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'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.
We lowered prices so significantly over the last 15 months, there have been five significant price reductions,
We have had so many discussions with so many different publishers that it isn't practical to keep it under wraps, ... Too many people know about it.
We've had three big ideas at Amazon that we've stuck with for 18 years, and they're the reason we're successful: Put the customer first. Invent. And be patient.
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're building a unique global platform...In the last 18 months we found that sellers and partners are interested in complementing their online and offline businesses with Amazon's platform,
We did a lot this quarter. For the rest of 1999 we expect to invest more heavily than we have in the past.
We have for five years now declined to predict when Amazon.com might be profitable ... and we are finally answering that question.
We are thrilled to have Joe at Amazon.
We feel strongly that copyright holders should get to make these decisions.
You have to remember that in the Internet sector, the Internet companies' share prices have been volatile not just in the last week, but over the last couple of years. That's likely, I think, to continue.
We were hoping to build a small, profitable company. And of course, what we've done is build a large, unprofitable company.
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 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.