Jeff Bezos buys the Washington Post

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holy shit, imo

i too went to college (silby), Monday, 5 August 2013 20:51 (six years ago) link

weird

More Than a Century With the Polaris Emblem (calstars), Monday, 5 August 2013 20:54 (six years ago) link

All Post writers to be seasonal temps working in unheated/uncooled warehouses.

Kiarostami bag (milo z), Monday, 5 August 2013 20:57 (six years ago) link

Bezos: "Hey, what did you buy today?"
Brin: "Nothing special, bought an expensive hamburger"
Bezos: "Cool. I bought a newspaper."
Brin: "News-pap-per. Lol."
Bezos: "Lol."

Le Bateau Ivre, Monday, 5 August 2013 21:00 (six years ago) link

All Post writers to be seasonal temps working in unheated/uncooled warehouses.

Richard Cohen, George Will, Sally Quinn, Jennifer Rubin, Charles Krauthammer...not seeing a down side here.

Ned Raggett, Monday, 5 August 2013 21:04 (six years ago) link

whoah

lol Ned

joe schmoladoo from 7-11 (Shakey Mo Collier), Monday, 5 August 2013 21:05 (six years ago) link

Makes perfect sense for Washington Post Co. to concentrate on Kaplan. All but a handful of high-profile newspapers will be owned by eccentric oligarchs in the future.

Inte Regina Lund eller nån, mitt namn är (ShariVari), Monday, 5 August 2013 21:07 (six years ago) link

THE BEZOS BUGLE

Breaking news: Jeff Is Thinking of Buying an Island
Weather: Temperature At Jeff's house Is Currently 75 deg F
Money: Jeff Has LOTS!
TV: Jeff Thinks Those Kardashian Girls 'Have a Lot Of Potential'

the pen is mightier than the penisword (VegemiteGrrl), Monday, 5 August 2013 21:15 (six years ago) link

The good thing is he already knows how to run a company that makes no money.

something of an astrological coup (tipsy mothra), Monday, 5 August 2013 21:16 (six years ago) link

^^ exactly my thought

i too went to college (silby), Monday, 5 August 2013 21:22 (six years ago) link

Finally, maybe now we'll get a copy of Amazon in print form.

Josh in Chicago, Monday, 5 August 2013 22:10 (six years ago) link

One of my favorite discussions is talking to people who own Amazon stock.

the rofflestomper (dandydonweiner), Tuesday, 6 August 2013 00:08 (six years ago) link

serious question from an ignoramus: if AMZN still doesn't make any money after all these years how does this guy have so much money? is it all based on expected growth of amazon?

tobo73, Tuesday, 6 August 2013 00:24 (six years ago) link

Amazon has massive revenue but small net income if I understand.

Van Horn Street, Tuesday, 6 August 2013 00:30 (six years ago) link

That's not an unreasonable question to ask. There are a fair number of stocks that reach high valuations without actual "profits" because of exactly what you said -- expected growth/future profits. With Amazon, some observers have questioned those assumptions for a long time, which is why it's not unreasonable to be scratching your head a little. Regardless, his many shares of Amazon (plus, presumably, his previous high income and his high salary) have made him worth billions of dollars, hence he has the money to purchase WaPo out of his personal fortune.

HOOS next aka won't get steened again (Hurting 2), Tuesday, 6 August 2013 00:31 (six years ago) link

he owns about 20% of Amazon iirc, so his stock on paper (which he can't really sell of course) is probably worth about $28 billion.

i too went to college (silby), Tuesday, 6 August 2013 00:32 (six years ago) link

I didn't understand.

Van Horn Street, Tuesday, 6 August 2013 00:33 (six years ago) link

you're not wrong that they have massive revenue with little to no net income, that's just not the whole explanation. Companies that have massive revenue but no net income often watch their stock prices drop, not rise.

HOOS next aka won't get steened again (Hurting 2), Tuesday, 6 August 2013 00:59 (six years ago) link

There have been a few Slate pieces (Slate now owned by Amazon? No, he just bought the paper, right, not WaPo Inc?) on how Bezos has been able to successfully deal with the shareholders, expanding the company without doing the profit dance shareholders usually demand.

