Did Jeff Bezos just pull a Henry Ford?

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Ron Scott
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Did Jeff Bezos just pull a Henry Ford?

Post by Ron Scott » Wed Oct 03, 2018 11:49 am

Amazon just raised the minimum wage for its employees, about 250,000 affected workers, to $15 an hour. The company said it would also lobby Washington to raise the federal minimum wage, which has been set at $7.25 for almost a decade.

As I remember the story, Henry Ford decided to pay his workers more than average so that they could afford to buy one of the cars they were making, thus “driving“ sales.

Is this Jeff Bezos’ “crazy like a fox“ play? Is he trying to improve the standard of living of hundreds of thousands of workers in part so they will buy more products on Amazon? If Amazon is successful in getting a minimum wage increase in the United States, will that have a much broader effect on the sale of consumer products?
Retirement is a game best played by those prepared for more volatility in the future than has been seen in the past. The solution is not to predict investment losses but to prepare for them.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by KyleAAA » Wed Oct 03, 2018 11:59 am

I think part of it is political pressure (Amazon is not well-liked in Seattle) and yeah, part of it is probably what you say although I don't know how you would quantify what the impact would actually be with all the complexity involved. I wouldn't discount that he probably legitimately thinks it's the right thing to do, though.

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Carlos Danger
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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Carlos Danger » Wed Oct 03, 2018 12:05 pm

Ron Scott wrote:
Wed Oct 03, 2018 11:49 am
If Amazon is successful in getting a minimum wage increase in the United States, will that have a much broader effect on the sale of consumer products?
The answer is absolutely yes. A national minimum wage hike would be huge for Amazon's sales.

Lower class and lower middle class spend essentially every dollar they bring in on consumer goods after spending on rent, utilities, etc.

Paying just their OWN workers a minimum of $15/hour won't have much of an impact on sales. It's wages rising across the nation for unskilled labor & minimum wage range jobs that would start to have in impact.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by bottlecap » Wed Oct 03, 2018 12:10 pm

Amazon will not benefit unless it is successful in establishing a federal minimum wage that competitors and mom and pop stores can't compete with.

That's the crazy like a fox part. Walmart supports higher minimum wages, too. It drives out competitors who can't compete.

The idea that simply raising workers wages increases sales of the company is an old canard. Even if you could somehow ensure that all of the increased wages are spent at the employer's business, which you can't at all, you've just increased the cost of your goods.

Robots win, too. Amazon already has robots. It will hire even more now. With less media coverage and no announcement, of course.

There's no free lunch.

JT

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by PVW » Wed Oct 03, 2018 12:11 pm

Ron Scott wrote:
Wed Oct 03, 2018 11:49 am
Amazon just raised the minimum wage for its employees, about 250,000 affected workers, to $15 an hour. The company said it would also lobby Washington to raise the federal minimum wage, which has been set at $7.25 for almost a decade.

As I remember the story, Henry Ford decided to pay his workers more than average so that they could afford to buy one of the cars they were making, thus “driving“ sales.

Is this Jeff Bezos’ “crazy like a fox“ play? Is he trying to improve the standard of living of hundreds of thousands of workers in part so they will buy more products on Amazon? If Amazon is successful in getting a minimum wage increase in the United States, will that have a much broader effect on the sale of consumer products?
My guess is that Amazon is supporting an increase in minimum wage so that it squeezes out competition that has lower margins. From what I can see, Amazon is always looking out for #1.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by masteraleph » Wed Oct 03, 2018 12:11 pm

Ron Scott wrote:
Wed Oct 03, 2018 11:49 am
Amazon just raised the minimum wage for its employees, about 250,000 affected workers, to $15 an hour. The company said it would also lobby Washington to raise the federal minimum wage, which has been set at $7.25 for almost a decade.
Amazon actually did a relatively similar thing on sales tax- they fought internet sales tax tooth and nail, banned affiliates from certain states when those states decided that paying affiliates for clickthroughs counted as a local nexus, but, as pressure from the various states became greater, began a program of expanding warehouses into different states, charging sales tax everywhere and ultimately pushing for sales tax to be imposed more broadly on online sellers. In the process, they also shifted towards more of a rapid delivery model- the increase in same day delivery items, for example, is possible because of that expansion, and the expansion gives them a leg up on competition who are now being forced to pay sales tax in many settings after last year's Supreme Court decision.

