"I think if you look at Amazon, although there are certain benefits to it, it destroyed the retail industry across the United States so there's no question they've limited competition," Mnuchin said to CNBC's Squawk Box on
Wednesday."I think its very good that the attorney general is going to look into this. I think its an important issue and I look forward to him reporting back to the president and hearing his recommendations," said Mnuchin.
What happened to free market theory
Nonsense. It’s called competition. May the best companies win
Actually Mnuchin and tariffs are destroying America.
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Sounds like he’s talking about Walmart
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And the automotive companies destroyed the buggy industry ... Bastards!
So fuck capitalism?
If the US kills Amazon, Alibaba will fill the void.
The development of the industrial revolution couldn’t be stopped. Neither can the information / internet revolution be stopped. Not saying he wants to though. Does he want to break Amazon up like PacBell?
Ford & GM have destroyed the Conestoga wagon industry. We need to start an inquiry
People don’t enjoy the retail experience. Whose fault is that?
Listening to free market capitalists complain that Amazon is ruthlessly fucking efficient at capitalism is truly rich.
Punish the successful.... great plan.
Agreed
What about Walmart
I thought Walmart was destroying the retail industry for the past 20 years
One of the dumbest things I've heard lately.
I'll confess: when Amazon started (selling books), I thought 'What a dumb biz plan.. IF I wanted a book, I'd just buy at Barnes & Noble down the street and have it NOW''
Man I still enjoy going to the Mall for somethings. Sadly 1 of them is closed already. Other not looking so full anymore
That’s just absurd. That’s like saying Ford and GM destroyed the horse and buggy industry.
Sorry. Amazon was just a better idea. America was created on better ideas.
pArTY oF FReE eNteRPrise
If Amazon is being unfair, Amazon needs to be reigned in. If Amazon is just smarter than others, that isn't a crime.
By making availability and affordability for consumers much better?
His face should be on a Talking Heads album
And Coal got destroyed by Natural Gas and Renewables FFS
That's true, retail is dead
Next up, that dastardly wheel.
Amazon is doing the same thing to retail that Walmart did to small businesses.
Why does the US hate free markets? Let innovation happen and go report on the Kardashians or something
Cold day in hell when I agree with Mnuchin but can't disagree on this one. When you can sell items AT A LOSS because you have the spigot of capital to drown the competition then SUCCESS IS GUARANTEED...
Why does the so called ”land of the free” want to combat the free market?
Walmart destroyed the small town retailer. What’s the difference.
Everyone knew online shopping was inevitable, few changed their business models to truly adapt. You can’t fault a company for filling a void
This is a hit job. You have all the freedom you need in your wallet.
I'm sorry. I can't not see it.
Adapt to change. Very simple. Amazon is here to stay. They make life simpler.
And sooner than we all think - Amazon will fall victim to the same malaise that has plagued “conventional” retailers for 2 decades. INNOVATE OR DIE. ADAPT, IMPROVISE, OVERCOME. But please stop whining....
Simply NOT true - the retailers that have “fallen” or are “failing” now have no one but themselves to blame - As the zeitgeist of American retailing evolved THEY failed to innovate and invest in the requisite technology that would have made them relevant to consumers.
Jealous people ...
This is clearly just the president (small p) attacking someone he doesn't like or sees as a threat. Don't listen to these idiots, America.
Not hard. Consumers started to use the internet to click click BUY.
The times they are a changing!
...and with Amazon I can buy clothing without being racially profiled
If Amazon has destroyed the retail industry explain Walmart, Target, Home Depot, Lowe’s, LuLuLemon, and the massive by local movement in this country. The list goes on. Their is a difference between destroying and reconfiguring to increase efficiency.
I use Amazon & glad too....
They made it easier and more comfortable did not destroy it.
please look at the future---'we' are just not going to be wandering around in a vehicle & parking it in various places to buy a lot of crap we don't need& eating 'fast' food(?) (how can it be fast if we have to get there?)-bring 'it' to my door--i socialize HERE--?
You better not FUCKING TOUCH Amazon 😭
It’s called Capitalism
Suddenly when mall VACANCY RATES hit 60% and investment portfolios at investment BANKS go dry they decide to wake up from their sleep.
Nooooooo.....Amazon was smart enough to see the secular change in how we shop . My hats off to em
This administration seems more like the Clinton era ever damn day. They don’t believe in FREE MARKET CAPITALISM at all.
Leave Capitalism alone, I didn’t choose you as a fiduciary!!!
Damn Amazon for being the only one who destroyed the retail industry. Never mind the GREED in COMMERICAL REAL ESTATE BROKERS/LANDLORDS for jacking up the price of property or teasing consumers with limited occupancy contracts. Why should go after Amazon, Ebay, Etsy, like idiots!
So big banks have driven small banks out, big box stores have driven small stores out....let’s just investigate everyone! Grandstanding moron!
No, actually the retail industry destroyed the retail industry. AMZN just seized the opportunity.
Amazon has changed the retail landscape, but offers a platform for millions of businesses to sell their products.
AMAZON Prime Baby AMAZON PRIME!
And they should be rewarded for their innovative approach. Disruption of a system or marketplace is always tough on the middleman. Change your business model or get out of the way.
Big government in action. Republicans only claim to be for small government, but it’s a ruse.
So has private equity buying up brands raiding assets and closing shop! Can you investigate that too ?
The Federal and State tax codes and depolicing destroyed the retail industry. Amazon just filled a void.
This is true but also I feel like Trump doesn’t like Bezos.
No, the US really shouldn’t. It might be crappy that Amazon is killing the retail industry, but you can’t act like this isn’t just pure dominance in an evolving world. 🤷🏻♂️🤷🏻♂️
A total joke. “Capitalism is the only system for America,” unless the person who’s playing the game the best owns a newspaper that sometimes criticizes the wannabe dictator in the White House.
adapt to the changes, simple connection.
Destroyed or improved? You know you are a success in American business when the swamp sends its alligators for you.
I wonder who told him to say that. Could it have been the overgrown jealous orange manchild? I'm gonna go with yes. Hes been looking for a way to get at amazon Mnuchin should be in jail for contempt not making demands.
Changed retail... I’m sure u meant that
Yes most definitely look very closely, try to understand and then copy
Amazon has shifted the retail industry. It has absolutely not destroyed the retail industry. Y'all can't put the genie back in the bottle. Americans like shopping online and having their items show up on their doorstep a couple days later.
Uh Oh ! Jeff Bezos is quaking in his shoes😜
Amazon has saved Americans time and money. Other companies refused to keep up.
Good god