Amazon is about to multiply their robot army times 10, CNN reported.There is nothing wrong with automation per se, but a lot more automation looks like a sound alternative for businesses, the higher the minimum wage.
The online retailing giant announced plans to increase their robot workforce to 10,000 by the end of this year. Currently, Amazon employs 1,000 of the wondrous warehouse machines.
The announcement, made by CEO Jeff Bezos in a shareholders meeting this morning, spurred the question of the fate for the actual human beings who package and ship our ear buds and iPhone cases.
This is a very cool video:
You gotta wonder if Amazon is going to weather a tech bubble burst.
ReplyDeleteTheir business model is still suspect to me. Amazon could simply be surviving on the basis of money printing driven stock market mania. It's P/E ratio makes no sense, it can't post routine profit, works off small margins and carries huge debt.
What's is going to do when the funding dries up with a bubble bust, interest rates on its debt jump and it doesn't have the margins/cash flow to sustain operations?(not even considering its shrinking ability of its customer base to buy with inflation)
This. This plus +1,000.
DeleteI love Amazon. I think Amazon will survive the "great shakeout" and radically change consumer behavior.
The current system is dying, FAST.
LOOK at the article "Retail Death Rattle" and how it will change our current system.
Damn iPad. I can't even put the link into the reply post.
DeleteJust google "retail death rattle" and it will be the first google match.
The "Big Boys" and TPTB are pushing everything. They can see the sea-change, the massive disruption on the horizon.
I love my iPad. I hate how it limits certain actions (like posting and editing ECONOMICPOLICYJOURNAL.COM posts) and other minor BS.
Deletety Rick
DeleteNick- I'm sending the link to Robert now. It is a powerful and concise dissection of why the retail sector is in dire straits. I hope he will link to it.
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