Jeff Bezos
Jeff Bezos
Jeffrey Preston "Jeff" Bezosis an American technology entrepreneur and investor. He has played a role in the growth of e-commerce as the founder and CEO of Amazon.com, an online merchant of books and later of a wide variety of products and services, most recently video streaming. Amazon.com became the largest retailer on the World Wide Web and a model for Internet sales...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth12 January 1964
CityAlbuquerque, NM
CountryUnited States of America
We try to be a pure investment and a long-term decision making company. No company cares more about profitability than Amazon.com. But I also want to make the most of our opportunity and we would hate to be short-sighted about that,
We are very pleased with our acceleration in new customer acquisition. It took us 27 months to serve our first million customers, and less than six months to serve our second million.
We are very grateful to our customers for choosing Amazon.com as their online music store so quickly. We work hard to earn the confidence of our customers.
We did a lot this quarter. For the rest of 1999 we expect to invest more heavily than we have in the past.
We're taking no chances in marketing this holiday season,
very happy as an independent company and very focused on continuing to be an independent company.
We've never tested and we never will test prices based on customer demographics, ... What we did was a random price test, and even that was a mistake because it created uncertainty for customers rather than simplifying their lives.
There are many types of investors, ... There are as many different types of investors as there are investments. Many of these investors are very long-term oriented, many are very short-term oriented and they vary along other dimensions, too.
We continued to improve our customer experience during the quarter with the opening of our music store, our easier-to-navigate store layout, and our expansion into the local U.K. and German book markets. These initiatives will continue to require aggressive investment and entail significant execution challenges.
We have for five years now declined to predict when Amazon.com might be profitable ... and we are finally answering that question.
One of the things that is most important for a company is to be very clear about their strategy, so investors get to self-select as to whether or not that's the right strategy for them. I think we've done a very good job about being clear that we're a long-term focused company,
What I can tell you is in the first few weeks of this quarter...we are continuing to see good books unit growth,
When there's uncertainty in the economy, people get very rational about their spending.
E-mail has some magical ability to turn off the politeness gene in a human being.