Morning Jolt (Resend): Amazon Makes Mistakes, Too

WITH DOMINIC PINO

June 17 2024

This is Dominic Pino filling in for Jim Geraghty.

On the menu today: Food.

Amazon has transformed the way people shop with its extremely fast delivery service and Amazon Prime subscription. The company has the fifth-largest market cap in the world at nearly $2 trillion. It employs 1.5 million people, second only to Walmart among private corporations, and has annual revenue of about $590 billion, also second to Walmart. Only nine countries' governments have annual revenue greater than Amazon's.

Amazon's Plan to Remake Grocery Stores

Fears that Amazon is too powerful are compounded by the company's continued adeptness at creating new technologies. If it can always stay a step ahead of competitors, its grip on the market for seemingly everything will never go away, Amazon opponents say. The Federal Trade Commission has sued Amazon on antitrust grounds, saying it keeps prices too high to keep out competitors.

This is ...

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