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