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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.10

-1.4%

Dec 4 3:59 PM EST

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To: Bill Harmond who wrote (118515)	2/25/2001 11:10:19 AM
From: Glenn D. Rudolph	Read Replies (2) of 164684

I think Amazon will be profitable and carry a much higher market cap. I don't know where you got "extremely" from. Bill, I got it from you in 1998 and 1999. You told me about how retailers never really generated free cash. You told me Amazon would become a cash cow. You told me how Amazon has a negative operating cycle and how terrific that was fundamentally. You told me how more efficient the business model is. You told me you expected Amazon to have net operating profits of 10% on very large sales volume. Ten percent net operating profits on huge sales volume would be extremely profitable. You know I also say it how I believe it to be and I stick by what I said corrrect or incorrect. Are you saying you never stated or believed the above? Glenn

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