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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote ()	3/26/2000 6:40:00 AM
From: kendall harmon	Read Replies (2) of 120523

AMAZON.COM: Get Big Fast By Robert Spector, book review from todays the times (London) <<Everyone blames the current dotcom frenzy on Amazon, the online book and music retailer. After all, it loses money like it was going out of fashion and yet is one of the most valuable companies in the world. But this is unfair, if only because Amazon does a huge amount of business and has millions of satisfied customers. If it stopped advertising today it would probably be profitable - which is more than can be said for most dotcoms. The most significant thing about Amazon is that it is the first Web-based company to build a global brand in the Disney league. At a focus-group meeting in London recently, a participant declared that while he bought books from Amazon, he would never buy other goods on the Internet. Given the business community's infatuation with the Net, it's inevitable that there would be a spate of hagiographical or inspirational books about Amazon and its extraordinary founder genius, Jeff Bezos. Spector's book is a blend of the two. At times it reads like a capitalist version of Lives of the Saints. The Blessed Jeff's upward trajectory is tracked from his teenage years, when he wanted to build a space station "because he believed the future of the human race was not on Earth". But at the end of each chapter there is an inspirational "takeaway". "Bezos was precocious as an adolescent," reads one. "As a youth league leader on the football field, he could remember his assignment and everybody else's. When his mother wouldn't buy him an Infinity Cube, he made his own." Interwoven with this guff is an interesting account of how Bezos created his extraordinary company and built it into an institution which will probably still be standing long after the next stock market crash has wiped out its emulators. The thing about Amazon is that it is a customer service organisation first and an Internet company second. Bezos understood before anyone else on the Net that a customer who e-mails a query to a company on a Friday night and receives a helpful response from a human being at 11.30pm never forgets the experience. As a result, he may one day be able to afford that space station. JOHN NAUGHTON >> the-times.co.uk

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