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Send in the Drones! Amazon's Jeff Bezos Defends Capitalism on 60 Minutes

BEGIN TRANSCRIPT

RUSH: Jeff Bezos.  He's on 60 Minutes with Charlie Rose on Sunday night.  Let's go to the sound bites.  This is pretty good.  Charlie Rose says, "Every time a new Amazon center goes up, Jeff, publishers and traditional retailers shudder.  They get scared, Jeff.  A lot of small book

publishers and other smaller companies worry that the power of Amazon gives them no chance."  You're coming in here and you're selling things at practically no profit margin, Jeff.  You're practically giving things away at cost.  How in the world can these people keep up with you, Jeff?  It just isn't fair.  It's not right.

BEZOS:  You gotta earn your keep in this world.  When you invent something new, if customers come to the party, it's disruptive to the old way.

ROSE:  Yeah, but there are areas where your power is so great and your margin, you're prepared to make it so thin, that you can drive people out of business, and you have that kind of strength, and people worry, is Amazon ruthless in their purest of market share?

BEZOS:  The Internet is disrupting every media industry, Charlie.  You know, people can complain about that, but complaining is not a strategy.  Amazon is not happening to book selling.  The future is happening to book selling.

But Bezos, he lives in Seattle, he's bald, he looks good as a lib.  He fits the bill.  Soap opera again.  But the truth is, this guy's ruthless.  This guy doesn't care if every competitor goes out of business.  That, in fact, is the name of the game -- and then watch what happens to his margins when he ends up the only place that you can go to get whatever it is you want, and then those margins are gonna skyrocket. This is what his investors know. 

But when he says, "You gotta earn your keep in this world," oh, man! At Think Progress, they ought to be trying to excommunicate this guy.  At the Center for American Progress, at the White House, every left-wing liberal establishment, those words, "You gotta earn your keep in this world," and "When you invent something new, customers come to the party, it's gonna disrupt the old way"?

"Yeah, yeah, but you run mom-and-pops out of business, Jeff." 

"Not my problem.  They can't compete?  Too bad."

And then they weren't through, Charlie and Jeff Bezos. Just one more sound bite here, folks.

BEZOS:  Let me show you something.

ROSE:  Oh, man!  Oh, my GOD!

BEZOS:  This -- this is... These are octacopters.

ROSE:  Yeah?

BEZOS:  These are, uh, effectively drones, but there's no reason that they can't be used as delivery vehicles.

ROSE: (chortling)

BEZOS: I know this looks like science fiction.  It's not.

ROSE:  Wow!

BEZOS:  These are electric motors.  So this is all electric.  It's very green.  It's better than driving trucks around.

RUSH:  Ah, he's back now in favor with the left. After just illustrating he's ruthless and bloodthirsty and careless, has no concern about his competitors, now he's worried the environment.  Yes! So he's back in good graces.  He's got these mini-drones.  Have you seen one, a picture?  Well, they're about five or six inches square.  They got little platforms on 'em, and grips on the bottom where a package of certain weight could be held and it's gonna fly to your house. 

If you live within 10 miles of a distribution center for Amazon, it'll fly to your house.  But, you know, where's it gonna land?  Is it gonna land on your roof, gonna land on your sidewalk, gonna land on your driveway, backyard?  How many of 'em literally are gonna get shot down?  Do you understand, there will be people who have no idea... No matter what, no matter how widely broadcast the news of these things is, there are going to be people have no clue, and they're gonna look up and they're gonna see swarms of these things, and it's gonna be hilarious.

One thing I think we all have to keep in mind here: These drones may actually never be used because of this thing called lawyers. 

We'll just have to wait and see.

END TRANSCRIPT

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