TheWorldJournal.com

Yahoo! and Amazon are for life
By Artashes Toumanov, TheWorldJournal.com

You know, sometimes it's cool to observe the world from above. It's been one year since I started to study economics. And let me tell you something - ideas, not economic rules change the world.

All these smart theories are just the basic stories about how these ideas changing the world we're living in. They are the basic rules according to which we appear to react when deciding on our next move. Rules, that have been living with us for quite a long time. They are myths, stories we trust, because they are the most general result of real experiments.

Talking about the hi-tech crisis. Companies lost 90% of their value; most of them made massive lay offs, some part of them filed for bankruptcy. Well, this is what economics is about. All these "losers", who collapsed under the pressure of economic rules, are now analyzing what on Earth they did wrong. They won't find the right solution. Even if they do - it's too late to change something.

The winners will not only survive, but will even become stronger and richer. Yahoo!, Amazon.com, Microsoft, etc., all these companies are from the hi-tech sector of the market. Then why didn't they break? Why didn't they loose as much as others did? The answer is obvious: because they are what people call "an idea that changed the world".

Of course there is no doubt they lost some of their money, but under these circumstances they continue to show positive numbers in their profit balances.

Microsoft was the first with Windows; Amazon.com was the first with selling on the Internet, Yahoo! was the first with making an online recourse catalog. It actually doesn't matter what the company was doing - being the first means to win people's choice. Now whatever they say about Amazon.com not being the largest store on the Internet, it will remain being the "favorite one". Yahoo! will continue to rule the world on the Internet, make decisions that will change our being with their system. That is why they will survive any financial crisis.

It's not about how hard you work, it's about what you do and how you do it. As we can see on our few examples, only the first species of businesses survive and continue to work, which means that great ideas could not be broken neither by financial crisis, not by nature itself. Great ideas will always be great innovations. They will always contradict the rules of economics and will for sure change the world to a better and more developed place.

Yahoo! and Amazon are with us for life.

© May 26, 2001

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