27th January 2012
Amazon's Hit Man
“In interviews, Amazon executives cast their new effort as an experiment in the booming world of e-books, not a plan to displace the Big Six—Random House, Simon & Schuster, HarperCollins, Penguin, Hachette, and Macmillan. “What we’re building is more like an in-house laboratory where authors and editors and marketers can test new ideas,” says Jeff Belle, vice-president of Amazon Publishing and Kirshbaum’s boss. “Success to us means working with authors who want to find new ways to connect with more readers.” Talk like that hasn’t mollified publishers, and it’s easy to see why. They’re trying to protect a century-old business model—and their role as nurturers of literary culture—from encroachment by a company that consistently reimagines how industries can be run more efficiently. Book publishing, an inefficient industry if there ever was one, seems ripe for reimagining.
29th September 2011
The Omnivore
“Jeff Bezos is channeling Steve Jobs. It’s mid-September and the wiry billionaire founder of Amazon.com (AMZN) is at his brand-new corporate headquarters in Seattle, in a building named Day One South after his conviction that 17-year-old Amazon is still in its infancy. Almost giddy with excitement, Bezos retrieves one by one the new crop of dirt-cheap Kindle e-readers—they start at $79—from a hidden perch on a chair tucked into a conference room table. When he’s done showing them off, he stands up, and, for an audience of a single journalist, announces, “Now, I’ve got one more thing to show you.” He waits a half-beat to make sure the reference to Jobs’s famous line from Apple (AAPL) presentations hasn’t been missed, then gives his notorious barking laugh. With that, Bezos pulls out the Kindle Fire, Amazon’s long-anticipated tablet computer—and the first credible response to the Apple iPad.
5th August 2011
Tencent: March of the Penguins
“Tencent is the Internet Goliath you’ve either never heard of or know little about. Yet 674 million Chinese actively use its QQ service, and hundreds of millions more are familiar with its cute cartoon mascot, a winking, scarf-wearing penguin that has helped make Tencent one of the most recognized brands in the country. With 11,400 employees and more than $3 billion in revenue in 2010, it’s become the largest—and, by its competitors, most criticized—Internet company in China. Now Tencent’s ambitions are expanding into the U.S. and elsewhere. Flush with cash, it’s making investments, acquiring startups, and forcing Western companies to consider whether it’s friend or foe. “If you are a Silicon Valley guy and you don’t have Tencent on your radar, you have to be deaf, dumb, and blind,” says Michael J. Moritz, the renowned venture capitalist who backed Google (GOOG) and PayPal (EBAY). “I am full of admiration for the characters at the helm of that company. They are extraordinarily thirsty and aggressive.”
