End of an Era

Motley Fool Hidden Gems Investing

The Motley Fool

Investing, Business

4.3 • 3.1K Ratings

🗓️ 5 February 2021

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jeff Bezos announces he’s stepping down as CEO, with Andy Jassy (the head of AWS) named to take over. Amazon also reports a $125 billion quarter. Activision Blizzard, Alphabet, PayPal, and Pinterest rise on earnings. Chipotle and Unity Software fall on earnings. And Uber surges after it announces plans to buy alcohol-delivery company Drizly. Motley Fool analysts Ron Gross and Jason Moser discuss those stories and share two stocks on their radar: Scotts Miracle-Gro and Synaptics. Plus, Chad Millman, Chief Content Officer at The Action Network, talks about the big business of Super Bowl betting. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Everybody needs money. That's why they call it money.
0:07.0	From full global headquarters, this is Motley Fool Money.
0:19.0	It's the Motley Fool Money Radio Show. I'm Chris Hill joining me this week.
0:22.0	Senior Endless Jason Moser and Ron Gross Good to see you.
0:25.0	It's always gentleman. Hey, Chris.
0:27.0	We've got the latest earnings from Wall Street. We'll talk sports gaming and Super Bowl prop bets with our guest Chad Millman.
0:34.0	And as always, we've got a couple of stocks on our radar.
0:37.0	But we begin with big news from the C-suite.
0:40.0	On Tuesday afternoon, Amazon founder Jeff Bezos announced he will be stepping down as CEO later this year.
0:46.0	Bezos will stay on his chairman of the board and taking his place as CEO will be the head of Amazon Web Services Andy Jassy.
0:55.0	Ron, let me start with you. CEO transitions can be rocky, particularly in the case of a founder-led company.
1:02.0	That said, Andy Jassy's been at Amazon since 1997. This really seems like the right person for the job.
1:11.0	Yeah, two high-level thoughts I have. First, I'm not surprised that Bezos is moving on to the executive chairman.
1:17.0	It was bound to happen. He wants to focus things on things like Blue Origin, Day One Fund, the Bezos Earth Fund.
1:24.0	He's got other things he wants to do. I think at the point, maybe to point out that this continues the trend of CEOs moving on to an executive chairman role rather than just a chairman role.
1:35.0	And what that means is he's going to also be an employee, which also signals to investors that he will still be involved in some capacity on a day-to-day basis.
1:44.0	Now, is that going to actually happen? I don't know. Is this a move just to placate investors as it was done with Bob Iger, for example?
1:52.0	It remains to be seen, but I think the executive chairman is a signal to folks like, don't worry.
1:59.0	He's not abandoning the ship here. He's going to still be highly involved, even more so than a regular chairman of the board.
2:05.0	As far as Jassy goes, I think Jason probably knows both him and the cloud business better than me.
2:10.0	But he seems like a total solid choice. As you said, been with Amazon since 1997, and he built the entire cloud business.
2:17.0	My guess is this is a signal that cloud will be doubling down on the cloud, which should be a surprise to no one.
	...

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