Quote:
Originally Posted by slidekellyslide
The day they went public was the beginning of their efforts to mirror Amazon.
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Yup, which I never understood, since they were always more profitable then Amazon.
I'm not going to pretend like I understand all aspects of the situation, but that's also when they started buying up more assets, infrastructure, competitors, Paypal, etc...
Creating an infrastructure they didn't have before. Perhaps they think that's worth far more then profits on paper when they eventually get bought out by somebody like Icahn, who sees value in breaking the company up into pieces.
Not a great move for the foot soldiers in the company, but great for the upper level management, looking to retire early and become "philanthropists" with the embarrassment of riches they balloon out on.