How Jeff Bezos Became the King of E-Commerce

In 1994, a young, Wall Street hotshot named Jeff Bezos was at a crossroads in his career: Continue amassing a small fortune… …or abandon it all to sell books? That decision would single-handedly change the history of e-commerce, publishing, film, TV, journalism, and quite possibly interstellar travel. That decision also represents a recurring
theme in his life: Never settle. Ever. This is how Jeff Bezos took a simple idea
into a garage and built one of the largest marketplaces on the planet. Jeff Bezos was born on January 12, 1964. As a child, he turned his parents’ garage into a laboratory for his inventions. In his 1982 valedictorian speech, he discussed colonizing outer space and turning Earth into a giant nature preserve. Graduating from Princeton with a computer science degree, instead of going straight into tech, he had other ideas… You don’t become a billionaire unless you
have this insatiable desire to accrue wealth and power. But I think he just looks at it in a way that’s really different to almost anyone else I follow. That’s Tom Metcalf… I’m a billionaires reporter for Bloomberg
News. He’s always driven by success, and Wall
Street was the pinnacle for most graduates. He was a very mathematical graduate. It really fit in his almost quant-like outlook. He quickly made a name for himself. At 26, the youngest-ever Vice President of Bankers Trust Company. At 28, the youngest-ever Senior Vice President of DE Shaw and Co. It was there that he discovered a giant, untapped
resource: the internet. He was seeing the internet grow by 2300% a year. In all his time at a Wall Street firm, he’d never seen such a growth opportunity. He went through a whole list of industries, and, if you think about books, easy to package. Hard to damage. And of course the internet offers an infinite
library. DE Shaw did not share his optimism. For the opportunity of a lifetime, Bezos would have to leave Wall Street. Whatever it is that you want to do, there’s gonna be risk in your life. And risk is a necessary component of progress. And he quite simply packed his stuff up, drove across the country. And the legend goes that, while in the car, he was writing the business plans. Setting up shop in his garage, in 1994, he incorporated his book company under the name…. “Cadabra”. It wasn’t great when a lawyer misheard it
as “cadaver”. He ultimately landed on “Amazon” for a
couple reasons. Firstly, the name beginning with ‘A’ would likely be on top of any alphabetized web search. And he kind of liked the fact that it tied
into the world’s largest river, and he was setting up plans to make Amazon the world’s largest company. Launching in July 1995, a bell was installed to ring every time a book was sold. In its first month, Amazon sold to people in all 50 states and 45 different countries. The bell was gone in weeks. All their expectations were smashed. They thought they’d maybe sell dozens of books the first week. It was in fact hundreds. Then thousands. And, of course today, millions. By September 1995, Amazon processed $20,000
in monthly sales. With its 1997 IPO, Amazon was valued at $400
million. By 1999, Jeff Bezos was worth $10 billion and was Time’s Man of the Year. But soon after, the dot com crash had people
skeptical: was Amazon a sustainable business, or would the bubble burst? Anyone who’s met Bezos knows he’s
extraordinarily charismatic and very convincing. In terms of the long-term vision, he had it mapped out for decades. Whatever happened in the short term, he wasn’t going to change that plan. And I think he conveyed that pretty well to his stockholders. With the crash eliminating many competitors, Amazon strengthened its grip on the market and expanded beyond books. The Kindle. Alexa. Amazon Studios. And of course…. Amazon Prime. What it does is it really locks people into
the Amazon ecosystem. They’re much more inclined to be buying
a lot more. Word of mouth spreads. And that has been the biggest driver of Amazon’s
incredible revenue growth. Yet, historically, Amazon has seen modest
annual profits. There’s an enormous amount of cash flowing
through the company. And what Bezos does – he’s not returning
that to shareholders. He’s reinvesting that in the company. For sure in its core businesses, but also going off for these almost moonshot projects. My vision for Blue Origin is millions of people living and working in space. This is such a game-changer. Amazon to buy Whole Foods. Jeff Bezos is now the richest person in the
world. $250 million for the storied Washington Post. His acquisition of the Washington Post not
only raised eyebrows, but put him at odds with another well-known billionaire. He bought the Washington Post to have political
influence. If I become President, oh do they have problems. They’re going to have such problems. Bezos and Trump are probably as different
as two entrepreneurs can get. Trump is pretty reactionary, kind of emotional, whereas Bezos normally doesn’t really respond. Though once he did suggest he’d be willing to send Donald Trump into space. And, you know, I have a rocket company so… the capability is there. Few businessmen choose to make an enemy of
a president. But having built an empire out of a garage, Jeff Bezos has proven capable of handling any adversary. Especially complacency.

