American Entrepreneur

CHAPTER 13

The New Economy: The 1990s

Jeff Bezos was looking for a business—any business—in which he could take advantage of a vast new marketplace that he saw offered by the Internet. In 1995, Bezos hit upon books. His selection was odd, because Bezos was hardly a bibliophile, and not even what one would call an avid reader. He did, however, perceive that books presented an excellent product for Internet sales: They were relatively easy to ship, which meant a minimal labor force was needed, and they were perfect to advertise online. Bezos had identified a market in what would be called the New Economy, defined as being based on “intangible ...