With Amazon, it was never about the books. No doubt Amazon began as an online bookseller, but what made its stock attractive through years of losses is what books represented.
If Amazon could modernize buying habits with an online bookstore, it could eventually be what it became: an everything store. Markets are a look ahead, and book sales didn’t appeal to patient investors as much as what online book sales signaled about Amazon’s future potential as something much greater than an online bookstore.
Read Full Article »
