But in 1999, no one could predict that Amazon would expand far beyond books; create Kindle, Echo and other devices; build out a multi-billion-dollar cloud business; create original television and movie programming; develop Amazon Prime, which would penetrate 60% of U.S. households (with greater concentration among the wealthy); become the third most valuable company in the world, briefly touching a trillion-dollar market cap; and capture nearly half of all dollars spent online.
As William Goldman said about Hollywood: “Nobody knows anything.” Something to keep in mind when considering the future of any company.
This column was provided by Bloomberg News.