Amazon put a Black Lives Matter banner on its web store

Source: Bloomberg

Bezos Decries ‘Sickening’ Answer to Black Lives Matter Post

By 

Jeff Bezos said he received “a number of sickening but not surprising” responses after publicly supporting the Black Lives Matter movement.

The Amazon.com Inc. chief executive officer on Sunday posted to Instagram a screenshot of a profane, racist email he said he received from someone threatening to stop shopping with the retailer because of Bezos’s support for Black Lives Matter.

“This sort of hate shouldn’t be allowed to hide in the shadows,” the world’s richest person wrote. “It’s important to make it visible. This is just one example of the problem. And, Dave, you’re the kind of customer I’m happy to lose.”

Bezos joins other tech executives who are speaking out in response to the issues of racism and police brutality laid bare by the killing of George Floyd. Reddit Inc. co-founder Alexis Ohanian resigned from the board of directors and asked that he be replaced by a black candidate. Microsoft Corp. CEO Satya Nadella has used his Twitter feed in recent days to highlight statements from the software maker’s black employees.

Jeff bezos

Social media CEOs, meanwhile, have drawn criticism for how they’ve handled controversial postings on their platforms. Twitter Inc. CEO Jack Dorsey took the unusual step of slapping a rule-violation notice on a tweet by President Donald Trump that the company said glorified violence, prompting ire from Trump supporters. By contrast Facebook Inc. CEO Mark Zuckerberg has continued to give Trump free rein, to the dismay of many of his own employees.

Bezos on Friday posted on Instagram an email exchange with a different customer in which he defended a decision to place a Black Lives Matter banner on Amazon.com touting a $10 million donation Amazon made to a group of racial and social justice organizations.

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  1. Amazon is introducing a new digital credit line for U.S.-based merchants with partner bank Goldman Sachs, CNBC has learned exclusively.

    Small business owners who sell items on the e-commerce giant’s platform will soon be receiving targeted invitations from Goldman’s Marcus brand for credit lines of up to $1 million, according to people with knowledge of the project.

    Potential borrowers will see the offer on Seller Central, the online hub for Amazon merchants and can apply in a simple two-step process, said the people, who spoke on condition of anonymity because they were not authorized to discuss the partnership publicly. The credit lines will come with a fixed annual interest rate of 6.99% to 20.99% and can be drawn and repaid, like a regular credit card.

    The move — the latest high-profile collaboration between the worlds of technology and banking — is the first time Amazon will let a financial institution make underwriting decisions for the hundreds of thousands of sellers on its platform. More than half the goods sold on Amazon are from independent businesses. For the past decade, Amazon has kept a tight rein on its small business lending program, using algorithms and closely guarded sales data to determine who could use a loan.

    https://www.cnbc.com/2020/06/10/amazon-and-goldman-sachs-unveils-small-business-credit-lines-up-to-1-million.html

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