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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Victor Lazlo who wrote (111904)	11/17/2000 9:17:19 AM
From: 10K a day	Read Replies (1) \| Respond to of 164684

Yeah...that is an unbelievable story. Unbelievable.....Easy come easy go.

To: Victor Lazlo who wrote (111904)	11/17/2000 9:50:51 AM
From: Eric Wells	Read Replies (5) \| Respond to of 164684

Jeff Bezos on CNBC this morning. And the company's latest marketing expenditure? Catalogs. 10 million of them. And so, now we have a company that started as completely virtual, promoting itself as being able to realize tremendous efficiencies in retail by operating on the web and avoiding the costs of traditional retail - and now this company is nothing more than a catalog company - with one of the world's most expensive distribution networks. Imagine if you will, if 3 years ago Jeff Bezos had come to the capital markets with a catalog company - if he had told Wall Street, "Amazon is a catalog company - and we need about $2 billion to build a bunch of warehouses - oh, and by the way, we also have a web site." This morning's Bezos interview was actually the first I've seen in which Bezos has not laughed. In fact, he looked genuinely nervous. When asked about how Amazon is becoming more and more brick-and-mortar-like every day, he claimed that he was just following the strategy that they laid out from the very beginning. When asked about Amazon's failed role as an incubator, he claimed that they had never set out to be an incubator. When asked about the difficulty of retaining employees when stock options make up a large portion of the compensation package, he said that they had re-issued stock options - to all employees that had stock options (too bad Amazon isn't re-issuing stock to outside investors). I suppose the only encouraging thing about this morning's interview was that Bezos did not laugh. Maybe a sign that he is starting to adopt a serious tone when discussing important business issues with the press. Of course one would have to be pretty brash to laugh on television when your company is bleeding red, your employees have options with negative value and most of your stockholders are seriously questioning why they own your stock. Does anyone like Bezos anymore? He is Man of the Year, after all. The CNBC guys grilled Bezos - didn't cut him any slack. -Eric