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State of the Art: Why Jeff Bezos Should Push for Nobody to Get as Rich as Jeff Bezos

“We have technology that has allowed us to create vastly more wealth for society,” said Erik Brynjolfsson, director of the M.I.T. Initiative on the Digital Economy. “But there’s no economic law that says that these benefits will be distributed evenly — and it’s worked out that some people have gotten most of the benefits and a lot of other people have been left behind.”But economics isn’t destiny, he said.“Technology has led to some of this concentration, but since it makes the pie bigger, you could make everyone better off simultaneously — you could make the poor better off and the rich better off — and whether we…

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Bits: The Week in Tech: Apple’s Watch Steals the Show

Each week, technology reporters and columnists from The New York Times review the week’s news, offering analysis and maybe a joke or two about the most important developments in the tech industry. Want this newsletter in your inbox? Sign up here.Hello, readers! I’m Farhad Manjoo, your technology columnist — and more important for our purposes today, I’m a guy who has been to every Apple iPhone-unveiling event since the first one, all the way back in 2007. (If I were single, this would make a killer Tinder profile, right?)As you might guess, then, I’m sometimes a little jaded on iPhone day, which took place again this week.…

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Jeff and MacKenzie Bezos Pledge $2 Billion for Homeless and Preschoolers

The Amazon founder and chief executive, Jeff Bezos, and his wife, MacKenzie, pledged $2 billion on Thursday for a new fund to start preschools and help homeless families.The money, put into he what called the Day 1 Fund, is by far the largest philanthropic donation by Mr. Bezos, the world’s richest person. It will support organizations that provide shelter and food for homeless families, and will start a network of nonprofit Montessori-inspired preschools for underserved communities.“If our own great-grandchildren don’t have lives better than ours, something has gone very wrong,” Mr. Bezos wrote on Twitter announcing the fund.As Mr. Bezos’s wealth and influence has grown, he has…

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Amazon’s Antitrust Antagonist Has a Breakthrough Idea

Ms. Khan disagreed. Over 93 heavily footnoted pages, she presented the case that the company should not get a pass on anticompetitive behavior just because it makes customers happy. Once-robust monopoly laws have been marginalized, Ms. Khan wrote, and consequently Amazon is amassing structural power that lets it exert increasing control over many parts of the economy.Amazon has so much data on so many customers, it is so willing to forgo profits, it is so aggressive and has so many advantages from its shipping and warehouse infrastructure that it exerts an influence much broader than its market share. It resembles the all-powerful railroads of the Progressive Era,…

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The Mystery of Amazon HQ2 Has Finalists Seeing Clues Everywhere

Over Labor Day weekend, a club promoter who goes by the name Purple posted a photo on Instagram from the LIV nightclub in Miami. In front of a wall graffitied with names and a single “Life Is Beautiful” sticker, Purple’s arm was casually draped over the shoulders of Jeff Bezos, the Amazon chief executive, whose pants matched the host’s name. “It’s not everyday you get to hang with the richest guy in the world,” Purple wrote on Instagram. “What a pleasure.”But when The Miami Herald covered the celebrity spotting, its cares turned toward the practical: “Could this be good news for Miami’s HQ2 bid?”Friday marks one year…

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Jeff Bezos’ First Major Political Donation Is $10 Million to Elect Veterans

Jeff Bezos, the founder of Amazon and the richest man in the world, has recently faced the ire of elected officials across the political spectrum, President Trump on the right and Senator Bernie Sanders on the left.Now, two months before the midterm elections, Mr. Bezos and his wife, MacKenzie Bezos, are making by far their biggest known campaign contribution to a political group that plays right down the middle.The couple are donating $10 million to the With Honor Fund, a so-called super PAC that supports military veterans running for Congress who vow to take a cross-party approach to governing. The group has endorsed 33 candidates running this…

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Amazon Hits $1,000,000,000,000 in Value, Following Apple

SAN FRANCISCO — When Apple’s market value crossed a trillion dollars last month, the reason was simple: It makes devices that a lot of people are willing to spend a lot of money on.Now Amazon has become the second American company to cross that once-unimaginable line. Its shares rose as high as $2,050.50 on Tuesday morning, pushing it over $1 trillion in value, before immediately falling back and then ending the day at $2,039.51, below the $1 trillion threshold. Amazon’s founder and chief executive, Jeff Bezos, is worth nearly as much as Bill Gates and Warren E. Buffett put together.This time, the explanation is more complicated.Amazon captures…

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Amazon Removes Products Featuring Nazi Symbols

SAN FRANCISCO — Amazon said this week that it would not let third-party retailers sell products that feature Nazi and white nationalist symbolism on its platform, amid pressure from nonprofit groups and lawmakers.In a letter dated Tuesday to Representative Keith Ellison, a Democrat from Minnesota, Amazon said it had removed products that violated its policy against product listings that promote hatred, violence or discrimination.“We have reviewed the products and content referenced in your letter, and removed the listings that were found in violation of our policies and permanently blocked the seller accounts that were in violation of Amazon policy,” Brian Huseman, Amazon’s vice president for public policy,…

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Amazon’s Profit Swells to $1.6 Billion, Lifted by Its Cloud Business

SEATTLE — Jeff Bezos, Amazon’s founder and chief executive, long ago figured out how to keep Amazon’s sales figures shooting skyward. Now he is doing the same with profit.The company, which once seemed to have only a passing interest in turning a profit, said its net income for the first quarter more than doubled. Although Amazon is best known as an internet shopping destination, its cloud computing and advertising businesses were big contributors to the jump in profit.Mr. Bezos singled out the performance of the company’s cloud computing business — known as Amazon Web Services, or A.W.S. — referring in a statement to a “remarkable acceleration” in…

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