A cautionary tale of Amazon being Amazon...

[MJ DeMarco]

When Amazon comes knocking at your door wanting to invest in your company it's time to celebrate right?

One would think...

However here is what one author says is the Amazon way of business, conducted via their Alexa Fund...

1) Claim an investment interest in a new innovative tech company...
2) Get access to proprietary information, sales figures, customer data via the due diligence process...
3) Invest a nominal amount in the company to continue access, get members on boards
4) Use that continued drip of proprietary info to create your own product and upstart
5) Ghost the company you just ripped-off, and then pay-em off when threatened with a lawsuit.

Amazon is not your friend and it never was.

Wolf in sheep's clothing?

No, a wolf dressed as a wolf.

Entrepreneurs seeking millions from Amazon’s Alexa Fund face a stark reality

“Amazon can destroy your business overnight if they want to do,” a VC warns of startups sharing secrets with the tech giant.

fortune.com

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Andy Black]

When Amazon comes knocking at your door wanting to invest in your company it's time to celebrate right?

One would think...

However here is what one author says is the Amazon way of business, conducted via their Alexa Fund...

1) Claim an investment interest in a new innovative tech company...
2) Get access to proprietary information, sales figures, customer data via the due diligence process...
3) Invest a nominal amount in the company to continue access, get members on boards
4) Use that continued drip of proprietary info to create your own product and upstart
5) Ghost the company you just ripped-off, and then pay-em off when threatened with a lawsuit.

Amazon is not your friend and it never was.

Wolf in sheep's clothing?

No, a wolf dressed as a wolf.

Entrepreneurs seeking millions from Amazon’s Alexa Fund face a stark reality

“Amazon can destroy your business overnight if they want to do,” a VC warns of startups sharing secrets with the tech giant.

fortune.com

Despicable. That's the first word that springs to mind.

 

[mikecarlooch]

When Amazon comes knocking at your door wanting to invest in your company it's time to celebrate right?

One would think...

However here is what one author says is the Amazon way of business, conducted via their Alexa Fund...

1) Claim an investment interest in a new innovative tech company...
2) Get access to proprietary information, sales figures, customer data via the due diligence process...
3) Invest a nominal amount in the company to continue access, get members on boards
4) Use that continued drip of proprietary info to create your own product and upstart
5) Ghost the company you just ripped-off, and then pay-em off when threatened with a lawsuit.

Amazon is not your friend and it never was.

Wolf in sheep's clothing?

No, a wolf dressed as a wolf.

Entrepreneurs seeking millions from Amazon’s Alexa Fund face a stark reality

“Amazon can destroy your business overnight if they want to do,” a VC warns of startups sharing secrets with the tech giant.

fortune.com

Bezos is basically Rockefeller 2.0

 

[socaldude]

Gee I’m shocked, how could they. Just another day in modern corporatism where it’s “clever” to be a back stabbing POS.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[AlFarquhar]

"Amazon.com Inc has been repeatedly accused of knocking off products it sells on its website and of exploiting its vast trove of internal data to promote its own merchandise at the expense of other sellers. The company has denied the accusations."

Amazon spots your hot-selling product on their platform, crafts an Amazon Basic version, then out-values you with their vast business experience.

 

[NervesOfSteel]

When Amazon comes knocking at your door wanting to invest in your company it's time to celebrate right?

One would think...

However here is what one author says is the Amazon way of business, conducted via their Alexa Fund...

1) Claim an investment interest in a new innovative tech company...
2) Get access to proprietary information, sales figures, customer data via the due diligence process...
3) Invest a nominal amount in the company to continue access, get members on boards
4) Use that continued drip of proprietary info to create your own product and upstart
5) Ghost the company you just ripped-off, and then pay-em off when threatened with a lawsuit.

Amazon is not your friend and it never was.

Wolf in sheep's clothing?

No, a wolf dressed as a wolf.

Entrepreneurs seeking millions from Amazon’s Alexa Fund face a stark reality

“Amazon can destroy your business overnight if they want to do,” a VC warns of startups sharing secrets with the tech giant.

fortune.com

This is old news. Amazon has its secondary brand under which Amazon introduces every product in every niche that surpasses a threshold sales on the Amazon marketplace. They openly promote their brand and people tend to find trust in Amazon's secondary brand due to Amazon's dominance!

This makes Jeff Bezos extremely smart and has set an example for every SAAS model.

Of the gods we believe, and of men we know, that by a necessary law of their nature they rule wherever they can. - Thucydides.

 

[MJ DeMarco]

This is old news. Amazon has its secondary brand under which Amazon introduces every product in every niche that surpasses a threshold sales on the Amazon marketplace.

No, it's not the same thing; Amazon Basics and legally getting access to every detail of my company (under the guise of acquisition talks) for the purpose of theft are two different things. But thanks for reiterating what I already knew.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[NervesOfSteel]

No, it's not the same thing; Amazon Basics and legally getting access to every detail of my company (under the guise of acquisition talks) for the purpose of theft are two different things. But thanks for reiterating what I already knew.

They were already using the data available on their server. Probably they upped their game by finding ways to penetrate deeper!

I just wanted to signify that Amazon was always like this!

 

[MJ DeMarco]

They were already using the data available on their server.

Yes, THEIR DATA.

Probably they upped their game by finding ways to penetrate deeper!

And then using deception to access MY DATA.

Theft is not "upping their game."

A metaphor is inviting a network technician into my house to fix my internet, but then he installs a packet monitor on my network to grab my banking passwords to rob me blind.

 

[Jon822]

You gotta hand it to them for being clever. Absolutely disgusting practice though.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

Google, Amazon, Facebook, with evil corporations like this, who needs the devil?

Amazon went undercover to gather rival intel for nearly a decade

The Wall Street Journal reported the tale of alleged espionage, saying that in 2015, Amazon created a secret operation called Project Curiosity.

www.morningbrew.com

 

[socaldude]

Google, Amazon, Facebook, with evil corporations like this, who needs the devil?

Doesn't Amazon provide cloud computing services for some of the alphabet intel agencies? Doesn't Bezos own the Washington Post?

You really have to ask yourself why they share this info as a news article on WSJ which also works with the alphabet agencies?