Mega global companies taking a brutal beating: Is the GCC feeling it?
Every once in a while, we hear of a giant company facing financial challenges, and once in a lifetime, one of these could fold.
But when three monster influencers on our current or future lives face a litany of attacks, lose 10s of billions each, and are on the verge of collapse, it’s time to take notice.
In 2-3 weeks, Tesla, Facebook, and now Amazon is struggling to stay afloat, and some have surprisingly claimed they may even go under.
These statements were plastered all over social media networks first after Facebook’s nightmarish Cambridge Analytica scandal (remember #delete Facebook?), then Tesla’s surprise fatal crash a week after another deadly autonomous car accident (not Tesla).
Now Amazon is bidding goodbye?
Yes, Amazon, the company that owns Souq, and Amazon Cloud in the GCC.
What about it?
Well, Trump is going after it, and he’s been at it for a few years, rekindling the long-lost hate for the company when he saw it timely to bash the “Fake News” again, as Amazon’s owner Jeff Bezos owns The Washington Post.
This might have a huge impact on the GCC
As you know, Amazon bought Souq.com.
Back in December, Souq chief executive Ronaldo Mouchawar said to the media:
“By becoming part of the Amazon family, we’ll be able to vastly expand our delivery capabilities and customer selection much faster, as well as continue Amazon’s great track record of empowering sellers.”
Is souq.com in trouble now? Will its main competitor Noon.com gain the upper hand?
Not only that, but Amazon’s AWS (Amazon Web Services) service that’s projected to be implemented in Bahrain in 2019 might be in trouble, and this includes the job market openings it could have offered.
“The kind of roles AWS is hiring for include: Data Center Engineers, Support Engineers, Engineering Operations Managers, Security Specialists and many more,” the source added.
Let’s take a look back at Facebook.
Will Facebook go bankrupt?
Facebook with their lenient privacy settings have lost the trust of millions, and billions of dollars in market cap, $80 billion, to be exact.
The issue with Facebook is they keep putting themselves in people’s crosshairs, first announcing it wasn’t their fault, then saying it was their fault and that they are sorry. Now they promised to fix the issue, but that could take years according to Variety Facebook CEO Mark Zuckerberg will take his time to fix the issue, no not a month, not 3, not even 6, but a few years.
So, what does this mean?
Well the FTC has already started investigating the website, and their breach of contract fine is $40,000.
As we previously stated the number of breached data is about 50 million, bringing the fine that Facebook will have to pay $2 trillion in fines.
Is the GCC even concerned? Or even included?
Well, the only one who can answer this question is you, the reader, how much have you used facebook?
We all have the app on our phones, similar to car keys in our pockets.
It’s everywhere, and your info is being already being stolen, bought, and sold by different people and entities.
So, what about Tesla?
Distrust in Autonomous
On an early Friday morning, a fatal crash involving a Model S happened in California killing the driver and well, splitting the car in half.
In a recent blog post, Tesla stated the information logs they received from the Model X, and further proving that the car was fully functioning, while also blaming the driver, and the state of California.
But, the US National Transportation Safety Board (NTSB) is “unhappy” that Tesla made the crash logs public, reported by BBC.
What did Elon Musk do after the crash?
As an April Fool’s joke, he posted that Tesla had gone bankrupt on Twitter, showing how insouciant he was about the current situation.
Tesla still claims that autonomous vehicles are still the best in the world, claiming that their first iteration of auto-pilot was claimed by the US to be 40% safer than non-autonomous cars.