Jeff Bezos, the CEO of Amazon, recommends, against all odds, not to consume excessively this Black Friday. Here are the reasons.
Much has been said about what is happening in the industry tech. Over the last few weeks, we have been able to see how platforms like Twitter or Meta have begun to destroy jobs at large. In fact, these can be counted in the thousands, so the growth expectations of these companies could have been alerted to what is to come. Amazon, led by Jeff Bezos, has been the last to plan to lay off up to 10,000 employeesa particularly important staff cut.
And you may wonder, what does this have to do with the popular ‘Black Friday’? What’s more, why say goodbye now considering that we are just around the corner from the moment in which consumerism emerges everywhere? Apparently, the magnate of the parcel and other services firm wants you to take advantage of this moment to do not buy unnecessary things. According to his vision, we are on the brink of a recession and, therefore, it is essential to reserve money for possible emergencies.
Let’s see, in more detail, what have been the statements made by Jeff Bezos a few days after the flurry of purchases that are expected to take place, why he may be right taking into account the macroeconomic environment that surrounds us and, of course, to what extent we are on the verge of a serious economic crisis. Contrary to previous occasions, inflation is the special guest at the party.
Jeff Bezos recommends not buying in this period of great consumerism
‘Black Friday’ and, to a lesser extent, ‘Cyber Monday’, are 2 key dates for doing Christmas shopping or simply buying what we need. However, there is always the occasional whim that we add to the basket, right? Jeff Bezos, who claims donate up to 124,000 million dollars to NGOs to combat climate change It does not recommend you buy more than necessary this year. All this taking into account that it is the quarter of the year in which there is more billing within Amazon. Why? We are facing an imminent recession and he recommends having sufficient financial resources that can serve as containment.
Jeff Bezos is constantly fighting for the position of richest person in the world with Elon Musk. Image: Business Insider
This was stated in an interview with the media CNN. In particular, it has wanted to focus on those high-value products, which represent a greater part of the purchasing power of families. In fact, he claims that it is possible that we are already in the middle of a recession and that the only thing left is to wait for the official data to be published. Be that as it may, the statements can be used to understand to what extent the economy is at a worrying point.
What I can tell you is that the economy is not looking very good right now. Take some risk off the table. If you are thinking of buying a big screen television, it is better to delay that purchase. Keep that cash and see what happens. Jeff Bezos, CEO of Amazon
Stagflation is perhaps the term most feared by an economist. It is the conjunction of a period of high rates of inflation and rising unemployment. The last time such a phenomenon occurred on a large scale was in the oil crisis of the 1970s. However, it is still early to see what will happen next. Of course, what seems clear is that the increases in interest rates in the market are not slowing down, at least for the moment, the escalation of prices sufficiently. What will happen in the coming weeks with consumption? Seems like an interesting question to ask.