Jeff Bezos on Taking the Long View

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.3 • 3.1K Ratings

🗓️ 21 January 2020

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

“One of the time-honored traditions of investors is to play the role of skeptic.” Even in October 2000, when his company’s stock had fallen 50% in less than a year, Amazon founder Jeff Bezos was able to see profitability in the days ahead. Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0	With a Motley Full Money extra, I'm Chris Hill.
0:10.8	A market cap of more than $900 billion today means that Amazon is not just an e-commerce
0:17.2	giant.
0:18.3	The company's growth in services like cloud computing, fulfillment, and even entertainment
0:23.6	have led some to question whether Amazon should be broken up.
0:27.4	That wasn't always the case.
0:29.2	The Motley Full's co-founder David Gardner talked with Amazon founder and CEO Jeff Bezos
0:34.4	back in October of 2000.
0:36.6	When the main questions facing the business were not about its dominance, Amazon was a pioneer
0:42.0	in e-commerce, sure, but 20 years ago the main question was, is this company ever going
0:47.9	to make any money?
0:49.7	Is profitability an if or a when for Amazon?
0:53.1	It's a win and I think that the best evidence for that is the fact that this quarter Q3, we
0:59.9	had a $25 million operating profit on our US books music and video segment.
1:04.4	It's very clear, I think, to most observers at this point that if we hadn't invested significantly
1:12.1	in international opportunities and new product categories, which are getting a lot of traction,
1:17.4	then the company would be profitable today.
1:19.8	It would also, in my opinion, have a much lower market value because of the decreased
1:25.7	opportunity.
1:26.8	When you were last on a show around the first of the year, Amazon's value was about $20
1:30.9	billion.
1:31.9	The value of Amazon today is around about $11 billion.
	...

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