Similarly, Amazon will be much better situated if a higher minimum wage were to be passed if they have already moved in that direction.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Momus » Wed Oct 03, 2018 12:11 pm

Wow props to him, I thought he is a greedy bastard :D He is the richest billionaire without any philanthropy activities (when compared to others).

He just gave out what? $7 avg increase X 40 X 52 weeks X 250,000 workers = $3.6 billion out of the company pocket book (probably less - not all worker work full time, not everyone making minimum wage)? A small chump of change, he clearly can afford it with his $166 bil networth XD
Last edited by Momus on Wed Oct 03, 2018 12:19 pm, edited 1 time in total.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Jags4186 » Wed Oct 03, 2018 12:19 pm

I’ve always wondered how people who have skills and a college education and make around $15/hr will react when the 16 year old ice cream scooper is making $15/hr.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by KyleAAA » Wed Oct 03, 2018 12:30 pm

Momus wrote:
Wed Oct 03, 2018 12:11 pm
Wow props to him, I thought he is a greedy bastard :D He is the richest billionaire without any philanthropy activities (when compared to others).

He just gave out what? $7 avg increase X 40 X 52 weeks X 250,000 workers = $3.6 billion out of the company pocket book (probably less - not all worker work full time, not everyone making minimum wage)? A small chump of change, he clearly can afford it with his $166 bil networth XD
Amazon warehouses were paying more than $7/hr in the late 90s, so I doubt it amounts to a $7 raise. IIRC, the local distribution warehouse started at $9/hr back then. I doubt many of their workers were making minimum wage, if any.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Whakamole » Wed Oct 03, 2018 12:38 pm

masteraleph wrote:
Wed Oct 03, 2018 12:11 pm
Ron Scott wrote:
Wed Oct 03, 2018 11:49 am
Amazon just raised the minimum wage for its employees, about 250,000 affected workers, to $15 an hour. The company said it would also lobby Washington to raise the federal minimum wage, which has been set at $7.25 for almost a decade.
Amazon actually did a relatively similar thing on sales tax- they fought internet sales tax tooth and nail, banned affiliates from certain states when those states decided that paying affiliates for clickthroughs counted as a local nexus, but, as pressure from the various states became greater, began a program of expanding warehouses into different states, charging sales tax everywhere and ultimately pushing for sales tax to be imposed more broadly on online sellers. In the process, they also shifted towards more of a rapid delivery model- the increase in same day delivery items, for example, is possible because of that expansion, and the expansion gives them a leg up on competition who are now being forced to pay sales tax in many settings after last year's Supreme Court decision.
That was intentional. Previously there was an advantage to buying (for instance) electronics and computer parts from Newegg if you didn't live in California; shipping was usually free above a certain amount, and no sales tax was collected. Now all these vendors have to collect sales tax, which can be prohibitive if you are a very small mail order business. Of course you can always decide to sell on Amazon instead so they can get a (big) cut of the profits...

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Broken Man 1999 » Wed Oct 03, 2018 12:45 pm

Well done, Mr Bezos! You have purchased a good amount of political coverage. Not that there anything wrong with that.

Of course the alcolades won't last forever. Soon there will be cries of $XX.00/hr here and there.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by GT99 » Wed Oct 03, 2018 12:57 pm

bottlecap wrote:
Wed Oct 03, 2018 12:10 pm
Amazon will not benefit unless it is successful in establishing a federal minimum wage that competitors and mom and pop stores can't compete with.

That's the crazy like a fox part. Walmart supports higher minimum wages, too. It drives out competitors who can't compete.

The idea that simply raising workers wages increases sales of the company is an old canard. Even if you could somehow ensure that all of the increased wages are spent at the employer's business, which you can't at all, you've just increased the cost of your goods.

Robots win, too. Amazon already has robots. It will hire even more now. With less media coverage and no announcement, of course.

There's no free lunch.

