Wednesday, December 05, 2001
Well, the Amazon.com news drought certainly couldn't last--last night they announced purchasing the remnants of Egghead Software at bargain basement prices. It's strange to see Amazon acting as a New Economy undertaker, but when you build out indefinitely it takes a hell of a lot longer to run out of money.
This is my favorite part:
Smith said Amazon - also a promising dot-com that has yet to turn a profit - was not concerned that it would have the same problems with its newly acquired Egghead assets that put Egghead out of business.
"I think it's sort of an apples and oranges comparison," she said. "Amazon electronics has done very well for us."
Right. Electronics has hemmorhaged red ink from day one at Amazon. In spin language it would seem that "loses us money" translates to "has done very well". It's one thing to claim that it will do well in the future, but this is just blatant hot air.
Amazon.com buys Egghead.com Web site
at 8:35 AM