Good News, WaPo: Working for Jeff Bezos Is Awesome
Henry Blodget thinks this is a very good thing for the venerable paper
By Kevin Spak, Newser User
Posted Aug 6, 2013 12:02 PM CDT
Updated Aug 6, 2013 1:03 PM CDT
In this Sept. 6, 2012 file photo, Amazon founder and CEO Jeff Bezos speaks in Santa Monica, Calif. Bezos plans to buy The Washington Post for $250 million.   (AP Photo/Reed Saxon, File)

(Newser) – Jeff Bezos is a major Business Insider investor, so in the wake of the Washington Post buy, Henry Blodget has been fielding a lot of questions on what it's like to have the Amazon founder holding the purse strings. The answer? "It's great," Blodget writes. "Any company that cares about building great products and services and long-term value could not ask for a better backer." Unlike most financial investors, Blodget says Bezos is all about the long game, taking any chance to reinvest profits in exciting future possibilities.

Bezos probably just thinks owning the Post will be cool, Blodget speculates. "This is a man who invests in rockets and atomic clocks, after all. He doesn't necessarily make these investments for the money. Or bragging rights. Or strategic synergies." Not that those don't exist: Amazon and the Post are both content creators, for starters, and Amazon is getting into the local physical deliveries business. Lydia DePillis at the Washington Post adds that the paper's brand will lend prestige to the fledgling Amazon Publishing, and that its webpage will be a high-traffic place to advertise Amazon's wares. "The Post doesn't need to generate revenue" anymore, DePillis writes. "It can complement and amplify other regions of Amazonia." Click here for Blodget's full column, or here for DePillis'.

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Showing 3 of 5 comments
crypticvalentin
Aug 6, 2013 5:52 PM CDT
1. Amazon cut Wikileaks servers, at request of US govt 2. Amazon does not like to pay corporate tax.always looking for loopholes 3. video from UK recently on Channel Four, on how Amazon abuses and mistreats it's employees in the UK..
justreading1
Aug 6, 2013 3:59 PM CDT
Will the journalists use spell/grammar check? Will a better quality of news reporting be required? My parents read the the Washington Post, and sometimes they are very disappointed in the lack of English spelling and grammar. I reserve my opinion for a later date.
jonnynonos77
Aug 6, 2013 2:51 PM CDT
Amazon as a company is not very profitable. Bezos' enormous net worth comes from the stock value, which at the moment is almost entirely projected value. You could certainly have worse people at the helm but if he can't make Amazon all that profitable I would imagine the chances of him making a newspaper profitable are not very good.