By Robert Spector
In Amazon.com Jeff Bezos equipped anything the area had by no means noticeable. He created the main well-known model identify on the web, turned for a time one of many richest males on the planet, and was once topped ''the king of cyber-commerce.''
Yet for all of the media publicity, the interior tale of Amazon.com hasn't ever rather been informed. during this revealing, unauthorized account, Robert Spector, journalist and best-selling writer, offers us this up to date, fast paced, behind-the-scenes tale of the company's production and upward thrust, its tumultuous current, and its doubtful future.
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I’ll take manhattan 17 In 1988, with $28 million in start-up capital, he founded D. E. Shaw & Co. as a quantitative hedge fund. The trick to making money in this arcane discipline was to employ techniques such as statistical arbitrage, which uses complex algorithms (programmed sets of mathematical formulas designed for a computer to perform a specific function) to track—and ultimately to capitalize on—tiny discrepancies in shares of traded stock. 50 in New York and $100 in Tokyo, the fund would simultaneously buy the share in New York and sell it in Tokyo for a guaranteed profit of 50 cents per share (less the costs of the transaction).
The number one criterion was that I wanted a woman who could get me out of a Third World prison,” he said, tongue only partly in cheek. ” As it turned out, he found the woman he was looking for right there at D. E. Shaw. Her name was Mackenzie Tuttle, a thin, attractive brunette, who was a research associate on Jeff ’s staff. Mackenzie was a graduate of the Hotchkiss School, the prestigious independent boarding school located in rural Lakeville, Connecticut, and a 1992 graduate of Princeton, Jeff ’s alma mater.
With Merrill’s financial backing, Minor formed a small company with an ambitious name—Global Publishing Corporation—and began to create the infrastructure for the network. Pleased with the initial results, Merrill backed Minor on a more ambitious project that would enable news feeds to be personalized for subscribers based on their individual interests and needs. Bezos and Minor, then 26 and 25 respectively, signed a three-year contract with Merrill, and began working on the project. But just a few weeks later, Bezos and Minor were in Minor’s office when someone from Merrill Lynch called with word: Merrill had changed its mind about the project and was pulling the plug on the funding.