![]() “In fact, we wrote an agreement on a napkin in a bar, my understanding is the statute of limitations on that napkin has expired,” he said. He had agreed with his wife that they would go out to the west coast for only three years. I didn’t know what my title was going to be, but it was very important to them that I show up that Monday.” Amazon floated on. “I started at Amazon the next Monday, I didn’t know what my job was going to be. “I took my last final exam of graduate school the first Friday of May 1997,” Jassy said in an interview with tech site Recode. Jassy, who grew up in the affluent town of Scarsdale in New York state and went to Harvard University and Harvard Business School, joined Amazon in 1997 as it prepared to float on the stock market. Years earlier, it had been his idea to expand Amazon from purely an online bookshop to CDs and DVDs.ĭan Ives, another analyst at Wedbush, described Jassy as “one of the most powerful leaders, not just within the cloud and tech sector but in the world of business”. It was not the first time Jassy has pitched a pivotal business development idea. “I don’t think any of us had the audacity to predict it would grow as big or as fast as it has,” Jassy has said of AWS. Jassy pitched the idea of extending the internal network to other companies at a corporate executive retreat in 2003 and Bezos gave the go-ahead. He discovered the delays were being caused by the difficulty engineers were having sharing large amounts of data with one another, and the idea for internal cloud storage was born. In the early 2000s, when Jassy was Bezos’s chief of staff, he was tasked with finding out why engineers were taking so long to develop new applications. Despite AWS representing 12% of total first-quarter revenue, the division made $4.2bn in operating income, which works out at 46% of Amazon’s total profit.Īmazon’s move into cloud storage was Jassy’s idea. AWS is also Amazon’s most reliable source of profit. On the plus side, Jassy has the trust of Bezos after running the AWS division, which brought in $13.5bn of revenue in the first three months of 2021, a 32% increase on the same period a year earlier. “Jassy will run the meetings but anything that requires a strategic decision and a lot of money, they will take it to Bezos,” Pachter says. Jassy will have to do that, and run the company, with Bezos sitting on his shoulder as chair. ![]() “Jassy is going to have to become a spokesperson and to be the guy who testifies before Congress.” That stuff will have to be cleaned up,” Pachter says. “The retail division got so frenzied to provide a remarkable for customers, it probably did take advantage of employees. ![]() Michael Pachter, an analyst at Wedbush Securities, said Jassy’s biggest challenge will be handling that scrutiny. ![]() That success has heightened scrutiny of Amazon and demands for further regulatory controls on a company that has been heavily criticised for its low tax payments and treatment of workers. Jeff Bezos will step back from day-to-day running of Amazon to focus on other projects, such as his space exploration company Blue Origin. Fifteen-minute supermarkets like Weezy make Amazon look like a laggard.” There are a lot of other disruptive businesses coming in. There is a challenge to innovate at scale and maintain agility and culture that’s allowed them to be as nimble as they have been. “There is a risk of going from disruptor to disrupted. “He will have to balance trying to be everywhere and everything to everyone with the limits to that,” says Natalie Berg, a retail analyst and co-author of Amazon: How the World’s Most Relentless Retailer Will Continue to Revolutionise Commerce. And, as Bezos takes on fresh challenges – including taking a flight into space on his Blue Origin company’s rocket later this month – Jassy will be tasked with retaining the company’s “day one” startup philosophy at what is now one of the world’s largest companies, employing more than 1.3 million people. Jassy’s elevation to the top job is taking place at a critical time for Amazon, which is facing a growing threat of regulatory action to control its dominance of markets across the world.
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