Column: Welcome to Jeff Bezos's world, news biz
Just imagine the headlines if Amazon.com Inc. had bought a controlling interest in the Washington Post newspaper for $250 million.
Investors in Amazon are resigned to watching company founder Jeff Bezos plough fabulous sums into expansion, and wait patiently for a payoff in the distant future. So distant, in fact, that in its latest quarter, the company took in $15.7 billion in revenue and still managed to lose $7 million on the bottom line.
But buying a money-losing newspaper? Amazon’s investors would have gone all Kingslayer on the dude.
That’s why Monday night’s big headline was: “Bezos Buys the Washington Post.” Surely a newspaper is no crazier a gamble than space colonization, another venture that Bezos is personally dabbling in. As the world’s 19th richest person, worth about $25 billion, Bezos can buy a lot of crazy.
The question is, why the Washington Post?