That is hard to believe with so many brick and mortars that have shut down, usually you can find what you need on Amazon.  Their delivery is quick and returns are easy.  The only way the business would die is if there is a huge return to brick and mortar stores again or some entity has more goods and better service.  Amazon is pretty hard to beat.

When you become wealthy enough you can structure your finances in such a way that you have very little to no "Income".

Hell, even when you ain't wealthy enough... Money in the bank is money not working. The more you invest the more plates you can get up and spinning. One plate may go wobbly and come crashing down, shattered. That ain't income, that's write-off. Unless it's the only plate you have... Then it's tragedy, and hard times...

But who knows how many of the plates keep spinning long enough to win the prize? Maybe will, maybe won't... But I can tell you what - Uncle Sam never sweeps up all the shattered plates. Uncle Sam just takes his nick, whether you win or not.

TheStreet by Jena Warburton Apr 28, 2024

The founder and former leader had fears about the tech giant, which have recently resurfaced.

Jeff Bezos may no longer be the CEO of Amazon  (AMZN) , but his legacy surely lives on.

Many of his opinions — whether they are business-related or commentary about life and space travel — are listened to closely by both his enthusiasts and detractors.

And Bezos isn't exactly lounging around despite no longer being at the helm of Amazon.

Bezos famously founded Amazon with his then-wife MacKenzie Scott in the garage of a house he'd rented in suburban Seattle.

Jeff Bezos foresees Amazon's downfall

While Bezos largely doesn't comment publicly on Amazon's business and operations since his departure in 2021, his last letter to shareholders as he was leaving has been re-circulating online in April.

The memo discusses the dangers of staying stagnant in an increasingly competitive world — and the need to innovate just to stay alive.

“Staving off death is a thing that you have to work at," Bezos said, quoting biologist Richard Dawkins in his book The Blind Watchmaker.

"How much work does it take to maintain your distinctiveness?" Bezos questioned, then offered a cautionary tale about companies who have made the mistake of getting too "normal" for their own good.

"The world will always try to make Amazon more typical – to bring us into equilibrium with our environment. It will take continuous effort, but we can and must be better than that," he wrote, adding, "To all of you: be kind, be original, create more than you consume, and never, never, never let the universe smooth you into your surroundings. It remains Day 1."

In 2018, Bezos shared a similar sentiment, discussing the “inevitable” death of Amazon, saying during an all-hands that “Amazon will go bankrupt” someday.

More: https://www.thestreet.com/retail/jeff-bezos-predicts-amazons-inevitable-death

What is the precise definition of "income"?

I mostly agree with the federal government's definition as of today.  A salary or contract payment is final, barring lawsuits.  Until capital assets are sold, you can leverage them for spending money, but their value could disappear at any time.  And if unrealized gains are taxed, what would the government do in the middle of market crash?  The only reasonable method is a carryback loss, but then the treasury is short on revenues and cutting checks to billionaires at the same time.