The Amazon CEO will tell lawmakers Amazon is great for small businesses, customers and its investors.
Bezos will tell the House Antitrust Subcommitee that Amazon now employs a million people and that it built an online marketplace that allows some third-party sellers -- independent "entrepreneurs" -- to make more than $100,000 a year. He acknowledges that Amazon is "a large company" but that its sprawling scale has created more than $1 trillion of wealth for its shareholders, which include "fire, police, and school teacher pension funds.
The remarks also highlight personal information about his life, like the fact that his mother was a 17-year-old high school student when he was born, and that his adoptive father emigrated from Cuba. They were among Amazon's first investors. "It's not a coincidence that Amazon was born in this country," Bezos said in his prepared remarks. "More than any other place on Earth, new companies can start, grow, and thrive here in the U.S."
In a common theme for Bezos and the company, the statement repeatedly mentions Amazon's drive to please customers, and notes that this focus has made Amazon one of the country's most trusted institutions. "Researchers at Georgetown and New York University found in 2018 that Amazon trailed only the military among all respondents to a survey on institutional and brand trust. Among Republicans, we trailed only the military and local police; among Democrats, we were at the top, leading every branch of government, universities, and the press," the statement says.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bigger And Brawnier: Clout Of Amazon And CEO Jeff Bezos Under ScrutinyJeff Bezos is making his first appearance before Congress on Wednesday. Lawmakers are likely to grill him about the reach of Amazon, the rules it sets for its workers, and the power imbalance with other sellers on its platform.
Read more »
What Amazon's Jeff Bezos should expect from the tech antitrust hearing - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Amazon India expands Flex scheme for part-time delivery drivers - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Amazon Boards Emily Mortimer's 'Pursuit of Love' MiniseriesLily James stars in a BBC miniseries based on Nancy Mitford's novel 'The Pursuit of Love'
Read more »
Google beefs up ecommerce to compete with Amazon for search revenue - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
On Amazon, Dubious 'Antiviral' Supplements Proliferate Amid PandemicFederal law generally prohibits dietary supplements from claiming to treat specific diseases or viruses. Yet NPR found more than 100 products sold on Amazon that make unsubstantiated antiviral claims.
Read more »