Jeff Bezos Shares Old Article Predicting Amazon Would Fail: "Don't Let Them Tell You Who You Are"

• American entrepreneur Jeff Bezos shared a newspaper article from 1999 that predicted Amazon would fail
• The article said his idea of selling other manufactures’ goods to consumers was silly and would not make money
• Bezos is now laughing all the way to the bank, with a whopping and impressive net worth of $191,7 billion

Jeff Bezos, the world's second-richest man, has shared an old article that predicted Amazon's failure.

Via a social media post on Sunday, October 10, Bezos shared the 1999 article by a magazine spelling doom for his business.

The article referred to Bezos's idea to sell other manufacturers’ goods to consumers as silly.

"The idea that Amazon CEO Jeff Bezos has pioneered a new business paradigm is silly. He's just another middle man, and the stock market is beginning to catch on to the fact.

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The big winners will be people who sell their own products directly to consumers,” the article read in part.

Listen, but follow your plan

In the caption, Bezos encouraged his followers to listen and be open to other people’s opinions but avoid being swayed by them.

Bezos pointed out that Amazon proved the naysayers wrong and is one of the world’s most profitable companies.

“Listen and be open, but don’t let anybody tell you who you are. This was just one of the many stories telling us all the ways we were going to fail.

Today, Amazon is one of the world’s most successful companies and has revolutionized two entirely different industries,” he wrote.

Bezos has the last laugh as proceeds from Amazon account for most of his impressive net worth pegged at around KSh 21 trillion by Forbes.

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Reactions

Social media users reacted to the inspirational post by writing:

@thisissketch:

“Well that didn’t age well.”

@wealth:

“When you focus on impact you always win!”

@doctordibbs:

“Don’t let nobody tell you who you are.”

@zaharadeen_1:

“Inspiration from one of the best. To those attempting to be great, be unyielding.”

@bitcoin_chief

“Who is now laughing last?”

Reversing ageing is the new money maker

In September, Briefly News reported that Bezos invested in a company researching how to reverse biological ageing.

The start-up named Altos Labs is seeking biological reprogramming of cells to make people younger.

Bezos, who has a 10% stake in Amazon, also owns Blue Origin, a space exploration company.

Source: Briefly News