How Amazon Turned A Profit
from the changing-with-the-times dept
The most amazing thing, to me, about Jeff Bezos was that he never (publicly, at least) took all the post-boom Wall Street naysayers to task for completely changing their minds in 2000 and 2001. For years, Wall Street was telling Bezos to grow faster and faster and not to worry about profits – and he did so. Then, suddenly, as the dot com bubble collapsed, they started yelling at him “but where are your profits?” even though they were the same ones who were telling him to forget about profits the month before. To his credit, Bezos (calmly) appears to have turned the big ship Amazon around, and is now meeting the profitability standard that Wall Street now values. While there are a ton of stories talking about Amazon’s earnings announcement (yes, they were profitable for the year last year), the Seattle Post-Intelligencer has a much more interesting article talking about how Amazon has managed to change over the years to make all of this possible.