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Jeff Bezos Final Version
Jeff Bezos Final Version
Jeff Bezos Final Version
Jeff Bezos Final Version
Jeff Bezos Final Version
Jeff Bezos Final Version
Jeff Bezos Final Version
Jeff Bezos Final Version
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Jeff Bezos Final Version

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Econ of Ithaca

Econ of Ithaca

Published in: Technology, Business
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  • 1. Jeff Bezos The Next Internet Kingpin?
  • 2. The Background: The Dot Com Bubble • Amazon founded in a time when companies’ stock prices shot up simply by adding “.com” or “e-” to their name. • Philosophy of the day: “Get big or get lost”: company ledgers took huge losses in pricey advertising. http://www.housingmarketnews.net/images/bubble-history/dot-com-bubble.jpg • Most companies crashed during the burst; Amazon didn’t.
  • 3. Foundation of Amazon • Bezos created Amazon’s business plan on a cross- country trip. • Like other dot-com companies, Amazon fully expected to operate at a loss for the first few years. http://web.mit.edu/wi/logos/amazon.jpg
  • 4. How did Amazon survive the Bubble Burst? • No agreed-upon one reason for survival, but several factors may have helped: o 1999 patent of “1-click shopping”  Previously, online shopping done in “shopping cart” model, where items were abandoned in carts.  1 Click shopping eliminated “abandoning” and buyer confusion  Patent lawsuit temporarily forced Barnes-And-Noble, who was using a similar system, out of business at Christmas holiday rush o Customer Service: “The competition is watching us, and we’re watching the customers.”  One of the first to encrypt credit card numbers  Built distribution centers with money most companies used to advertise  Amazon had a reputation left standing after bubble burst crashed advertising capital.
  • 5. Moving On: The New Innovations Making Startups Easier than Ever • Elastic Compute Cloud: o Sells otherwise expensive server power o Very economic: Amazon normally only uses 10% of potential server power (other 90% reserved for spikes) • Fulfillment: o Sells unused warehouse space so startup capital is saved from buying private warehouses o Automates everything: As soon as buyer orders are sent, http://www.thepicky.com/images/2009/04/cloud-computing.gif warehouse automatically ships
  • 6. New Innovations cont. Task Distribution Management • Amazon Mechanical Turk: o Some tasks are just better done by humans instead of computers (image recognition, etc.) o People post these tasks on AMT and other people complete these tasks, sometimes for money. The Original Mechanical Turk: A chess o Rewards really not that playing “machine” secretly operated by a large: ~10 cents hidden person inside. It’s how Amazon’s Mechanical Turk produces human-like results; because work is done by unseen humans (the users)! http://images.salon.com/tech/feature/2006/07/24/turks/story.jpg
  • 7. The Fight to lead the Web 2.0 • Web 2.0 is about platforming: providing the basic layer for website-building. • Google has been leading this, but: • ECC, AMT, Fulfillment have attracted big customers: Microsoft, Linden Labs, etc. • So the Big Question is: Will Amazon be the New Microsoft?
  • 8. Works Cited • Bezos, Jeff (1964-). Hutchinson Unabridged Encyclopedia. Helicon Publishing. 2005. eLibrary. ProQuest LLC. ITHACA HIGH SCHOOL. 28 Sep 2009. http://elibrary.bigchalk.com • Chris Woodyard and Lorrie Grant. “E-Tailers Dash to Wild, Wild Web.” USA Today Jan. 13, 1999: 1B-2B. SIRS Researcher. Web. 28 September, 2009. • Henry Petroski. “Shopping by Design.” American Scientist Vol. 93, No. 6 Nov./Dec. 2005: 491-495. SIRS Researcher. Web. 28 September, 2009. • “Jeff Bezos’ Risky Bet” (Cover Story, Nov. 13, 2006). Business Week. 20 Nov 2006. 22. eLibrary. ProQuest LLC. ITHACA HIGH SCHOOL. 28 Sep 2009. http://elibrary.bigchalk.com.

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