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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.02+2.4%2:42 PM EST
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To: Glenn D. Rudolph who wrote (61313)6/9/1999 12:27:00 PM
From: Tom D  Read Replies (1) of 164684
 
Glenn, that is ridiculous.

<<I do not like Bezos because I will always believe that the $25 million in stock he sold was not proper based on running a money losing firm.>>

You are judging Bezos and AMZN by impossible standards.

Bezos has sold about 0.3% of his AMZN stock, and you judge this as improper? Because AMZN is not one of the 2% of internet companies that are profitable today?

If they raised prices and changed their business model to achieve a modicum of profitability in 1999 you would probably criticize them for being short-sighted and only concerned with the next quarterly earnings.

I have a close friend who is very bright, dedicated, and creative. He has worked 90 hours a week for the last 8 months and been paid nothing. He is about to file for 2 patents, has written a business plan and is raising VC funding. He gambles most of his life savings so that he can have some meaningful piece of the company, and stresses himself and family to superhuman levels.

And if his company should flourish, and he creates a company with a multibillion dollar market cap, God help him if he dares to sell a fraction of a percentage of his stock before the business is profitable. Because that would be "improper".

I wonder if you understand the risks, the stresses, the toil and the life he pours into the company? You would judge such a person so harshly (in my opinion).

AMZN is a novel business model. Profits are years away. So what? That has never been a secret.

Tom D
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