JT
Ding, ding, ding, we have a winner. Long term, this is bad for low income people. It drives out competition that can't absorb the increased labor cost as readily as Amazon, increases the cost of doing business, and increases the ROI of automation and of outsourcing to other countries. Net effect - inflation and fewer unskilled jobs.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Steve723 » Wed Oct 03, 2018 12:58 pm

Agree with the others that this is more about squeezing out the smaller competitors that don't have the wherewithal to pay this much and getting some of the politicians off their back (e.g. Bernie Sanders). There is nothing wrong with what they did and congrats to those employees who will be the recipients of the increase. However, make no mistake this was done out of pure self interest, not some broad stroke of corporate benevolence.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by jminv » Wed Oct 03, 2018 1:05 pm

Another aspect is that you get your pick of workers by having higher than average wages so it's similar to what Costco does. Also, I'd imagine they want to ultimately reduce/have been reducing those on the lower part of the pay scale through productivity improvements (fully autonomous warehouses, etc) so in the long run it won't be as big of an issue. Getting somewhat ahead of it also prevents it from becoming a major issue like Walmart had which really hurt their brand. It's good marketing and with their increasing size he needs to maintain a positive public image for the company to ward of regulators and public campaigning against them.

Ford decided to pay more money because he had trouble getting employees to stay for more than a few months. The high turnover was costly and resulted in poor productivity. By offering a high salary he got to pick the ones least likely to quit and the workers themselves didn't have somewhere else to easily defect to so they stayed (golden handcuffs more or less). The 'able to buy a Ford' line was more marketing (to the public and current/potential employees) than the business reason behind the decision.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by barnaclebob » Wed Oct 03, 2018 1:18 pm

GT99 wrote:
Wed Oct 03, 2018 12:57 pm
Ding, ding, ding, we have a winner. Long term, this is bad for low income people. It drives out competition that can't absorb the increased labor cost as readily as Amazon, increases the cost of doing business, and increases the ROI of automation and of outsourcing to other countries. Net effect - inflation and fewer unskilled jobs.
This has been the same argument since a minimum wage was proposed and every time its been increased since then. The lights are still on.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by bhsince87 » Wed Oct 03, 2018 1:25 pm

KyleAAA wrote:
Wed Oct 03, 2018 12:30 pm
Momus wrote:
Wed Oct 03, 2018 12:11 pm
Wow props to him, I thought he is a greedy bastard :D He is the richest billionaire without any philanthropy activities (when compared to others).

He just gave out what? $7 avg increase X 40 X 52 weeks X 250,000 workers = $3.6 billion out of the company pocket book (probably less - not all worker work full time, not everyone making minimum wage)? A small chump of change, he clearly can afford it with his $166 bil networth XD
Amazon warehouses were paying more than $7/hr in the late 90s, so I doubt it amounts to a $7 raise. IIRC, the local distribution warehouse started at $9/hr back then. I doubt many of their workers were making minimum wage, if any.
Amazon workers around here start at $14.50 an hour, and go to $15.50 after 90 days. And this is just an average cost of living area.

And they have a really hard time keep workers at those wages.

So with the holiday rush season approaching, they probably didn't have much choice.
That being said, it probably is a good indicator for the economy.
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Re: Did Jeff Bezos just pull a Henry Ford?

Post by knpstr » Wed Oct 03, 2018 1:32 pm

Ron Scott wrote:
Wed Oct 03, 2018 11:49 am
Amazon just raised the minimum wage for its employees, about 250,000 affected workers, to $15 an hour. The company said it would also lobby Washington to raise the federal minimum wage, which has been set at $7.25 for almost a decade.

As I remember the story, Henry Ford decided to pay his workers more than average so that they could afford to buy one of the cars they were making, thus “driving“ sales.

Is this Jeff Bezos’ “crazy like a fox“ play? Is he trying to improve the standard of living of hundreds of thousands of workers in part so they will buy more products on Amazon? If Amazon is successful in getting a minimum wage increase in the United States, will that have a much broader effect on the sale of consumer products?
Michigan's minimum wage is $9.25/hr -- the average factory worker makes much more than that as it is already.

Also, Ford didn't pay $5 just to be nice or so his employees could buy cars. His factories had 370% turnover per year. People coming/going so quickly was killing the company. Also the auto industry was even MORE seasonal than it is now. So his $5 wasn't going to be going strong all year round.
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JoMoney
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Re: Did Jeff Bezos just pull a Henry Ford?