100 Replies to “How Jeff Bezos Became the King of E-Commerce”

  1. Ive used amazon a lot over the years but i think this guy is the face of evil, soley because amazon owns IMDb, and the IMDb message boards were deleted under Amazon's ownership. This guy has a lot of bad karma stacked against him for letting that happen. The forums needed work, but all that was needed was a room full of forum administrators to keep the boards under control. This guy is a douche. I learned everything about cinema (arguably the greatest art form) from the IMDb message boards. The IMDb message board community was like a family, and deleting the community was nothing short of a digital holocaust. I also believe that deleting the forums was a thinly disguised "silencing" of a large group of people with different opinions. Amazon wants to push it's agenda without any background noise. Jeff Bezos is like a modern Darth Vador.

  2. Small town shops are gone. Keep going folks, buying. .. You all have put small businesses in America out of business.
    I don't shop Amazon.
    Lazy asses, don't you see what happened?

  3. Amazon and Alibaba are in competition. And Americans want to break Amazon into pieces to protect their retail businesses.

  4. A propoganda piece on a moraless psychopath. A rich, spoiled brat from the beginning. There's very few cases where a billionaire gets where they are without rich parents, relatives or backers to start with, or by robbing people blind: including paying their staff peanuts, working long hours under poor conditions. The sheepie sure love to be brainwashed to worship parasites like this.

  5. What a twitchy little bitch I would bet anything he was either rapped as a child or beaten. All the money in the world he is still the same twitchy little work that no one wants around them unless they are gold diggers.

  6. I didn't know so many cartoons like this existed. What happens when the acting and street walking checks run out?

  7. He was born to a teen mom and his dad was a bike shop owner. He just became the richest man in America. That is the American dream.

  8. Jeff bezos is a thief his Amazon extortion little sellers money then destroy their account without a accountability and American morally let him go with is mega scam shame .

  9. If we can ever get them to refund us for the package their driver stole and marked delivered we plan to stop using them. My wife calls them Scamazon. They are propped up by the CIA and want to destroy America.

  10. First off what's this relationship with Billionaires and Garages. Guess where I'm gonna spend more time in from now

  11. I can't understand how people look up to him as symbol of inspiration despite him treating his workers as disposable slaves.

  12. When he was just selling books he looked like any other geeky tech guy. But nowadays he looks like a Bond villain.

  13. jeff bezos had nothing to lose.
    Think about it.
    He was a very smart guy. Graduating from college top of his class with a degree in electrical engineering and computer science.
    Worked at wall street and before he started amazon was a executive at a hedge fund making 6 figures. The guy became a executive at any company he worked for within 2-3 years. So he basically had the foundation skills/knowledge to just start his own business.
    So let's say amazon failed. No big deal. He was smart enough and in demand enough he knew he could get another job somewhere and continue on with his life.
    Well lucky for him amazon did work out and he's now the richest businessman in modern history.

  14. Bloomberg has 28 'Profiles' videos posted, exactly 3 of which feature women. Of those, one is devoted to Ivanka Trump (who has accomplished what exactly?) and another is on Marine Le Pen. Even given that women are grossly underrepresented among CEOs and political leaders… really?

  15. Bezos is a modern day weapons dealer, nothing more. Amazon gets most of its revenue from government contracts, particularly with the military’s weapons division. Many know this, including celebrities, politicians, and the media yet still work with this evil company. You really believe he got rich from selling bulk toilet paper? Voice recognition, drones, face recognition, surveillance, are all developed by Amazon for military purposes and after a while sold to the public under names like Alexa or as “toy” drones you can buy your children. Bezos is a SNAKE. He pitched the face recognition to ICE while acting like a SJW. Facebook is also a government subcontractor involved in data mining. Apple the same. But Amazon is the worst and must be stopped!

  16. Not very smart when a dick pic you send your mistress costs you $50Billion.
    Or when the newspaper you bought to harass the president, Washington Post. Lies about children in MAGA hats and gets sued for $250Million.
    Jeff Bezos worth $150Billion but has ZERO class.

  17. Why such videos always has a muffled voice skype call with some guy? Is that a rule now?

  18. That's not true the reachest man in the world r rothschild r 700 tirillions why this evil illuminate seystem on earthe isreale r evils most of them

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