Here's one: http://www.slate.com/blogs/moneybox/2012/10/26/amazon_profits_they_don_t_exist_but_the_company_keeps_on_keeping_on.html

Josh in Chicago, Tuesday, 6 August 2013 01:22 (six years ago) link

he bought the Washington Post and some other local papers, but not Slate or the rest of the Post Co.

i too went to college (silby), Tuesday, 6 August 2013 01:45 (six years ago) link

you're not wrong that they have massive revenue with little to no net income, that's just not the whole explanation. Companies that have massive revenue but no net income often watch their stock prices drop, not rise.

A lot of shareholders are hedging on Amazon's market entrenchment and distribution/logistics systems, which are significant. Many see AMZN as a long term play and actually a rather stable long term play given the massive revenues at stake. Amazon Prime and their cloud services have been game changers.

But like I said, it's usually a fascinating discussion with shareholders.

the rofflestomper (dandydonweiner), Tuesday, 6 August 2013 02:38 (six years ago) link

was wondering if there'd be a reference to John Mitchell's 1972 'wringer' comment in his letter and amazingly there is.

piscesx, Tuesday, 6 August 2013 04:34 (six years ago) link

A lot of shareholders are hedging on Amazon's market entrenchment and distribution/logistics systems, which are significant. Many see AMZN as a long term play and actually a rather stable long term play given the massive revenues at stake. Amazon Prime and their cloud services have been game changers.

All of this is true, but it seems like the goalpoasts keep moving.

HOOS next aka won't get steened again (Hurting 2), Tuesday, 6 August 2013 04:39 (six years ago) link

There's no trick to it, it's just a simple trick

joe schmoladoo from 7-11 (Shakey Mo Collier), Tuesday, 6 August 2013 04:44 (six years ago) link

multi-billion-dollar companies HATE him

HOOS next aka won't get steened again (Hurting 2), Tuesday, 6 August 2013 04:52 (six years ago) link

it's amazing how low $250 mil sounds, lol newspapers

Miss Arlington twirls for the Coal Heavers (Dr Morbius), Tuesday, 6 August 2013 11:18 (six years ago) link

a shame Bezos can't buy Howard Fineman, Bobby Woodward, Tina Brown -- stuck on "Morning Joe" -- and plunge them into a dungeon.

first I think it's time I kick a little verse! (Alfred, Lord Sotosyn), Tuesday, 6 August 2013 11:24 (six years ago) link

informative article:

..."Since inception Amazon has generated $20.2 billion from operations almost half of which ($8.6 B), has been used for capital expenditures such as new distribution centers, which improve life for the customer. In the past ten years the share base has only increased by just over 10% while the company has grown twelve-fold. For shareholders it doesn’t get better than that..."

https://www.linkedin.com/today/post/article/20130805231302-25760-stop-the-presses-a-new-press-lord-appears

the rofflestomper (dandydonweiner), Tuesday, 6 August 2013 11:44 (six years ago) link

Top reporters still do important work, and hopefully Bezos will find a way to profit from it that's better than selling unpersonalized ads in a dying medium.

wombspace (abanana), Tuesday, 6 August 2013 12:17 (six years ago) link

Amazon is basically becoming the Standard Oil of consumer products. Although Standard Oil was profitable much sooner.

HOOS next aka won't get steened again (Hurting 2), Tuesday, 6 August 2013 13:59 (six years ago) link

Ok here's something I don't understand: Bezos pays $250m to the Washington Post Company for the Post and other properties, and WPO stock goes up by $31+/share, which times 7.4million shares is around $250 million. But it's not like the company just gained $250 million out of thin air, they sold assets that were arguably worth that amount, if not more.

HOOS next aka won't get steened again (Hurting 2), Tuesday, 6 August 2013 14:13 (six years ago) link

WPO can reinvest the $250m money in Kaplan which is a profit-making business, unlike the Post. They've cut a loss-making arm that wasn't relevant to their core business and can now put more money into (i'd guess) expanding test prep and colleges in China.

Inte Regina Lund eller nån, mitt namn är (ShariVari), Tuesday, 6 August 2013 14:22 (six years ago) link

First act of Bezos (retrospectively, via time machine): prevent Richard Cohen from writing about the time he was cheated on.

