Is Amazon a monopoly? Many people think so, but Ted Bauman says that Amazon is not indeed a monopoly. That does not mean that Ted Bauman does not think there are any problems with Amazon. Indeed, there are quite a few problems. First of all, they have caused a loss of business for many small local shops. Not only that, but Amazon is in the process of collecting a lot of data about their customers. Ted Bauman himself recently wrote an article detailing the dangers of this kind of data collection by big businesses.
On the other hand, Bauman says that there are a number of good things that he can find about Amazon. First of all, they make shopping very easy. Ted Bauman himself goes shopping on Amazon. He started shopping on the site years ago when he was looking for smaller niche products. He has continued to shop on the site ever since. Read more about Ted Bauman at Bloomberg
Bauman admits that Amazon is dominating the internet sales industry. Many other businesses are finding it hard to compete. Nobody is going to argue that Amazon is really making it big in the online sales industry. However, Ted Bauman also says that Amazon is just not on the level of being a monopoly at this point in time.
Bauman has traveled the world and seen a lot of things. He has investigated the financial situation and the markets in many different countries. According to him, calling Amazon a monopoly is going a little bit too far. After all, there are other retailers out there that are making more revenue than Amazon. Amazon does not indeed have a hold on the ecommerce industry or on the retail industry in general. There is Kroger, Walmart, and many other companies.
Ted also says that he does not think Amazon has totally transformed the economy the way that monopolies usually do, either for the better or for the worse. Amazon has certainly changed it, but it has not caused such a massive change as to make it totally different. Get the latest update, follow: https://twitter.com/TedBaumanGuru