Amazon Hits the $1 Trillion Milestone

Discussion in 'HardForum Tech News' started by cageymaru, Sep 4, 2018.

  1. cageymaru

    cageymaru [H]ard as it Gets

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    Amazon has finally surpassed the $1 trillion milestone after a brief increase in value of 1.9% even though the tech sector has been hammered on the stock exchanges. The value of Amazon stock has tripled in price over the past 3 years. Not bad for Jeff Bezos as he started the company as an online book seller run from a small Seattle garage. They now join Apple in the $1 trillion club.

    TRILLION TIMES TWO: Amazon became the second publicly-traded company to reach $1 trillion in market value. It later gave up some of that gain, but was still trading up 1.2 percent to $2,036.40, which gave it a market value of $993 billion.
     
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  2. HeadRusch

    HeadRusch [H]ard|Gawd

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    Lex Luthor, the old guy from Contact, Peter Weiland from Prometheus, Jeff Bezos.............all bald. I'll just leave that there.......

    Are you bald? You may be an underutilized manaical leader!
     
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  3. harbingerofdoom

    harbingerofdoom Gawd

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    this is why i am currently working on my army of poop flinging monkeys- its a critical step in my plans for global domination.
     
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  4. ssnyder28

    ssnyder28 2[H]4U

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    A friend of mine was wearing this shirt the other day and it cracked me up:

    aliens-weyland-yutani-shirt-yellow-2xl.jpg
     
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  5. Uvaman2

    Uvaman2 2[H]4U

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    So the lower prices are where?
     
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  6. Wrecked Em

    Wrecked Em [H]ardness Supreme

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    Don't forget the tech genius known as Steve Balmer.
     
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  7. HeadRusch

    HeadRusch [H]ard|Gawd

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    ...why, bro? why.... :D
     
  8. tetris42

    tetris42 [H]ardness Supreme

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    That's not how this works.
     
  9. Rahh

    Rahh [H]ard|Gawd

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    I sold too soon. *whine*
     
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  10. Chris_B

    Chris_B [H]ardness Supreme

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    Well, safe to say ol Jeff is ok for some spare change.


    :eek::eek:
     
  11. homernoy

    homernoy Limp Gawd

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  12. jnmunsey

    jnmunsey Limp Gawd

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    Amazon is not the second public company to reach 1 trillion, they are the third.
     
  13. STrooperTK421

    STrooperTK421 Limp Gawd

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    $164.something billion...wow, meanwhile the workers who, oh I don't know, actually do the fucking work are treated like dirt and having to obtain government assistance in order to put food on the table. HUUURRRR but I can't pay my workers more, I mean, think of the shareholders!

    Now mind you, this isn't about jealously, far from it actually. This is about the epic societal destabilization that occurs when this much wealth is concentrated in the hands of so few. History has taught us again and again that this is BAD FOR EVERYONE... but motherfuckers don't learn and then violence occurs, a bunch of people get dead, and the whole cycle begins all over again.

    Wonder what form it will take this time when our number finally comes up?

    EDIT: Oh, and BTW, I used to work for Amazon in LMTOC-SDS (AMZL DP/DA & customer support) and it was the same thing there - drink the company propo...cough...Kool-Aide, lie your ass off or we will fire you, fuck the customer, fuck their products they paid their money for, PROTECT AMAZON at all costs! Yeah, fuck that company.
     
