hay day hacker-execs
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amazon hacked todayAfter reading a report about the future of the Internet that projected annual Web commerce growth at 2,300%, Bezos created a list of 20 products that could be marketed online. He narrowed the list to what he felt were the five most promising products which included: compact discs, computer hardware, computer software, videos, and books. Bezos finally decided that his new business would sell books online, due to the large world-wide demand for literature, the low price points for books, along with the huge number of titles available in print. Amazon was originally founded in Bezos’ garage in Bellevue, Washington.
The company began as an online bookstore, an idea spurred off with discussion with John Ingram of Ingram Book (now called Ingram Content Group), along with Keyur Patel who still holds a stake in Amazon. Amazon was able to access books at wholesale from Ingram. In the first two months of business, Amazon sold to all 50 states and over 45 countries. Within two months, Amazon’s sales were up to ,000/week. While the largest brick and mortar bookstores and mail order catalogs might offer 200,000 titles, an online bookstore could “carry” several times more, since it would have a practically unlimited virtual (not actual) warehouse: those of the actual product makers/suppliers.
Amazon was incorporated in 1994, in the state of Washington. In July 1995, the company began service and sold its first book on Amazon.com: Douglas Hofstadter’s Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought. In October 1995, the company announced itself to the public. In 1996, it was reincorporated in Delaware. Amazon issued its initial public offering of stock on May 15, 1997, trading under the NASDAQ stock exchange symbol AMZN, at a price of US.00 per share (.50 after three stock splits in the late 1990s).
Amazon’s initial business plan was unusual; it did not expect to make a profit for four to five years. This “slow” growth caused stockholders to complain about the company not reaching profitability fast enough to justify investing in, or to even survive in the long-term. When the dot-com bubble burst at the start of the 21st century, destroying many e-companies in the process, Amazon survived, and grew on past the bubble burst to become a huge player in online sales. It finally turned its first profit in the fourth quarter of 2001: million (i.e., 1¢ per share), on revenues of more than billion. This profit margin, though extremely modest, proved to skeptics that Bezos’ unconventional business model could succeed. In 1999, Time magazine named Bezos the Person of the Year, recognizing the company’s success in popularizing online shopping.
Barnes & Noble sued Amazon on May 12, 1997, alleging that Amazon’s claim to be “the world’s largest bookstore” was false. Barnes and Noble asserted, “[It] isn’t a bookstore at all. It’s a book broker.” The suit was later settled out of court, and Amazon continued to make the same claim. Walmart sued Amazon on October 16, 1998, alleging that Amazon had stolen Walmart’s trade secrets by hiring former Walmart executives. Although this suit was also settled out of court, it caused Amazon to implement internal restrictions and the reassignment of the former Walmart executivesAmazon.com Inc. recently poached an artificial-intelligence expert from rival eBay Inc., the latest move by the retail giant to strengthen its ability to quickly determine what users want.
Hassan Sawaf joined Amazon as its director of artificial intelligence in Palo Alto, Calif., at its A9 labs, according to his LinkedIn page, with the goal of improving “the user experience for users of Amazon’s search capability across all products and businesses.”
An eBay spokeswoman confirmed Mr. Sawaf left the company. Amazon and Mr. Sawaf didn’t immediately respond to requests for comment.
Amazon is part of the scramble to develop artificial intelligence assistants, including Apple Inc.’s Siri, Alphabet Inc.’s Google Now and Microsoft Corp.’s Cortana. These companies and others are pouring money into artificial intelligence, which is expected to run everything from automobiles to houses in the future.
Amazon has increasingly focused resources on its voice-controlled devices that use artificial intelligence to dim bedroom lights, summon Uber rides, play song lists and order merchandise. Alexa, its robotic voice assistant, powers its Echo speakers, some of the first successfully mass-marketed voice-controlled devices.
The retailer is joining with companies including Ford Motor Co. and home automation startup Ecobee Inc. to integrate Alexa into more devices.Opt out of Amazon personalized Ads / Emails
Using your recently viewed items as well as your purchase history, Amazon likes to tailor ads specific to you on the shopping site. If you think that’s creepy or simply aren’t
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