1. Lots of cracks showing in AWS before he took the big job, lack of focus, bloat of too many services with too few users

2. He then hired Adam to take over AWS which didn’t work out well

3. Good to see he’s cleaning things up, but we’re past the “clean things up” phase for a CEO. He’s been in role for a while now. That should have been the first few years of his tenure.

4. Anthropic was a good investment, but Amazon is just one of many investors. It’s nothing like the partnership that MSFT and OpenAI have, which was further strengthened with today’s announcements there. Amazon has nothing comparable to counter that.