Inside Amazon 4/14/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 14 April 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Amazon CEO Andy Jassy says workers may be “better off” not joining a union. In an extended interview at Amazon’s Seattle campus, Jassy spoke with Andrew Ross Sorkin to break down his first annual letter to shareholders. Jassy explains how the company quickly grew its fulfillment center capacity amid a rapid pandemic rise in e-commerce sales and he reacts to unionization efforts inside Amazon warehouses. The Amazon chief also discusses the federal minimum wage, Amazon’s 20-for-1 stock split, Elon Musk’s Twitter bid, crypto, and much more. Andrew Ross Sorkin also tours a fulfillment center with Amazon’s Alicia Boler Davis about the up-to-the minute technology completing millions of e-commerce orders.

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C.N.C. producer Katie Kramer today on Squawk Pod.
0:08.0	We're going inside Amazon with the company's new CEO Andy Jassie.
0:13.0	With the war in Ukraine and then all the inflationary pieces that happened thereafter,
0:18.0	at a certain point you can't keep absorbing all those costs and run a business as economic.
0:22.0	Inflation, supply chain, entertainment, grocery, space, robots.
0:28.0	So right now we're also on a robotic floor.
0:30.8	Amazon CEO on unionized workers and collaborating with the White House.
0:35.0	Everyone's entitled to their own opinion and you know we have a lot of things that we I think have supported the administration on and agree with them on.
0:46.0	We won't agree on everything though.
0:48.0	Plus his take on big fishes in the tech world, Elon Musk and his old boss.
0:52.8	The letter is almost Bezosian, if that could be a word.
0:56.5	He is Bezosian.
0:58.3	It's Thursday, April 14, 2022.
1:00.8	Squakpad begins right now.
1:03.6	Stand Becky by in three, two, one, cure please.
1:07.8	Good morning.
1:08.6	Welcome to Squack Box here on CMBC.
1:10.6	We are live from the Nesdac Market site in Times Square.
1:13.0	I'm Becky Quick along with Joe Curnan and Andrew Ross
1:16.0	Sorkin, who is live from Amazon's headquarters in Seattle.
1:19.0	Good morning, Andrew.
	...

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