I recently posted that I believed Jeff Bezos might become the face of American entrepreneurship with the passing of Steve Jobs. Henry Blodget seems to agree, writing a piece, Dear America: It’s Time to Say a Big ‘Thank You’ to Amazon, in which he highlights that Amazon missed its most recent earnings numbers and issued lower guidance — basically chartering a path independent of Wall Street analysts. Blodget writes:
Amazon is a highly unusual American corporation, for several reasons:
Amazon unapologetically builds its business for the long-term, without worrying about what short-term Wall Street traders think.
Amazon sacrifices near-term profits for long-term investments, again without worrying about what short-term traders think.
Amazon operates at a much lower profit margin than it could have if it were trying to “maximize near-term returns,” which is what many (most) American corporations try to do.
Amazon is investing — and hiring — aggressively for the future, at a time when most American corporations are cutting costs, laying off workers, and hoarding humongous piles of cash.
The piece by Henry Blodget highlights that other than Jobs, perhaps no other technology entrepreneur has had the vision and ability to execute as well as Bezos over the past 20 years. The piece highlights the eco-systems that Bezos and Amazon have built. BTW, there is a new book on Bezos and Amazon out this week by Richard L. Brandt, One Click: Jeff Bezos and the Rise of Amazon.com.
from Blodget: DEAR AMERICA: It’s Time To Say A Big ‘Thank You’ To Amazon.