Trump will realize ‘Amazon is good for America,’ venture capitalist says – CNBC
Amazon’s shares have risen nearly 1,400 percent since president Barack Obama took office in 2009, and hit an all-time high right before the election, as online shopping became ubiquitous.
Being both a dominant channel for e-commerce and a pre-eminent cloud services provider leaves Amazon well-positioned for being the stock of the new administration as well, said Ganesan, who has portfolio companies that sell products on Amazon.
While Amazon’s light tax burden has been contested by red and blue states alike, Amazon has long had friends on Pennsylvania Avenue. A former Obama administration staffer has helmed Amazon’s global affairs, and Obama had reportedly considered an Amazon distribution center as the site of a tax reform announcement.
Trump, meanwhile, has been critical of Amazon’s tax policies, He has also towed a hard line against China, where many Amazon sellers manufacture and trade goods.
“Believe me, if I become president, oh do they have problems,” Trump said at a rally in February, though his tax plan actually proposes cutting taxes for large corporations. “They’re going to have such problems.”