iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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John Malone Calls Amazon a ‘Death Star’ for ‘Every Industry on the Planet’

The Liberty Media boss had some candid words this morning on CNBC, telling David Faber that the cable industry missed its chance to compete against Netflix and that the only company capable of doing so was Amazon, which is likened to a Death Star, sucking the life out of every damned industry it touches.

Liberty Media Chairman John Malone believes Amazon will dominate the future and is the only company that has a chance to beat Netflix.

Netflix CEO Reed Hastings “has been successful in throwing hail Mary passes and then growing into them. And I think he is going to continue doing that. He’s got a great service. He’s disintermediating the studio industry by going directly to the talent,” Malone said in an exclusive interview with CNBC’s David Faber Thursday at the Liberty Media annual investor meeting.

“The only outfit right now that has a chance of overtaking them would be Amazon.”

The internet “makes scale even more important in the media business, where scale always was important. It’s all about scale,” he said. Netflix was “the first wave. And I think Jeff [Bezos] is gonna be the most disruptive. As [his] Death Star moves into striking range of every industry on the planet.”

“If you’re in the B2C business, if you’re selling anything to any consumer anywhere on the planet, you gotta believe that Amazon is gonna have a look at that opportunity to commoditize you to use scale to serve the public,” he said. Bezos is “reducing cost to the consumer and providing great convenience … You just got to take your hat off and envy what he has built.”

Yesterday, it was being circulated that Amazon was fixing to fire thousands of Whole Foods employees. I imagine they might want to swap out human cashiers for robots, the Bezos way. While Amazon offers incredible convenience and affordability to consumers, there is a cost to pay — a long tailed one in the form of a FUCKING DEATH STAR.

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10 comments

  1. matt_bear

    Anti-trust should have kicked in loooong ago. Amazon is going to make Standard Oil look like a side of the road fruit stand.

    ZIRP and tax code designed for brick and mortar are the reasons why Amazon is what it is today.

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    • Dr. Fly

      It’s true and ridiculous. We have so many monopolies in tech and the govt doesn’t seem to give a shit. They have way more power than any industry has ever had on Americans.

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      • sarcrilege

        Gubimint? Amazon is a Pentagon/CIA/NSA op. Just like Joobook and Joogle. If not for the deep state propping up these spy operations, all three companies would be much smaller and honest in protecting privacy. Twitter soon too.

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    • sarcrilege

      Wrong!! Pentagon/CIA/NSA/Mossad are the reasons why Amazon is what it is today.

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  2. lazylambal

    Lets hope nobody shoots amazon in the hole.

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  3. dmfracer

    Lol. Any government threat of “breaking up” a monopoly is code for shakedown – pay me.

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  4. tonka

    It’s amazing that a few short years ago we just assumed all tech and internet business would eventually be supplanted by the next big thing, and that cycle would happen in perpetuity. Now we live in a world where the FAANG’s have a seemingly insurmountable moat around them.

    I have to believe the truth is somewhere in the middle, but if you gave me 10 billion with the task of taking down a FAANG, I wouldn’t know where to start.

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  5. matt_bear

    Amazon is the easiest to take down. You just break them up via spin-off.

    Apple and Facebook is tougher to do as there is legit competition in their markets.

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