Amazon Second Company to Reach the 1 Trillion Dollars Market Valuation Milestone

[Deus Voltage]

As reported by CNBC, Amazon has reached the 1 trillion milestone previously hit (5 weeks earlier) by Apple Inc. 

 

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Amazon market cap hit $1 trillion on Tuesday, becoming the second publicly traded U.S. company to reach the record valuation after Apple.

 

Those who invested in Amazon stock a year earlier should be pretty happy about the news:

 

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Amazon stock has gained more than 70 percent in 2018 and has more than doubled in the last 12 months. That dwarfs gains by the overall market, with the S&P 500 index gaining 8 percent this year and 16 percent in the last 12 months.

 

My opinion: purely from a business/ pragmatic standpoint, this should make Amazon investors quite happy and bulls even more optimistic. From an ethical standpoint, this news leaves much, too much to be desired. It has been reported previously that Amazon doesn't pay its workers fairly, not enough to have a decent life anyways. Not to mention that Amazon is working on a project (second headquarters) to make its workers pay taxes to the company rather than the government as reported by Secular Talk on Nov 27th 2017. 

[ARikozuM]

Staying out of the inevitable shitscape this thread will produce. Following for entertainment purposes. 

 

On topic: This is good news for investors like myself, but it saddens me as this means they will continue to pervade into areas where small business cannot compete. It almost makes it seem that Judge Dredd's mega-cities may be a concept that will be realized. 

[Muffin_man17]

How wonder how many pee-bottles it took for Amazon to reach that value amount

 

Good for them anyhow.

[TheGlenlivet]

Sorry, had to be done...

[asus killer]

45 minutes ago, Deus Voltage said:

Amazon is working on a project (second headquarters) to make its workers pay taxes to the company rather than the government as reported by Secular Talk on Nov 27th 2017. 

what? must be crazy internet fakeness

[Froody129]

Tbh I think their "worth" is higher than Apple, even if they are monetarily not so 

[suicidalfranco]

6 more companies and we can finally say: "we have to combine these 6 to surpass the Dutch East Indie Company"

[Bouzoo]

35 minutes ago, suicidalfranco said:

Dutch East Indie Company"

So... are they independant?

[PlayStation 2]

50 minutes ago, Froody129 said:

Tbh I think their "worth" is higher than Apple, even if they are monetarily not so 

I mean they do a hell of a lot more than Apple does, so they do have an easier time to reach $1bn and above.

[suicidalfranco]

36 minutes ago, Bouzoo said:

So... are they independant?

Duh, how do you think they made the 7.9 trillion? Selling flowers?!

Of curse not, this company was the foundation of grudge and nu-metal

[Misanthrope]

Yeah you tend to make great profits when you overwork your employees so fucking hard they have to pee in bottles.

[I-r0k]

1 hour ago, Froody129 said:

Tbh I think their "worth" is higher than Apple, even if they are monetarily not so 

If Amazon went down it would be more impact then Apple. 

[Tech Enthusiast]

2 hours ago, I-r0k said:

If Amazon went down it would be more impact then Apple. 

If Amazon went down, we would all pay more for all our products.

If Apple went down, we would pay less for some of our products.

[d-kressjr]

Little anxious... 

[ARikozuM]

5 hours ago, I-r0k said:

If Amazon went down it would be more impact then Apple. 

I would rather Amazon go down so that small business can thrive a bit more. 

[mr moose]

If working conditions in the US are so poor with shit house wages why doesn't every one advocate for minimum wage? 

EDIT: and mandated minimum shifts Plus mandated breaks? 

[ARikozuM]

@mr moose Some states, perhaps federally, have mandated requirements for breaks/leaves. We’re brainwashed into thinking that a wage increase is bad for the economy, yet we’re expected to spend more than we make collectively.

[mr moose]

19 minutes ago, ARikozuM said:

@mr moose Some states, perhaps federally, have mandated requirements for breaks/leaves. We’re brainwashed into thinking that a wage increase is bad for the economy, yet we’re expected to spend more than we make collectively.

Not good.

[TopHatProductions115]

@ARikozuM If you increase wages, who pays for the increase? Who is the added cost passed on to? Where does the added cost re-appear?

