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TIP637: Jeff Bezos's Shareholder Letters w/ Clay Finck
We Study Billionaires - The Investor’s Podcast Network
Jeff Bezos on Surviving the Dot Com Bust
During the dot com bust, Amazon's stock plummeted from 113 to 6, while its internal business metrics were improving significantly. Despite Wall Street's focus on profitability, Bezos remained focused on increasing customers and achieving positive gross margins. By focusing on internal growth and being financially prepared, Amazon was able to survive the bust without needing more capital. Bezos understood that stock value doesn't always reflect the true value of the business and stayed committed to long-term success. Amazon's key metrics such as customers served, sales, and international sales were all showing positive growth trends during this challenging time, attracting attention from value investors.
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