MobileRead Forums - View Single Post - Amazon 'Destroyed the Retail Industry Across the US'

Raphi'Elohim · 07-25-2019, 07:47 PM

From slashdot :

U.S. Treasury Secretary Steven Mnuchin said that Amazon "destroyed the retail industry across the United States" and that it's appropriate for the attorney general to investigate the company alongside other tech giants in the sweeping antitrust review that the Justice Department announced yesterday. "There's no question they've limited competition,"

Mnuchin told CNBC's Squawk Box. From the report:

Mnuchin said that "although there's certain benefits" to Amazon's success, the company has "really hurt small businesses" in the process. "I think it's absolutely right that the attorney general is looking into these issues," he said this morning. The Justice Department said yesterday that it would begin a review into whether major online platforms have "reduced competition, stifled innovation, or otherwise harmed consumers." While Amazon was not mentioned by name, the assumption is that the DOJ will be looking at it alongside other tech giants, like Facebook and Google, that also vastly dominate their fields.

Amazon responded to Mnuchin's remarks with a comment saying that its platform helps small businesses and that physical stores still dominate retail sales. "Small and medium-sized businesses are thriving with Amazon," a spokesperson said. They said that Amazon represents "less than 4 percent of U.S. retail," and that 90 percent of retail sales "still occur in brick-and-mortar stores according to the U.S. Census Bureau."

https://news.slashdot.org/story/19/0...retary-mnuchin

Let's see here, Amazon almost put Barnes and & Noble out of business and they may still do so. Amazon does not innovate on it's own volition. For instance, Amazon probably only has the warm orange night time glow and waterproof options because Kobo introduced them first and Kobo is not doing so well compared to Amazon.

Also, Amazon has limited competition as they are probably the reason Sony stopped making eReaders but they still make expensive e-ink tablets. There is little doubt in my mind if Sony was still making eReaders they would be the most superior but a bit more expensive than most eReaders.

Bottom line : I feel morally superior for having the new Barnes & Noble nook glowlight plus 7.8 inch.

P.S. please don't shoot the messenger (me) if you own a Kindle.

07-25-2019, 07:47 PM	#1
Raphi'Elohim Banned Posts: 125 Karma: 124174 Join Date: Jul 2019 Location: Hilbert Space Device: NOOK Glowlight plus 2	Amazon 'Destroyed the Retail Industry Across the US' From slashdot : U.S. Treasury Secretary Steven Mnuchin said that Amazon "destroyed the retail industry across the United States" and that it's appropriate for the attorney general to investigate the company alongside other tech giants in the sweeping antitrust review that the Justice Department announced yesterday. "There's no question they've limited competition," Mnuchin told CNBC's Squawk Box. From the report: Mnuchin said that "although there's certain benefits" to Amazon's success, the company has "really hurt small businesses" in the process. "I think it's absolutely right that the attorney general is looking into these issues," he said this morning. The Justice Department said yesterday that it would begin a review into whether major online platforms have "reduced competition, stifled innovation, or otherwise harmed consumers." While Amazon was not mentioned by name, the assumption is that the DOJ will be looking at it alongside other tech giants, like Facebook and Google, that also vastly dominate their fields. Amazon responded to Mnuchin's remarks with a comment saying that its platform helps small businesses and that physical stores still dominate retail sales. "Small and medium-sized businesses are thriving with Amazon," a spokesperson said. They said that Amazon represents "less than 4 percent of U.S. retail," and that 90 percent of retail sales "still occur in brick-and-mortar stores according to the U.S. Census Bureau." https://news.slashdot.org/story/19/0...retary-mnuchin Let's see here, Amazon almost put Barnes and & Noble out of business and they may still do so. Amazon does not innovate on it's own volition. For instance, Amazon probably only has the warm orange night time glow and waterproof options because Kobo introduced them first and Kobo is not doing so well compared to Amazon. Also, Amazon has limited competition as they are probably the reason Sony stopped making eReaders but they still make expensive e-ink tablets. There is little doubt in my mind if Sony was still making eReaders they would be the most superior but a bit more expensive than most eReaders. Bottom line : I feel morally superior for having the new Barnes & Noble nook glowlight plus 7.8 inch. P.S. please don't shoot the messenger (me) if you own a Kindle. Last edited by Raphi'Elohim; 07-25-2019 at 07:51 PM. Reason: fix grammar