Amazon’s New CEO

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4.7 • 1.7K Ratings

🗓️ 3 February 2021

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Amazon’s 4^th-quarter revenue of $125 billion takes a back seat to the news that founder Jeff Bezos will step down as CEO. AWS founder (and longtime Amazon employee) Andy Jassy will become Amazon’s CEO later this year. Shares of Alphabet pop 7% as 4^th-quarter results are highlighted by Google’s core ad business and revenue growth from YouTube. Andy Cross analyzes those stories, as well as the latest quarterly results from Chipotle.

Transcript

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0:00.0	It's Wednesday, February 3rd.
0:04.3	Welcome to Marketfoolery.
0:05.7	I'm Chris Hill with me today.
0:07.6	It's the Chief Investment Officer.
0:08.9	It's Andy Cross.
0:09.7	Good to see you, my friend.
0:10.7	Hey, Chris, good to see you too.
0:11.9	Thanks for having me on.
0:13.0	What a day.
0:14.0	What a day.
0:14.6	We're going to get to Chipotle's earnings, Alphabet's earnings.
0:18.1	We're going to get to Amazon's earnings.
0:20.6	But all of those stories take a back seat to the news
0:23.3	that Amazon founder, Jeff Bezos, is stepping down later
0:26.4	this year as CEO.
0:27.6	He's going to remain executive chairman of the board.
0:32.3	Moving into the corner office is Andy Jassy,
0:35.7	who's currently the head of Amazon Web Services.
0:38.3	He's been at Amazon since 1997.
0:43.2	And Andy Cross, I was thinking about David Gardner
0:47.5	this morning, not just because he's
0:50.4	held the Amazon longer than anyone I know.
	...

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