Sunday, May 25, 2008

Origin Of Companies - Amazon

When you are in doubt and you dunno how to decide, then use "Regret Minimization Framework".
How does it work? think that you are 80. now ask yourself, if you , at 80 would regret not having chosen to undertake a venture? if the answer is yes , then minimize the regret and go ahead. this was exactly how JeFf bezos decided to start Amazon.com..
Named after the largest river(not longest), it was previously called Cadabra.com but it was soon dropped cos it sounded close to cadaver(meaning corpse). A company folklore says that the founder(jeff) wrote the business plan while he and his wife drove from Fort Worth, Texas to Bellevue, Washington, but this is largely denied by early employees
The first book Amazon.com sold was Douglas Hofstadter's Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought

The Business plan funda
Amazon's initial business plan was unusual: the company did not expect a profit for four to five years; the strategy was effective. Amazon grew steadily in the late 1990s while other Internet companies grew blindingly fast. Amazon's "slow" growth provoked stockholder complaints: that the company was not reaching profitability fast enough. When the dot-com bubble burst, and many e-companies went out of business, Amazon persevered, and, finally, turned its first profit in the fourth quarter of 2002: U.S. $5 million, just 1ยข a share, on revenues of more than U.S. $1 billion, but the profit was symbolically important.

The amazon umbrella.
lots of companies come under the amazon umbrella, namely,
IMDb

PlanetAll

Alexa Internet

mobipocket.com,
junglee,
joyo.com
and few other companies

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