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

To: H James Morris who wrote (12889)	8/8/1998 1:55:00 PM
From: Oeconomicus	Read Replies (3) \| Respond to of 164684

Jim, Bezos - well, AMZN HAS run out of money, AOL HASN"T bought him out, and his business plan HAS failed. He pledged the company to creditors that have a good shot, IMO, of owning the company one day, to raise badly needed cash to keep the company alive until they figure out a business plan that can actually make money. AOL might buy them one day though - when the stock finally crashes, the bulls get done blaming shorts for it, and start blaming bad, self serving management who should have sold a long time ago (not that this would be right either, but that's the way it goes). Then and only then could the company be sold. That said, your "float controllers" must be loving this. In the face of acquisitions that are nothing more than an admission that the "plan" isn't working and another attempt to find that magic bullet - the business plan that MIGHT work; and in the face of accelerating losses - and accelerating revisions to projected losses - the small investor bulls continue to focus on an ever narrowing list of rationalizations for paying these prices for the stock. Now, we are down to "what is going to be the catalyst?", "think of it as the department-store anchor tenant in the biggest mall on Earth", and "they were wrong at $85, at $100, at $115, and at $140, so they will be wrong at $200 and $300 too" (Tom K., I have news for you, those who said the buyers at $140 were the last fools are looking more right than wrong, doncha think?). No one even tries any more to show how AMZN will EVER become profitable, much less how those hoped for eventual profits can even remotely justify the current valuation. Instead, they fall for lines out of the company like the following from the article Mark linked: "We would rather have people speculate than give away our plans to competitors," a company spokesman said. Face it people, they can't explain their strategy because it changes too fast while they flail around for one that works. The "secrecy" has the added benefit of perpetuating the myth that this is some visionary company with plans and potential so amazing that us mere mortals couldn't even begin to understand. Perfect for a mania, no one can prove their plan to be a failure because their plan is a myth. Regards, Bob