A fascinating debate emerged in the tech world this week after Amazon’s big earnings miss and Steve Ballmer’s comments about Amazon’s business model.
In an interview with Charlie Rose, the former Microsoft CEO said that Amazon isn’t a “real business” without meaningful profits — defending his own record of profitability at Microsoft and implying that critics should take a second look at his legacy as a business leader.
Amazon CEO Jeff Bezos is famous for saying it’s “Still Day One” — underscoring a long-term focus that tests the patience of investors. The company is a giant in the world of e-commerce and cloud computing but has stumbled with its initial attempt to expand into smartphones.
Bezos says real innovators need to be “willing to be misunderstood for long periods of time.”