♪.
CONNELL: MORE NOW ON JEFF BEZOS
STEPPING DOWN AS AMAZON CEO.
WE FOUND OUT ABOUT THAT WHEN THE
COMPANY REPORTED EARNINGS AT THE
TOP OF THE HOUR.
ANDY JASSY WHO HEADS UP AWS,
AMAZON WEB SERVICES WILL TAKE
OVER CHIEF EXECUTIVE OFFICER OF
THE ENTIRE COMPANY IN THE
THIRD QUARTER.
BEZOS DID SEND EMAIL OUT TO
EMPLOYEES.
WE HAVE A HOLD OF THAT.
HERE IS PART OF IT.
QUOTING FROM THE LETTER HE SAYS
AS MUCH AS I STILL TAP DANCE
INTO THE OFFICE I’M EXCITED
ABOUT THIS TRANSITION.
MILLIONS OF CUSTOMERS DEPEND ON
US FOR OUR SERVICES.
MORE THAN A MILLION EMPLOYEES
DEPEND ON US FOR THEIR
LIVELIHOODS.
AMAZON COULDN’T BE BETTER
POSITIONED FOR THE FUTURE, SAYS
SAYS BEZOS.
WE’RE FILING ON ALL CYLINDERS AS
THE WORLD NEEDS US TO.
"WALL STREET JOURNAL" DAN
HENINGER, HE HAS SOMETHING IN
COMMON WITH JEFF BEZOS.
HE TAP DANCES INTO THE OFFICE.
JEFF BEZOS IS THE RICHEST HUMAN
BEING ON PLANET EARTH THIS SIDE
OF ELON MUSK WHEN TESLA’S STOCK
IS UP A LOT.
THIS IS A BIG DEAL.
WHAT IS YOUR REACTION?
>> WELL, IT’S A BIG DEAL ON MANY
LEVELS, CONNELL.
FOR STARTERS, IT’S REMARKABLE
THAT JEFF BEZOS IS STEPPING BACK
LIKE THIS AFTER FOUNDING AN
EXTRAORDINARY COMPANY LIKE
AMAZON.
I MEAN THERE ARE SOME STORIES OF
COMPANY FOUNDERS, ENTREPRENEURS,
WHO NEVER STEP BACK, RIGHT?
THEY JUST CANNOT GIVE UP THE
REINS AT ALL.
THEY CARRY IT INTO OLD AGE.
HERE IS JEFF BEZOS AT RELATIVELY
YOUNG AGE STEPPING BACK.
I HAVE TO SAY, ANOTHER THING
ABOUT AMAZON IS THAT YOU KNOW,
I’VE ALWAYS THOUGHT OF IT AS
UNLIKE GOOGLE AND FACEBOOK WHICH
BASICALLY CAPTURED THE SUNLIGHT
OF THE INTERNET.
AMAZON IS A REAL BUSINESS.
THEY DO REAL STUFF.
IT IS EXTRAORDINARY TO WATCH
THIS COMPANY GROW AND PRETTY
MUCH SUCCEED EVERY STEP OF THE
WAY.
THERE HAVE BEEN CONTROVERSIES
BUT THE EXECUTION HAS BEEN
EXTRAORDINARILY GOOD.
I TAKE IT THAT ANDY JASSY CAN
TAKE CREDIT FOR A LOT OF THAT.
IN THAT RESPECT HE IS PROBABLY
HANDING THE COMPANY OVER TO
SOMEONE WHO IS EXTRAORDINARILY
COMPETENT.
I THINK ONE OF THE BIG QUESTIONS
GOING FORWARD WILL BE WHERE
AMAZON’S IDEAS COME FROM.
JEFF BEZOS ISN’T RETIRING TO AN
ISLAND BUT OBVIOUSLY HE HAS BEEN
THE VISIONARY.
HE IS THE ONE WHO COMES UP WITH
THE IDEAS.
AND CONTRIBUTED A LOT MORE THAN
NOTHING TO THE SUCCESS OF THAT
COMPANY.
SO SOMEWHERE ALONG THE LINE,
UNLESS JEFF BEZOS IS INVOLVED,
ON A REGULAR BASIS, YOU KNOW,
MOST CEOs WOULD PREFER THAT
THE FOUNDER NOT DO THAT.
NONETHELESS THEY WILL HAVE TO
FIND SOME WAY TO CAMPUS UP WITH
INSPIRATION, INGENUITY,
CREATIVITY THAT JEFF BEZOS
BROUGHT TO THAT COMPANY FROM THE
TIME HE WAS OPENING IT IN HIS
GARAGE.
CONNELL: YEAH.
BOY, WHAT A RUN.
ONE OF THE MORE REMARKABLE
STORIES IN, IN WORLD BUSINESS
HISTORY REALLY.
JEFF BEZOS BY THE WAY JUST
TURNED 57 YEARS OLD.
HE IS, AS YOU SAY, VERY YOUNG TO
BE STEPPING DOWN AS CEO OF A
COMPANY.
SO WHAT DO YOU THINK?
IT IS SPECULATIVE, SO MANY OTHER
THINGS HE HAS GOING ON.
HE OWNS "THE WASHINGTON POST."
BUT THERE IS BLUE ORIGIN.
THERE IS CHARITABLE VENTURES.
THERE IS A LOT HE CAN DO.
OTHER CONTRIBUTIONS HE CAN MAKE,
WHAT DO YOU THINK IF IT IS NOT
SOLELY ON AMAZON, ONE OF THE
THINGS HE IS TALKING ABOUT,
FOCUSING ON OTHER AREAS, A
SECOND ACT FOR JEFF BEZOS.
WHAT DO YOU THINK?
>> MAKES ME THINK OF BILL GATES.
BILL GATES ALSO STEPPED BACK AT
A RELATIVELY YOUNG AGE, RIGHT?
I THINK MAYBE WHAT WILL BE
INTERESTING TO WATCH JEFF BEZOS
DO IS WHAT NEW IDEAS HE BRINGS
TO THE WORLD OF CHARITABLE
GIVING OR PHILANTHROPY.
BILL GATES DID A LOT OF THAT,
ESPECIALLY IN THE AREA OF WORLD
DISEASES.
EDUCATION AS WELL.
I WOULDN’T MIND AT ALL SEEING
JEFF BEZOS BRINGING SOME OF HIS
MONEY INTO THE WORLD OF
EDUCATION, PUBLIC AND SECONDARY
EDUCATION IN THIS COUNTRY WHICH
OBVIOUSLY NEEDS A LOT OF REFORM.
WE’RE GOING THROUGH A REAL
CRISIS NOW WITH THE PUBLIC
SCHOOLS BEING CLOSED, TEACHERS
GOING ON STRIKE.
SOMEHOW THE BASIC MODEL ISN’T
WORKING.
I DON’T KNOW WHETHER JEFF BEZOS
HAS ANY INTEREST IN THAT, BUT
BOY, BRINGING A CREATIVE MIND TO
BEAR ON SOME OF THE BIG PROBLEMS
WE’VE GOT USING PRIVATE MONEY,
HE COULD MAKE AN EXTRAORDINARILY
CONSTRUCTIVE CONTRIBUTION ALONG
THOSE LINES.
CONNELL: YEAH I THINK HE DOES
HAVE INTEREST.
HE TALKED ABOUT EDUCATION BEFORE
BUT NOW WITH THIS MUCH TIME
MAYBE YOU CAN SCALE THAT UP.
WITH AS MUCH MONEY HE HAS THAT
MIGHT BE THE AREA, YOU’RE RIGHT.