Amazon Pre-Schooling?: Bezo's New "Philanthropy" in Education

In recent news of September 28th, Amazon Owner Jeff Bezos has come to announce via instagram post that his "Bezo's Day Academy" is opening its first location in Des Moisnes, Washington on October 19th. It will open its doors to serve primarily three to five year olds as its main age group in consideration. This seems to be a real substantial observation of philanthropy in action; but this could be seen as another ploy to further acquire monetary success.

Amazon was made in 1994 in a garage by Bezos as book rival to "Barnes & Noble" with a significant loan and delivery service responding to requests online. By 1999, the member count of Amazon grew to 180,000 and Bezos & Co had got into other ventures with selling. Then by 2005, Bezos had taken the internet by storm and been dubbed the internet king of commerce. However, too much of a good thing can make sweet victories last sour; right along with too much power makes things go bad.

In an CNBC article from 2019, it some on how Jeff Bezos made $11 Billion in profit before taxes, paid no federal taxes, and then later on received $129 million in a tax rebate from the Federal Government. This raises questions because of how easy it is for Jeff to make over a billion dollars and now being the richest man in the world. This all lead to many years of revenue loss and the critical Trump Tax cut that happened last year.

After doing the research on the federal taxes paid in Amazon; it was critical to know their process of being so profitable. Which was their system of paying employees through Stock Based Compensation which gives people in a company stocks and use their prime value of each stock invested through those people as reports to get further increases. So it is this information that gives people a bad taste after seeing those good and sweet gestures like one in building preschools. This is because it could also been seen as profit based incentive and not something for goodwill. You get tax credits for opening daycares of up to $150,000 as well. When it comes to daycare and preschool; the only difference is they have more intimate and time based occurrences from one another.

Overall, this could be seen as Bezo's wanting to be philanthropic and make things work for the next generation. But these pledges and actions are hollow when his workers are paid minimum wage statewide. So even if his workers are basically doing slave labor with no garunateed stock security after job loss; how can a person truly be investing in the future when his own present investment morally and fiscally struggle everyday.

Sources: CNBC, Bez's Day 1 Fund, Investopedia, Glassdoor, Chron