Post by JoMoney » Wed Oct 03, 2018 1:32 pm

It might be good PR but bad math:
https://finance.yahoo.com/news/amazon-e ... 28353.html
... While these workers’ hourly rates will rise modestly, they said they could lose thousands of dollars that they would have collected from the stock and monthly-bonus programs. Amazon said those who are already making $15 an hour will see an increase in pay but did not specify how much.

An employee earning $15.25 an hour who has worked for Amazon for more than three years in Arizona crunched the numbers. Although he is getting a $1 an hour raise, which would equate to as much as $2,080 in additional pay a year, he said he could have earned a few thousands of dollars more from the incentive programs. “Amazon isn’t giving its employees a raise, they’re taking money from us,” he told Yahoo Finance. “It only looks good if folks don’t know the truth.”
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Shallowpockets » Wed Oct 03, 2018 1:33 pm

Why do so many hate Amazon. They used to hate Walmart. Always hating the big guy.
Higher wage will hurt low income workers??? Tell that to those workers. Tell that to those workers who had a job in a rural area at Walmart because there are no other jobs.
Here is your Mom and Pop hardware employing 3 people, comes along Amazon and Walmart and they are employing a whole lot more people than Mom and Pop.
Costco employs people with greater wages than the usual. OK, well and good. But now we find after this Amazon wage increase that it is all just a scheme. A conspiracy. Drive everyone else out of business.
Now I see. I was almost so dumb I thought the Amazon wage increase was good. Now I am looking forward to the Michael Moore movie about how nefarious and deceitful Amazon really is.
Sorry workers. When you look at your new paycheck and smile, then read here and find you are a sucker in the scheme.
Last edited by Shallowpockets on Wed Oct 03, 2018 1:50 pm, edited 1 time in total.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by bottlecap » Wed Oct 03, 2018 1:40 pm

barnaclebob wrote:
Wed Oct 03, 2018 1:18 pm
GT99 wrote:
Wed Oct 03, 2018 12:57 pm
Ding, ding, ding, we have a winner. Long term, this is bad for low income people. It drives out competition that can't absorb the increased labor cost as readily as Amazon, increases the cost of doing business, and increases the ROI of automation and of outsourcing to other countries. Net effect - inflation and fewer unskilled jobs.
This has been the same argument since a minimum wage was proposed and every time its been increased since then. The lights are still on.
Wasn't the whole argument that Amazon had to pay more because the average worker couldn't keep the lights on desspite measures in the past?

I suppose the lights are still on in North Korea, too. There are just less of them and they are for rich people.

JT

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Big Dog » Wed Oct 03, 2018 1:59 pm

Amazon will not benefit unless it is successful in establishing a federal minimum wage that competitors and mom and pop stores can't compete with.

That's the crazy like a fox part. Walmart supports higher minimum wages, too. It drives out competitors who can't compete.
Bingo! Nothing more than Big Corporation asking Big Government to raise the costs of competitors.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by pahkcah » Wed Oct 03, 2018 2:03 pm

Several news reports also stated that the package includes:

- comprehensive health care coverage
- company-paid life and disability insurance
- up to 20 weeks of paid parental leave
- a 401k retirement plan with matching contributions
- 95% of employee tuition for courses in high-demand fields at Amazon or another company.

Sounds like the total cost for Amazon may be considerably more than the estimated numbers associated with the pay increase.

pahkcah

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by cdu7 » Wed Oct 03, 2018 2:05 pm

Big Dog wrote:
Wed Oct 03, 2018 1:59 pm
Amazon will not benefit unless it is successful in establishing a federal minimum wage that competitors and mom and pop stores can't compete with.

That's the crazy like a fox part. Walmart supports higher minimum wages, too. It drives out competitors who can't compete.
Bingo! Nothing more than Big Corporation asking Big Government to raise the costs of competitors.
What is one thing that Amazon has done that has been bad for the consumer? I literally can't think of one single thing. Yeah they destroy the competition, by providing incredible services at incredible prices and they just keep pushing.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by Whakamole » Wed Oct 03, 2018 2:12 pm

cdu7 wrote:
Wed Oct 03, 2018 2:05 pm
Big Dog wrote:
Wed Oct 03, 2018 1:59 pm
Amazon will not benefit unless it is successful in establishing a federal minimum wage that competitors and mom and pop stores can't compete with.

