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1A) Amazon is an extraordinary company. The former bookseller accounts for more than half of every new
2B) Yet Amazon’s shareholders are working on the premise that it is just getting started. Since the beginning
3C) That is because investors anticipate both an extraordinary rise in revenue, from sales of $ 136bn last year
4D) It is easy to tick off some of the pitfalls(隐患). Rivals will not stand still. Microsoft has cloud-computing
5E) This is largely due to the firm’s unusual approach to two dimensions of corporate life. The first of these is
6F) In e-commerce, the more shoppers Amazon lures, the more retailers and manufacturers want to sell their
7G) So long as shareholders retain their faith in this model, Amazon’s heady valuation resembles a
8H) If Amazon’s approach to time-frames is competitors, as too is the sheer breadth of its activities. The
9I) Many of these services support Amazon’s own expansion and that of other companies. The obvious
10J) And here lies real problem with the expectations surrounding Amazon. If it gets anywhere close to
11K) But as it grows, so will concerns about its power. Even on standard antitrust grounds, that may pose a
12L) Amazon’s business model will also encourage regulators to think differently. Investors value Amazon’s
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