When I first heard of Amazon when Terri Gross interviewed Jeff Bezos on Fresh Air, 1994?, 1995? Books delivered and discounted. I left Powell’s Books, my local bookstore that never discounted. Those were days of $100 visits for Books! Books!
Amazon would save me a lot of money. Take that greedy Powell’s!
Now Bezos is the richest guy I hear of. The kind of guy that looks for things to spend his money on. I’ve left Amazon. I’ve quit paying the Amazon tax. Not all purchases are local. But they are closer to the person that makes it.
I believe if instead of $100 of books from Amazon back in 1997, you had bought $100 in Amazon stock, you’d have a cool half million now.
I show a adjusted closing price of $5.00 on Jan 1, 1998 and a currect closing price of $3,170. So we’d have ~$63,400, based on $100 worth of stock purchases.
As it turns out, I did buy AMZN. I would have purchased $1,000 minimum. There are lessons lurking.