That's the crazy like a fox part. Walmart supports higher minimum wages, too. It drives out competitors who can't compete.
Bingo! Nothing more than Big Corporation asking Big Government to raise the costs of competitors.
What is one thing that Amazon has done that has been bad for the consumer? I literally can't think of one single thing. Yeah they destroy the competition, by providing incredible services at incredible prices and they just keep pushing.
Prices haven't been incredible for some time.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by JoMoney » Wed Oct 03, 2018 2:12 pm

cdu7 wrote:
Wed Oct 03, 2018 2:05 pm
Big Dog wrote:
Wed Oct 03, 2018 1:59 pm
Amazon will not benefit unless it is successful in establishing a federal minimum wage that competitors and mom and pop stores can't compete with.

That's the crazy like a fox part. Walmart supports higher minimum wages, too. It drives out competitors who can't compete.
Bingo! Nothing more than Big Corporation asking Big Government to raise the costs of competitors.
What is one thing that Amazon has done that has been bad for the consumer? I literally can't think of one single thing. Yeah they destroy the competition, by providing incredible services at incredible prices and they just keep pushing.
Pretty sure they were arguing it's bad for Amazon's competitors, not the consumer... but they have been accused of price gouging people prepping for disasters:
https://www.businessinsider.com.au/amaz ... ?r=US&IR=T
And using manipulative pricing techniques
https://www.recode.net/2015/1/13/115577 ... est-prices
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Re: Did Jeff Bezos just pull a Henry Ford?

Post by DartThrower » Wed Oct 03, 2018 2:20 pm

Steve723 wrote:
Wed Oct 03, 2018 12:58 pm
Agree with the others that this is more about squeezing out the smaller competitors that don't have the wherewithal to pay this much and getting some of the politicians off their back (e.g. Bernie Sanders). There is nothing wrong with what they did and congrats to those employees who will be the recipients of the increase. However, make no mistake this was done out of pure self interest, not some broad stroke of corporate benevolence.
This is one reason it may be preferable to implement a negative income tax instead of raising the minimum wage. It is more economically efficient and can accomplish just as much to help the working poor.
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Re: Did Jeff Bezos just pull a Henry Ford?

Post by HomerJ » Wed Oct 03, 2018 2:33 pm

cdu7 wrote:
Wed Oct 03, 2018 2:05 pm
What is one thing that Amazon has done that has been bad for the consumer? I literally can't think of one single thing. Yeah they destroy the competition, by providing incredible services at incredible prices and they just keep pushing.
Well, they raised prices on Kindle books, so they are now MORE expensive than hard-cover or paperback.

Got me hooked on e-readers, now they're increasing the price. Very frustrating, since it obviously costs less to distribute electronic copies instead of actual physical books. Seems to be a monopoly type thing there.

I actually bought my first real book in about 5 years last week (from Walmart, not Amazon), because it was half the price of the Kindle version.
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Re: Did Jeff Bezos just pull a Henry Ford?

Post by randomguy » Wed Oct 03, 2018 2:35 pm

Shallowpockets wrote:
Wed Oct 03, 2018 1:33 pm
Why do so many hate Amazon. They used to hate Walmart. Always hating the big guy.
Higher wage will hurt low income workers??? Tell that to those workers. Tell that to those workers who had a job in a rural area at Walmart because there are no other jobs.
Here is your Mom and Pop hardware employing 3 people, comes along Amazon and Walmart and they are employing a whole lot more people than Mom and Pop.
Costco employs people with greater wages than the usual. OK, well and good. But now we find after this Amazon wage increase that it is all just a scheme. A conspiracy. Drive everyone else out of business.
Now I see. I was almost so dumb I thought the Amazon wage increase was good. Now I am looking forward to the Michael Moore movie about how nefarious and deceitful Amazon really is.
Sorry workers. When you look at your new paycheck and smile, then read here and find you are a sucker in the scheme.
Amazon and the like hire more people than mom and pop. They hire less people than the 20x mom and pop stores they replace:) That effects say 1000 people. The other 49k people in the community get to enjoy lower prices on everything though. You end up with different winners and losers and predicting the interactions is hard to say.

