How technology hurts the entertainment industry just like Amazon hurts the retail industry.
August 1, 2023
Over the last three decades, Hollywood and many that rely on the entertainment industry have embraced ordering goods over Amazon.com. Recap: Amazon is a technology company that often cuts costs by replacing humans with code and robots and bypasses local red tape like, um, taxes and labor rules. Hollywood writers, producers, and ticket goers embraced a technology company that made their lives easier but often at the cost of others (aka retail workers).
This weekend’s WSJ shares that retail labor costs continue to rise and will likely contribute to more inflation. Stores either have to cut staff or raise prices—and higher prices result in lower revenue creating a downward cycle. Large players, like Amazon, have more robots and access to capital and may be better insulated from these rising costs. Yet, even Amazon had had to make some cuts, including its recent pause on completing its HQ2 campus in Virginia and its ...
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For the last 10 years, Bridge has been building software to support indie, brick-and-mortar stores. We watched in 2018 as 230 city leaders competed to give the world’s richest man money to bring his tech company to their city. After awarding an HQ to NYC, Amazon tried to bully NYC. When Amazon wouldn’t get its way, it broke off the deal. We see in today’s news more evidence of the same bullying behavior. We’re happy to see that the tide has turned and ...
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This week, Amazon launched its online pharmacy targeting the 3.8 billion prescriptions filled in the U.S. each year. Shares of major pharmacy chains dropped about 10% on the news. Amazon honed this weapon in its Seattle lab and is eagerly unleashing it on retail chains and mom-and-pop pharmacies.
Something struck me while reading this news: Does Amazon remind you of Covid-19? The similarities:
Amazons kills many businesses in industries it touches. Pharmacies are now worried
Do businesses like Amazon that short-change our community affect our ability to respond to a crisis?
In this pandemic, Bridge thanks first responders and the many people that help our communities work together. When I think of communities during Covid-19, Amazon comes to mind. I do think there is value in looking back at the last 24 months leading up to today and asking: did Amazon slow down our community's ability to respond?
Amazon historically pays less in corporate taxes than other ...
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