The Wall Street Journal has a story about how Amazon is finding that achieving its next big hit is an elusive goal: “The tech giant has invested billions of dollars into an array of endeavors across several industries – and stoked Wall Street’s interest along the way. Over the years, when news broke that Amazon was entering a new arena, its stock price would rise and shares of potential competitors would drop, a sign that investors believed Amazon would reshape another corner of the business world.”
But so far, finding a fourth business “pillar” to add to its trio of successful businesses has been easier said than done.
“The first three pillars – each of them massive operations with tens of billions of dollars in annual revenue – are its online retail marketplace, its Amazon Prime membership program and its cloud-computing unit, Amazon Web Services. The company’s core online shopping business, Prime and AWS account for almost 90% of the company’s sales … But nearly all its big bets in recent years- including forays into healthcare, in-person shopping, entertainment and hardware – so far haven’t turned into thriving, profitable new businesses.”
CEO Andy Jassy has underlined the importance: With a fourth pillar, he’s said,“we’re a completely different company.”
You can read the entire story here.
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