Jeff Bezos shares old article predicting Amazon’s failure, Elon Musk digs sly

Amazon founder Jeff Bezos on Monday shared an old article published in American magazine ‘Barron’ on Twitter, which predicted the company’s failure. Published on May 31, 1999, the lead article titled “amazon.bomb” dismissed Bezos as “just another middleman” and predicted that Amazon’s stock price would crash. “It’s foolish as Amazon CEO Jeff Bezos pioneers a new business paradigm,” the article read, adding that “firms that sell their products directly” will emerge as the real winners. Years later, it seems that the article is well out of date as Bezos is worth billions and is among the richest people in the world.

Sharing the article, Bezos wrote, “Listen and be open, but don’t let anyone tell you who you are. This was one of many stories telling us how we were going to fail. Today Amazon is one of the most successful companies in the world and has revolutionized two completely different industries.”