satrebil
Platinum Member
- Oct 3, 2018
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Dunno if anyone quoted this already or not, but Peter Schiff said this yesterday:
"Bezos is no fool. He will reduce his headcount, and step up his automation effort to eliminate as many low-skilled jobs from Amazon. Then he will lobby Congress to increase the minimum wage for his competitors that still employ lower-skilled workers. As these competitors will lack the resources to automate, they will be driven out of business, and all their workers will lose their jobs. Less competition will make it easier for Amazon to raise prices."
He's probably spot on. Amazon/Bezos recently freaked out about a head tax implemented in Seattle, which caused them to repeal it.
This is a business move.
"Bezos is no fool. He will reduce his headcount, and step up his automation effort to eliminate as many low-skilled jobs from Amazon. Then he will lobby Congress to increase the minimum wage for his competitors that still employ lower-skilled workers. As these competitors will lack the resources to automate, they will be driven out of business, and all their workers will lose their jobs. Less competition will make it easier for Amazon to raise prices."
He's probably spot on. Amazon/Bezos recently freaked out about a head tax implemented in Seattle, which caused them to repeal it.
This is a business move.