Ned Raggett, Tuesday, 6 August 2013 14:22 (six years ago) link

Hurting I know that you know that stock prices (can) go up on speculation, and the speculation (I guess) is that dropping off bad assets can increase the future value of shares (in the eyes of some investors.) And also, not really sure if it's wise to speculate on the exact amount of increased share value based on one day of trading but certainly there are buyers at the end of the day who are making decisions based on market cap.

That Cohen column is mind boggling.

Also: http://www.jackflack.com/2013/08/06/parsing-jeff-bezos/

xp

the rofflestomper (dandydonweiner), Tuesday, 6 August 2013 14:48 (six years ago) link

I hate MG but this is interesting:

http://techcrunch.com/2013/08/05/bezos-not-bozos/

the rofflestomper (dandydonweiner), Tuesday, 6 August 2013 21:49 (six years ago) link

I had always known precisely how I would react if she cheated on me. The relationship would end, swiftly, coldly, even sneeringly. My goodbye lines would be scathing, worthy of someone intending to make his living with words

first I think it's time I kick a little verse! (Alfred, Lord Sotosyn), Tuesday, 6 August 2013 21:59 (six years ago) link

That techcrunch article doesn't amount to much more than "Bezos is really smart, so he must know what he's doing with this." Maybe he just thinks the Washington Post is undervalued. Buffet thinks newspapers are undervalued too. Bezos doesn't happen to have any special knowledge of the newspaper industry, afaik, he's just making a bet. He might be right or wrong, but I don't see how it plays into some grand strategy (particularly as it's Bezos himself buying WaPo, not Amazon).

HOOS next aka won't get steened again (Hurting 2), Tuesday, 6 August 2013 22:08 (six years ago) link

two months pass...

Bloomberg story on Jeff Bezos

• Boss lacks empathy, creates billion-dollar corporation, doesn't know or care about real dad who abandoned him.

• Weird to see Walmart as the underdog taking a loss.

• These door desks, if there is a scourge of the 90s, it's these whimsical ideas about work culture - from bouncy balls in the hallways to these door desks. I don't even like casual Fridays, so maybe I just hate fun.

• Former president of my company used to send me ? emails. I sent him back replies that said ?? a couple of times. Then again, he wasn't Jeff Bezos either.

pplains, Thursday, 10 October 2013 15:36 (six years ago) link

The door desks are, hypothetically, "frugal" and are not particularly whimsical. There's really very little whimsy here. Compared to Google offices which generally seem to be described as expensive playgrounds for programmers.

The laugh is definitely distinctive and disturbing though, even experiencing it from a distance at one of those KeyArena Q+As.

i too went to college (silby), Thursday, 10 October 2013 17:02 (six years ago) link

whimsy's not the right word, but the whole Think Different by doing goofball shit.

pplains, Thursday, 10 October 2013 17:33 (six years ago) link

even frugal is questionable--i thought i remembered reading somewhere that they effectively break even after the necessary mods

HOOS it because...of steen???? (BIG HOOS aka the steendriver), Thursday, 10 October 2013 17:52 (six years ago) link

iirc the desk doors are a monument to frugality, but normal cheap desks would be waaay actually more frugal.

its ostentatious underconsumption

Saul Goodberg (by Musket and Pup Tent) (s.clover), Friday, 11 October 2013 02:31 (six years ago) link

lol yeah that sounds about right. It's not like Seattle doesn't have an Ikea.

i too went to college (silby), Friday, 11 October 2013 07:35 (six years ago) link

three years pass...

https://pbs.twimg.com/media/C1aajuNUcAEZwj1.jpg

mookieproof, Thursday, 5 January 2017 15:01 (three years ago) link

omg

slathered in cream and covered with stickers (silby), Thursday, 5 January 2017 15:02 (three years ago) link

What's the estimate on the number of WaPo staff members currently cleaning out their desks?

DJ Untz Hall (Old Lunch), Thursday, 5 January 2017 15:06 (three years ago) link

I'm missing something here.

