we had to be resourceful and creative. but in order to expand beyond books, bezos needed capital and a lot of it. amazon.com jumped $5.50 on its first day of trading. so in may of 1987, in the middle of the dot-com frenzy, amazon went public. what s really incredible about this is this is day one. this is the very beginning. this is the kitty hawk stage of electronic commerce. day one. it s always day one became the bezos mantra. in his first letter to shareholders, bezos sketched out the foundation of amazon. it s all about the long term. i d liken it to babe ruth kind of calling his home run shot. it was audacious. bezos would stick to that long-term thinking even during amazon s toughest times. amazon stock has lost much of its luster. after the dot-com bubble burst, amazon s stock price
head that she wondered if the couple had been fighting. kathleen certainly seemed stressed. she was very, very concerned about her job stability at her company. and they were making layoffs. according to candace job insecurity couldn t have come at a worse time. her sister told her the financial pressures on their lives were mounting. she and mike were drowning in credit card debt and that big house had turned into a money pit. and they had invested heavily in her company s tech stock only to lose a bundle when the dot-com bubble burst. then there were the big college tuition bills. we ve got three kids going to college and good colleges, expensive private colleges. kathleen s daughter from her first marriage kaitlyn, remembers it, too. there was a lot of financial problems, i sensed it i sensed the stress of that. when investigators looked at the couple s credit reports, they saw just what kathleen s sister feared. they were living above their
in with the dot com bubble burst. and president obama had to face the housing and market crisis of 2008. they were all tested by these crises. donald trump creates every crisis on his own. he s never focussed on anything beyond himself, beyond what e grandizes his ego or whatever fire he set for himself that day. there are a lot of things we ve lost as a country where you can t have a unified nation. you don t have a situation where every american says there s a bottom line where this president is going to stand up for this country first instead of for himself first. and it is a little bit of a down beet chapter. it say so. i wish i had more time to talk about this. i suggest reading chapter 18. my party after trump. it s a pretty tall order you put there as to what the republicans
one-day loss in market value by a single company in wall street history yesterday. it was the company s worst day ever since becoming public after a sobering quarterly report slowing down revenue estimates and user decline sent investors heading for the his. shares closed down 19%, knocking $119 billion off the company s market value. that s a lot of money. mark zuckerberg personally lost an estimated $16 billion as a rule, falling three spots to number six on the list of the world s richest people. he s still pretty rich. no company in the history of the stock market has ever lost 100 billion in market value in a single day, but two came close, intel and microsoft back in 2000 on the edge of the dot-com bubble burst. i think the world will be watching the markets to see how and if facebook recovers. still ahead, a democrat senator claims russian hackers tried to gain access to her
pressured. they would tell each other, we re not going to let the inflation get out of hand this time. then the unemployment rate would rise. the whole climate of opinion was against them. e/ eventually, tight money did survive. but years later after the dot com bubble burst, they brut easy money back again. the fed softened the dot com crash with aggressive interest rate cuts. now the cuts sent off another boom. it was stimulating it put it into the housing, which create an unsustainable bubble in housing. we encouraged the housing boom. we, the federal reserve, urged a housing bomb. just hired by the fed to, we re not going to let prices fall. we are going to create enough dollar bills to lift prices of everything by a little. we didn t want to see people out of jobs. well intensioned. but the cons kwepss are, we