Ever since it became fashionable to trash Groupon (and it has become VERY fashionable), the response from the company's supporters has been that it's "the next Amazon."
Amazon was subjected to the same knee-jerk skepticism and hate for much of the late 1990s, Groupon supporters point out.
Its stock started falling after that.So, how does Amazon get away with it? How can it forgo profits and yet still have a strong stock?Speaking at Business Insider's IGNITION conference, Amazon founder and CEO Jeff Bezos used a Warren Buffett story to explain how he gets away with it.Paraphrasing Buffett, Bezos said you could hold a rock concert. Or you could hold a ballet concert.
"That’s stupid —you’re building a lifestyle business" spat the investor across the table, flashing me a death glare. It was 2011 and I was at a roundtable event at Grow Conference, an annual gathering of investors, entrepreneurs, and wantrepreneurs alike.
One of the most profound changes in the investment landscape over the past 15 years has been the loss of a once-vibrant IPO market.But knowing how it will end is different than knowing when it will end, and no one knows the answer to that.In the meantime — before it ends — fortunes and careers will be made.
Jeff Bezos believes that Amazon Web Services, the company's cloud which hosts applications, could become its biggest business. Today at the reInvent conference , AWS leader Andy Jassy said that Bezos and the "rest of the leadership team" believe "it is very possible that AWS could be the biggest business at Amazon," TechCrunch reports .
"He was wearing this shirt that said 'Amazon' on it. My wife is Brazilian, so she said, 'Let's go talk to him,'" Menuez said to Business Insider.Documentary photographer Doug Menuez has spent time with some of the most notable figures in Silicon Valley. But it was during a 1994 trip to Aspen, Colorado, when he met a young Jeff Bezos, who was looking for funding for his brand-new company.
Amazon just published its annual post-Christmas press release . These are always packed with interesting nuggets. Here are a few things that popped out: Those were some of the highlights. If you want to pick through it yourself, here's the entire release:Disclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
Amazon and Indian e-commerce company Flipkart have an interesting history. Flipkart's founders both worked at Amazon before ditching in 2007 to start their own new company with a very similar business model. The startup took off and it's now India's largest online marketplace in terms of sales . Amazon, meanwhile, didn't enter India until 2012 when it acquired price-comparison site Junglee.
In 2004, Amazon's entire e-commerce business took in about $7 billion in revenue, about one-tenth the amount it takes in today.(You'll see often see the abbreviation IaaS, or infrastructure-as-a-service. Think of IaaS as bare-bones services required to run applications.
Amazon shares have been on a massive tear. The stock has rallied 33% since its huge earnings beat January 29, according to Bespoke Investment Group . And what's more, the recent rally puts Amazon shares on the edge of a "golden cross.
Well, this could get messy. The GNOME project is a well-known free and open-source desktop environment for Linux distros. Gnome is also the name of Groupon's new proprietary point-of-sale operating system.
obile is overtaking the desktop, social is beating search, and messaging apps are challenging email. What’s next? And what can you do to stay ahead?Digital is transforming media like a tidal wave. First the internet and now mobile are reshaping media consumption habits in real time.
In December 15 years ago the dotcom crash was a few weeks away. Veterans of that fiasco may notice some familiar warning signs this festive season. Bankers and lawyers are being priced out of office space in downtown San Francisco; all of the space in eight tower blocks being built has been taken by technology firms.
explosive detection dog teams to help in the investigation.Police evacuated Amazon employees from one of its Seattle buildings after a staff member found a threatening note in the bathroom, according to an official statement from the Seattle police department .
Gurley also said the thing Kalanick is best at — and something that makes him like Bezos — is recruiting talent.serves as the engineering manager for the "Mobile Core Experience," according to his LinkedIn page. Uber also hiredBill Gurley, an early investor in Uber and a general partner at VC firm Benchmark Capital , says Uber's CEO Travis Kalanick is most similar to Amazon CEO Jeff Bezos.
Cloud computing, where companies rent computers hosted elsewhere, is the biggest change to enterprise tech since the PC. And the company that more or less invented the concept, Amazon, is still far and away the dominant leader of a market that generated $16 billion for its biggest players , says market research firm Synergy Research Group.
Amazon says it has boosted efficiency - and given workers' legs a break - by deploying more than 15,000 wheeled robots to crisscross the floors of its biggest warehouses and deliver stacks of products to employees. Produced by Devan JosephDisclosure: Jeff Bezos is an investor in Business Insider through his personal investment company Bezos Expeditions.
Not too long ago, when most people heard the word “drones,” they thought of unmanned military aircraft engaged in highly controversial clandestine operations. But when Jeff Bezos announced that Amazon was testing the idea of delivering packages via drones, he made drones with popular commercial application suddenly seem like a viable proposition.
It’s incredibly hard. Experiments are, by their very nature, prone to failure. A few big successes compensate for dozens and dozens of things that didn’t work. Bold bets — Amazon Web Services, Kindle, Amazon Prime, our third-party seller business — all of those things are examples of bold bets that did work, and they pay for a lot of experiments.