Jeff, Thursday, 5 January 2017 17:52 (three years ago) link

thats the dude symbol in the cover. it has a penis. the womens symbol has a plus.

carthago delenda est (mayor jingleberries), Thursday, 5 January 2017 17:53 (three years ago) link

lol epic fail

flappy bird, Thursday, 5 January 2017 17:54 (three years ago) link

hahaha

the last famous person you were surprised to discover was actually (man alive), Thursday, 5 January 2017 17:55 (three years ago) link

got it!

Jeff, Thursday, 5 January 2017 17:56 (three years ago) link

I was looking for a typo.

Jeff, Thursday, 5 January 2017 17:57 (three years ago) link

haha my goodness

F♯ A♯ (∞), Thursday, 5 January 2017 18:13 (three years ago) link

at least they made it pink

Guayaquil (eephus!), Thursday, 5 January 2017 18:17 (three years ago) link

Since November the Post has been by far the place I've read the most anti-Trump articles, far more than NYT

Bnad, Thursday, 5 January 2017 18:22 (three years ago) link

If WaPo is anything like NYT, its never had as strong a subscription campaign as the Trump victory.

Somehow, I suspect Trump will also be paradoxically good for Prius and Tesla sales. "We can't depend upon Fed incentives anymore"...

Least-satisfying overall (Sanpaku), Thursday, 5 January 2017 19:41 (three years ago) link

has anyone made that cover blunder into the prince manwoman insignia yet

his eye is on despair-o (Jon not Jon), Thursday, 5 January 2017 20:59 (three years ago) link

Hand to heart, I've been wondering the same thing. And also wishing that they'd made that mistake instead.

Grand Moff Tarkus (Old Lunch), Thursday, 5 January 2017 21:01 (three years ago) link

There's remarkably few stock images for "female symbol crowd". On the other hand, there's plenty of image taken of this Filipino assembly for Int'l Woman's Day, 2014.

http://www.usasianpost.com/wp-content/uploads/women.jpg

Least-satisfying overall (Sanpaku), Thursday, 5 January 2017 21:14 (three years ago) link

one year passes...

Bezos eats an iguana

https://www.instagram.com/p/BiVjJ7RgJlq/

reggae mike love (polyphonic), Friday, 4 May 2018 21:11 (one year ago) link

lizard person is cannibal

Mahogany Loggins (bizarro gazzara), Friday, 4 May 2018 21:36 (one year ago) link

Bezos eats an iguana

oh goody! with a bit more digital magic we can have him eating whatever we want right out of our hands.

A is for (Aimless), Saturday, 5 May 2018 00:39 (one year ago) link

three months pass...

On the top of the WaPo website, just beneath the bona fides, there's a little row of clickbait stories. They're horrible, but usually at least one looks passably interesting. Today, though, they reached their nadir:

Tucker Carlson John McCain Drug tunnel Cancun 'Free range' parents Yoga ball White males Therapy ducks Hurricane Lane Robin Leach Urban Meyer Kyrie Irving

remy bean, Friday, 24 August 2018 22:58 (one year ago) link

that unit pretty routinely begs for copy-pasting

John McCain Drug tunnel Cancun

faculty w1fe (silby), Friday, 24 August 2018 23:10 (one year ago) link

brooklyn's got a winning team

Arch Bacon (rushomancy), Saturday, 25 August 2018 00:44 (one year ago) link

British politician sex

Neuer write off the germans (Bananaman Begins), Saturday, 25 August 2018 07:53 (one year ago) link

one year passes...

Good to see some of Jeff Bezos' money trickling down to...David Geffen

https://www.bloomberg.com/news/articles/2020-02-12/bezos-sets-record-with-165-million-beverly-hills-home-purchase

j.o.h.n. in evanston (john. a resident of chicago.), Thursday, 13 February 2020 01:01 (two weeks ago) link

Bought a 2nd house in DC too, plus buying art. Trump’s personal and corporate tax rates are working well for him. He pays nothing

curmudgeon, Thursday, 13 February 2020 02:57 (two weeks ago) link

well someone's getting Aerosmith back

sorry for butt rockin (Neanderthal), Thursday, 13 February 2020 03:04 (two weeks ago) link


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