“My view here is that we’re buying market position – not technology,” Bezos said in an email released by Congressional investigators looking at market power in big tech. An Amazon executive performing due diligence raised concerns about the risks of leaving Ring to operate largely as a standalone entity under Amazon ownership. “We know that they have limited to no activity around compliance and CSR validation,” Stites wrote, referring to Ring. “I would be shocked if they didn’t need major work in this area to meet our expectations,” Stites wrote. In a reply a couple of hours later, Amazon’s founder was definitive: “I’d buy it right now,” Bezos wrote.

Source: The Star July 30, 2020 05:48 UTC