爲什麼亞馬遜CEO貝佐斯每年只花6小時和投資者交流
Most CEOs would say that courting investors is an important, even essential, part of their job. Not Jeff Bezos. His company Amazon AMZN 0.10% is famous for its aggressive growth and consistent lack of profits. Onstage at the Business Insider Ignition conference on Tuesday, the chief executive admitted that he dedicates just six hours per year to investor relations. In contrast, consider Twitter’s analyst day last month, where executives TWTR -0.33% presented a seven-hour program.
大多數CEO可能會說，討好投資者是他們工作中非常重要的一部分，但對於傑夫o貝佐斯來說卻並非如此。他領導的亞馬遜公司（Amazon）一向因高增長和低盈利而出名。在本週二的Business Insider Ignition大會上，貝佐斯承認他平均每年只花6小時在投資者關係上。比比看，在Twitter公司上個月的分析師會議上，Twitter的高管花了7個小時呢。
To cut down on time spent talking to Wall Street, Bezos doesn’t meet with his company’s biggest investors. He also avoids making appearances on the company’s quarterly earnings calls, which are typically led by the company’s chief financial officer. Bezos prefers to meet with the investors with the lowest churn—the ones who have held Amazon’s stock the longest. He has long touted the company’s value as a long-term growth play. His actions underscore the words.
爲了減少與華爾街對話所花費的時間，貝佐斯並不會與公司最大的投資者見面。他也儘量避免在公司的季度收益電話會議上露面，這種會議一般都由公司的財務總監主持。貝佐斯只喜歡與那些長期投資者會面——也就是持有亞馬遜股票時間最長的人。他一直把亞馬遜的價值稱作一個長期增長的遊戲，他的行爲也證明了這一點。Until recently, Wall Street has mostly bought into Bezos’s vision. The company’s stock has risen from $19 in 1997 to $326 today despite consistent losses. But today’s price is actually a drop—the first sustained one in six years—from an all-time high of $402 a year ago. It’s put Amazon’s much-envied momentum in doubt, as Adam Lashinsky wrote in the most recent issue of Fortune:
一直到不久以前，華爾街還是相當認可貝佐斯的願景的。儘管一直虧損，但亞馬遜的股票卻從1997年的19美元上漲到了今天的326美元。不過，這個數字與一年前402美元的歷史最高值相比還是跌了不少，這也是六年來亞馬遜股價的第一次穩定下跌。《財富》（Fortune）記者亞當o拉辛斯基也在最近的一篇文章中指出，此次下跌也使人們開始懷疑亞馬遜那種令人忌妒的增長勢頭能否持續。
Its enemies are emboldened, its products are uneven, and its competitors loom larger than ever. Even the company’s once-bulletproof stock price has been crushed, off 25% from its peak.
亞馬遜的敵人們正在攻城掠地，但亞馬遜的產品卻進展得並不順利，而且它的競爭對手們也顯得比以往更強大了。就連它以往刀槍不入的股價也變得脆弱了，比最高值時下跌了25%。Bezos’ response? “It’s a volatile stock. It always has been and probably will be for some time,” he said at Tuesday’s conference. Amazon—20 years young—is still a startup in many ways, he added. Startups are volatile. It’s a tough argument to make for his $151 billion publicly-traded company. At some point, Bezos might have to use some old-fashioned salesmanship. He doesn’t seem to be concerned about the prospect.
在週二的會議上，貝佐斯對這個問題迴應稱：“亞馬遜是一支有波動性的股票，一直是，而且以後一段時間也會是這樣。”他補充道，今年創立已有20年的亞馬遜在很多方面仍然是一家初創公司。初創公司的股價當然有波動性。不過對於這樣一家市值達1510億美元的上市公司來說，這番說辭並非很令人信服。看來貝佐斯可能得學一學傳統推銷術。但他似乎並不擔心公司的前景。You could say it will take another dot-com crash to get his attention. During the slide between 2000 and 2002, the value of Amazon’s shares went from a high of $106 to a low of just $6. “To me, that is a stock movement,” Bezos said, laughing. “When you look at our stock over five years or ten years, it looks good.” And you know what? He’s right. If you had purchased Amazon shares in December 2009, you would be up 148%.
你可能認爲，貝佐斯可能在撞上另一次“”泡沫大破裂那樣的危機時纔會正視這個問題。在2000年到2002年的那次危機中，亞馬遜的股價從106美元下跌到僅有6美元。不過，貝佐斯卻笑道：“對我來說，那只是一次股價波動。如果你從五年或十年的週期看我們的股票，它看起來挺不錯的。”事實上，他說的對。如果你在2009年12月購買了亞馬遜股票，現在它已經上漲了148%。（財富中文網）
