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Tech industry will still grow post-pandemic
Sector has flourished, and experts say the biggest and perhaps only threat to it is from government
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David Streitfeld
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In April last year, Mr Jeff Bezos, Amazon's chief executive and the world's richest man, announced he was focusing on people rather than profits. Amazon would spend about US$4 billion (S$5.5 billion) in the next few months "providing for customers and protecting employees", he said, wiping out the profit the retailer would have made without the coronavirus.
It was a typically bold Amazon announcement, a shrewd public relations move to sacrifice financial gain at a moment of misery and fear. He said this was "the hardest time we've ever faced" and suggested the new approach would extend indefinitely. "If you're a share owner in Amazon," he advised, "you may want to take a seat."
