Amazon, Amazon Online Earning
Amazon sells everything in the world:
Amazon.com. It is the name of the company that has conquered the Internet distribution market. The main character who wrote this huge myth is Jeff Bezos, the founder and CEO of Amazon.com. His unique management style, which looks forward to 10 years and bears losses, draws attention from all over the world. ‘Amazon sells everything in the world’ is a book that reveals the history and reality of Bezos and Amazon.
The book begins with a story before Amazon was “conceived.” In the early 1990s, Bezos was working for DE Shaw, a Wall Street investment firm. Bezos was living in a high-end apartment on Wall Street with a high salary. However, Bezos submitted his resignation in 1994, ahead of the time he would receive a huge bonus of the year. It started with the Internet.
Bezos was an early entrepreneur who saw the potential of the Internet. It was an article in an American monthly that sparked Bezos' interest in the Internet. Between January 1993 and January 1994, Internet activity increased about 2,300 times. “It's rare for something to grow so rapidly,” Bezos said. It was so bizarre. So I started thinking about which businesses would be right for this growth environment.”
Bezos decided that books were best for business over the Internet. It is easy to store books online besides that to store offline. said This idea signaled the beginning of Amazon, which would later dominate the global publishing market.
Currently, Amazon is an online distribution company that sells all products, not just books. There is nothing not for sale, including clothing, electronic devices, computer software, music records, and furniture. Like the original title of the book, it has become a true ‘everything store’.
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| Amazon, Amazon online earning |
The book takes an in-depth look at Bezos' management style that has led Amazon to this point. Amazon is famous for looking beyond the decade when investing in a new business. It doesn't even care about the deficit. In 2012, Amazon's operating profit margin was as low as less than 1%. Compared to Samsung Electronics and Apple, which record operating profit margins of 10% and 30%, respectively, this is a pitiful level. Still, Amazon's stock has surged more than 800% in three years, and Wall Street values Amazon's enterprise value highly. This is because investors believe in Bezos' vision for the future, the authors say.
There is also talk of Bezos' unique management philosophy. The book portrays Bezos as a capable but difficult leader to deal with. For Amazon employees, the company is sometimes pictured as a difficult place to work. Amazon employees presenting ideas is one of them. Amazon employees cannot present in PowerPoint. Because Bezos forbids it. Instead, employees present their ideas in six-page prose. This prose should be written in the form of a press article, with new content at the forefront.
The book covers these stories in detail. Before leaving Wall Street, Bezos meticulously wrote down his worries and relationships with people around him. This meticulousness is interpreted as depending on the background of the author. The author, Brad Stone, is an information technology (IT) reporter for BusinessWeek, an American economic media outlet. He also worked for the New York Times, an influential American daily. Stone interviewed 300 people who worked with Bezos to write the book, and he also spoke to Bezos regularly. This means that the coverage of the story was supported by an attempt to understand the whole story before and after. The Financial Times, a British business magazine, and the Washington Post, a leading American magazine, selected this book as the best book of 2013.
However, the book did not receive only favorable reviews. It was published in the United States in October of last year, and a month later, a book review containing bad reviews was posted on Amazon.com. The title of the review was 'I wanted to like this book too', and I gave it only one out of five stars. It was the only star among Amazon.com customer reviews. The review immediately became a hot topic. This is because the reader who wrote the review was named Mackenzie Bezos, Bezos's wife. At the time, Mackenzie Bezos wrote, "Readers should beware," wrote Bezos, "was written on her own conjecture, without evidence or sources to substantiate her feelings and motives for Bezos' actions."
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| Amazon, Amazon online earning |
Amazon's past and Coupang's present are similar:
I started reading Amazon books. From this month, the Amazon BM study planned by Byline Business Network begins, because I do not know anything about it. The first book is Day1. It doesn't mean anything else. Since it was the first Amazon book I read, I chose Day1. This book deals with the Letters to Shareholder from Amazon CEO Jeff Bezos every year since Amazon's IPO in 1997. Jeff Bezos' shareholder letter reflects Amazon's strategy, achievements, and failures for the year. Apparently, there is something special about Jeff Bezos' 'public official'.
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