Amazon Just Made a Healthy Purchase and How it Affects You
Amazon has made major headlines today with it's announcement of purchasing Whole Foods for $13.7 billion in cash. This is a big deal for several reasons, but primarily, who has $13.7 billion in cash??? Can I get a loan bro?
Whole Foods is a grocery store that would compete locally here with Wegmans. We do not have one in the area, and Wegmans annually ranks just ahead of Whole Foods as the top grocery store in the country. So for comparison purposes, imagine if Amazon bought Wegmans.
That would be a shock, but what will really change? The stores are not going away, you might just be able to have your groceries sent to you via drone in the future. You have to give Amazon credit, they are innovative if nothing else.
Long story short, if you held stock in Amazon (congrats you were already rich and now you just got richer), and if you invested in Whole Foods, well your patience has paid off! For the rest of us, we will have to wait and see what this means. These kind of things take a while to go through. I mean think about how long it would take to count $13.7 billion in cash?? How many briefcases is that?? Is it all in 20's??
The future is an interesting place, and with what Amazon is doing it is getting a whole lot crazier. I am looking forward to the day I can just email my list in and a robot shows up at my door, puts everything away, and makes me a sandwich. Let's get on it Amazon! Also, if you need help counting that cash let me know. My fee is only 1%.