #ecommerce #commerce #business #businessnews #cnbc⁣

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