    Last edited: Sep 4, 2018
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  14. Chunder

    Chunder Gawd

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    Welcome to the new Gilded Age. Meanwhile...

    https://www.washingtonpost.com/busi...-pay-up/?noredirect=on&utm_term=.e4997a247c4f

    Got to love corporate welfare that we're paying for while they barely pay any taxes. They're worth over $1,000,000,000,000, but can't pay their workers at least $15 w/ full benefits and share in profits that THEY and ONLY THEY created (Bezos doesn't produce a penny). It should realistically be over $20 going by past wages and inflation, increase in productivity, wealth, etc.(minimum wage was $11.77 in 1968 when adjusted for inflation, increase in worker productivity since then would make it $19.33 today) which our Scandinavian brothers and sisters already do successfully. (Before a corporate bootlicker brings up a logical fallacy, technically Denmark and its $23 minimum wage isn't really a "minimum wage". It's just what their heavily union controlled nation has agreed to pay a minimum of without government officially mandating it)

    "Fun" fact: It would cost Amazon $23.63 billion to pay all 566,000 employees $20 (41,760 a year), they made $65.93 billion in profit last year after all expenses... They would've made 42.3 billion in profit paying all their employees a proper income. Throw in full benefits, and they'd still be well over 40 billion in revenue...


    Sources:

    Amazon's Revenue/profit
    https://www.nasdaq.com/symbol/amzn/financials?query=income-statement

    Amazon's Number of Employees
    https://www.statista.com/statistics/234488/number-of-amazon-employees/

    Cost to pay employees
    Basic math. 566,000 employees x $20 x 8 hours x 261 weekdays in a year = $23.63 billion.

    Bonus fact:
    $30/hr ($62.640 a year) would cost them $35.45 billion and leave them with a net revenue of $30.48 billion. Even if we went "crazy" and paid every employee $50 ($104,000 a year), it'd cost them $59.09 billion and leave them with a net revenue of $6.84 billion...
     
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  15. Dayaks

    Dayaks [H]ardness Supreme

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    That’s not how you figure out a cost of an employee. The lowest burdened rates I’ve personally seen is 125% in shitholes.

    And their net income was only $3B.....
     
  16. STrooperTK421

    STrooperTK421 Limp Gawd

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    Oh but HUUUURRRR we can't have that socialist commie pinko shit around here, this is 'murica!

    ...and liberty and justice for all...IF YOU CAN AFFORD IT.

    This shit makes me fucking ANGRY.
     
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  17. Chunder

    Chunder Gawd

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    Burdened rates are largely only used to figure in taxes, benefits, extra compensation, etc on top of normal wages. Hard to go into with the various 50 states tax rates, various benefits that Amazon could potentially offer, what extra comp one would get, etc. We'd be in speculative territory with that.

    Notice I mentioned net profit, or what they have left over from their total revenue after paying all their operating expenses. Not net income, what they have left after spending their profits on BS, like CEO pay, corporate buyouts, lobbyist expenses, , stock buybacks, etc. You really need to dive into their financial record to get the real story... They spent 61.82 billion in administration alone (stockholders, CEOs, board members, etc, regional managers, lawyers, etc). Those people, like Jeff Bezos and his 164.7 billion in net worth, don't need to be taking that kind of money from the workers that actually produce the wealth.
     
    Last edited: Sep 4, 2018
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  18. Nanogrip

    Nanogrip Limp Gawd

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    I think once you've become a multi-billionaire, you start to think at a vastly different plane:

    "Hmmm... there's just too much effort to wipe after pooping... I think I'll look for a South American tribal virgin teen to clean myself off from now on."
    "This black rhino fillet mignon doesn't have that appeal anymore, I guess I'll have to contact the Indian government again to stock up on pygmy elephant meat."
    "Do you like my leather jacket? It's made from beautiful, authentic, Tenochtitlan sacrificial skin."
    "Oh look, we've broken into the atmosphere... for the thousandth time... beautiful blue earth... *yawn*"
     
  19. Dayaks

    Dayaks [H]ardness Supreme

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    Sure, just ignore half the costs of doing business because you don’t agree with them.

    I get what you mean on a smaller scale though - and extra few bucks an employee wouldn’t kill them.
     
  20. Red Falcon

    Red Falcon [H]ardForum Junkie

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    To quote myself from the Apple Topples $1 Trillion Mark in Value thread:

    It really is starting to happen - the very beginnings of megacorporations really is starting now for real...

    oBkg42W.jpg