The whole Ford story is a bit of a myth. https://www.forbes.com/sites/timworstal ... 68a122766d . Ford paid higher wages to reduce his costs not so employees could buy cars. Same reason why Costco and company do it today.

Who the heck knows why Bezos is doing it. Maybe it is to get better workers. Maybe he thinks it will help squeeze out competitors. Maybe it is PR. Or maybe a mixture.

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by JoMoney » Wed Oct 03, 2018 2:35 pm

HomerJ wrote:
Wed Oct 03, 2018 2:33 pm
cdu7 wrote:
Wed Oct 03, 2018 2:05 pm
What is one thing that Amazon has done that has been bad for the consumer? I literally can't think of one single thing. Yeah they destroy the competition, by providing incredible services at incredible prices and they just keep pushing.
Well, they raised prices on Kindle books, so they are now MORE expensive than hard-cover or paperback.

Got me hooked on e-readers, now they're increasing the price. Very frustrating, since it obviously costs less to distribute electronic copies instead of actual physical books. Seems to be a monopoly type thing there.

I actually bought my first real book in about 5 years last week (from Walmart, not Amazon), because it was half the price of the Kindle version.
That reminds me of another 'bad for consumer' issue, when they deleted e-books people had purchased.
https://www.nytimes.com/2009/07/18/tech ... mazon.html
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Re: Did Jeff Bezos just pull a Henry Ford?

Post by randomguy » Wed Oct 03, 2018 2:38 pm

HomerJ wrote:
Wed Oct 03, 2018 2:33 pm
cdu7 wrote:
Wed Oct 03, 2018 2:05 pm
What is one thing that Amazon has done that has been bad for the consumer? I literally can't think of one single thing. Yeah they destroy the competition, by providing incredible services at incredible prices and they just keep pushing.
Well, they raised prices on Kindle books, so they are now MORE expensive than hard-cover or paperback.

Got me hooked on e-readers, now they're increasing the price. Very frustrating, since it obviously costs less to distribute electronic copies instead of actual physical books. Seems to be a monopoly type thing there.

I actually bought my first real book in about 5 years last week (from Walmart, not Amazon), because it was half the price of the Kindle version.
Shouldn't you pay more for the convenience of getting a book instantly and having it available where ever you are? :) People like to price things off COG+profit while in reality price is set by what people will pay. If they will not pay enough, the product ceases to exist. I know I struggle with this issue a lot. I mean I can buy a bunch of blue rays with a digital download for cheaper than just the download. But I do have to wait 48 hours to get that disc:)

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by simmias » Wed Oct 03, 2018 2:47 pm

HomerJ wrote:
Wed Oct 03, 2018 2:33 pm
cdu7 wrote:
Wed Oct 03, 2018 2:05 pm
What is one thing that Amazon has done that has been bad for the consumer? I literally can't think of one single thing. Yeah they destroy the competition, by providing incredible services at incredible prices and they just keep pushing.
Well, they raised prices on Kindle books, so they are now MORE expensive than hard-cover or paperback.

Got me hooked on e-readers, now they're increasing the price. Very frustrating, since it obviously costs less to distribute electronic copies instead of actual physical books. Seems to be a monopoly type thing there.

I actually bought my first real book in about 5 years last week (from Walmart, not Amazon), because it was half the price of the Kindle version.
I get mine for nothing from a magical place called "The Library."

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JoMoney
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Re: Did Jeff Bezos just pull a Henry Ford?

Post by JoMoney » Wed Oct 03, 2018 2:51 pm

simmias wrote:
Wed Oct 03, 2018 2:47 pm
...
I get mine for nothing from a magical place called "The Library."
Library's are great. I love browsing physical books, and the closing of book stores is another unfortunate for consumers situation that Amazon contributed to.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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Re: Did Jeff Bezos just pull a Henry Ford?

Post by prudent » Wed Oct 03, 2018 2:51 pm

Topic is locked, not investing related.

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