>I still anticipate Amazon will fail big time but am a minority here.
Glenn, I disagree. If you assume for the moment that the reason a person starts a company is to make themselves rich, then Amazon has succeeded beyond all dreams.
Bezos and all the insiders have sold nearly a billion dollars worth of AMZN stock to the public. While the company itself has never produced a dime in profits, it has fufilled the ultimate capitalist goal of making the founders rich.
It used to be that running a company well, and sharing in the profits, was the way to get rich. Not in the new era.
Does anyone wonder why companies are so shoddily run these days? What incentive does an executive have to do an efficient job if they are given the reward 6 months after the task begins.
It's like handing a medical student their diploma at the end of their first semester. With a guarantee that no matter how badly they do for the rest of the 6 years, they are assured of keeping that diploma. Do you think they will stay up all night studying for exams? If so, are you insane?
Today's markets are the biggest obscenity to blight the world of business since time has begun. Eventually, it will cause the total collapse of our economic system. Until then, lets all cover our ears, close our eyes, hold our nose, and jump head first into the corruption. There is so much money to be had, picking the pockets of the idiotic masses of "investors" that the only TRUE crime would be missing the once in a lifetime opportunity to transfer their wealth from them to us. |
