Speed Reads

trump on the mind

America's top businesspeople are more concerned about Amazon than Trump

Despite the fact that many business leaders are concerned about President Trump, executives on the whole are more worried about Amazon than the White House, Bloomberg reports:

Looking at the last 90 days of earnings calls and other corporate events such as investor days, a trend emerges. Amazon comes up a lot. It was mentioned a staggering 635 times over that time frame, while President Trump came up just 162 times and wages were discussed 111, according to data compiled by Bloomberg. It's become even more pronounced over the past 30 days, with Amazon garnering 165 mentions compared with 32 for Trump and 22 for wages. [Bloomberg]

In one example cited by Bloomberg, McDonald's chief executive officer Steve Easterbrook cited Amazon's purchase of Whole Foods in a second-quarter earnings call to discuss "how disruptive the business world is and how quickly it moves."

Last week, Amazon CEO Jeff Bezos briefly overcame Microsoft founder Bill Gates as the richest man in the world.