2. Jeff Bezos’ phone fiasco
The founder, chief executive officer, and president of Amazon, Jeff Bezos is practically sitting on a $130.8 billion fortune. And even if we can say that he has the Midas touch, Bezos actually made some bold business mistakes at some point in his life.
At the top of the list is the ill-fated Fire Phone. In his attempt to compete with Samsung and Apple, the world’s largest online retailer launched the device in 2014, but the phone’s excessive price tag, awkward Operating System and limited ecosystem caused its downfall. Needless to say, the phone was taken off the market and Amazon had to write off $170 million in the process.