[Tellos]

@ARikozuM not bad jsut trouble is companies also know people hate spending more. SO they want ocmpanies to pay more but also not raise prices which buisness wise isint smart. So companies like mine pay us more rates do go up over time people bitch and moan.

[mr moose]

5 hours ago, TopHatProductions115 said:

@ARikozuM If you increase wages, you pays for the increase? Who is the added cost passed on to? Where does the added cost re-appear?

 

3 hours ago, Tellos said:

@ARikozuM not bad jsut trouble is companies also know people hate spending more. SO they want ocmpanies to pay more but also not raise prices which buisness wise isint smart. So companies like mine pay us more rates do go up over time people bitch and moan.

You know those same companies (like amazon) make money in countries like Australia where there is a minimum wage and working condition laws. Prices do go up but they are offset by economical growth.

[LAwLz]

14 minutes ago, mr moose said:

 

You know those same companies (like amazon) make money in countries like Australia where there is a minimum wage and working condition laws. Prices do go up but they are offset by economical growth.

But in that case the buying power of the wages goes down as well, resulting in people still not being able to buy more than before. 

 

If you make 100 and something costs 10 you can buy 10 of them. 

If you make 110 and something costs 11 you can still only buy 10 of them, thus making the situation the same as before. 

 

They could also make an argument that if all counties had laws like Australia the prices would go up in Australia too. Basically, Australia might right now have low prices because wages in other countries are low. You're getting subsidized. 

 

I am not trying to argue against minimum wage laws (I am all for them), but your counter arguments are rather weak. 

 

A better argument would be to look at how much profit companies likes Amazon makes and see if they could raise wages while keeping the prices the same. They would make less money, but they would do that with higher minimum wages anyway. 

[Tellos]

@LAwLz Cept companies don't want to make Less moeny. Investors get mad. And I am not arguing against minimum wages either, Just saying the reality I hear. People shout at me at work over how much they pay, same people who want workers to have more moeny more paid leave more benefits etc. @mr moose however sounds much liek those. At my current job a major ISP we are paid fairly well with nice benefits packages.  And all people bitch over is their bill. Paying me more [and being a US citizen and not an over seas agents which they also complain about] means it costs more. 

[Tech Enthusiast]

4 hours ago, LAwLz said:

A better argument would be to look at how much profit companies likes Amazon makes and see if they could raise wages while keeping the prices the same. They would make less money, but they would do that with higher minimum wages anyway. 

1

Pretty sure they can do that easily.

After all, they already do that in all the countries with minimum wages and laws for breaks etc.

In Germany, the minimum wage is about 9/hour, and a 60min break is mandatory for an 8h shift. I don't know about the average income of people working for Amazon, but I know of two examples. One working on packaging kinda. So the bottom of the barrel kinda deal. He is making 13/hour. The other is a little higher, working on some management kinda deals. Very low level managing tho, so not a suit-wearing executive, more like making sure the packaging dues do their job correctly. His income is around 18/hour.

 

From all I hear about the US, this is A LOT more. And they still have equivalent pricing for products. So yeah, it is possible.

[Misanthrope]

4 hours ago, Tellos said:

@LAwLz Cept companies don't want to make Less moeny. Investors get mad. And I am not arguing against minimum wages either, Just saying the reality I hear. People shout at me at work over how much they pay, same people who want workers to have more moeny more paid leave more benefits etc. @mr moose however sounds much liek those. At my current job a major ISP we are paid fairly well with nice benefits packages.  And all people bitch over is their bill. Paying me more [and being a US citizen and not an over seas agents which they also complain about] means it costs more. 

Fair wages and working conditions are basically incompatible with a profit-driven multinational company the size of Amazon. We have direct conflict with liberal (as in Neo-liberal) ideals here since you cannot expect Amazon to downsize or anybody else to compete without implementing the same (or rather, worst) predatory employment and competition tactics to have a chance to compete.

In fact Amazon is big enough and with a unique set of needs (Thrives on local distribution so it cannot use the usual dirty tactics of just sending labor off shores and abroad to cut costs by exploiting weaker economies on other countries) means that it will be on the forefront of full automation on all levels of it's distribution chain. It is also big enough to push out plenty of competitors and even entire industry segments so as they eventually just get rid of most of their workforce people will need to start talking about living wages Universal basic Income the current economical system is just unable to deal with a company like them.