A Quote by Roelof Botha
It's important to choose initial investors who are not twitchy and rushing for an exit. Wall Street's quarter-by-quarter lens may make the CEO make sub-optimal long-term decisions.
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We are all a quarter good, a quarter bad, a quarter animal and a quarter child which equals a whole bunch of crazy.
Wall Street can be a dangerous place for investors. You have no choice but to do business there, but you must always be on your guard. The standard behavior of Wall Streeters is to pursue maximization of self-interest; the orientation is usually short term. This must be acknowledged, accepted, and dealt with. If you transact business with Wall Street with these caveats in mind, you can prosper. If you depend on Wall Street to help you, investment success may remain elusive.
Everybody is pretty good in the first quarter. Second quarter, you have a little bump or two on you coming into the half. By the time the third quarter comes around, you're tired, you're laboring. When you come to the fourth quarter, it calls on your character.
Under a tyranny, most friends are a liability. One quarter of them turn "reasonable" and become your enemies, one quarter are afraid to speak, and one quarter are killed and you die with them. But the blessed final quarter keep you alive.
The kind of investors we seek are long term because that's how we make our decisions.
One of many strengths that I often see in successful women on Wall Street is a responsible balance between risk taking and risk mitigation - the ability to assess situations smartly and make the right medium-to-long-term decisions without being lured into reckless, short-term profit-taking.
I have my own religion. I'm sort of one-quarter Baptist, one-quarter Catholic, one-quarter Jewish.
I always get mad when guys make shots in the first quarter, second quarter, pumping their chest, and then the game on the line, they miss. So you're doing all that for no reason.
If the short-term decisions you make damage the long term, you should resist those. But there are many short-term decisions that you need to make to be a successful manager.
Survival, with honor, that outmoded and all-important word, is as difficult as ever and as all-important to a writer. Those who do not last are always more beloved since no one has to see them in their long, dull, unrelenting, no-quarter-given-and-no-quarter-received, fights that they make to do something as they believe it should be done before they die. Those who die or quit early and easy and with every good reason are preferred because they are understandable and human. Failure and well-disguised cowardice are more human and more beloved.
Individual and institutional investors alike frequently demonstrate an inability to make long-term investment decisions based on business fundamentals.
Having billions of dollars immediately available to plug budget holes without raising taxes is very appealing. And to the delight of Wall Street investors, state and local governments often fail to ask the important questions or consider the long-term impact.
The contention is if you don't do it in the first quarter, if you don't box out and control the glass in the first quarter, you are not going to do it in the fourth quarter and overtime.
What are the odds that people will make smart decisions about money if they don't need to make smart decisions--if they can get rich making dumb decisions? The incentives on Wall Street were all wrong; they're still all wrong.
But obviously, we can't afford to make some bad long-term decisions with regard to basic commitments our country has - trade those away for some short-term assistance that may or may not be there a month from now.
The company has been clear from the start that we try to serve customers long-term, and long-term investors are going to be more excited about Amazon than short-term investors.
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