Jeff Bezos is really something else -
In January 2002, Amazon reported its first profitable quarter, posting net income of $5 million, a meager but symbolic penny per share. Marketing costs were down, international revenues from the UK and Germany were up,
In January 2002, Amazon reported its first profitable quarter, posting net income of $5 million, a meager but symbolic penny per share. Marketing costs were down, international revenues from the UK and Germany were up,
sales from third-party sellers on the vaunted Amazon platform made up 15% of the company's orders. The exclamation point on the accomplishment was that Amazon had turned a profit by both controversial pro forma accounting standards and conventional methods.
Amazon had finally shown the world that it wasn't just another doomed dot-com. The stock price immediately jumped 25% in after-hours trading, clawing its way out of the single digits.
Kathy Savitt, a new Amazon publicist, told Bezos she wanted to frame some of the positive news articles and hang them on the office walls. He told her he would rather frame the negative stories like Barron's infamous Amazon.bomb cover.
When people wrote or said positive things about Amazon, he wanted employees to remember Barron's article and remain scared.
Book Src - The Everything Store: Jeff Bezos and the Age of Amazon
Book Src - The Everything Store: Jeff Bezos and the Age of Amazon
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