Word: two
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Dates: during 1990-1999
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...phrase sits there on the giant monitors, and 2,000 Amazonians packing the Seattle Westin for a quarterly "all hands" meeting listen raptly while Jeff Bezos explains what it means. There are two types of businesses, he tells the troops: baby businesses, which need growth and feeding, and adult businesses, which must pay their own way. This brings him to B, M and V, which stand for books, music and video, Amazon's three oldest product lines. And the P is the news, for this trinity is nearing adulthood. "By the end of the year 2000," Bezos says...
...where you sit. Amazon offices are scattered across Seattle: the flagship Art Deco Pacific Medical Center, the Pike Street skyscraper, the original Columbia building and so on. Stunning mountain-flanked views of Lake Washington and Puget Sound are the only luxury the spartan corporate aesthetic allows. Employees are crammed two to a bare-walled office and work at Bezos-designed desks made of old doors with legs stuck on them (design director Helen Owen bets me lunch that she will still have a door-desk in five years, even if Amazon flourishes...
...high expectations pervade a company that's growing so fast that entire meetings revolve around how to phone-screen the countless job supplicants; recently more than 400 people applied for four openings. "I had five interviews with five people on two different days, and this was for a temp job," says an ex-employee. Amazon detractors are easy to find. The company, like any growing society, has developed a caste system that embitters some in the lower orders. "I hated working there," says the ex-employee. "I was totally underutilized. My bosses were bad managers who just happened to sign...
...Omidyar had lined up a venture-capital firm (Benchmark Capital, whose initial $6.5 million investment is now worth some $4 billion). eBay hired a marketing consultant to come up with the company's catchy, multicolored logo and confronted (and later defeated) threats from two new auction sites backed by well-funded big companies: Onsale and Auction Universe...
...made money from its first month of operation. After only four years, eBay is worth some $20 billion--more than Sears and J.C. Penney combined--and its stock price has surged 25-fold. The rewards for the key players have been lavish. Whitman, after less than two years at the company, controls shares worth about $1 billion. Skoll's net worth is more than $3 billion. Omidyar's 30% ownership adds up to more than $5 billion...