How Amazon Transformed E-Commerce: The Story of a Book Store Rising to the Top

Money | July 5, 2024, 12:33 p.m.

In the past three decades, Amazon has grown from a humble online bookstore in Jeff Bezos' garage to a global e-commerce giant worth $2 trillion. Starting with books, Amazon expanded by acquiring various companies, innovating with products like the Kindle and smart speaker, and focusing on fast shipping and small business partnerships. Despite its success, Amazon faces criticism for its labor practices, with warehouse workers enduring tough conditions and recent unionization efforts. Looking ahead, Amazon's challenges include staying competitive in AI technology, dealing with a federal anti-monopoly lawsuit, and maintaining customer trust in the face of rising prices and competition. As Amazon navigates these challenges, its ability to adapt and innovate will determine its future success.