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

To: Tom D who wrote (23804)	10/29/1998 11:12:00 PM
From: Jan Crawley	Respond to of 164684

This stock is about inspiring enough serious money to back the company while they lose $400 or 500M and try to survive the ongoing war of attrition that is known as ecommerce. Tom, I am not a serious thinker, but my facts are very clear: Amzn, the stock price, has been receiving as much serious backing as possible. Amazon, the company, are not inspiring any serious money to bank-roll their on-going war. Fact 1. The original VCs - KP and Dooer, had, as of Sept 98, cashed out over $400 million of Amzn stocks and has re-capitured all their investments, and are nicely in the black. Will the KP sell more stocks in the next 2 months or re-invest part of the $400M in Amzn? Fact 2. Amzn has not, is not, and will not plan a secondary to attract the serious money. Why?? Fact 3. The only serious financial backing was the $525M senior-discount junk bond with 10% interest, issued 4 months ago. The net proceed from the junk bond issurance was $325M Less the MSDW initiation fee of $18 million. Best wishes, Jan

To: Tom D who wrote (23804)	10/29/1998 11:26:00 PM
From: Philip Logos	Read Replies (2) \| Respond to of 164684

The future is uncertain. For the time being, they are king of the hill, and being valued as such. Tom, It's amazing they're being valued as such by the few who control it. It's the mechanics of the stock float itself, and the brokerage firms who tout it and support it with managed account dollars, that keeps it where it is. It's like a two-party political system. If you get enough ayes to agree, their dollars will mathematically eliminate short-selling positions and all others opposed. They know the company is doomed long term. The numbers surely indicate it. But for the short-run, it's convenient to keep dollars pouring into it, until it's too expensive to do so. Philip